Each time Governments fudge up an economy; or topslices a county's wealth; each time they impose themselves on their populations, they only encourage people to look to alternatives.

Each time Governments try to fight cryptocurrencies, they help to encourage people to think about what money is relative to wealth.

The worse-best action Governments could take, is buying up Bitcoins with a mind to scare the market later but that would only make their position worse. Those who did sell their coins would very likely only then come back later and buy more coins, having taken some profit from that investment. Probably those Governments that are limited by legal frameworks, might not be able to waste taxpayers money buying into the market they don't like. Perhaps then in frustration - or in inspiration, they might create their own cryptocurrencies and compete.

The Governments have themselves in a quicksand of their own making - having shat on us for so long they are lacking a sound foundation; their lack of imaginative ways out, is only matched by creative solutions from alternatives like Bitcoin.

Some problems are too big for Governments to solve and the crises we face will likely only be resolved by society widely; it seems rather less likely the crises will ever be solved by that which caused them in the first place.

Big Government; Big Fail.


btw - I thought btc-e was Bulgarian ~ bulgarian trading exchange.

Ripple sounds like a wet fart.. I don't think anyone is fooled.

Well I've yet to see anyone describe Ripple as more than half an idea, based on the theory that *if* everyone held XRP, *then* it would be useful. It seems to be a suggestion of communication and information exchange through water that you don't have.

Also that's offtopic from the more interesting OP about Government's interaction with Bitcoin. Ripple as a topic seems to leak into too many threads.. that's it's other problem is too much empty hype. If something works, it doesn't need hype - it grows by word of mouth. Bitcoin works; it will succeed, whether Government helps or not.

Government is/will require detailed transaction info from exchanges.  Despite that, some users will prefer to trade with them.  That can still work.

For others, consider conducting Bitcoin transactions using incremental P2P, including face-to-face transactions.  Make government(s) less relevant.

Tips for local transactions
https://bt.irlbtc.com/view/137272.0;all

If the exchanges followed all of the laws and regulations, then there wouldn't have been an issue in the first place.  

This is what happens when people believe that they are above the law.

Run for your life from any man who tells you that Bitcoin is evil. That sentence is the leper's bell of an approaching looter. So long as men live together on earth and need means to deal with one another – their only substitute, if they abandon money, is the muzzle of a gun.

No.

No. The government is made up of US citizens who are elected by other US citizens to suposedly represent them, but actually serve Goldman Sachs.

How is creating laws possible? Laws are not being created, laws are being discovered. Laws are fundamental truths about the reality, e.g.:
- Archimedes' principle (a law) was discovered by Archimedes. This law states a certain fundamental truth, namely any floating object displaces its own weight of fluid.
- Law of universal gravitation by Newton,
- many more

For a concept to qualify to be called a law, this concept needs to be universally true. Let me give you an example: any object drowned in a bathtube displaces the amount of fluid equal to its weight:
(the below will give you some sense of being universal)
- whether in year 1900 or whether in year 2090
- whether on Earth or on Mars or on Jupiter
- whether you like it or not
- whether you consider it legal or not
- whether it will cause someone's death or will save a life

Let's see a statist's examples of law:
- one year law says smoking pot is okay, the next law gets you in jail for smoking pot - you see the so called ''law'' is not universal in time, therefore it is not a law - it is legal pseudo-science
- in one place of the Earth law says possessing gold is okay, in other place of the Earth having gold gets you in jail - you see the so called ''law'' is not universal in space, therefore it is not a law - it is legal pseudo-science
- etc

The so called ''laws'' are bullshits named sold to you as ''laws'' so that you perceive them as scientific and true, and do not protest when put in jail for non-crimes.

Trust me, no-one ''creates laws''. There are only people who write bullshit on pieces of paper, call it laws and then extract every penny out of you, if you fail to comply with the bullshit written on these pieces of paper.