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re: Bitcoin...LOL
Posted on 1/22/22 at 5:30 pm to 22jctiger22
Posted on 1/22/22 at 5:30 pm to 22jctiger22
quote:This is such a dumb question though. Would you still vote for the political party that you associate with if the government declared it illegal and put you in prison for 10+ years for doing so? Oh you think thats far fetched? Probably closer to that than a mass ban and arresting of bitcoin users.
Would you transact in Bitcoin and the like if the US government declared it illegal and put you in prison for 10+ years if you were found to violate the law?
1
Posted on 1/22/22 at 5:35 pm to 22jctiger22
quote:
It’s semantics. Destroying Bitcoin value and shutting it down are the same in my mind. I should have been more clear.
My mistake then. That was my only point.
Of course government crackdowns on users will cause people to leave the space, but if that happens, we have bigger issues than crypto. That's totalitarian.
Posted on 1/22/22 at 5:48 pm to TigerTatorTots
quote:
This is such a dumb question though.
I am respectful of your opinion, but I don’t believe it’s that far fetched to believe that such a decision would be bipartisan. Therefore I don’t feel it’s a dumb question. Investors in Russia and China probably feel the same, no matter that they live in a country with a completely different government system. Like I said, I personally invest in BTC and others, but I treat it as a purely speculative asset at this point with no clear direction on where it can and will go. To each his own.
This post was edited on 1/23/22 at 12:45 pm
Posted on 1/22/22 at 5:51 pm to LordSaintly
quote:
My mistake then. That was my only point. Of course government crackdowns on users will cause people to leave the space, but if that happens, we have bigger issues than crypto. That's totalitarian.
We’re on the same page!
Posted on 1/22/22 at 8:20 pm to 22jctiger22
quote:
Would you transact in Bitcoin and the like if the US government declared it illegal and put you in prison for 10+ years if you were found to violate the law?
I’d be an ex-pat by the time that became law, as there would be a lot more bad authoritarian shite going on in this country that would very likely be going on simultaneously
But it won’t happen. The unwind would be so complex it would be financial chaos
Oh, and it’s decentralized so good luck with that.
Posted on 1/22/22 at 10:44 pm to Bigdavewave
Up YOY
Posted on 1/22/22 at 11:19 pm to Shankopotomus
I wish I was as optimistic as some of you about the future of this country. The thought of this country in the next 10,20,30 yrs weighs heavy with me.
Posted on 1/22/22 at 11:34 pm to GREENHEAD22
Been fun...Potatoe is a curse
Posted on 1/23/22 at 11:24 am to LordSaintly
quote:Other than taxing the profits from it, how can gov't crackdown on it?
Of course government crackdowns on users will cause people to leave the space
quote:
Up YOY
This post was edited on 1/23/22 at 12:27 pm
Posted on 1/23/22 at 12:36 pm to tigerpawl
quote:
Other than taxing the profits from it, how can gov't crackdown on it?
It was just a hypothetical. The U.S. will never ban crypto, but will just tax it.
Posted on 1/23/22 at 1:06 pm to LordSaintly
Yes, the government can outlaw Bitcoin. Just like they outlawed chain letters. Just like they theoretically could outlaw MLM pyramid schemes. Just like they can outlaw gambling.
Posted on 1/23/22 at 1:24 pm to Big_Sur
The government could outlaw Oxygen, but they don't tend to ban something members of Congress are currently invested in.
This post was edited on 1/23/22 at 1:34 pm
Posted on 1/23/22 at 2:08 pm to tenderfoot tigah
Not without selling theirs first 
Posted on 1/23/22 at 3:15 pm to GREENHEAD22
Optimistic? Not sure — I’m hedging my bets and absolutely hoping for the best in this amazing place.
But why the downvotes ?
Man they start outlawing freedoms at any level above what they tried (and failed) through Covid - I’m out. Don’t know why y’all would stay under such a boot like that
But why the downvotes ?
Man they start outlawing freedoms at any level above what they tried (and failed) through Covid - I’m out. Don’t know why y’all would stay under such a boot like that
Posted on 1/23/22 at 11:34 pm to JayDeerTay84
Not really. 2020 was a covid fall but not a real economic correction. We may be seeing a starting of an actual correction now.
Posted on 1/24/22 at 7:11 am to LSUtiger89
Yep, Bitcoin continues to be slaughtered early this morning.
Posted on 1/24/22 at 7:57 am to tenderfoot tigah
quote:
The government could outlaw Oxygen, but they don't tend to ban something members of Congress are currently invested in.
Yes, Bitcoin people, cryptocurrency is as fundamental as Oxygen.
Get a grip! Its a pyramid scheme wrapped in techno-babble.
Only 5 members of congress own any Cryptocurrency ( https://decrypt.co/88354/who-in-congress-owns-crypto).
Posted on 1/24/22 at 8:02 am to Big_Sur
quote:
Get a grip! Its a pyramid scheme wrapped in techno-babble
What is the dollar then?
What about gold?
Can you eat gold? Will it protect you from the elements?
Value can be attached to anything that is limited in supply.
Posted on 1/24/22 at 8:14 am to lechateau
To add to that, what is nearly any asset in existence today? Stocks, real estate, crypto, anything...they all rely on new buyers or new money coming in to push up the price. If that doesn't happen, sell pressure outweighs the buy pressure and price falls. By definition, everything is a ponzi with the type of economy we live in.
Posted on 1/24/22 at 8:23 am to TigerTatorTots
The dollar is backed by the US Government. Governments are actually a good thing - as is their monopoly on violence. We should be trying to extend the US Government's reign as the top dog in the world.
The dollar remaining as the world's currency is critical to the US's strength.
Supporting cryptocurrency is in many ways supporting the very one-world government that Conservatives have been railing against for decades.
You want people to be able to transfer huge sums of money without any government oversight or taxes? Do you want the US Dollar to fail? Are you hoping for the US Government to collapse?
The dollar remaining as the world's currency is critical to the US's strength.
Supporting cryptocurrency is in many ways supporting the very one-world government that Conservatives have been railing against for decades.
You want people to be able to transfer huge sums of money without any government oversight or taxes? Do you want the US Dollar to fail? Are you hoping for the US Government to collapse?
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