Post 9kyHwE7Tqu9K5dSef2 by liberliver@mastodon.social
(DIR) More posts by liberliver@mastodon.social
(DIR) Post #9kxqxKvDLlK4iJ1pEe by htimsxela@bitcoinhackers.org
2019-07-18T05:30:29Z
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Which of these happens first?1) A mid- to high-GDP nation-state makes bitcoin use illegal, and enforces heavy penalties for it2) A mid- to high-GDP nationstate publicly invests in bitcoin, and infrastructure related to it.
(DIR) Post #9kyHwE7Tqu9K5dSef2 by liberliver@mastodon.social
2019-07-18T10:32:48Z
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@htimsxelaI'd say they will try to ban
(DIR) Post #9kymMdnvycuXu5pW2C by TallTim@bitcoinhackers.org
2019-07-18T16:13:42Z
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@htimsxela Trick question, right? There have already been countries that banned Bitcoin.
(DIR) Post #9kzIiDpQQsJyFErUuW by htimsxela@bitcoinhackers.org
2019-07-18T22:16:12Z
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@TallTim Correct me if I'm wrong, but I don't think any economically influential nation has taken a hard stance on it yet, I'm talking about a 'go straight to jail' sort of level of combativeness. Not just the now cliche 'China bans bitcoin' meme :p
(DIR) Post #9l0r79ttlS6mtyyatU by TallTim@bitcoinhackers.org
2019-07-19T16:16:20Z
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@htimsxela I recall a south american country being rather aggressive about it. Bolivia? I forget.
(DIR) Post #9l3S8t6HHedBzoNGBE by FreePietje@x0f.org
2019-07-20T22:20:39Z
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@htimsxela @TallTim I'm correcting you: India
(DIR) Post #9l3UrMRhjr0TexjMCu by htimsxela@bitcoinhackers.org
2019-07-20T22:51:08Z
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@FreePietje @TallTim True, do you have any references for the current situation there? I travelled to India years ago, it’s a wild place, incredibly population dense. Even getting rupee notes from an ATM was a challenge at times.
(DIR) Post #9l3XGNYCy2rSEapVXU by FreePietje@x0f.org
2019-07-20T23:18:04Z
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@htimsxela @TallTim Block Digest #180 talked about it:https://castbox.fm/episode/Block-Digest-180-In-Zuckbucks-We-Trust-id1192324-id162995795?country=ushttps://news.yahoo.com/india-draft-bill-proposes-10-135214038.html
(DIR) Post #9l3XSJBR1yL8AFrlmS by FreePietje@x0f.org
2019-07-20T23:20:13Z
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@htimsxela @TallTim Block Digest #180 talked about it:https://castbox.fm/episode/Block-Digest-180-In-Zuckbucks-We-Trust-id1192324-id162995795?country=ushttps://news.yahoo.com/india-draft-bill-proposes-10-135214038.html"If the 'Banning Cryptocurrencies and Regulation of Official Digital Currency Bill 2019' becomes law, mining, generating, holding, buying, selling or dealing in cryptocurrencies “directly or indirectly” will become illegal in the country. ... Those breaking the new rules may face up to a ten-year prison sentence as well as hefty fines, amounting to up to three times their gains."
(DIR) Post #9l7aHCOSrn5tMfNSLY by htimsxela@bitcoinhackers.org
2019-07-22T22:10:40Z
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@FreePietje @TallTim well to be fair, this is just a draft of a bill, it is a ways off becoming a law. Will be interesting to watch how it develops, hopefully it doesn't go through, that would be unfortunate for the Indian population.
(DIR) Post #9l7bkKaBbBbL7AJb28 by FreePietje@x0f.org
2019-07-22T22:27:07Z
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@htimsxela @TallTim That's just wishful thinking afaic.Modi just got reelected with an absolute majority in their parliament.It was his administration that drafted the bill and also denominated several of their own currency bills, for the same/similar reasons bitcoin is/will be banned.So taking drastic actions isn't out of the realm of possibilities.
(DIR) Post #9l7brbqlnTqKhCXhzs by FreePietje@x0f.org
2019-07-22T22:28:28Z
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@htimsxela @TallTim That's just wishful thinking afaic.Modi just got reelected with an absolute majority in their parliament.It was his administration that drafted the bill and also denominated several of their own currency bills, for the same/similar reasons bitcoin is/will be banned )https://en.wikipedia.org/wiki/2016_Indian_banknote_demonetisation).So taking drastic actions isn't out of the realm of possibilities.
(DIR) Post #9l7btcAZa3MWGWlH4y by FreePietje@x0f.org
2019-07-22T22:28:49Z
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@htimsxela @TallTim That's just wishful thinking afaic.Modi just got reelected with an absolute majority in their parliament.It was his administration that drafted the bill and also denominated several of their own currency bills, for the same/similar reasons bitcoin is/will be banned (https://en.wikipedia.org/wiki/2016_Indian_banknote_demonetisation).So taking drastic actions isn't out of the realm of possibilities.
(DIR) Post #9l7cr0hA2RD3PqKI40 by htimsxela@bitcoinhackers.org
2019-07-22T22:39:35Z
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@FreePietje @TallTim Fair enough- truth be told I don't know much about Indian politics, outside of a familiarity with British-influenced parliamentary systems. I don't doubt that they could take an extreme stance towards Bitcoin users, but I would be sad to see it.
(DIR) Post #9l7gmnCGgMZCD57Xto by FreePietje@x0f.org
2019-07-22T23:23:34Z
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@htimsxela @TallTim I don't know much either. I thought that the demonetization would ensure Modi would *not* get reelected, but through DemocracyNow! (iirc), I learned that he is an ultra-nationalist and that that is likely why he did get reelected. I think I've now summarized all that I know wrt India ;-PIt's indeed sad. For me, also not unexpected. I doubt India will be the last country to ban bitcoin.