I don't know how to make it any plainer - it has nothing to do with how decentralized a cryptocurrency is.
Yes it does.
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.
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.
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).
Now you look like a nut. Cash isn’t going anywhere. And you can still barter for bitcoin.
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.
Aren’t you the master predictor of “out my ass”?
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?
I don’t think this nonsense deserves a reply.
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 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
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
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