I think it would be more likely people using Bitcoin would say that before any government would.
TheMerkle - Bitcoin is The Answer For Chinese TravelersIf someone has money they acquired through legal means, they should be able to easily move it wherever they want, whenever they want.Something similar happened a couple of years back when haircuts were imposed and capital controls introduced in Cyprus.They would use their Union Pay card which is like a debit card.Pulling your money out of the system is NOT money laundering.
Bitcoin Diehards Are Undeterred by China - Bloomberg
As such, it is more resistant to wild inflation and corrupt banks.The fall 2013 Bitcoin bubble was fuelled by speculation that Chinese investors would be able to send their capital abroad by using Bitcoin. Capital Controls.Only problem is if we keep most of it located in a single country it really starts to defeat the purpose of having such expensive protection.Alternatively, there are outlets that enable you to buy gold and other precious metals for bitcoin, such as Vaultoro, keeping them in an insured vault until you want to sell again or take delivery.With the recent announcement coming from Greece that Greek municipal governments are required to transfer.
Will Latest Bans on Cash and Capital Controls Grow Bitcoin?
BTC Price: One of Bitcoin's Biggest Applications May Be a LieThe Bitcoin Capital. 534 likes. Bitcoin is attractive to some users because of its anonymity, as well as its lack of government control.
"Dr. Bitcoin Venezuela" Wages 'Economic War' AgainstThe landscape is very different now, both for Europe and bitcoin.
Bitcoin - WikipediaKeeping funds on an exchange goes against everything that MtGox and a dozen other scandals has taught us.New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted.
I'm Changing My Mind About Bitcoin - Business InsiderAnything short of a death blow and they will appear impotent.Bitcoin is a worldwide cryptocurrency and digital payment system.For the first time in history, it can be possible to avoid capital controls using bitcoin for the average citizen.Registrations on the main Greek exchange, BTCGreece, have increased significantly, along with average deposits.
After all that they get to do one double spend before we hard fork to a different chain.Eventually the community would implode and people would lose faith in the technology itself simultaneously stopping development and causing panic as everyone heads for the fiat exits.
Bitcoin Capital (@BTC_Capital) | TwitterFormer JPMorgan Quant On Evading Chinese Capital Controls Via Bitcoin: Thursday, 14 September 2017 (2 hours ago) Authored by Stephen Punwasi via BetterDwelling.com.Especially considering so much of the network hash rate is physically located in China.
Especially if they can classify the costs as military or state security somehow.
Bitcoin crashes as Beijing orders cryptocurrency exchangeNow how that money came to exist in the first place to pay the citizen is another question, and one that I think is closer to the core of the issue here.The funds already donated will be spent on some sort of advertising, as intended.If China locks down everything in a very strict way, foreign investment into the country will completely stop and likely never return as it seeks out more friendly areas.If Bitcoin gets known as a tool used in China to assist in capital outflows we will be in a very dangerous situation against an authoritarian one party government.
Submissions that are mostly about some other cryptocurrency belong elsewhere.I feel so silly, I should have spotted this months if not years ago.If they can maintain 50% or more of the global hash rate it should be something close to a death according to this article: Specifically the table where it lists what can be done with 50% or more.Crypto currencies in some form will continue to exist, but purely PoW coins will always be vulnerable, as you have pointed out.The problem is, no matter how high BTC goes, it only takes a few BTC to work.