Quote:
Originally Posted by TheSquealer
The point is to regulate and tax it... therefore, they will also have to make sure Bitcoins follow all monetary laws applicable in Germany, German entities and citizens, banking rules and regulations and adhere to respective international laws and treaties. At the end of the day, a currency cannot be anonymous and follow all banking/monetary laws, be taxed etc. Therefore, the entire of point of Bitcoin and reason for its support is soon negated as it might become another currency thats accepted as such, it will never be what it was intended to be and will ultimately be regulated and controlled.
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I completely understand that and I still say that it better for bitcoin.
You have either:
a) piracy unregulated play money that is used among minority of population that "hates the banks"
b) regulated real currency that has legitimacy and is trusted by many more people.
I mean those ideological bitcoiners would not be happy but bitcoin would have much more weight as legitimate currency. Fake monopoly joke money would become real money because of recognition by countries. Thats huge achievement. I mean imagine - everybody can create play money and play in sandbox like bitcoin. But how many can create play money that becomes real money recognized by world countries?