John McAfee on easing fear from government regulation of cryptocurrencies



banks and governance are the ones that have the fear well they shouldn't have some fear they have taken control and power away from their citizens for hundreds of years it's time that we as citizens took that power back Bitcoin and other cryptocurrencies frightening governments because people who use them you cannot find out how much money they're making through Bitcoin what they're buying what they're selling and so governments make income by taxing the movement of money whether you like in America are income taxes are the greatest source of revenue but if everybody is using Bitcoin the government doesn't know what your income is they can't tax it and if you choose to say I didn't make anything they cannot prove otherwise so there's frightens governments it definitely is frightening China and it will eventually frighten every nation state but it doesn't matter what they do there is no way you can create a law that will stop Bitcoin or any cryptocurrency because technically you cannot I mean so you close the exchanges in China who cares your exchanges everywhere in the world when I log on to I use many exchanges when I log on for an exchange I don't even know what country it's in and I don't care plus there are new technologies coming along that allow individuals without a central exchange to exchange you have bitcoins I have aetherium you put an ad on this side I'd love to make the exchange this between you and I there's no central exchange there's no knowledge of anyone else so you cannot stop this technology because it is distributed meaning that you don't care where anybody is it's a world wide and this flightless government well if you're a Bitcoin user there is no fear okay you just realize that oh this is this is very convenient very powerful it gives me the power to be my own bank why do I need a bank if I have a wallet because a wallet is the bank if I want to wire money to someone I don't have to call my bank I go in my wallet and I just send it in a matter of seconds and it's done it is convenient and it's very powerful so the fear is in the fear of governments and in central banks like JP Morgan which is America's largest bank the CEO is so concerned that he acted like a madman it called Bitcoin of frog said someone's gonna get killed eventually he's like what are you talking about it's a nonsense we have to have self-regulation that's obvious I mean China is right about one thing the icos the initial coin offerings there are lots of scams lots of people who are fraudulently taking money from other people so that's got to start but I don't think governments can stop it we as users and the Bitcoin community have to be self-regulating now we can't stop you from doing an ICO and trying to defraud everyone but we can watch you and we can publish going hey don't buy into this it's a scam because we have a bunch of people we know what we're doing we've looked at what you're doing you're trying to steal money from people and we're just put it out there do not buy this coin that that's all this is necessary because if the scam artist is is illuminated as a scam artist and we're not play with we're not going to participate so we need self-regulation the problem is this is such a new phenomenon that we have not had time to even think about it we have security problems we have problems with education we have governments trying to get in our way we have Forks within Bitcoin because you know there's so many transactions we have difficulty completing them all so we're dealing with that and have not thought yet about the further and deeper issue of how do we regulate ourselves how do we set standards and guidelines so that people are not hurt by participation in icos or buying crypto currencies or anything else

23 thoughts on “John McAfee on easing fear from government regulation of cryptocurrencies”

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  3. 💚☘️hey John good for you … you make sense ☘️ you are so knowledgable !! ☘️💚Granny Crypto UK and Ireland ☘️☘️

  4. self regulation is the key share you knowledge with each other that is the message we can self govern we don't need "governments". Think about it what have they done for us?

  5. Jamie Demon should be hung in broad daylight on wall street. He has destroyed millions of people and doesn't have even a tiny bit of remorse.

  6. I think With government regulation, It's game over. Will be more like the stock market- Little chance of seeing 100% gains over days or weeks again.. more like 100% over years Lol

  7. Idiots if we Don't pay tax then who pays for police officers, schools and hospitals. It's this american way of thinking look after youself

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