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RE: And just like that, Big Brother steps in
governments and banks won't be able to move fast enough to gain control of cryptos. most of their "wealth" is based on debt, and powerful govts seem to have serious issues going on that are dividing and waking citizens up to the corruption. this kind of regulation is going to cause an even larger loss of faith in these controlling institutions, and spur global adoption of cryptos. while Russia and Asia seem to be integrating cryptos in many ways, the domination of the USD petrodollar is going to suffer hugely if America cannot do the same. i have a lot of faith that cryptos are here to stay and will play a major role in our liberation from these crooks.
Stealing physical currency is /so easy to do/, governments have no idea what they are getting into trying to steal cryptos.
You have to pay, just like our transaction fees, for every manhour involved in moving paper currency. And one piece of paper is always 100% centralized in the hands of one person at any given time.
Imagine a cryptocurrency with any of those qualities. There are simply not enough opportunities for governments to steal a proportional amount from you. Steal they will, but they will actually have to /try/ now, which is going to cost more than it is worth in a market so heavily invested in subverting this kind of behavior.
Edit: And I agree with the OP that this will only drive adoption. Call it theft, but call it interest as well. Governments aren't going to steal something that has no value to them.
Since when does government care what anything costs? It's not "their" money in the first place - it's OURS. A government on the downside of its lifespan is desperate to survive and will do anything to survive. Laws authorizing seizures of any kind are a sure sign of desperation. They can't conjure up many more QE dollars to save their sorry asses.
I wish I had as much faith as you do?
I agree.
If we make it to the point of liberation away from the banks, blockchain will assuredly be a major player.
@bunabit could not agree more! I think that the more people become aware of the on going problem and corruption, the more they will defect from the fiat currency