Bitcoin lost 10% since Biden FED pick Yellen announced the war against crypto currencies
🥾🔨 BURN, LOOT, MURDER 🔨🥾
Biden voters are the most stupid motherfuckers on the planet
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Biden voters are the most stupid motherfuckers on the planet
I’m going to say this again because people on this site don’t seem to believe me: Eventually the Fed bankers will have their puppets in government outlaw any other form of crypto except theirs. Then they will track every purchase you ever make from here going forward. Crypto currency will eventually lead to the mark of the beast as computers give full accountability from end to end all neatly tucked and stored in databases. Something cash doesn’t give them now. I’m not replying any more on this subject because proponents of crypto don’t seem to get that idea.
XMR
I'm not pro or con (I'm actually cozy with the idea of using BTC to buy stuff), but you might want to go back up and re-read the part where all forms of crypto become illegal - save for whatever is blessed, taxable, and trackable by the Fed.
You can still use the stuff for purchases... but if you get caught, the consequence is liable to hurt. If they can track/control your money fully, it wouldn't take much to ML your spending habits, find anomalies in those habits, and then come knocking with a warrant to inspect every electronic device you own in a search for outlaw crypto (and they may not even have to come to your door to do it).
( /Neal Stephenson has entered the chat... )
Seriously, the permutations are, let's say, frightening as fuck, unless we get in some specifically enumerated digital rights, and ASAP.
I can't understand why anyone wants a cashless society.
Talking out my ass but I think they will want bitcoin to get up near a million and then wipe it out somehow
You can’t ban bitcoin, don’t be a noob
I know that.
Okay this is an EXTREMELY important topic, as the dollar (that thing I've spent years and years saving and now I'm staring worthless paper in the face) is going to be printed into oblivion. How, exactly, can these currencies be controlled by government? The entire reason for their existence is for them to be decentralized.
usually leftists are big supporters
What a dumb fucking post. Clearly you’re a noob to crypto if you think news, let alone US politics, has an effect on bitcoins price
President Asterisk has the Fed announce that all forms of crypto except FEDCOIN(tm) are now illegal to use or conduct purchases with.
Oh, by the way, cash is also outlawed. So is Gold and Silver as a form of currency, and both are delisted on any US-approved exchange ( /Franklin Roosevelt's Ghost enters the chat )
You're using FEDCOIN (FCN) from now on. For the first 90 days, your money will be exchanges at a $1USD - 1FCN ratio. Days 91-180 is a $1 - 0.5 FCN ratio. Starting Day 181, USD becomes worthless and un-honored as a form of US currency.
Oh, don't worry about doing all the computer stuff - the banks will do it for you and handle it on your credit/debit cards and NFP devices. Payment processors will similarly handle FCN like any other form of money, eventually fading out USD handling at the 6-month mark, as scheduled.
Bonus - if you make less than 400k in FCN a yr, you don't have to file taxes anymore - we'll just do that for you, unless you're a corporation, run a non-profit, or are a special-status citizen (where all the loopholes come into play).
In special partnership with all major payment processors, all of your financial transactions will now be trackable. If your spending habits show any unusual changes or anomalies, expect a knock on the door by the feds.
Again, your showing your crypto noob ness.
You cannot ban bitcoin. China tried and its use went up 4 times, Venezuela tried and its used went up 10x.
You cannot ban person-to-person exchanges for cash to bitcoin.
You cannot ban decentralized exchanges that require no identity verification.
I don't know how to make it any plainer - it has nothing to do with how decentralized a cryptocurrency is.
In this scenario, if they seize your devices and find evidence of any of a non-blessed cryptocurrency (or evidence of you using any of it), you'll get arrested. Cash will by necessity get deprecated along the way (as mentioned), so there is no "cash to bitcoin" exchange going on if the US Government deprecates and stops honoring physical money (especially fiat paper money). Any other means of exchange (e.g. traveler's checks, money orders, etc) would go away as well, since a purely electronic payment system tied to a card and/or device won't need them, so they can be outlawed easily.
Minus the existence of physical cash, they can monitor your purchasing patterns very easily, since it's all electronic at that point - it's just a simple query. If they notice that you just bought a new house with a big down payment that that doesn't correlate to your income, a red flag goes up. If you make any large(ish) purchase and ML says that your bank account should not be able to do that, you get a red flag. If you buy that car with BTC, how do you intend to register it once non-physical money becomes the norm, since the DMV/DOT by that point can just do a quick query and notice that, oh, hey - you didn't use the government-blessed currency to buy it?
Once the US gets smart enough to make their money all digital, the rest is just modifying a set of regulations that they already have in place for banks now ( for instance, ever try to deposit more than $10k USD into your bank or credit union? Guess what happens? ) That way they won't need to slowly construct a warrant - the banks will just rat you out and a warrant can be automatically issued.
BTW, China and Venezuela do not curate the global monetary standard... the US does - and unlike China and/or Venezuela, the US Government has the NSA on-tap.
Preen all you like, but if you think you can out-smart the Fed once they decide they want BTC and the like dead, well, good luck with that I guess.
I can tell you don’t know anything about Bitcoin.
Except that all you need to own and hold bitcoin is a mnemonic seed. I don’t posses any bitcoin wallets, but I have my passphrase engraved on my ring. Many others hide bitcoin in art or paintings. Again, you can’t ban it. This is what you don’t get.
This is of course ignoring your fringe theory that will never happen. Is bitcoin getting banned? It’s not.
Now you look like a nut. Cash isn’t going anywhere. And you can still barter for bitcoin.
Aren’t you the master predictor of “out my ass”?
I don’t think this nonsense deserves a reply.
I will, being in bitcoin for ten years - I learned a thing or two about it’s potential and future. You’re still learning.
Don't bother. I'm with you, but over the years, I've learned to not engage with people who have no understanding of how blockchain tech and various cryptocurrencies work — and it's really obvious when you're talking to one. It takes a long time to fully comprehend the technology, so it's patently obvious when you're talking to someone who's only read a few articles, forum posts, or youtube videos about it. And this entire take is based on a 10% swing. Lol... I've watched significantly larger swings happen in a matter of minutes in this sphere, often multiple times in both directions
well, fuck me then, lol
Normal? No, of course not, it's a completely new tech. Healthy? Yeah, if you know what you're doing. A continual trend up for over 10 years is, by definition, healthy, regardless of volatility. And at this point, it is normal, when it's been going this way for over 10 years. And with every media fear-porn "CRYPTO CRASH!!!!" article, you'll find there wasn't even a crash, and it's still up tens to hundreds of percent where the price was was earlier. In 2018, BTC dropped from 20k to ~6k, and everyone screamed DOOM/CRASH! When they failed to mention that it started that run a month earlier at a price just over $1,000. Is $1,000 to $6,000 a crash? Nope.
So for anyone that's been in the space for 10 years, or even 4-5, you can see these trends. They are patently obvious. And those large swings are MASSIVE opportunities. So massive, in fact, that me, when I was making only about $35k a year, DCAd about $8k in a few years ago. With basic knowledge of TA and following the charts and learning the trends that continually repeat, I was able to make trades that have netted me in 6 figures of profit. This is profit/taken off the table, and not even mentioning still having that initial investment in, and now being worth over 20x the initial investment.
But w/e, it doesn't hurt me when people doubt. I continue making 6 figures a year despite holding a job just barely at the average income in my state, hardly above the poverty line. So put your money in a mutual fund — completely normal, safe, and healthy — and enjoy your gains. I'll continue diversifying, and holding assets in traditional stocks, mutual funds, indexes, and yes, crypto, which has vastly outperformed everything else in the last 6 years that I've been in. Not here to shill, I don't care if you don't make money, but it's a great opportunity if you spend the time to educate yourself on the technology, spend time checking charts daily, because the trend is your friend (and surprisingly predictable). If it doesn't interest you, that's fine, but don't come in shitting on something when it's patently obvious you don't know what you're talking about (that's more towards OP/not you)
Cheers.
edit - and fwiw — that "massive drop" OP wrote about. Well, since then, we've seen more swings, it's up now, wiith ETH breaking its ATH yesterday (again), continuing to go up, and I made a few modest trades that made me ~$5k just in a few days, trading a small portion of my holdings. BTC was around $22k on 12/20; roughly a month later it's at ~33k. But wE jUsT hAd A hUgE cRaSh. Price discovery is also a thing, and in this sphere, yes, it leads to wild volatility when it's going parabolic. Unfortunately, people who don't know what they're doing buy in and FOMO during these major upswings and get burnt because they don't understand the incredibly basic idea of, ya know... not buying at an ATH. Then they panic selll and go on to write about what a scam and ponzi scheme with no inherent value it all is, despite literally being capable of ushering in internet 3.0
you're a fucking moron
I’ve been in bitcoin for 10 years bud. You cannot ban decentralized exchanges and in person trading.
China and Venezuela couldn’t ban it, its use skyrocket after “banning”
What does this have to do with the undeniable fact that negative news about bitcoin influence the price of bitcoin.
Bitcoin will be beyond 40k in a matter of weeks, or less. The price has fluctuated daily for years and has no bearing on political news. Again, I’ve been it bitcoin for 10 YEARS.
Ok billionaire
Correlation does not necessitate causation. But there is a high correlation to causation.
If you don't like price volatility, you could use DAI, a decentralized stable coin built on Ethereum smart contracts. It's supply change when people exchange to and form that which means it's always gonna be worth $1.
And it's still a cryptocurrency running on the Ethereum chain, with thousands of nodes spread across the world, and most of the mining taking place in the west. So nobody can control it, nobody can confiscate it, and nobody can track it, unless you tell everyone which wallet is yours.
Oh, and since it's essentially Ethereum you could mine it to, that's right, literally mining dollars using regular ordinary GPU's.