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Posted on 2/12/21 at 6:48 am to rocket31
quote:
if youre spending bitcoin over fiat as a currency you need your head examined
owning bitcoin is like owning beachfront property in malibu in the 1960s, except most people are not smart enough to realize it ...yet
Remember when it was hailed as the replacement for the dollar? The pivot on the marketing of BTC has been interesting to watch.
Posted on 2/12/21 at 6:49 am to xxTIMMYxx
Anyone that believes the nations of the world, especially the US, are going to relinquish control of “currency” is foolish. Bitcoin exists because they allow it. When they decide not to, it will be worth what they say and that could be nothing.
Posted on 2/12/21 at 6:57 am to Dawgfanman
and how are they going to stop it?
Posted on 2/12/21 at 7:12 am to Ross
quote:
and how are they going to stop it?
They could declare it illegal today, they could tax the shite out of it, they could seize it.
The govts of the world control a regulate damn near every aspect of our lives. This isn’t something they will give up without a fight.
Posted on 2/12/21 at 7:16 am to Dawgfanman
Bitcoin/crypto is the future. Banks have no control over price of Bitcoin. They had no choice but to accept it as it is a form of currency. Once companies began accepting it it took off. Most alt coin is a derivative of Bitcoin.
Posted on 2/12/21 at 7:19 am to Dawgfanman
I think it’s a losing fight. You gonna go around tearing down peoples houses to find a glorified flash drive? They don’t have the resources or ability to enforce anything like that at scale if there is a mainstream adoption of cryptos without taking out the entire internet; and personally I think there is and will be more than enough demand for cryptos even in a black market environment. The exchanges may have to move offshore or you’d need to use different exchanges to move from USD to crypto, but as long as the demand is there making it illegal may only serve to make it more valuable.
I don’t see how they could ever hope to stop peer to peer transactions at any level.
I don’t see how they could ever hope to stop peer to peer transactions at any level.
This post was edited on 2/12/21 at 7:23 am
Posted on 2/12/21 at 7:29 am to Dawgfanman
Ultimately, the people will have to choose where to place their trust: government backed currencies or cryptocurrencies.
For governments to begin censoring cryptocurrencies is an outright power grab. It's an open admission by the state that it will force its own will upon its people.
For governments to begin censoring cryptocurrencies is an outright power grab. It's an open admission by the state that it will force its own will upon its people.
Posted on 2/12/21 at 7:29 am to Ross
quote:
I think it’s a losing fight. You gonna go around tearing down peoples houses to find a glorified flash drive? They don’t have the resources or ability to enforce anything like that at scale if there is a mainstream adoption of cryptos without taking out the entire internet; and personally I think there is and will be more than enough demand for cryptos even in a black market environment. The exchanges may have to move offshore or you’d need to use different exchanges but as long as the demand is there making it illegal may only serve to make it more valuable.
Ultimately all “bans” or prohibitions fail if people want to continue using something. But the timeframe from the govt attempting to exert control until it relinquishes it can be very long. Look back at the control the US exerted over gold ownership and gold prices for almost a half century.
Posted on 2/12/21 at 7:34 am to Douglas Quaid
quote:
For governments to begin censoring cryptocurrencies is an outright power grab. It's an open admission by the state that it will force its own will upon its people.
Isn’t that how we’ve been moving recently? If they can tell you when/where/how you can get a haircut, worship your chosen god, or what you can say to others..is it hard to comprehend them attempting to control/ban/tax/regulate crypto currencies?
You already see this desire and it’s “justification” being floated by various politicians. They talk of its use for illicit transactions, it’s speculative nature, the need to ensure people are “protected”...this is them laying the groundwork.
Posted on 2/12/21 at 7:42 am to Dawgfanman
CNBC just showing Miami mayor discussing taking bitcoin as payment, for taxes and such.
Won’t this require that the value be more stable? Who would decide what that value might be?
Won’t this require that the value be more stable? Who would decide what that value might be?
Posted on 2/12/21 at 7:44 am to Dawgfanman
"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary."
H. L. Mencken
Government left unchecked will only attempt to increase its power. Cryptocurrencies represent a long term existential threat to government power.
Once you see it you can't unsee it.
H. L. Mencken
Government left unchecked will only attempt to increase its power. Cryptocurrencies represent a long term existential threat to government power.
Once you see it you can't unsee it.
Posted on 2/12/21 at 7:49 am to Dawgfanman
quote:
Ultimately all “bans” or prohibitions fail if people want to continue using something. But the timeframe from the govt attempting to exert control until it relinquishes it can be very long. Look back at the control the US exerted over gold ownership and gold prices for almost a half century.
I think they’ll find cryptos much harder to confiscate and regulate than gold.
The market is moving away from fiat. They can either get with the program or go down in history alongside dinosaurs
Posted on 2/12/21 at 7:49 am to wizard1183
quote:
Bitcoin/crypto is the future. Banks have no control over price of Bitcoin. They had no choice but to accept it as it is a form of currency
Because it’s finite in supply?
how is this different from a Michael Jordan rookie card?
when I think of Bitcoin my mind immediately goes to “digital collectible”
I’m probably wrong and if so, so be it.
I just don’t understand how it’s remarkably different from that
Posted on 2/12/21 at 7:55 am to cgrand
well it’s kind of hard to engage in a transaction online with a baseball card as a digital medium of exchange
Convenience and the security afforded by the software are the key differences there
Convenience and the security afforded by the software are the key differences there
Posted on 2/12/21 at 8:06 am to cgrand
But Bitcoin isn’t the only coin available. Look at ethereum. 1500. I remember 4 yrs ago it was 55. Bitcoin hits 100k ethereum hits 20k
Posted on 2/12/21 at 8:18 am to Ross
quote:
I think it’s a losing fight. You gonna go around tearing down peoples houses to find a glorified flash drive? They don’t have the resources or ability to enforce anything like that at scale if there is a mainstream adoption of cryptos without taking out the entire internet; and personally I think there is and will be more than enough demand for cryptos even in a black market environment. The exchanges may have to move offshore or you’d need to use different exchanges to move from USD to crypto, but as long as the demand is there making it illegal may only serve to make it more valuable.
I don’t see how they could ever hope to stop peer to peer transactions at any level.
What if banks/gov collectively refuse to convert crypto into fiat?
Crypto is exploding at the moment because there is a lot of cheap money out there and people don't have many options on where to put it. The same reason stocks have been going nuts.
If for whatever it becomes much more difficult to convert crypto into fiat currency then you could have a real problem on your hands.
Posted on 2/12/21 at 8:29 am to playmakers in space
I don’t know of any banks that do it now. The crypto exchanges do.
Posted on 2/12/21 at 8:30 am to wizard1183
quote:ETH typically runs 5-12% of BTC
Bitcoin hits 100k ethereum hits 20k
Posted on 2/12/21 at 8:31 am to down time
quote:Bitcoin is about 12 years old right now. I think it is entirely possible for a better coin to come along but it would have to also have all the other properties that make bitcoin what it is (deflationary, decentralized, irreversible). Given that bitcoin is just now becoming mainstream, with momentum building everyday, I don't see how another coin takes over within 10 years. 15-20 years? Entirely possible. If bitcoin does become a world reserve settlement layer, it will be here for good.
But what happens in 10 years? What if someone makes a better coin? Bill gates talked about this in an interview once.
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