Bitcoin Forum

BTC 'Ought to Be Outlawed,' Economist Joseph Stiglitz Says (https://www.coindesk.com/bitcoin-outlawed-economist-joseph-stiglitz-says/):

https://www.youtube.com/watch?v=fy16eIEux7U

The globalists are clearly threatened by BTC.

To outlaw bitcoin would entail complete governmental control of the internet, because bitcoin is decentralized.
He is wrong in thinking bitcoin's value is purely due to exchange; bitcoin also obtains its value by the work of miners.
"One of the main functions of government is to create currency."‽ It certainly has been a function of government to do that, but is creation of currency a "main function" of government?
"They're [cryptocurrency users] relying on a Marxist theory of value and looking at the value of exchange." Isn't the Marxist theory of value that labor creates value?

There you have it. Everything the former Chief Economist want to have is total control on every single person's financial activities. Despise bitcoin, it still is pseudo-anonymous! Use digital fiat that is issued by the government for us to monitor all your financial activities! They clearly know that once most people transitioned over to crypto, they wouldn't have any controls with people's money meaning they would lose power in the long run that's why they are making bitcoin look bad in the masses and they're doing it confidently because they know that people would listen with their bullshit.

And this guy is a Nobel laureate‽

Yeah, that pretty much sums it all up. They want to do away with paper money and just have us use their fiat in digital format. Fiat whose transactions are only carried out by their bankers. All our "money" stored in bank accounts that they can simply shut close for anything.

No, if I'll use digital money, I'll use crypto then, their digital fiat be damned.

Well its quite true that globalists are threatened of the power of bitcoin. Also considering the fact that the value of bitcoin is just booming absolutely without any constraints. But clearly understanding the statement would actually make you realize that he is true that value of bitcoin is actually merely because we have it as an exchange. Consider that no one wants to take bitcoin in return of anything. Nor even anyone ready to pay you fiat in return of bitcoin which is fictitiously worth $10000. Will the value of bitcoin be $10000 to you? Price or value of anything is determined by the demand for that commodity. But Fiat is not really governed by the same principal because its based on the model of trust on Government. So he is right upto an extent.

But ofcourse this doesn't makes BTC valueless because it does have a lot of demand involved. This is what authorities and these globalists fear off. Such a financial system based on blockchain would take the money control on the market to zero. Which means these old traditional strategies of trading stocks would completely changes as crypto market is open to everyday gains/losses. So this might threaten such investors alot.

Okay look anywhere where you have people saying bitcoin should be outlawed or it isn't a currency based on how much it dips or even I don't like bitcoin it is a fraud. These statements all have one thing in common and that is they feel threatened and on top of that they care enough to make public statements about it. This would not be happening if they did not care or their livelihoods were being threatened. Every time I hear something like this I think good bitcoin is right on track!

In his statements, he showed his true self. Bankers are accustomed to working in conditions of total control over all people. They did not expect that you may receive such mechanism as cryptocurrency. They don't know how to install on these asset control and understand that people will massively leave banks. This application of the person concerned and have no interest for me.

The fact that the CEO of the World Bank is saying that Bitcoin should be outlawed is an obvious reason to see why it shouldn't be outlawed. Think about it, banks are so scared of this new Blockchain technology and they legitimately want to destroy Bitcoin as fast as they can. It is only a matter of time before we see a major war between on crypto by banks, but unfortunately for them they don't have the possibility to stop is because crypto is decentralized - there isn't any actually enemy to fight against. ;D

When people say things like "BITCOIN SHOULD BE OUTLAWED". I wonder where their message comes from. Are they speaking from their own attempt at being objective? Or are they merely pushing an agenda on behalf of special interests or another party?

There may be a relevent question about journalism in this day and age where it might do well to question where things people in the media say, come from. In school some teachers said skepticism can be a virtue. Perhaps what they meant is, being skeptical of people like Joseph Stiglitz and not believing everything our purported exports say has potential to represent good policy.

They are saying that because they old school thinking, theres nothing to afraid about bitcoin I guess. Those people talking negative about it can't adopt economic shift, thats why they stick to traditional banking system.