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re: It’s time to revisit Bitcoin potential. Where do you think it’s going?

Posted on 2/19/21 at 5:45 pm to
Posted by Pendulum
Member since Jan 2009
7073 posts
Posted on 2/19/21 at 5:45 pm to
Yes, my 2 biggest fears are

1.Some type of hack, although the way it works, this seems highly highly unlikely and would require an unrealistic amount of computing power, maybe something that could happen down the line if quantum computing became a thing, bitcoin still could fork around it, but it would be a catastrophe

2. The governments play, they could just institute a huge capital gains tax on crypto specifically and then we would really need to use btc to buy coffee, which doesn't work...yet

However the higher the market cap, the more influence there will be against this. Also Janet just said this week that "investors should be careful speculating on things like btc"..doesnt sound like fighting words to me. They have also put in place some crypto supporters.
This post was edited on 2/19/21 at 5:51 pm
Posted by rocket31
Member since Jan 2008
41819 posts
Posted on 2/19/21 at 5:56 pm to
quote:

2. The governments play, they could just institute a huge capital gains tax on crypto specifically and then we would really need to use btc to buy coffee, which doesn't work...yet

However the higher the market cap, the more influence there will be against this. Also Janet just said this week that "investors should be careful speculating on things like btc"..doesnt sound like fighting words to me. They have also put in place some crypto supporters.


yeah, if anything the US wants its citizens to buy bitcoin. we have current US senators with Bitcoin laser eyes in their profile pictures.

read between the lies, having the majority of your citizenry own the hardest money that's ever been created is what they would prefer. they also wouldnt mind taxing the hell out of us when the price increases. the US treasury also own 70,000 bitcoins themselves.
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