Crypto-currencies are still not in the middle of the society arrived. However, you can already now say that you will not disappear in the Depths of the Internet, where you came from. This realization seems to slowly even in the established financial world and also of the Treasury wakes up. How are you going to take action against crypto-currencies?
Looking closer, slow movement on the part of the regulators. The EU adopted requirements for crypto exchanges, that the customer data must be stored up to 10 years. The financial authority in Japan, the FSA will not award licenses to Exchanges, the private crypto-listed currencies. The pretext for the regulation of the prevention of money laundering and terrorist financing. You want to anonymize crypto-currencies to gradually de-to bring the new technology under control. The fight against the decentralized technology has begun.
The “Dirty Argument”
Even if the first purchase with Bitcoin today (22.5.2018) eight years ago, two pizzas, the application of the digital money is not a long time so innocent. On the Darknet Market Silk Road, one could acquire almost a year later, all the possible (and impossible) things: drugs, weapons and other illegal Goods were for sale. This all happened over the Internet – or rather the Darknet without any state control. Also, after the Silk Road was spectacular, exposed, and stopped, could not be prevented, the trade of illegal goods. Similar to the heads of the Hydra in Greek mythology, new pages just grew out of the Internet. The market did not stop.
Nevertheless, one often hears the Argument that one should not allow such markets. This statement implies a bureaucracy that is able to keep the economy under control. In other words, what is required is a monetary system which provides the means of payment function beyond the control of the same to a Central authority. Control means to be able to all the cash flows to see and associate with, to be able, where appropriate, payments to censor or accounts, even a complete freezing/dissolving. Means of payment which are outside of this control, may not be approved. This requirement should not be easily accepted finished, it represents a massive intervention of the public Hand in the economy and in the privacy of the individual.
The regulation hits the Wrong
A look at the facts of today’s world: Asymmetric cryptography is here to stay. The logical implications and resulting technologies are already developed and in the Public. Also, it is impressive how quickly the Innovation is progressing. Through the collaboration of globally distributed individuals, it will soon be possible to make convenient and completely anonymous the shopping online. Already today, there is an unstoppable method for people to network with each other and engage in trade. So what happens, however, if a control is established at the end of bureaucracy?
The planned economy of the Soviet Union called for a number of millions of lives and should be considered as a warning against government intervention in the economy. Such a System allows total control over the subjects and wishes, is, as a rule, miss. Initially, saves the Argument of “who’s nothing bad, he has nothing to hide,” the legitimacy of the control system. But in the end, it is in the discretion of the government, whom you as a criminal.
Who wants to do Bad, always has the means to do so and will not be stopped. Terrorist attacks can also be used with Trucks carried out – should we ban them? What knives is a kitchen? The reality is that the state can’t protect us from the Evils of the world, and any attempt will fail. Even if evil people want to Harm, a truck, a kitchen knife or a crypto-currency value are neutral. It depends on what the people do with it. A world in which every smallest part of life, every transaction is monitored, desirable?
“… then they fight you…”
A battle against crypto-currencies can be played on many Levels. Arguments such as “financing of Terrorism” include, to social attacks. The technology itself does not stop, therefore, you want to move people freely and willingly, not to deal with them. A similar example can be found in the United States in the 1930s, as Franklin D. Roosevelt of the population did not allow his Gold to retain and objectors as unpatriotic .
On the technological level there are, for example, the 51% attack, however, this is for Bitcoin is very expensive and really stop the System could not even then.
The fight against Bitcoin is only just beginning. He is mainly on an ideological level -“who is Bitcoin et. al. used, but Dirty“. Another approach is to ban the trade and the acceptance of crypto-currencies. But even then, the currencies still exist, and even then people can access with technical means, such as a VPN, on foreign services. It seems unlikely to ever be a world uniform Regulation is adopted, especially smaller countries, such as Malta or Gibraltar, are sensing their Chance for economic advancement.
“… then you win”
The truth is, however, that not every Bitcoin user is a criminal machinations in mind. In the same way as a kitchen knife usually used to Cut vegetables is used, and not to the murders. While this can happen, but the fault lies not in the nature of a kitchen knife, but in the plot of the murderer.
Similar to the printing press, the Internet or Smartphones even crypto-currencies are an invention of humanity that changed the lives in a sustainable way. What for us today is still uncharted territory, will soon be Standard. The next Generation will know no world without Bitcoin, as well as for us, the Internet is here to stay. The idea of Satoshi Nakamoto a direct, electronic payment system will continue to Mature and be able to fill in a global economy. The “dirty Argument” holds only in those who have never used self-crypto-currencies.
Timothy C. May and closes the crypto-anarchist Manifesto with the words:
“Just as a seemingly minor invention like barbed was wire fence of an extensive country, and thus ending forever the concept of Land and property rights in the West changed the front, just as the seemingly small discovery in an old Arm of the mathematics will be a pair of scissors for the barbed wire around intellectual property.”
It is only a matter of time until Mays premonition everyday reality? The decision to use crypto currencies or not, is up to each Person themselves. In the end can pass through the individual choice of the means of payment in a similarly peaceful Revolution as the liberation of India by Mahatma Gandhi.