This is exactly why Bitcoin was invented. The creators always knew that the State would not sanction it. This is why it was created the way that it was.
Bitcoin's success does not rely on legalized exchange businesses. Bitcoins (or its progeny) will always exist in the Shadow Economy - helping individuals protect and transfer their wealth securely and privately.
The more oppressive that the State becomes the more that it will drive capital into Bitcoin-like currencies. Mass adoption for everyday commerce is just a bonus if it happens.
But the Wharton school doesn't understand what problem bitcoin is trying to solve... I guess when you're part of the problem, it really is hard to see it.
This is exactly why Bitcoin was invented. The creators always knew that the State would not sanction it. This is why it was created the way that it was.
ReplyDeleteBitcoin's success does not rely on legalized exchange businesses. Bitcoins (or its progeny) will always exist in the Shadow Economy - helping individuals protect and transfer their wealth securely and privately.
The more oppressive that the State becomes the more that it will drive capital into Bitcoin-like currencies. Mass adoption for everyday commerce is just a bonus if it happens.
But the Wharton school doesn't understand what problem bitcoin is trying to solve... I guess when you're part of the problem, it really is hard to see it.
ReplyDeleteThey will find another way to take the money. Digital is easier to take and track than phyical.
ReplyDelete