For those who believe Cryptocurrency is untouchable... I'll ask a question...
If some of the major governments of the world label crypto illegal, how would they stop it?
If you are the Fed... How would you try and kibash this "viral infection" of decentralized illegal crypto currency?
It may be easier than you think....
Point of use for many crypto currencies is mobile payment solution, and while there will always be browser or PC based wallet and exchanges, without it being portable there is a big limitation on the benefits of crypto currency, it's portability. Being able to send money from phones is critical to it's everyday usage. [I completely understand that is debatable]
So if I was these entities that may wish it to just "go away" I'd probably lobby congress to come down on US based Google and Apple, and pull support of crypto wallet and tradging apps.
Iphone / Android sideloading, jailbreaking, can get around this Yes agreed, but not easy for the mainstream.
Web based apps, true but again not as easy for the mainstream and safe usage of crypto.
This could be a big bottle neck, making it significantly difficult to trade and conduct commerce in crypto. I think this would be first line of attack for say US government in any effort against Bitcoin or alt coins, and since Google and Apple are US based companies, this muscle is easily flexed against them.
This is more the reason to implement an oversight body and try to properly guide crypto currency on it's growth, we want to maintain a healthy currency and avoid cause for intervention.
Comment below!
Valid concern I suppose. Although I think that if Crypto gets big enough to cause the US government to take such a huge action against mobile companies. Those companies will fight it tooth and nail. They wouldn't want to lose their consumers.
There will always to other ways to run and install apps as well, it may pose challenges to the non-technical folk but people will build solutions.
On the bright side it could potentially have the effect of giving a large boost of users to Open Sourced mobile platforms.
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8 months later and we are seeing this come true.
Facebook and Google no longer support crypto advertisements and this is just the start. I am assuming the pressure for dephasing cryptocurrencies will continue.
I agree with you though, we should have some form of a civil body for oversight of digital tokens in general.
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