First of, whatever I will write below is probably not in your favour and will include some wordings you are not okay with ( non-native English speaker )
Everyone has its own goals, everyone interprets events differently, everyone feels happy about different things… I get that, but we are in a overall Crypto Sub. Crypto is about money, its about money YOU Control, its a way of ownership of value that cannot be taken away or compromised by anyone as long as you know the „access“. In all the history of the human evolution there was never a way to declare a world wide accepted ownership of anything. Whatever you are invested in or bought can be taken away by any authority in any second.
03/Jan/2009: Chancelor on brink of second bailout for Banks.
All of you can Interpret this message as you want and Id like to read your view in the comments. Something to think about, especially if are from the US. The old European banking system was built around the though to serve everyone with financial related services, provide capital,revenue and the most important „margin“ for market buy and sells of various goods in the way of „promis“ notes. Banks didnt cared about the legitimate case of any transfer or source of „notes“ ( printed money ) whatever amount it was, there task was to be a service provide for the people and business. To get to the point, there was a shift/ change where the banks are in charge to track the flow of the money and are in charge to prove the legitime state of the sender and receiver and are forced to report it, audit them, close/freeze accounts. In the early Days Banks didnt profited from such regulations but over time they established there position as a direct left hand. ( … ) as the tax and fraud Watchdog.
The absolut and most public noticeable influenced society regarding this Topic is the US ( from our view, China not included ) Its the most regulated and the one with the highest penalties regarding „money - fraud“. A small background, I am living in an European state ( besides the talks of hard EU-Union regulations ) you are allowed to create anonymous accounts and deposit in cash. There is an upper limit after an account needs to get verified but there is no limit of the amount of accounts. Even if you Deposit 10million there is no problem, at any point the owner is responsible . Such open / unregulated terms allows us to get a individual calculated credit for a house without a mortgage agreement. Such deals cannot be sold on the international market or deposited at the ECB as security = less profit for the Bank ( if anyone want to know details, just ask - i got such a credit for my own built house
with 1/3 borrowed capital, and if you think that living is expensive in the US, we are living the milde of nowhere compared to you and starting at 500k€ mid/normal 150qm )
The point, we regulated the outlined boarders have almost no penalties but one of the highest income taxes in the world to finance all aspects of a healthy social community and yet there is no one that played it out.
Crypto is currently regulated as Gold, in 2017 almost all independent / individuals that work in this sector had the chance to qualify themself via a participant vote for a workgroup to define a baseline strategy of the planned regulations and of course to get the idea into the eu-Parliament.
Our problem is that the current political state(current -> since 2011 ) we tend to follow / mirror the US quiet heavy. Even if almost nothing is really comeing through in the long term some of them do and even if its hard to understand, almost all of them violate our Constitution or are against the general sentiment, in whatever context ( Crypto, Taxes, Privacy, foreign policy, even Russia, China or India, Oil, Resource, trading agreements, quality standards…. ). Our independent „constitutional / courts up to the European Court “ working hard to get everything in line an literally drop „bills“ months later.
In between all of this is a network that operates global and beyond without any border, that is independent of whatever law any national government will pass. It does not care what you did and where you from and why you are useing it.
That said, any government can pass whatever regulation, as long as we will have boarders that can only be passed with a passport, no one will be able to destroy it. If the only goal of Bitcoin is to be such a big threat to unit all governments id take that as success at whatever cost
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