![]() Since Bitcoin has admirably protected itself from having a central server easily seized by some law enforcement agency, they will strike at anything in easy reach. As the stories catch on, the media cheerleaders will egg on their governments to take action against Bitcoin. Expect the attack to start slowly, with some news stories about heinous crimes funded through Bitcoin, then more stories talking about money laundering, drug smuggling, human trafficking.you know how it will go. Western governments will also view Bitcoin as an irritant at first, then eventually as something that needs to either be co-opted or crushed. They will strike at Bitcoin by denying access to Bitcoin through their networks, and by way of the government. The established financial networks, like Visa and Mastercard, and Paypal to an extent, will all view Bitcoin at first as an irritant, then a dangerous competitor. But as Bitcoin grows more successful and people actually start to use it for routine transactions, it will come under attack from all the usual enemies of liberty, and that is a very long list indeed. If it is to survive, every effort must be taken to protect it from their attacks.Īt the moment Bitcoin is like a bird flying under the radar, too small to notice or want to do anything about. It has a small, but real, chance of becoming one of the most liberating inventions since the Internet itself, and will therefore be detested by governments around the world. Bitcoin takes power from government and puts it firmly back into the hands of the people. It seems to me that a successful, thriving bitcoin currency is very threatening to governments, because it reduces their power to trace transactions, confiscate money, and pay their bills in inflated currency. I have become fascinated with Bitcoin since first reading about it a few weeks ago.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |