EU Parliament states Virtual Currencies cannot be anonymous

EU Parliament states Virtual Currencies cannot be anonymous

yeahhh they don’t quite understand what they can control… at least they are trying to learn as they go, i think.

Funny that they invested a few millions in EU blockchain projects.
Yes they don’t know that they are on the wrong side of history. And seem they don’t know that they have more severe problems…

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By ‘more severe problems’ you mean the economic and financial condition in which most of EU member-states are or something else related to the blockchain tech*?

*like the fact that it is a matter of time before blockchain currencies will become mainstream.

Moralities aside. This is not a smart move. They can only make it harder for honest people to get into the cryptos, that is not enough to stop it, just increase the need for technologies that will allow them to get them anonymously. This will increase the need for Bitsquare, but will slow down the speed of adoption of cryptos itself.
Only people who will be hurt by this is themselfs and investors, this is no big problem for us. Bitcoin and anonymity will grow, no one can stop information.

Yes the general construction failures in the EU. How they treated Greece (make a 3rd world country out of it and safe their own banks - DE, FR), was for me the beginning of the end. Cultural arrogance (apply north European thinking, economies and culture to all) is another big problem and nothing seems to move in a direction to fix those problems but the opposite.
Lack of democracy and huge bureaucratic overhead other problems. The few positive thing they achieved seem very small to the rest of the total balance.
Beside that thinking in terms of geographical borders and nations is for me a concept of the past.
So no surprise that those who are locked in such concepts cannot deal with a global and permission less system like bitcoin.

It is positive at the end. It make an end to all projects which don’t care about privacy and censorship resistance. They will not survive.
Banks will replace the centralized exchanges (happens already with Fidor bank for instance).

If privacy is important for society there will be a demand for project like Bitsquare. If not, because governments and big companies are respecting and protection the data of their users, then there will be no need for projects like Bitsquare. Only the geeks will use it then (maybe like the current state :-)).

Judge yourself if we are developing in a direction where we can trust the entities in power to not abuse their power over our data or not.
Be aware that today’s actions might be turned against you in a possible future. Even if you don’t expect a problem in future you should be prepared for the case when you have been wrong. You cannot undo todays actions.

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I think we all agree here that optimal solution is that no body is ever trusted. That is something we are all working towards here. :slight_smile:

“It is only a marginal phenomenon at present.”

Who are they trying to kid? There’s over 24 billion in crypto already. There are about 100 countries with a smaller GDP than that.

You are kidding yourself if you think 24B$ is a large market cap…

http://money.visualcapitalist.com/all-of-the-worlds-stock-exchanges-by-size/

Obviously compared to the notional value of all the public companies in the world combined, $24B is a small amount of money. But I’d hardly call it marginal.

At least it is in the range of the share value of the biggest companies. Though that comparison does not really fit well…

Not only does Bitfinex have problems with USD transfer. Now it seems like OKCoin also have problems. https://www.reddit.com/r/Bitcoin/comments/666s9e/okcoin_is_also_having_usd_transfers_disrupted_are/

The plot thickens.

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Banks are the biggest vulnerabilities of exchanges and therefore a proxy for a vulnerability to Bitcoin.

And apparently your phone company is also a very weak link:

https://www.forbes.com/sites/laurashin/2016/12/20/hackers-have-stolen-millions-of-dollars-in-bitcoin-using-only-phone-numbers/#34b532a338ba

If governments could they would abolish cash and let your transact with a government issue credit card, taxes would be automatically collected, GPS location recorded in each transaction, and transactions would be done by Government approved retailers. The success of cryptocurrencies so far is a response to governments debasing the currencies through printing to facilitate exports and external debt repaying, effectively imposing a tax by reducing your purchasing power through manipulation. In addition, with the implementation of FATCA and CRS banks have grown more and more brave, holding clients hostage for documentation, charging crazy fees, and taking huge profit on forex. The time that we will all be paying for energy and groceries in cryptocurrencies is around the corner, and governments around the world will have brought this upon themselves by over regulating, over taxing and intruding, I won’t feel sorry for them.

Paying for energy? That seems to be becoming a thing of the past as well. More people are installing solar systems, in fact some governments have had to make a “service fee” for connection to the mains even if you use nothing. New Zealand does this, but at least they don’t forbid you to be off-grid like they do in the USA.

They are insane.

“should not be anonymous” what dose that even mean?