RE: South Korea To Get Friendlier To Blockchain
That's awfully generous of the Korean government. No, really. Extremely generous.
Isn't the whole idea behind cryptocurrency the idea that it sits outside the jurisdiction of governmental regulations and tax? They don't seem to recognize it, but somehow they can determine what will be done with it?
I'm thinking there needs to be some push back. I've watched the billionaire investor say how great regulation is going to be for the crypto markets, but I don't see how that's true for the individual cryptos, especially if it's going to lead to consolidation. Isn't that another word for centralization?
Sure, weed out the ones that aren't strong, but isn't the free market supposed to be really good at that?
I know I'm supposed to be thankful for any good news, but right now, I'm feeling just a little standoffish. Crypto wasn't designed so governments could get their greedy little fingers in it. It's supposed to eventually free us from them, not forever bind us to them.
I truly believe that we are now in an era which will shake out the known forms of administration and organization. Including what we call now "governments". But if this change is done in a disruptive way, the costs will be really high. A moderate transition towards new forms of organization will be suitable - at least in my opinion.
Until we reach that point in which the current shape of the world as we know it now, with countries and governments, will be replaced by this new order, the fact that old forms are willing to integrate some of the new forms in a rather concessive way, is a good symptom.
I agree that it would be great if we could have this happen slowly but surely, where it's inevitability somehow dawned on those in power too late, be it through their arrogance or through their ignorance. That would be one of the best scenarios possible.
I also feel that this is one of the best opportunities to date for anything close to that happening. Maybe they think they've got it contained and regulated and it just keeps doing its thing until it's too late. They wake up one morning to find out they no longer hold the keys to the kingdom. Instead of commanding the controls that surround us and keep us in check, those controls no longer exist and we surround them, giving them no other choice but to let us be.
That would be awesome, and I look forward to such a day.
It would be the one and only time it happened on such a scale, or even on a fraction of such a scale. Long odds. But I guess, there's always a first time for everything, right? :)