Five Reasons Why Governments Won't Ban Bitcoin And Can't ...
https://bitcoinist.com/five-reasons-why-governments-wont-ban-bitcoin-and-cant-stop-crypto
If companies continue to get behind Bitcoin in this way, and the market cap grows to $1 trillion or more, the impact of a government ban would be too considerable to warrant it. The reasons could go on and on as to why governments won’t ban Bitcoin, and even if they do, there’s simply no stopping it.
To break this down, you have to look at it from two aspects: the technical and the price aspect.
Technologically, nothing will happen. The network will still have thousands of nodes and miners spread around the world. And as long as a few nodes are online somewhere in the world and has connectivity to each others, Bitcoin will continue to exist and be fully operational.
Price may be affected, but you also have to keep in mind that price is just the average exchange rate to a large quantity of fiat currencies, as well as other assets you can exchange to Bitcoin, like gold and silver, it depends on where in the world you are.
So in the event the US government outlaws it, many nodes and miners will disappear from the US, and many Americans who are loyal to the Biden administration and this current clown government will sell and keep their soon to be worthless USD in a bank account.
Many will ignore the ban, and keep mine, keep their nodes online, and keep using Bitcoin. At least until there is consequences such as punishments that are actually enforced, and that the government can actually find out what you're doing.
All crypto related software supports VPN and proxies so you can hide it all pretty well. If you mine Ethereum on your gaming PC with 3 or 4 GPU's there's no way for the government to tell the difference between your gaming PC and a mining device. We're talking about something that would be nearly impossible to enforce, unless the government goes total fascist and forcefully search every home for devices that could be used for mining, which is basically any computer, phone, IoT device, server and so on.
If Feds decided to ban it (Federal reserve?) most people would just laugh because they have no authority to make such decision and they wouldn't be able to enforce it. It has to be governments. And the fact that there are 195 countries in the world means it's very unlikely that everyone would agree to ban crypto at the same time, especially if the idea comes from the US, many countries like China, Russia, North Korea, Iran and many more would just laugh and do the opposite, legalize it.
Hey, let's write a 100% open source software that can do peer to peer transactions, that give users 100% control with key pairs, limited supply with predictable and fair inflation and store value...
What do you mean people no longer need banks? what do you mean we can't see what people do? what do you mean we cannot confiscate peoples money? what do you mean we cannot inflate it and put the profit in our own pockets? damn, we sure screwed this up didn't we - The deep state
I'm not here to persuade you, I'm trying to figure out what made you change your mind. What makes you think it's a deep state trap? And how exactly would they use it, what advantage does crypto give the deep state over the dollar, which they already control.
I am at work so i have to be brief, but one factor is that btc sucks wealth from other currencies, which is then turned back into usd and either burned or used for black ops. The entire crypto market incredibly manipulated, and while a person may be able to extract wealth from it in the short term, i believe the endgame is for an AI trading algorithm to obtain a majority of the worlds wealth and lock it up on the ledger. The myth of btc being anon is short term and someday there will be a crack in that wall. Lastly, tether is a time bomb waiting to explode, and will be used most likely during a bull run the DS didnt initiate (this last one was TOTALLY fabricated by “institutional investors”) and may be deployed to correct a situation like the GME shit we are seeing. Make money while you can, and best of lick to you, but i really strongly believe crypto is a tool of our enemies and not what it is being marketed as
but one factor is that btc sucks wealth from other currencies, which is then turned back into usd
There will only ever be 21 000 000 BTC in existence and currently a bit over 18 000 000 has been mined, don't trust my word tho. Compile and sync your own node to the network to get the exact number.
I'm no expert in fiat currencies but if this is the case, then it's a problem with fiat and not with crypto, they could basically run the exact same scheme with gold, but shall we really blame gold for that?
The entire crypto market incredibly manipulated
Every market with fractional reserves of something is heavily manipulated: fiat, stocks, gold & silver certificates and crypto certificates. The solution is simple, get the real thing, and the real thing only. E.g avoid fiat at all cost, but if you have to use it, use cash as long as possible.
Don't get stocks, that whole $GME scandal exposed to the average Joe how manipulated the stock market actually is, it's rigged against you. Gold & silver, get the physical thing only and put in your vault, same with crypto, keep it in your local wallet, never on an exchange.
The myth of btc being anon is short term and someday there will be a crack in that wall.
AES-256 is the most secure encryption we have today, if it's cracked we're gonna have bigger issues to deal with than anonymity in cryptocurrency, and while the world is busy there's plenty of time to fork into a different algorithm that hasn't been cracked.
The fact that no-one can confiscate it from you, is also far more valuable than anonymity, which you'll have as long as you don't link your own identity to your transaction history. Analyze the threat and take necessary precocious. Crypto is just a tool, it's up to you to use it responsibly.
Lastly, tether is a time bomb waiting to explode, and will be used most likely during a bull run the DS didnt initiate (this last one was TOTALLY fabricated by “institutional investors”)
Tether is unregulated USD, anyone with a brain can see how fucked up that is. But claiming that has some effect on cryptocurrency as a whole is like saying that a bunch of paper slips with number on them, that I just wrote could somehow affect the price of your house, or your car.
When tether explodes, the price will adjust to the real market value. Just like it will do for silver and gold when the certificate scam falls apart, which is essentially brokers selling fake silver and gold.
Not all exchanges use tether, some have their own stablecoins, other uses real fiat currencies. When tether falls apart, the tether pairs will just be de listed and the price determined by the other stablecoins or the real fiat currencies. This means a temporary lower volume which could lead to a massive spike or dip, but eventually the price will stabelize. Bitcoin in particular has pretty big volume on most real fiat currencies, which you can see here: https://coinmarketcap.com/currencies/bitcoin/markets/
Can Governments Stop Bitcoin? Governments probably can’t stop Bitcoin, and some of them may not want to.
https://straightlinelogic.com/2021/02/24/can-governments-stop-bitcoin-by-alex-gladstein/
Five Reasons Why Governments Won't Ban Bitcoin And Can't ... https://bitcoinist.com/five-reasons-why-governments-wont-ban-bitcoin-and-cant-stop-crypto If companies continue to get behind Bitcoin in this way, and the market cap grows to $1 trillion or more, the impact of a government ban would be too considerable to warrant it. The reasons could go on and on as to why governments won’t ban Bitcoin, and even if they do, there’s simply no stopping it.
To break this down, you have to look at it from two aspects: the technical and the price aspect.
Technologically, nothing will happen. The network will still have thousands of nodes and miners spread around the world. And as long as a few nodes are online somewhere in the world and has connectivity to each others, Bitcoin will continue to exist and be fully operational.
Price may be affected, but you also have to keep in mind that price is just the average exchange rate to a large quantity of fiat currencies, as well as other assets you can exchange to Bitcoin, like gold and silver, it depends on where in the world you are.
So in the event the US government outlaws it, many nodes and miners will disappear from the US, and many Americans who are loyal to the Biden administration and this current clown government will sell and keep their soon to be worthless USD in a bank account.
Many will ignore the ban, and keep mine, keep their nodes online, and keep using Bitcoin. At least until there is consequences such as punishments that are actually enforced, and that the government can actually find out what you're doing.
All crypto related software supports VPN and proxies so you can hide it all pretty well. If you mine Ethereum on your gaming PC with 3 or 4 GPU's there's no way for the government to tell the difference between your gaming PC and a mining device. We're talking about something that would be nearly impossible to enforce, unless the government goes total fascist and forcefully search every home for devices that could be used for mining, which is basically any computer, phone, IoT device, server and so on.
If Feds decided to ban it (Federal reserve?) most people would just laugh because they have no authority to make such decision and they wouldn't be able to enforce it. It has to be governments. And the fact that there are 195 countries in the world means it's very unlikely that everyone would agree to ban crypto at the same time, especially if the idea comes from the US, many countries like China, Russia, North Korea, Iran and many more would just laugh and do the opposite, legalize it.
there are currently 100 million bitcoin wallets in the world and that number is growing.
more users means more secure bitcoin blockchain
more users will make it harder to make it illegal
Don't tell them. Get a vpn and use offshore accounts. Keep your BTC offline.
Btc is a deepstate trap. You’ve been warned
Hey, let's write a 100% open source software that can do peer to peer transactions, that give users 100% control with key pairs, limited supply with predictable and fair inflation and store value...
What do you mean people no longer need banks? what do you mean we can't see what people do? what do you mean we cannot confiscate peoples money? what do you mean we cannot inflate it and put the profit in our own pockets? damn, we sure screwed this up didn't we - The deep state
Nice copy paste. I know all of this. I used to have crypto. Your comment does zero -nothing- to persuade me.
I'm not here to persuade you, I'm trying to figure out what made you change your mind. What makes you think it's a deep state trap? And how exactly would they use it, what advantage does crypto give the deep state over the dollar, which they already control.
I am at work so i have to be brief, but one factor is that btc sucks wealth from other currencies, which is then turned back into usd and either burned or used for black ops. The entire crypto market incredibly manipulated, and while a person may be able to extract wealth from it in the short term, i believe the endgame is for an AI trading algorithm to obtain a majority of the worlds wealth and lock it up on the ledger. The myth of btc being anon is short term and someday there will be a crack in that wall. Lastly, tether is a time bomb waiting to explode, and will be used most likely during a bull run the DS didnt initiate (this last one was TOTALLY fabricated by “institutional investors”) and may be deployed to correct a situation like the GME shit we are seeing. Make money while you can, and best of lick to you, but i really strongly believe crypto is a tool of our enemies and not what it is being marketed as
There will only ever be 21 000 000 BTC in existence and currently a bit over 18 000 000 has been mined, don't trust my word tho. Compile and sync your own node to the network to get the exact number.
I'm no expert in fiat currencies but if this is the case, then it's a problem with fiat and not with crypto, they could basically run the exact same scheme with gold, but shall we really blame gold for that?
Every market with fractional reserves of something is heavily manipulated: fiat, stocks, gold & silver certificates and crypto certificates. The solution is simple, get the real thing, and the real thing only. E.g avoid fiat at all cost, but if you have to use it, use cash as long as possible.
Don't get stocks, that whole $GME scandal exposed to the average Joe how manipulated the stock market actually is, it's rigged against you. Gold & silver, get the physical thing only and put in your vault, same with crypto, keep it in your local wallet, never on an exchange.
AES-256 is the most secure encryption we have today, if it's cracked we're gonna have bigger issues to deal with than anonymity in cryptocurrency, and while the world is busy there's plenty of time to fork into a different algorithm that hasn't been cracked.
The fact that no-one can confiscate it from you, is also far more valuable than anonymity, which you'll have as long as you don't link your own identity to your transaction history. Analyze the threat and take necessary precocious. Crypto is just a tool, it's up to you to use it responsibly.
Tether is unregulated USD, anyone with a brain can see how fucked up that is. But claiming that has some effect on cryptocurrency as a whole is like saying that a bunch of paper slips with number on them, that I just wrote could somehow affect the price of your house, or your car.
When tether explodes, the price will adjust to the real market value. Just like it will do for silver and gold when the certificate scam falls apart, which is essentially brokers selling fake silver and gold.
Not all exchanges use tether, some have their own stablecoins, other uses real fiat currencies. When tether falls apart, the tether pairs will just be de listed and the price determined by the other stablecoins or the real fiat currencies. This means a temporary lower volume which could lead to a massive spike or dip, but eventually the price will stabelize. Bitcoin in particular has pretty big volume on most real fiat currencies, which you can see here: https://coinmarketcap.com/currencies/bitcoin/markets/