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RE: Bitcoin Trend Series / EP. 553 / Crypto isn't in a Bubble / Steem Bounty Reward
It's a good point. Is Bitcoin really a currency? At present no, not really. Will it be in the future? Who knows......
Fiat currencies can and are manipulated by governments.
The global market in drugs trade is valued at about half a trillion dollars by the UN, so it's reasonable to assume that the bulk of trade is still carried out in cash which is virtually untraceable vs bitcoin where transactions are available for everyone to see
You also have to remember that bitcoin and the crypto market in general is very immature in comparison to forex trading, equities and pretty much any other financial market out there so at present it is much easier to manipulate
Bitcoin transactions are pretty much untracable, and even if they are – the criminals are moving towards superior coins (e.g. Monero), in that (sure they say a transaction took place) they don't say who actually did the transacting.
And I guess there in lies one of the challenges of the regulations mentioned in the OP. I guess it’s the same as any kind of data protection or personal freedom argument. What, if anything, are you as an individual willing to give up for the supposed good of society?