To realize these gains, owners of bitcoins are going to have to convert back to fiat.
If BTC wins, we'll be converting our dollars to BTC, not the other way around.
There are many tools the government has to control the use of bitcoin, the simplest being to just outlaw it.
This won't work. BTC will just migrate to countries where it isn't illegal, taking millionaires with them.
Libertarian geeks who haven’t thought things through seem to think that because it will be hard to impossible to completely shut down a distributed system, that means the government can’t control it.
They can't. The point of this post was that they can't, and that we need to think of ways to escalate the situation until people start taking this seriously.
Wake up! Look at Ross Ulbricht! The fact that he conducted his illegal business with bitcoin was used against him. It protected him zero amount.
Because he failed at even the most basic opsec. If he had kept most of his coins in cold storage that he never touched, he would still have a fortune, even in prison.
If BTC wins, we'll be converting our dollars to BTC, not the other way around.
There are many tools the government has to control the use of bitcoin, the simplest being to just outlaw it.
This won't work. BTC will just migrate to countries where it isn't illegal, taking millionaires with them.
Libertarian geeks who haven’t thought things through seem to think that because it will be hard to impossible to completely shut down a distributed system, that means the government can’t control it.
They can't. The point of this post was that they can't, and that we need to think of ways to escalate the situation until people start taking this seriously.
Wake up! Look at Ross Ulbricht! The fact that he conducted his illegal business with bitcoin was used against him. It protected him zero amount.
Because he failed at even the most basic opsec. If he had kept most of his coins in cold storage that he never touched, he would still have a fortune, even in prison.