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RE: Former 'Plunge Protection Team' Member Warns "Blockchain Is Freaking Governments Out"
@jobsande are you saying Bitcoin somehow is above the law of the land? Because if you ask me it looks that way. The decentralization has given it great freedom to grow. Then again governments could make it a criminal act to mine making the act of having mining software on your PC a felony charge. What prevents them from creating legislation that throws all miners in prison? What keeps them from shutting down exchanges like they did Poker websites? That might end it real quick. Lets keep our fingers crossed that's not the case.
True, they could..good point. Although, that would be a complete reversal of the trend we've been seeing recently where governments are adopting legislation for Bitcoin (ie, https://www.cryptocoinsnews.com/south-korea-preparing-legalize-bitcoin/ and http://www.coindesk.com/illinois-blockchain-initiative-policy-regulation-bitcoin-blockchain/).
True, you never know how things might change in the future, but in my opinion the popularity of Bitcoin and crypto is growing at such a rapid rate, even though you're right governments could go to extreme measures to shut it down, it would be politicial suicide (at least at this point) to publicly take such drastic countermeasures.