Bitcoin and Traditional Monetary Policy

Discussion in 'Off-topic Political' started by EJR914, Oct 1, 2016.

  1. EJR914

    EJR914 Cheezburger Operator

    44,830
    186
    63
    https://www.youtube.com/shared?ci=aTKnh_os-Rs

    This is more decentralization, more freedom, more competition and is a way to stop a goverment monopoly on currency.

    I imagine if it ever gets bigger than the US goverment will outlaw it, just making it more popular. The government hates competition.
     
  2. Wegahe

    Wegahe NRA Instructor

    3,264
    525
    113
    Does anyone else remember "Ecash"? Back in the early 80's before there was a way to exchange "real money" on the internet we used Ecash in exchange for goods and services. It didn't take too many years for the credit card companies to get their hands into the dirt. Mid to late 90's I think and Ecash all but vanished. Bitcoin (while I haven't checked it out) may be about the same thing.
     

  3. phaed

    phaed Active Member

    9,360
    2
    38
    the feds are already considering it. new york has already regulated it. the problem is, with government's ability to monitor networks, they can clamp down on certain protocols if they want to (similar to what happened to p2p file sharing). this means bitcoin, while itself is resistant to being regulated in theory, is vulnerable because of the paths it rides on.
     
  4. EJR914

    EJR914 Cheezburger Operator

    44,830
    186
    63
    No doubt the government can always find a way to kill competition.
     
  5. GlockGary

    GlockGary Glock Block Supporter

    2,573
    37
    48
    Government's make monopolies illegal, unless they are the monopoly. Government's make hacking illegal, unless they are the hackers. Government's make torture illegal, unless they are the torturers. Government's make owning fully automatic weapons illegal, unless they are the owners. And so on and so forth.