Bitcoin Forum

Podcast Topic: Wes Carlson and Omar have an informal discussion on varies topics including the following highlights:

- New people discovering Bitcoin - fear and greed
- How to not get caught up in the day to day Bitcoin price movements
- Congressman claims the US has no capacity to Kill Bitcoin!
- A world denominated in Bitcoin

Recorded: 19 July 2019

https://www.youtube.com/watch?v=gtMp5MijuZw&feature=youtu.be (https://www.youtube.com/watch?v=gtMp5MijuZw&feature=youtu.be)

We can not blame the new people that are entering this kind of currency to really think they can make money out of bitcoin that easily, And these certain people are the victim of fear and greed because they don't have faith in it, a little nudge with the price they will surely sell their hold coins, And these people are very trusting in the FUD that they see.


I guess this is situational if the movement is bear or bull If the movement is Bear then do other stuff and stay away to your wallet and if it is a bull movement then you can always look on positive news and you can sure view your wallet for further increase in profit.


No one can kill Bitcoin, Only the Catastrophic event can sure kill it. (example A meteor hit earth)

The rest of the podcast was actually more informative than the 3 seconds that they spend talking about the government and one senate members opinion on why the government would not be able to stop Bitcoin. Yes, China failed to stop Bitcoin with their firewalls and bans, but it is not to say that a government ban would not have a very negative influence on Bitcoin.

The rest of the world are looking at the example that the USA are giving them and if they start banning Bitcoin, most ignorant smaller countries would not question their actions and just follow their example.  ::)

No one has the capacity to kill bitcoin. We can see that bitcoin has fallen several times. Since it was published in 2009, Bitcoin has experienced massive cyber attacks, scam activities, government regulations, negative news about bitcoin and falling prices but it cannot kill bitcoin.

Bitcoin is even more famous from year to year. And more and more countries are legalizing bitcoin.

I'd like to give my opinion on these two subject

Why would they spend millions of dollars and resources to kill a technology that can help and now being implemented and integrated into the system of so many countries, they should first look at other problems and let Bitcoin out of their sight


I don't know how these things going to be possible, I am just being realistic, we still need fiat some sectors cannot function without fiat, I cannot go to a town without internet without fiat.

Don't see anything with regards to fear but it seems more like an ever-growing, new investment opportunity with very little risk on the longer run. Greed on the other hand comes to bite new adopters with no market knowledge about day trading.


What has the United States not tried to control over the last few decades? - Nothing. They seem to be focused on bringing regulatory norms which would forcibly dethrone Bitcoin from the top and introduce some or the other sort of anarchic systme to replace it.

World is started regonizing bitcoin and many investors are coming to invest on the bitcoin and other cryptocurrencies. We all need to invest on the bitcoin and do more payment options with the bitcoin.
It will automatically increase the growth of the bitcoin.

Of course, the bitcoin is quite popular around the world these days because it's an extraordinary invention.
Bitcoin is a peer-to-peer digital currency that is accessible to anyone from anywhere around the world no boundaries no barriers.
With bitcoin sky is the limit no one can stop you from using your own money, you can buy anything you want unlike fiat money or credit cards. 
 

i dont know how that would be possible for haters to do it but am sure it can never happen in this level of adoption in the market and the way the world is going in to the crypto presently . so btc is getting boom everyday by day only the noobs will quite at this early stage cos of inadequate info.

I agree with him. The reason why the US can't kill Bitcoin is that Bitcoin can't be manipulated. It is not fiat money. But Bitcoin is volatilite and the US government do not want to trust in a currency like that.

If you get to conduct a poll regarding this we can get the truth. Most of the users could've entered into the cryptocurrency just because it paves way to earn. Very few have got the perfect understanding about the technology and all the relative factors that are making a huge change. It isn't easy understanding, and until there is a way to earn people won't let it get killed. This suits with each and every innovation.

Indeed some people who had discover bitcoin these days are interested about investing onto it but we can't easily say things because maybe they had different things on their minds and it can be good or bad, some of them wants to take advantage of it and some just wanted to earn and get opportunities from it. Bitcoin was accepted and adopted by different countries despite of having some issues about its price. I can't see the reason why many people are thinking how it wouldn't last because bitcoin had some problems before and it was capable of dealing with it.

I wonder what's the point of killing though? You need to have a motive to kill bitcoin isn't it?

We have survived the first ten years and I have no doubt that bitcoin will continue to flourish and that last bitcoin could be mine as well. I'm sure everyone here will not going to see that day, however, I still think that even if we exhausted the last bitcoin, it will still move forward and one day could be the scarcest commodity in the future.

True. Bitcoin is way too spread out across the globe. And even if you did terminate the majority of its holders, since bitcoin or rather crypto is not controlled by anyone, the coin would still exist somewhere and would still be able to come back.
This is natural. People are scared of new things and would rather stick to the old ways since they are more experienced with doing that. On the other hand, people who start participating in bitcoin would naturally feel greed with how large its price was in the past and its possibility of repeating that event. Humans are naturally greedy human beings after all.

Is he supporting Bitcoin that is why he is saying this or he is telling the truth I believe in the last part, the truth is it's impossible to stop Cryptocurrency at the current level, we are moving and rolling fast, The United States will have to spend millions of dollars and a lot of effort to stop Cryptocurrency, the Americans are so involved in Cryptocurrency, and they are very active and so many websites related to Cryptocurrency are located in The United States.

New people discovering bitcoin is good for the market, more demand means higher prices, better trades and future of bitcoin. Bitcoin's day to day price action is inevitable, it's natural since it's decentralized. With that being said, Bitcoin cannot be shut down since it forms a mesh network with every node having a copy of the ledger. In terms of the world denominated by Bitcoin, I don't think it would replace currencies since it's more stable because government has policies to do so, making it more desired means of transactions for small and day to day trades of goods.

There's one way I know how government might somehow kill, or control bitcoin in such a way. If they would consider buying all available bitcoins they can manipulate its prices or even dump it. But the possibility of a country to spend their funds to bitcoin is impossible. They are assigning budget to different sectors and it needs to be precised. In order to avoid this scenario to happen, it is good for each of us to accumulate bitcoin.

But government spending money on a thing with a goal of destroying or manipulating it will be close to impossible like you said, but somehow if US decided to do that I think that might help us for a while because of the huge demand that will happen and if US government accumulated all bitcoins available in the market or lets say to be real more than half of the market,that would be a double-edged sword to them as they might lose tons of money too

I think that for the US government to lose several billion dollars in the fall in the price of Bitcoin, these are not significant losses or risks. Even if you take into account the US government to buy Bitcoins for 50 billion dollars.

Why not? 50 billion dollars is very huge and is US will do that to stop bitcoins development, they also don't have a way to retrieve what they putted in it. They should've spent it with their projects or improvements on the infrastructures other than destroying bitcoin because there's no way they can possibly do it, holders of huge volume will not let their holdings to be sold in the current amount which the bitcoin have at the moment.

Since the beginning of Bitcoin, Bitcoin has faced many problems. Now and many are seeking to kill Bitcoin. No one was success to kill bitcoin.But now Bitcoin is becoming more and more popular worldwide. New Investors is coming to invest in Bitcoin. So Bitcoin will go a long way in the future. I think nobody has the capacity to kill Bitcoin.

When more people want to try to kill Bitcoin then it only makes Bitcoin more popular and interesting in the community. How many times have they wanted to hit Bitcoin with a variety of very negative issues but Bitcoin has remained strong. So there is no capacity to kill Bitcoin.

Well mostly or majority of people joined bitcoin not because it can be used to buy something in the market but rather because they want to gain profit. Without earning and profit people will not be engaging in bitcoin right now and will not waste their time maybe they are now busy engaging in forex. Well fear and greed is really present in trading and that does not exclude bitcoin trading.

I also agree that the US government has no capacity to kill bitcoin since there are already thousands of US citizens that are into cryptocurrency and there are companies that are operating using cryptocurrency. Instead of killing it they would just regulate it since it could help in their economy and increase tax collection.

Bitcoin is a technology that benefited a lot of people and it is hardly killable. The government has been trying to regulate and try to destroy it by spreading only bad news or scam surrounding bitcoin and kept those good news and good benefits it caused to people but look, bitcoin still stand on it's ground and it is getting stronger as the day past.

It can be manipulated but in a different way. To manipulate fiat you need to be the government that's all. When you have this power you can do whatever you want. You can also manipulate fiat through debt. There are countries indebted to other countries and this makes them vulnerable to manipulation.
To manipulate Bitcoin you need money and turn that money to mining power or coins that you buy OTC and then dump on the market.

It is sad to hear but this is the truth because other countries do not spend time studying Bitcoin so they can create their own regulations but instead they are just following what the US will do. So it's not surprising that if US collapse then other countries will follow.

Some people have their own interpretation of Bitcoin. They see it as a shortcut to getting rich which is unrealistic. Other people also see it as a threat. I guess some country needs to educate about the importance and risks of Bitcoin and cryptocurrency. Also, no one has the capability to kill Bitcoin. It is well-established and has a strong foundation due to the latest technology. It will surely have a stronger foundation in the future.

I listened to it all. It's a very nice podcast. I liked their positive attitude you can hear they dig it and are ready to defend it against naysayers.

The only way to kill Bitcoin from the outside would be to cut the flow of fiat but for it to happen all countries would have to cooperate and together ban exchanges. They wouldn't have to do anything about mining and crypto - crypto trading. Without the flow of fresh fiat crypto would be dead. Don't worry it will not happen. When was the last time whole world cooperated? Probably in the movies like Independence day and Pacific Rim :D

What example are we talking about here because I have never seen any ban example that the US has laid down, the only thing I heard about the United states last is that trump mentioned some few words against cryptocurrency which is his own opinion, everyone is entitled to their own opinion, and I think that trump is only trying to guard against their USD losing relevance, but they have never openly ban bitcoin.

They have even done more of regulation to me, because we can see how they have asked  binance exchange to open their own exchange that would be dedicated to their citizens and this is for the purpose of being able to control and regulate the activities/ transaction o their US traders in the platform that has been created. There is no country that has even actually placed a ban on bitcoin or cryptocurrency.

Absolutely! Even if US Government declares war against bitcoin I think they are just wasting their time because I do believe that bitcoin is unbeatable and the government has no access to it so it gives them a hard time to capture the founder and also the investors as well. Bitcoin will become more popular all over the world soon and also in the mainstream.

Yeah, you are right. Bitcoin is developed a lot over the past few years. There is no other competitors who can kill the bitcoin not to be more popular among other people especially for the newbies who are trying to invest in Bitcoin project.

I don't think I will agree with you on this. Bitcoin is not that popular around the world. In my country for instance, people who know about Bitcoin here are those into computer programming or are studying computer science or engineering. When you ask about ten people on the street what bitcoin is, only one person out of the ten will have some idea of what bitcoin is. This tells you that bitcoin is not that popular around the world.

These two things don't seem so related to me. If the US economy collapses, some countries will suffer from it, of course, but not because they are following the policies the US is setting for cryptos. It can happen because many countries are economically dependent on such giants as the USA. If the US dollar collapses, however, it can lead to the collapse of many national currencies that are dollar-oriented, sort of. As for other countries adopting the regulations of the USA, I actually don't think it's a common practice. The US is particularly harsh, other countries sometimes take a milder approach on this matter. For instance, in my country, the regulations are still only on the stage of project laws, but those creating them are saying that they take into consideration what the US did, but don't intend to do it in such a strict way.

that if things need to be resulted with violence but i think it wont need,though all your point is possible and valid as US has all the force,tools and people to break everything they thing is against their will.
but we also knew that people of US are gaining from crypto theres no need for destruction
its not the competition that OP is talking about but something powerful mate,and you did not get the point there

It's true that the newcomer of this Bitcoin, as well as a cryptocurrency platform, are seeking the opportunity to make money very rapidly so they people are getting  greedy about the Bitcoin, not only that but also some people are getting afraid of this system, there is a valid reason for this scenario, because we have seen a lot of people who have lost his worth investment from a scam project, that's why it's a fear also in order to enter into this platform. I think without a doubt that Bitcoin is not a fragile issue, so they know that it's not easy to stop this system, also they know a lot of people are engaged within this platform, but if you say about The USA's capacity then I don't agree with you, they could make anything that they need.

Trump is strictly against Bitcoin but the U.S. or any other government is able to destroy Bitcoin. You can't easily defeat a currency, if you can't control it. So, Bitcoin will continue to thrive and reach much better levels.

Nope. Make all Americans suddenly sell their bitcoins, and it would not "crash the markets", only produce a temporary downtrend, soon to be absorbed by the rest of the world.


Nope. There are even nodes in Tor. Short of a bug in Bitcoin itself, there is nothing they can do. This isn't Ethereum...


That maybe, but it wouldn't stop mining. Besides, will your little country risk war with the likes of China and Russia? This isn't Afghanistan and a bunch of guerrilla fighters...


Actually go ahead and try it. The real blockchain would go along, the moment you foolishly freeze yours (Are you even thinking?)


Good luck eradicating computing power from the world.


It would actually be really funny to see them try, please convince them, it would be really embarrassing. Have your so called cyberwarfare unit do it.


Only if large scale mining prevails, which you yourself has already decided to wipe out. The Bitcoin network doesn't care.


PoS is garbage.

And yet you are using the word "Retard". That should look so nice to the moderators...

Where is your power? Go ahead and "stop" bitcoin, it sounds almost as idiotic as ordering the Internet to stop. Maybe you belong to that group?

Do YOU think your little government can do it? We have already discussed a theoretical scenario where ALL governments cannot stop it, yet here you come claiming a single country can. Not it cant, Neither Trump, nor Putin, not all of them together. It was designed for this, like the Internet was designed for nuclear warfare, but you wouldn't know that, would you?

The Net interprets censorship as damage and routes around it. -- John Gilmore

In my opinion no one can kill bitcoin, because bitcoin has a lot of devotees and its market is also big. As much as the USA and China
will not be able to kill bitcoin. To be sure there is no owner of bitcoin, everyone has the right to buy it. And also bitcoin cannot be
controlled by anyone. Unless there is a situation where the entire internet is dead, or we go back to the stone age that can only kill
bitcoin. As long as still there are enthusiasts even though a little bitcoin will continue to exist. Because bitcoin is the future.

No one can kill bitcoin unless every country illegalized bitcoin or Cryptocurrency in their country. The government has no right to control the bitcoin.

No one can kill bitcoin unless no one want to buy it.

Although they will ban and make Bitcoin illegal, still they can't banned Bitcoin as it can access thru internet and there are other ways for you to be able to cash out your fund or profit without directing to banks as there are many remittance center avaialable. But now we can tell that they are slowly adopting crypto so it is very impossible.

No available for community and institution want to kill bitcoin price and have new coin become competitor for bitcoin, many altcoin have claim they are the next bitcoin at the future but after pass with two or three years their price very lower under bitcoin price, last two month have publish with Libra coin become most competitor for bitcoin price but the same thing with other altcoin because until today still not have available for public to buy and invest it.

Agree, at this point it is very hard for it to die. every exchange should delist and street trader should stop. 50 top cryptocurrencies are very sturdy. look at DogeCoin. the development stopped. the coin lives. P2P currency is the future of our society. We can deny that or even try to stop it but that’s the next logical evolutionary step for our monetary systems. Companies that act as a middleman are making insane profits for doing almost nothing. Bitcoin is something else. The price of BTC doesn’t dictate the speed of it's progress. Time does and we need a lot more of it. In my opinion, Bitcoin only dies when something better replaces it. For it's current purpose, there don’t appear to be any contenders as of yet.

Indeed they can't kill bitcoin. Why?
1. More people are adopting bitcoin every year
2. As long as there are people using bitcoin, it will continue. Regardless if some countries will ban bitcoin.
3. The government can't stop people if they really want bitcoin. They cannot control bitcoin because it's not their own.
4. If they will ban bitcoin, some will still continue using it illegally. Just like how others do illegal things because they want to.

They also mentioned Libra coin in association to the topic no capacity to kill bitcoin. In this regard, people might see the goodness and advantage of using libra coin in the future, and if we are going to think if it has a direct effect on bitcoin, for me it hasn't, most of the time we fear about the volume of bitcoin to be divided, and in my opinion, libra is a threat but will surely not have the capacity to make bitcoin suffer. That is because their reputation even before it becomes implemented has already been compromised due to the fact that they are associated with Mark Zuckerberg's privacy issues.

Unfortunately, it can be done. The other thing is that it will be too difficult to do it. Additionally, too many people support Bitcoin and those who even make an attempt to kill it will become the best-hatred persons. I am not sure that anyone is ready to become the object for beating. Thus, BTC will live long.

It's not just the people's greed but also the person/people that educated them about Bitcoin. Some join crypto through Hype and some join crypto through wrong info.

The popularity of bitcoin continues to grow, many people are interested despite knowing the risk is quite large because the price is very volatile. But for those who understand that, it will definitely make it a challenge, not fear. In fact, blockchain has also been increasingly adopted, although there is no direct connection with bitcoin, this paves the way for the general public to get to know bitcoin better. As we know, bitcoin is rumoured to be dead repeatedly, in fact, it can still survive up to now even with very good progress.

-Congressman claims the US has no capacity to Kill Bitcoin!
[/qoute]


Yeah really agree on that statement from the US congressional because bitcoin users difficult to idenfied because of anonymity. And everyone have an right to choose for there future and a lot of US citizen understand what bitcoin capability as digital money.

So the point is that more and more people believe in bitcoin and blockchain technology itself, so that is a strong resistance if nothing will stop bitcoin from being used in many ways. After all, bitcoin is not just an asset as an investment, because bitcoin also still has many other benefits such as a currency that can obviously be used because it has its own exchange value. Anyway, the point you made shows that cryptocurrency dominance will at least always be there even though the ban will happen, because we don't know what will happen in the future, but if we look at the growth of the crypto market until now I'm sure crypto will always be there and become more strong because of its continued growth.

bitcoin is a very sophisticated technology wrapped in blockchain technology that makes bitcoin difficult to turn off, bitcoin will always be there even if there is no electricity and no internet then the bitcoin records will always be there because bitcoin can also be said as big data which is very solid and able to last forever and no one can change the value of the data.

Lol, Libra has nothing to do with bitcoin, and there's now way we should think that it has even the capacity to stop bitcoin at any point, they are not even comparable to each other. Mark Z has it's own issue being the head of it, unlike bitcoin wherein everyone can be Satoshi, so who will the US congress gonna invite?

Which likely will not happen, just in your fantasy. That's an abuse of power and more likely an act of terrorism rather than a government, the US is a democratic country, not communism. They can't confiscate all bitcoins in the US without enough reasons to do so, just because they can don't mean they will.
Keep the hallucinations in your mind, don't mention it here, all of it is crap.

No capacity for killing bitcoin price, many new coin claim they are the best competitor for bitcoin and have higher price than bitcoin. But after release to public price drop under bitcoin, now we are waiting with Libra coin become the next bitcoin where claim by their self, I am not trusted with the Libra coin can fight and have higher price above bitcoin, maybe become shit coin and the same with other altcoin.

Well, people would be really interested in bitcoin on how they would be earning money by investing in it. In the past years, they are not believing how many people are earning a lot of money because of it and they decided late to board the ship. What they should be fearing is their greed since with the volatility of bitcoin, that could be their dead end.


I think this is patience and experience since it is really hard to cope up with the sudden changes. I will not be denying it but I am one of those people that immediately regret investing quickly on bitcoin, I should've known better.


If this is a thing of the future, I think the internet also dominated the world. With almost public information all over the world, people would really need a secure way of holding their money and I guess that is where bitcoin and blockchain goes in.

Yes, at this time not everyone has the capacity to kill bitcoin, but nowadays technology is evolving and more people are contributing  to develop it. Maybe someday someone will find out how to destroy bitcoin and hopefully it will not happen because it is a huge loss to the crypto currency.

If the USA has any capacity to kill Bitcoin then they could make it anytime, but they are not able to demolish this platform, I think nowadays people are discovering Bitcoin as a coin and it's getting popular around the world because of the current worth, If you have a Bitcoin then you are holding a good amount of money so why you don't get attracted to this platform, here is the main advantage is No control or regulation from government, so people feel free to transact and move to this Bitcoin platform, I hope Bitcoin will survive for a long time and it will be the main method of payment in the coming future.

There actually no other coin can kill bitcoin no other crypto. Why could I say that? Let me say to you that bitcoin is the most used cryptocurrency than any other cryptocurrency since it was started. It is used for different purposes, for example, if you want to invest on some ICOs and they are only accepting bitcoin as an investment, there are also different use of bitcoin like if you want to go some trading. You need bitcoin first before you can buy any other crypto token to hold. And also in gambling, if you want to play some gambling online you need to have bitcoin first before you can play because you will use it as your bet on a particular game.

That it is not true, almost all exchanges that do fiat <-> BTC also allow fiat <-> other crypto, without having to first exchange to BTC. Same argument holds for ICOs, many ICOs used Ethereum as a platform and currency, so you don't have to exchange to BTC at all. And also for gambling there are platforms that allow you to gamble with other coins than BTC (eg: Etheroll).
Bitcoin was the first cryptocurrency but that does not make it 'the one'. Nobody knows which cryptocurrency will be succesfull, if any.. If somebody did know, he'd be quite a rich man  :P

Bitcoin will be alive until the moment until you come up with more interesting and profitable concept.

Also because there are some investor who do not want to lose their money because since they hold it for a long time so they didn't want to lose it as a trash.  If you buy bitcoin then there are some person who sold it so meaning if you kill bitcoin then how about the person who hold it or we can say a richer.  If the government want to control bitcoin then they need to buy all the bitcoin to have the power on it.

I agree that Bitcoin cannot be kill, Because Bitcoin is already in use by many countries even recognized for investment. Some countries with the highest popularity of Bitcoin such as Japan, USA, UK, South Korea and Denmark are already using Bitcoin as a means of transactions through online and also for investment. So bitcoin can not be in Kill.

There is no correlation between being used in various countries and can not be killed, it's not those countries that use bitcoin for transactions but the citizens, unless Venezuela.
Bitcoin as decentralized technology can't easily be terminated, as long as the internet exists, so does bitcoin.

But, I don't see the possibility of killing bitcoin, they can only frustrate bitcoin usage and the users thereby dropping the volume, but no matter the frustration, there are some people that cannot be shaken because they know the worth of bitcoin, and they fully understand the technology, so they will not stop using bitcoin.

The only people that I know may fall for the problem are those using it as investment, but for people using it as means of payment, it would be absolutely impossible for them not to use bitcoin after they have already tasted the good thing about it that is not there in the fiat payment they have been using for several decades now, and moreover, you have to also remember that bitcoin is a decentralized technology making its transaction invisible.

The more bitcoin advances, the more it become very difficult to kill it and as just said now that many people are coming together to see how they can develop it the more and how they can create some application that will assist in helping bitcoin in some of the lapses that people feel that it has.

The advance stage that bitcoin is now has really made it even difficult to pass any law to ban bitcoin, because of the numerous benefits of it to people and to government and also the love of people for the coin. Government are not even thinking of killing the system now, but rather thinking of how they can completely regulate it so that it can have a serene environment for those that will be using it for meeting their financial needs and as a protection against the dark web world.

I agree with this person https://twitter.com/APompliano/status/1188845279270723585, I also think the US might not be able to kill it Bitcoin, because their Chinese competitors can be superior to the US, so the US is only a dilemma in making decisions that's all.

Various different countries have already determined that Bitcoin, cryptocurrency and blockchain technology are essentially unstoppable forces at this point.

The nature of decentralization practically means that no single country will be able to simply take down Bitcoin or any sufficiently decentralized crypto for that matter.

Fortunely, governments are centralized, and there is no universal force in the world that could act to crack down on crypto.

Because of this, Bitcoin is forever—unless a critical flaw is discovered that ruins it—highly unlikely.

People are continuously adopting crypto and blockchain technology because they know the progress and the benefits from it. Also it helps our economic problem in terms of unemployment. it serves as alternative source of income which very beneficial.So,why someone needs to kill bitcoin? No one can stop bitcoin as long as there are more and more demand. Being decentralized of bitcoin is one of the bitcoin nature that people liked and patronized.