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re: My faith in Bitcoin just went out the window
Posted on 3/8/13 at 2:27 pm to el duderino III
Posted on 3/8/13 at 2:27 pm to el duderino III
quote:
the US government could relatively easily asphyxiate the bitcoin "economy" by shutting down the exchanges, both in the US
While possible, it will not shut bitcoin down. It would just make it more difficult to obtain bitcoins in the US.
quote:
if it wanted to, abroad
How so?
Why do you people talk about the government banning bitcoin like it's some guaranteed thing? Not only that, but how confident are you of their success? shite man, they can't stop drugs or piracy. What makes you think they can stop bitcoins?
Posted on 3/8/13 at 2:51 pm to WikiTiger
quote:like i said before, they wouldn't need to "shut it down". if bitcoin ever became a threat to the USD, i.e. fulfilled its goal (that you believe it will) of becoming a viable alternative currency, that would be more than enough to elicit action from the US gov't. and all the gov't would need to do would be to make it inconvenient enough for the vast majority of americans to never bother with it. It would not be hard at all for them to do that. And do you honestly believe the gov't wouldn't act quickly and effectively to stop a mechanism that allows people to evade taxation? there are few things the US gov't does effectively, but keeping people from fricking with their revenue stream is definitely one of them.
While possible, it will not shut bitcoin down.
quote:Are you serious? do you understand politics? do you think there is a huge bitcoin exchange business lobby in...anywhere? Someone at the Dep of commerce could literally just pick up the phone, call their counterpart at the dept. of one of our trading partners, and say, "hey, these frickers are violating our trade negotiations. shut them down." problem solved. once again, it's not about shutting down btc, it's about shutting down the companies that exchange them for money.
How so?
quote:very
Not only that, but how confident are you of their success?
quote:stopping drugs and piracy are massive net revenue losers for the government. stopping alternative currencies and easy methods of tax evasion are massive revenue gainers.
shite man, they can't stop drugs or piracy.
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