It may not be, but not all of them are completely stupid. They see where this is going. It floors me that anyone even considers compromise an option. Governments and regulators have no place here. Thinking like this is whats killing crypto.
The ENTIRE POINT was to financially free people from government issued currency that is constantly being taxed, regulated, and devalued. Obviously governments would want to bring it under their control, but why would ANYONE else want to help that along?!
You have to draw a line in the sand somewhere. This is our chance, and it boggles my mind that folks want to hand it back.
@ appalachain, your thought process right here is spot on! I'm mind-boggled as well that people are willing to hand it over so easily. Like you said governments and regulators have no place here. If we hand it back to them we can forget about financial freedom and I'm surprised that more people are not voicing their concerns about Goldman and these derivatives.
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@restmode, I understand wwhat you're saying, but any market can be manipulated. That's just part of the numbers game. Look at all the pump and dumps with cheap altcoins. People who aren't big players are coming together and making that happen. It becomes harder as distribution spreads out, and a coin stabilizes.
Government involvement, on the other hand can choke a market out before it ever even gets started. The reason crypto has boomed over the last few years is they've either not bothered, or been pushed away from projects.
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You can't just go ahead and completely untie yourself from governments. Even if in the future we are going to have sort of a self-governing system it will take a lot of time to get there and in its current state, BTC is not good enough. Firstly, there is the scalabitly problem, then there is volatility and lastly, it can be used for illegal transactions easily.
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@exscudo, No, not completely yet because they would throw me in a cage if I tried, but the further a man can push the state out of his life, the better. I don't think BTC will always be the dominant currency. It will only be that way till the market provides a better option. That's the way it should be. There are tons of projects out there experimenting ways to solve that very problem and more.
"Illegal transactions"? LOL! What are you talking about?! God forbid it does what it's designed to do and give people economic freedom.. Black markets are free markets, my friend.
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"Black markets are free markets, my friend." So, child pornography, untraceable guns, drugs– are a good thing just because they represent freedom? Imagine your kids getting into heroin because it suddenly became accessible via Bitcoin. No thank you, I don't want to support this future and this type of economic freedom. I'd rather pay my taxes and account for my money if I had the choice to support black markets or lose my freedom.
Thankfully, again, I do believe that there is a middle ground here and nobody will have to make this type of choice.
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