re: Official CryptoTalk Thread

Ray Dailo

he's also speaking at the Texas a&m bitcoin conference

Damn, I was hoping this post-Dailo comment dip in would drop BTC to 50k but doesn't look like it. I'll probably put in a limit order just in case.

Buy the dip!

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Ban bitcoin

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I just don’t understand why anyone would ever think this is a good idea or ever going to happen.

It wouldn’t be enforceable for the common man with a cold wallet, and the exchanges that operate offshore would still be accessible.

But is it smart to take the treasury reserve asset that your nation’s top institutions are using and force them to give it up? No. It’s absurdly stupid. It would lead to capital flight and would put us squarely behind other economies that actually try and evolve with the times. It would also show that the USD has a very real reason to fear debasement to the international community that would still be able to invest in BTC.

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But is it smart to take the treasury reserve asset that your nation’s top institutions are using and force them to give it up? No. It’s absurdly stupid. It would lead to capital flight and would put us squarely behind other economies that actually try and evolve with the times. It would also show that the USD has a very real reason to fear debasement to the international community that would still be able to invest in BTC.

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yeah, it would be incredibly dumb to ban a trillion-dollar plus asset class. even so, countries might try to ban it BUT not every country will, thats the game theory behind it all

with that said, i believe the ETH people will eventually spread fear about PoW coins and going green and saving the environment once they switch to PoS. that does seem inevitable

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I just don’t understand why anyone would ever think this is a good idea or ever going to happen.

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It can definitely happen but I think only if the dollar was under serious pressure and in the process of collapsing. Don’t underestimate how totalitarian the US Federal government is and how they might lash out if they are losing their power to print

There is no viable enforcement mechanism though. It would wreck public companies but anyone with a cold wallet and a VPN could literally proceed with minimal issue. What would they require the public companies do? Send the BTC to the federal government?

idk it seems like it would fail hilariously

i'm gonna use a r/wallstreetbets phrase and saying it's "priming for lift off"

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There is no viable enforcement mechanism though. It would wreck public companies but anyone with a cold wallet and a VPN could literally proceed with minimal issue. What would they require the public companies do? Send the BTC to the federal government?

idk it seems like it would fail hilariously

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anyone that thinks banning botcoin could happen or will happen, is not educated on the mechanisms in which btc works and on using the Tails sytem to get around any safe guards the US government puts in place.

I think its so funny people worrying about htis. The US government has been in an all out war against drugs, illegal gambling, the mafia, etc for decades now....how is that working out?

The only time the US would risk doing that is if the dollar is collapsing and they would do it as a lashing out of sorts and throwing a tatrum. If the dollar is failing, wtf do you think people are going to turn to?

Is there anyone that believes every country on earth would ban it? does anyone really beleive some country wont allow tumbling services to be setup there for a cut of the money?

Does anyone really beleive that all of the sudden the cartels and other drug dealers have lost their ability to be able to perform BTC transactions and hide them? GTFO.

If the US government is so good at stopping things why dont they make murder illegal and stop that?


btw anyone that is surprised by this dip....if you were on the altcoin collective channel you wouldnt be.

Explaining BTC price movements in hindsight is sort of like crawfish prices in South Louisiana. It's always too hot or too cold or too much rain or not enough rain or whatever to explain why crawfish prices were high or low that year. Everyone just clings to whatever narrative makes them feel the best.

youre absolutely right

but i do think a potential trend could be emerging with options - something to pay attention too