Questions on cryptocurrencies state of affairs!
Today I am somewhat perplexed by statements on legal decisions stating Bitcoin as money, and have concerns about the underlining consequences of these statements. So I pose a few questions to others here to get their take on the current state of affairs.
1. With Bitcoin, and other cryptocurrencies being free market constructs. How will we be impacted my current or future American or International politics?
2. Do we think moving ICAN out of American control helps with internet freedom or does this open the door for an influence via international political bodies that want to restrict this freedom?
3. Since blockchain based digital currency is a alternative vehicle to present day international commerce, and different government bodies are commenting on this. How do we as the community organize, and setup business structure for successful businesses?
4. How can the Steem/Steemit user community navigate governmental control of cryptocurrency or future tax control?
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Assuming crypto remains global and borderless national politics of any country should have minor effect. However as Bitcoin mining is currently controlled by China, there is a remote danger they could manipulate the miners.
No comment
Business will organise for its own benefit, Hyperledger already started.
Ultimately goverments probably cant tax/control crypto directly, so they will just control entry/exit points, and businesses will play a part in that being able to have enforcements placed on them.
Thank you for the information
"Assuming crypto remains global and borderless national politics of any country should have minor effect. However as Bitcoin mining is currently controlled by China, there is a remote danger they could manipulate the miners." Why is this so concentrated in China? I always expected this to be more spread out around the world.
Good points. Its a constant wonder... Will bitcoin do well if governments jump aboard? Or is that why its been doing well? Because governments don't jump aboard? Hence giving freedom to the people with unregulated/taxed trade.
I'm very concerned that it is the regulation that could transform this into just another government tool of control. Thats why I associate the ICAN issue since they will have a government body over them in order to keep immunity just like in the USA. However not every country believes in an open internet for all, and someone could revoke any website that now doesn't fit their political narrative.