Bitcoin’s UK Future Looks Bleak by Tom Gullen
Bitcoin’s UK Future Looks Bleak by by Tom Gullen
Bitcoins could be a technological revolution. Technological revolutions generally move fast. The countries that could benefit the most from these fast moving technologies are the ones that position themselves early on to benefit from the progression these technologies offer.
Germany has taken an admirable lead rethinking it’s position on digital currenciesand recognising them as “units of account”. Canada seems to be an ideal place for launching new Bitcoin related technologies such as the Bitcoin ATM.
Governments moving towards regulation of Bitcoin seem to have a dichotomising effect on the Bitcoin community. One side wishing to see governments embrace Bitcoin, regulate and support it. The other side viewing Bitcoin as an opportunity to totally separate money from government.
Convincing one side to consider the other sides point of view is difficult, there isn’t much middle ground to edge into and these opinions generally stem from deep rooted basal life philosophies. All each side can do is pursue their beliefs by doing what they think is right and progressive which is why I decided to attempt to encourage progressive government interest in Bitcoin.
The Worst Outcome
One outcome both sides can agree on is that a government that views Bitcoin negatively and takes steps to outlaw its usage or possession would hurt everyone (in the short term at least). Not just people who hold Bitcoins, but wider society. Putting the boot on Bitcoin and trying to drown it chokes development of exciting opportunities and keeps it penned in as a fringe and obscure technology, furthering its inaccessibility to the general public.
What exciting and revolutionary developments exactly would be choked is impossible to say. When the Internet was first developed I’m not sure anyone could have predicted the numerous monumental benefits it offers society today.