Hacker News Reader

Stupid question expecting stupid answers: Is there a reason why Bitcoin can't just be treated and regulated like any other foreign currency?

View on HN

I think the anonymity of Bitcoin makes it tougher to regulate when compared to other currencies which generally pass through regulated intermediaries.

Honest question. Isn't giving someone a $20 bill for something more anonymous than BitCoin?

Yes, but there are downsides to cash which Bitcoin solves.

For example, crossing country borders with more than $2k-$5k in cash is a felony many places. Bitcoin, however, is as blind to borders as TCP/IP.

Yes, cash is more anonymous. Though, large deposits and withdrawals of cash receive more scrutiny.

Reply on news.ycombinator.com