Seems like a bad idea unless they offer some other peer to peer alternative for digital payments. This is clearly something that people want. I can imagine they will be reversing this decision at some point.
They aren't doing it for 'the people' obviously. Once you gravitate towards an autocracy it matters a whole lot less why you do things, or who it is supposed to be for.
On the other hand, banning things in the digital realm is rather difficult. Unless you go completely offline in practical terms, there is no real way to stop this type of communication.
>On the other hand, banning things in the digital realm is rather difficult. Unless you go completely offline in practical terms, there is no real way to stop this type of communication.
Alternately all of the transaction history is public and recorded. Once you catch someone you will be able to trace all or their activity semi automatically, and you only need to make a few big examples to teach people what is more risky -turkish jail for financial crimes or not using crypto.
The us or China could crash the value of these crypto currencies in a single act. It's a very fragile system.
You would imagine this is what people want. I'd generally think people want to leave in free, secular, uncorrupt societies. Turns out that's not always the case.
Order is often way above freedom, securalism and corruption. You first want your daughter not to be raped each time she goes out and THEN, maybe, make sure politicians don't take kickbacks from public tenders.
And it's not easy to go out of the loop corrupt dictatorship -> poor population -> corrupt police -> easy crime -> order needed -> corrupt dictatorship supported
It doesn't change how the world works in regards to crypto. I don't like my government does that give me the legal right to do financial crimes? Will my righteousness help me in court?
In todays world countrys can't just regulate there own economy. That time us gone. Already before Corona every country printet a lot of money. Now every counrty prints money really like nuts.
I think this is a naive take. Crypto currency is a token of exchange. Of course it can be regulated just like everything else. All you need to do is make examples of people who get caught.
