@NickSzabo4 another reason why banks and institutions will eventually lose to cryptocurrency.https://nypost.com/2017/12/14/after-losing-familys-846k-inheritance-ups-offers-to-refund-32-shipping-fee/ …
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Replying to @CapProminent @NickSzabo4
TD Canada Trust fixed the problem so I guess banks and institutions WON'T lose to crypto.http://www.cbc.ca/beta/news/canada/toronto/ups-td-canada-trust-bank-draft-1.4447384 …
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Replying to @lukemburgess
How many other people have had not had the good luck of having bankers' freezing or theft of their assets reported on the news?
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Replying to @NickSzabo4
Nick, we're on the same side here. I'm quite familiar with the Bit Gold thing. But, really, do you honestly believe that the central banks are going to give up their money monopoly so easily? Nations will go to war, literally, over monetary policy.
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Replying to @lukemburgess
Wars tend to be wasteful, but trying to go to war against Bitcoin would be the particularly costly and destructive, and ultimately futile.
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Replying to @NickSzabo4
Between 1933 and 1975, the U.S. government was successful (mostly) in restricting gold bullion ownership. Why couldn't they simply make Bitcoin illegal to own the same way?
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Replying to @lukemburgess @NickSzabo4
It actually might be easier to make Bitcoin illegal than it was to make gold illegal. Government can simply deny access to Ddax, Coinbase, and other exchanges.
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That drives Bitcoin-fiat exchange underground, (or as we've seen, offshore to other countries). It doesn't harm the ability to store Bitcoin securely or to securely transfer Bitcoin to anyone anywhere in the world.
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