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
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