Bitcoin Forum

I hope everyone is ready for it, because it's going to be the biggest test in your HODLING abilities, and resolve.

What would transpire is the biggest socio-political/socio-psychological attack that the community would ever see, and it would involve state-level actors/governments.

Prepare yourselves. It's coming.

I thought we've already seen it's biggest battle when it dropped bitcoin to $3200, if this one is bigger, then probably we will go back to $1000.

that is great news if that battle is coming because that battle is the last step for bitcoin to reach the final step of "winning". First they ignore you, then they laugh at you, then they fight you, then you win. i still think we are in the stages of being laughed at and less fight against bitcoin although we are transitioning into that step.


not all battles are about price you know. during such battle we may even see price shoot up to $1 million!

I just made a post on this you right, the battle will only weaken the $lave $ystem fiat even more.

https://bitcointalk.org/index.php?topic=5165962.msg51851360#msg51851360

They are launching direct nukes at their own system by talking about bitcoin. Keep in mind who owns the news, they are creating fake stories about bitcoin, left, right and center.


First they ignore you,    then they laugh at you,                                 then they fight you,       then you win.
^ they did that,           ^ they did that "thin air, bitcoins not money",       ^ We are at this stage  ^this will be the outcome.

I don't know where the market goes, but I believe we haven't seen serious concerns from "them" like this before. For the first time, the state-level actors are concerned about losing their power/monopoly over money/currency creation/printing.

Do you care to give us a little clue? Without which, this would appear another common FUD. The battles that Bitcoin has been fighting are numerous. It cannot be counted anymore. In fact, Bitcoin has died a countless times. It has been buried for the nth time. In the earliest years of Bitcoin's existence, especially in its infancy, there was almost no one who believed in it. Is there a harder battle to wage than starting it with only a handful of believers and the most powerful people of the government and the banking industry against it?

Well technically the biggest battle for bitcoins life in price terms was back in 2011 when it fell from $32 to $0.01 so yeah.....But if you are talking in terms of censorship,FUD and competition from centralised "coins" then i am inclined to agree.

I wouldn't expect anyone on the government to be pro-crypto anyway.
I'm not sure why the Trump's idiot statement from a few days back made so many ripples in the crypto world.

I'm not sure yet that cryptocurrencies have the power to fight states. Instead, we need to pursue more moderate policies. A conflict doesn't give anybody anything, but makes us lose,

No, I'm scared that Zeitcoin will topple, and kill Bitcoin. Hahaha.

I said, Bitcoin's greatest forms of socio-psychological, and socio-political attacks is about to come. Be prepared. Who said anything about scared?

We expected these sort of battle from the beginning and the free ride of bitcoin without regulation and other government intervention lasted for over ten years and the moment we had a huge rally in 2017 which took the price to $19k every government around the world started scrambling to find a way to regulate the market or to stifle the market and we are yet to find out how the market situation will be after all these regulations in place, anon coins will face the biggest hurdle to overcome these regulation as there are chances that they will force the exchanges to de list them if they are to continue as an exchange and we are yet to know what all countries will adopt the market.

No, I haven't. I don't think anybody has, as its never happened before. Especially the "air-to-air" missile -- what do you need that for? Taking down flying mining rigs?

Nobody is destroying mining farms. You're forgetting that they are spread out all across the world. Is the U.S. also taking down China, Russia, the Czech Republic and Georgia's mining farms?

What a weird fantasy.

Besides, it would be much easier to take out the Bcash or SV networks as they are much more centralized. If Trump wants to start with them, he should feel free to do so.

in hindsight we have been in battle for some time now and it has been big enough. the only thing changing is that this "battle" is becoming evident sometimes as the other side of it shows its intentions publicly and their actions against bitcoin becomes apparent. otherwise they have been fighting it for some time now.


didn't you know? when China banned bitcoin and said they will behead anybody who owns bitcoin, every bitcoiner took to the air. now the Chinese airspace is filled with flying bitcoiners...

Funnily enough I think Bitcoin will have rather a lot to thank Facebook for in the coming years. Libra is going to consume government hate for quite some time to come while BTC continues to do its thing.

Libra arrived like a chucked hand grenade. Bitcoin's progress is way more subtle and harder to upend. Facebook is so universally loathed that Bitcoin looks like a wholesome and entirely neutral thing in comparison.

Insecure and authoritarian economies will continue to make noises about BTC as they always have. They'll look like utter fools eventually.

That what's I am waiting for, if that is possible then I would really be happy to buy more than I have ever accumulated in my life. I just can't accept how fast it grows leaving me zero thoughts on how did it happen on a such small time. Now lets wait for the world government and famous people knock Bitcoin hard as they can and we do the buying later on. More small figures of people are waiting for Bitcoin to have the opportunity to buy it low as what yo are saying, $1k Usd, oh my GOD it is satisfying.

Maybe Bitcoin did take the blame because it is simply the first crypto ever created, But Facebook Libra is the most struck by the government's wrath and because they are only starting in the crypto world I think they will have a hard time getting out from it, But I guess Bitcoin can hold its own without the help of other Cryptocurrency,

I will firmly stay and still hold my ground towards any downfall that Bitcoin has to take because I know that in the end it will regain from it and I also think that this is surely the last resistance it will take.

It's actually quite funny how Facebook's Libra is jumping in between Bitcoin and the government to catch every bullet imaginable.



People loathe Facebook yet the still use it. People loathe PayPal yet they still use it. So Libra might become a success after all. Regardless of that I'm not sure who Libra's target userbase is. Crypto-enthusiasts are unlikely to be converted and normies have other micro-payment-services available that are easier to use than Libra. As it is it seems to be worst of both worlds.

This is secondary to how much the US government and others loathe Facebook. As it stands I well and truly cannot see them permitting Libra to happen in the form they're proposing.

Am I missing something here? On what exactly is this based? Just those Trump tweets or what else?
I've personally not seen more negative news surrounding Bitcoin than usual, just the regular old stuff being repeated again.

Sure, now there's a lot of negativity surrounding Libra, but that has more to do with Facebook than anything else

part of all this drama that is also reflected partly on the bitcoin price is because of Libra and the fact that US government and the banking elite don't want to let it happen and will probably prevent it from ever being released too.

otherwise i feel the same way. i don't see anything new, everything that has been going on against bitcoin is still ongoing and anything that was going good for bitcoin is still the same!

This controversy between the US government and Facebook regarding Libra is just fireworks. What the US government wants is that Facebook collects and share all the information related to Libra users and this is what Facebook will end up doing. Facebook will say that they had another intention but they were forced to do that, and that's it.

Honestly, I can't see why such drama, what battle are you talking about? Nothing dramatic is happening. Yes, there is some price correction, again, but nothing we haven't seen before.
And all these stories about Facebook, Libra, Trump and US government doesn't have such significant influence on Bitcoin, so forget about it.

It is not only about Trump tweets, but also about that dramatic press conference by U.S. Treasury Secretary Mnuchin who is just repeated same old stuff about crypto and how US will do everything to keep US $ as main reserve currency of the world.

I do not see that as "battle that is coming", but as a continuation of a battle that lasts as long as bitcoin exists. Do we need some new Snowden to show us what US is thinking about world, or about cryptocurrency?

This is just one more spin from Trump or from his staff who want to show how they are fighting money laundering and terrorism, and since there is no more Al-Qaeda or ISIL, how the eternal war against terror will continue?

That's the thing though, the Libra will not have an exchange rate of 1:1 to the USD:


So while not as volatile as Bitcoin it will still act like a foreign currency and not a native one, with an exchange rate dependent on who-knows what metrics.

I am prepared and ready to buy more from the weak hands. I was thinking we have gone pass $10k zone. However they intend to shake the market, some of us that already know the value en-capsuled in bitcoin will not be moved. One shouldn't expect the government to easily give up. 

Yes. I actually love it when the price tanks like this this. If people are actually hardcore Bitcoiners, they would love it too because their silly fiat currencies for once provide some utility in the way that you can get more coins for them. $100,000 will be nothing but a temporary hurdle just like the $20,000 level is right now.

Let the price tank, find a new floor, and from there enjoy the next leg up. Hodling Bitcoin hasn't ever been this easy with so much progress. Allocating a part of your income to Bitcoin has become a whole lot more attractive now the price is going the other way. :)

Well people always have the magic button " Stop-loss "  to protect themselves from a big dump, so I advise people to always keep their fingers ready to use the magic button " Stop-loss "


this was already something expected to happen sooner or later


he arrived in 2017


Good observation

Which battle?  Can you provide more details and some source with your findings? from my understanding battle has been ongoing for years now from the day bitcoin came out and it has had its up and down.

The most challenging thing will be:

When the privatekeys of the lost coins with no owners - 'shalecoins' - will be 'fracked'.
The first group will then sell all these coins because they will then know that it is possible to get the privatekeys and that others could 'frack' them. No matter what the BTC price, they will sell them.

There are more than 1,000,000 'shalecoins' with a 10+ billion US$ value. So we can expect that there are private groups - not institutions like the link below - who want/try to build a supercomputer.

But thereafter 'shalecoin' https://bitcointalk.org/index.php?topic=5134441.0 will be solved and the blockchain will be clean.
That is important for the Bitcoin development.


"Quantum computers will soon outperform classical machines"
"The project is part of the EU’s €1 billion, 10-year Quantum Flagship initiative to kickstart a competitive European industry in quantum technologies."
http://www.engineersjournal.ie/2019/07/01/quantum-computers-will-soon-outperform-classical-machines/
https://medium.com/the-quantum-resistant-ledger/no-ibms-quantum-computer-won-t-break-bitcoin-but-we-should-be-prepared-for-one-that-can-cc3e178ebff0


new topic - The most challenging thing - https://bitcointalk.org/index.php?topic=5166180.0

many factors to prepare this is true our friends' words are not only prices, governments and paper money rulers will try to fight Bitcoin so it doesn't grow because they are afraid of losing money, but we all have to believe Bitcoin will continue to grow and Bitcoin will continue to go to the moon..

I'm not worried in the least. There is nothing governments or institutions can do to stop Bitcoin, the genie is out of the bottle...

If it is about adoption, then all is good. I'd like a country to adopt it as national currency, along with Austrian economics; that would be a tremendous world wide level implication and would accelerate global economy change away from Chicago school bad-practices (debt vs savings).

But the likes of India banning it is meh. Loss is on them...

Oh, and if you imply that this is somehow going to affect its price in fiat, hey, chance to buy cheap!

I don't know what to do if we see another bearish market. I am not ready to just wait for another year... Honestly, I think it doesn't make sense to hold when the price is going down. Why not sell when it's still high and then buy back when it reaches somewhere near the bottom? I have some money in btc, but I am afraid to draw attention by selling a significant amount of it, so I guess I'll have to wait or to hope for the best. I hope you're wrong that the worst is coming, and that actually it's just a correction that will be followed by further growth or at least by stabilization around $10k+. I think we deserve it after everything 2018th and the first quarter of 2019 gave us.

There is a slight chance for a bearish market (or correction) until the bull run towards the halving.

Either way is fine, 2020 the next halving comes:
Reward-Drop ETA date: 19 May 2020 09:54:35 (https://www.bitcoinblockhalf.com/)

After the halving a bearish market (or correction) seems more probable. Just remember that halving also means half production of bitcoins every 10 minutes. The market is getting less and less bitcoins as designed. Supply and Demand...

what will be the nature of this much anticipated battle? what could the target be during this cold war? price dump or pump? these and more are some questions that need solemn answers.

I can say it's already hit it peak when Donal trump the president of the US but still nothing much happened bitcoin is already going through social criticism and that is no news. I don't see anything getting worse on that account

Also remember that we have gone up from $3000 to almost $14k already. Currently we're hovering around the $10k mark, which is still $7000 higher-- it increased enough to compensate for 50% less block rewards.

If the price doesn't go up much more than what it has already given us, the difficulty will either go down a bit or remain stable. The block halving is very important fundamentally, but it's not a one way rocket flight to the moon.

Another thing is that when the sentiment is going backwards where coins are being dumped on the market, the lower block rewards won't have much of an effect at all-- the price will go down regardless of that.

      If it's like a battle , so it was started already by President Donald Trump and several big names in movies celebrities and sports but no need to be worried because bitcoin is just like a virus that slowly invade the entire body , it's only a people's choice to get involve in bitcoin or not .

I believe the battle of bitcoin faces came from the one of the powerfull leader of f the country. Thought of president trump the why bitcoin is now slightly dump their price. But yes all this battle can overcome of bitcoin to get success forget the worries and just stay calm.

Im ready for it and my I have a lot of patient for it, I waited 1 year because 2018 when bitcoin dumped but I still hold my bitcoin on that year so I don't see any reason for me to give up and for them to be impatient for holding their bitcoin. Holding bitcoin now is needed for everyone it is a big help for the bitcoin now. I think bitcoin will pass this challenge just like last year.

Are you referring to Trump's statements? I'm worried a bit too, but let's not forget that the US isn't a dictatorship like Russia, where president can do whatever he wants - in the US different branches of government can have different political positions, and if Trump wanted to initiate Bitcoin ban, it would be a long and hard process as it would have to go through all the legislative bodies.
I think SegWit2x/NYAG/Bcash drama of 2017 was the biggest battle so far, with looming forks, countless shills and trolls, and even some legit split in community. I don't feel anything of that scale right now.

Ready to sell it when Bitcoin price falls to below $9,000 again as i bought them at $8,000 therefore there is nothing to lose if i sell it if the price will really to fall on that figure. There is no need to keep on holding but with this scary event which i already experienced on Dec 2017 then sell high and buy it low again will be the best option for me.

Bitcoin is super weird at the moment, i do not even understand what is going to happen tomorrow, so we should not be worried that much. Anyway, most of my funds are on Stable coins like uSDT and Trueusd, i consider them much more safer than bitcoin or ethereum.
Maybe this is something that you should start doing also.

Oh my! And do you think that $9,000 is not too low anymore? We have already touched $14,000 in the past days. The correction is even too hard at $9,000. I was even considering that it will not fall down below $10,000. $10,000 is already $4,000 less than the new ATH within the year. There is no point selling at below $9,000 when you bought yours at $8,000. Why didn't you sell them at $14,000? Why decide to sell them below $9,000? That is honestly weird and wrong to me.

I completely agree. I mean, did anyone really expect the US to welcome the idea of any other currency, Bitcoin included, to take over as the global main reserve currency? Trump's statement and this press conference doesn't really change anything IMO. They say their only concern is fraud, which seems to line up with their current actions (going after taxes, intensified AML enforcement, etc.), meaning Bitcoin should be mostly safe for now.

Are you sure about this one because we know the market is better now and if you continue to hold that for sure it will be more worth it. You can buy more at the lower price, and it can also lower you cost which is good for you to have profit. The life with bitcoin in the past days are not that good but we still have the chance to go up. This is the battle between you and your emotion, don't think the market will go below than the bottom last 2018.

come on man, say what you mean. what's coming, exactly? :)

sounds like you've got your tin foil hat strapped on pretty tight. maybe you should head over to the speculation board and duke it out with roach, shelby, and the other conspiracy nuts. may the best conspiracy theory win! :P

We already had these battles with the governments from many different countries and we are still here. The statements from Trump does not reflect the political view of all the people in the Senate and all the people from the different States. I personally think the Trump administration is just playing political games at the moment, because a lot of the people close to Trump was Bitcoin supporters prior to the elections. <They are just apposing the direction that Facebook is taking with the introduction of the Libra now.>

We fought this battle with the US government a few years ago, before Bitcoin was defined and then the US decided to define Bitcoin and Crypto currencies as a Commodity and not as a currency.  ::)

I doubt bitcoin needs to "prepare" for anything. What we have seen is manipulation by several heavy hitters from politics and economics sectors but that didnt affect the market much just for transient moments yes. Keep in mind that people are there who support bitcoin and they wont go down without a fight. With the advent of more blockchain based systems we might be going towards a lenient attitude from governments regarding crypto which would be a good thing.

I feel the future is bright for bitcoin and not dark. Maybe you dont agree, but I have seen worse censorship and propaganda, this is nowhere close to that.

Where Bitcoin is going, there is no "scared". The "scared", and the Bitcoin fudsters, don't understand how it works, or what makes everything stick together, and that the only way to win is to be in the game. That's the game theory.

Bitcoin will take over. BUT, I am scared I won't be HODLING that much.


How is something dead going to outlive Bitcoin. Haha!


The state-level actors will mine it themselves, subsidized by their tax payers.

Give us a hint. Another miner-backed fork attempt a la Bitcoin Cash, this time backed by state actors?


That doesn't exactly sound like an attack to me. More like an endorsement! Unless it's not Bitcoin they're mining.

I just want to make one clarification. In June 2011 the price of BTC dropped from $32 to $17 naturally,  just like it always happens with this volatile coin.

Bitcoin price from May 2011 to June 19 2011
https://i.imgur.com/mKO3mR3.png

But then, in June 19, a hacker gained access to administrative account of Jed McCaleb on MtGox, sold many Bitcoins(on MtGox) to crash the price and to withdraw as many BTC as possible within the $1,000 per day limit. Theoretically, hacker could withdraw 100,000 BTC, but, fortunately for MtGox, the exchange also had Bitcoin based withdrawal limit, and thus the hacker managed to withdraw only 2,000 BTC.

I mean, it wasn't a natural decline, because, I think, no one, except for that hacker, was selling Bitcoin at low prices, and I think this situation when Bitcoin "was" $0.01 lasted only hours.

But I agree that it was a major challenge for Bitcoin with which BTC successfully coped, like with many others afterwards.

Yes, that's when some of the state-level actors internalize that the only way to win the game is to be in the game playing. But it won't go straight to that, and not all state-level actors will be Bitcoiners all of a sudden. There will be attacks, and it will come in stages.

I believe we're seeing the first stage with all the senate inquiries in the United States.

When bitcoin fell hard, everybody say its the last drop but its not.it was same when btc is 20k, 10k, 8k, 6k.there will be corrections and nobody knows where will btc stop.now we are talking about 1k, what next? 1 $?

Bitcoin battle is not for now, but from its birth Bitcoin is fighting a survival battle, the only thing that has changed in this time is Bitcoin hodler is fighting a battle for survival due to its price fluctuation.

The authorities are always looking for a benefit for themselves, so any sticks in the wheels of them are provided to the ordinary citizen! I believe in a million dollars for one BITCOIN!

BTC and crypto are places to save our assets, geopolitics cannot affect BTC and crypto charts, but when there are actors who speak more specifically about crypto, BTC will fall.  trade war between China and US became the main role in influencing global markets, China and US refused BTC, then Trump chose skepticism with virtual currencies.  but he likes to make bad comments.BTC will fall to $ 6000, HOLD to death.

"First they ignore you, then they laugh at you, then they fight you, then you win” -- Mahatma Gandhi.

In over a decade they ignored and laughed at "fake money" bitcoin, now they enter the third phase. Seems to be progressing good...

Bitcoin would probably say bring it on..

Jesus, really? Well come already, I've been waiting for this showdown for a really long time. But you know what? Like most things we expect, it either will only come when we're no longer expecting it or... it comes and it's an underwhelming whimper of everything it was made out to be. I don't like entertainment and drama when it comes to my money though, so I'm hoping it's the latter.

Btc has survived everything that has thrown at it, i really don't see what else could happen that hasn't been seen before, worse case scenario price will drop drastically which has been witness this past year, nobody can remove blockchain from the face of the earth, and as long as that don't happen i don't see what else is New ::)

We have been here long enough to see bitcoin reach all time highs of about $19k and dropped back to $3200 yet it still rose up all over again. I don't know what battle you are talking off really but trust me bitcoin has seen enough already to be scared of any crash of the market.

The main thing is that the owners of Bitcoin are not afraid, because otherwise it will really be the end to the entire cryptocurrency market.  Although I am sure that with the help of negative information, the cryptocurrency market will always be manipulated.

Oh my god, if we see bitcoin price to be 1000$ again, I believe it will kill all hopes of rise and it will be a fatal end. On another hand current situation is pretty similar to that 3200$ price but in this current one change happens very often, from 9k to 13k and then plays between these prices but percentage of rise/drop is really big everyday, it's really hard when to buy or when to sell, maybe 13k is a great price to sell but maybe it won't fall and this play between prices will end but oh, idk.

The OP is not clear enough regarding the biggest battle that bitcoin will be battling on.
But even though he mentioned about that, it is true, btc had been and has been battling a lot of issues and drama, yet, it stands its ground and keep on rising.
So yes, I don't think we need to be scared for the future of btc. Its presence in the crypto market has been cemented already.

Yup, I agree and I believe there are bigger battles then just watching drop or rise. What about the possibility of the system. The Bitcoin system still has a lot of reason to not use it every day. We love and use bitcoin and all the altcoins because we know how powerful they will become in the future and how important they already are right now. Political bodies are really pushing hard to shake CryptoCurrency system.

I'm just curious how they could leverage an attack effectively. It's hard to imagine them pushing a political hard fork attack, especially given how impotent those attempts have been in the past. So what's left, attacking via regulation, prohibition?

The US has senate hearings about Bitcoin every time the market has a bubble. What's different this time?

It's more serious this time. The state-level actors are learning that Bitcoin can separate money from state, and it's growing.

I believe the attack will be done politically, it will be regulatory, it might involve character-assasination of some of the Core developers/contributors, all of them together.

theymos articulated it better than anyone.

https://www.reddit.com/r/Bitcoin/comments/cedkch/rep_patrick_mchenry_theres_no_capacity_to_kill/eu1xn7f/

Ah, the old FDR gold confiscation scenario. I've always thought that was a possibility -- how remote, I'm not sure.

At least we can take comfort in the fact that bitcoins are a lot easier to hide and transport than gold. We can always renounce our citizenship and leave.

BTC dropping to 3200 I think was the biggest battle for his existence. don't know how much lower than that can it still go in the future.

bitcoins were worth fractions of a penny each not that long ago. the $3000s were a piece of cake! they only seemed bad to bagholders from 2017. just like the $9000s now seem brutal to everyone who just bought in the $13000s.

this is not for bitcoin life, but for people that hold their token.
biggest battle happen when its nothing but now it be something. and bitcoin can past it.
you can imitate those who can still holding their coin, believe if someday that coin will be more and more explode

If you use what bitcoin for what it was intended for, then its really no battle at all, and the price of bitcoin does not matter. Frankly, if it goes too high, then transaction fees are bound to follow. Until LN mass usage has really kicked in, bitcoin's price is somewhat inversely proportional to its utility as a currency.

As an anti-fork guy, I still believe widespread LN adoption will happen before BCH or BSV are respected as serious competitors.

I understand the risk of crypto itself so I will grab that risk.

Still keep holding ?
Of course because it's better do it from now rather than regret.
Anything for profit,right ?

But in theymos's scenario, almost useless. As he said, people who use it within the legal framework, which will be everyone who is not a criminal, will be using Bitcoin as something the same as fiat.

Then another debate, if they can "censor" it, what's the use of POW?

Thank you for reminding us about the coming of the biggest battle so we can prepare for that. At least we have the idea of how much stretching we will do. Basically, we are used to some changes that come our way in Cryptocurrency, we have gone thru many battles since we started this journey and I have to say that we have learned much how we can handle it. But having this news about the biggest battle is such good news for us, there is always a rainbow after the rain so after this "great battle", I think we will going to see the brightest moment once again.

In my opinion, we don't need to worry too much, we have witnessed many of the falling prices of bitcoin, calm down because I believe in its strength and potential.

2018 wasn’t enough for the battle?And also the 3,200$ price this early 2019?wondering what would be the worst than those days ..but anyway I’m always ready as I have managed to keep calm those bearish markets and what worst would I expect!

I am ready and have some amount to use for buying when the lowest value arrives this year or the next.but we are expecting halving in 2020 right?

Nope. They're just prices. And they were all the fault of the people present in the market, nothing else. Anyone who's been here since before this particular bubble sat back and watched the same old thing play out again. It was boring but not scary in any way.

What I got from watching the recent hearings is an awareness that too much heaviness could drive crypto away into the arms of a more willing country. If America is conscious of losing their dollar hegemony they're also conscious that remaining a world capital of crypto is more of a benefit than the alternative.

I think I get which angle you're looking at it from. Talking about Bitcoin in a negative way to impact on existing users and intending users. Agreed, Trump will pull some Supporter who never understood or like the concept of decentralisation. So it is understood if some individuals or companies fall in with the rhetoric. Bitcoin has come to stay.

It seems to me that this is not the first test of the nerves of investors and far from the last! There is no reason to worry, Bitcoin should grow, it is still too early to talk about the next market failure. But when it comes, the market should recover much faster, because people already know from experience that the fall of bitcoin is the norm, and you can use it while the market is at its lowest point.

well, therefore we are still holding here to see the rainbow. I don't think that the battle will last long, because I'm sure this will end soon and each person who still holds it will get a profit, and those who give up get regrets. And I will always remember the longest battle last year, where the crypto market bled and now we have seen the rainbow after the battle ended.

I do expect some action from the authorities, in case the (crypto) market cap crosses the $1 trillion level. Whether you guys like it or not, Bitcoin has become a major rival for the fiat currencies. In countries where the national currency is heavily manipulated (China and Iran for example), there is enough evidence available to conclude that at least some of the citizens are using Bitcoin as a store of value. Now this goes against the government plans to have a complete monopoly on the savings of its citizens. Even in cases where the national currency is not manipulated, Bitcoin is attractive due to its immunity from inflation.

It will be foolish to believe that the government will just sit back and watch the show, when the national currencies take the hit. The tax revenues are going to get affected and the entire apparatus will feel the impact. So at some point, they will be forced to initiate action against the cryptocurrencies.

Executive Order 6102 is a United States presidential executive order signed on April 5, 1933, by President Franklin D. Roosevelt "forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States". The order was made under the authority of the Trading with the Enemy Act of 1917, as amended by the Emergency Banking Act the previous month.

Do you think people turned in their gold.  No they hid it.  Finally the limitation on gold ownership in the U.S. was repealed after President Gerald Ford signed a bill legalizing private ownership of gold coins, bars and certificates by an act of Congress which went into effect December 31, 1974.

Governments cannot find your cryptocurrency especially if you have it on a hard wallet.  So they only thing this will do is for governments to say it is illegal.  See how many people own Bitcoin in China and Indonesia where it is illegal.

It will only help the price go up.

Dont be over dramatic, none will battle :D
Governments will chose to regulate or ban Bitcoin and altcoins with along it.
Regulation will be harsh or wage, probably it will be unpleasant for  most ocrypto users, but it is the next chapter of bitcoins  " book" we want it or not.

This is actually very helpful to those who are new especially those who are still in the process of learning. Learning how to handle pressure that tackles the Industry will be hard because it will attack us mentally. We have to stay disciplined and trust that HODLing our Crypto's will still be profitable. There are already a lot of threats lurking around the industry but it stays the same way because some users does not want to damage the industry and we should stay vigilant to secure the industry.

Can you explain me how the tax revenues as you call it will be affected? I for example can choose to not trade and not profit, which means no tax going towards the government, or I trade and profit but not pay any tax. So how exactly will the tax revenues be affected? The government can't lose or be impacted by something it never had in the first place.

I personally do pay tax over the profits I make because it's done through centralized exchanges, but this is pure profit to them. It's money they have now that they didn't have before, and didn't count on to generate. Governments have to work on being competitive and fair so that crypto businesses will choose their country to settle in. It's a new (additional) source of income for them.

I think this attack has long come... remember when the Chinese and russia government say to banned all ICO project, or the latest news where FED and Donald Trump attacked Libra and caused the cryptocurrency market to fall.  

we must be prepared to receive attacks from law and regulation makers, do not immediately panic when there are issues  ;)

Government can't regulate crypto that is the beauty of it. Besides, I think they have better things to do.


Lol I know right? This person has no idea what they are talking about. The goverment is forced to "sit back and watch the show" their currency failed us so we created our own. Crypto has nothing to do with the goverment. We are free to trade in wahtever we want. YOu may trader services even and people have done it for a long time. For examlpe let us say you an IT expert and I have a huge problem with my network and you fix it for me but instead of charging me currency I will repair your car. It would be exactly the same with using a currency but we just skip that part entirely. This is not taxable. This is very similair to crypto but you trading in something that has a value on its own and not a service.

I agree with this. Times of prohibition are gone, and, also, I'm sure that nothing like the Gold Reserve Act of 1934 will happen again. Democracy has evolved significantly since 1930s, and we should not be afraid of repetition of some atrocious acts that happened in the past, same as people in 1930s could be sure of not seeing burning witches at stakes in the center of the town. The positive changes have happened not because those who are in power are good people, but rather because people oppressed by them can cooperate better due to radio, then TV and now the Internet. Performing anti-democratic acts is now much more dangerous then it used to be. So, since banning Bitcoin is not an option, the only thing left is embracing it, which America will do if they want to remain the biggest power in the world.

Ten years is a long way if Bitcoin will be destroyed it should have been in the third or fourth year, not now that everybody is looking at it and wants to be part of the community, I don't know what will come that will get us caught by surprised, Bitcoin and the community has experienced everything, do you have a hint of what it is?

They already have control over the biggest financial market in the world. They might lose out on innovation to a smaller degree, but that's about it. The consequences of not embracing Bitcoin for them are negligible.

People here act like countries have to embrace it in order to grow exponentially and potentially become a super power in the world, but that's just because they are biased to think so because they are heavily invested in it.

The US has grown exponentially before Bitcoin existed and will continue to do so, with or without embracing it. Crypto as a whole is one big hype. It's useless for the most part. What in the last 10 years came out of it?

If you invest in some asset such as mutual funds, then first you need to pay the capital gains tax (which is same in the case of Bitcoin as well). But on top of that, the money you are investing goes to prop up corporations, which pay taxes such as the corporate tax and the labor tax to the government. In case of Bitcoin, this is not applicable. The creator of Bitcoin didn't paid any taxes to the US government.

So if the investors feel that Bitcoin is a better asset when compared to equities, the interest in stocks will go down. The market will crash. As far as the capital gains tax is concerned, there will be no change (since you need to pay the same tax for BTC as well). But if the corporations go down, they can have a negative impact on a lot of domains. For example, the donations to the political parties can take a hit. Board members have most of their annual salary in the form of stock options, and they'll take a hit. Pension funds have a lot of exposure to the stock markets and they'll be forced to book losses. The impact will be widespread. If I have to list out all of them, it is going to take a few hours.

In short, it is in the interest of the government that you purchase equities with inflated P/E ratio, rather than something decentralized, such as BTC.

Yeap, this is the Lindy Effect I'm counting on to take us through the next decade and then see us out til my death (which hopefully, isn't for a few more decades!).

It definitely should have been put down the minute someone even decided it would be a way to circumvent politics (wikileaks for example). But it didn't die did it? The last threat I actually thought might do something was the Bcash event, but fortunately for us, their motivations became all too clear and the good actors shored up.

I don't think we have experienced everything yet though so we're not clear. I would like to see something again. People keep talking about parabolas etc but they sometimes should consider after every catastrophe avoided, Bitcoin becomes stronger. Maybe the 2017 bull was this display of strength from adversity.

Many modern pundits and philosophers, while admitting that capitalist economy is the most effective one in our current global economic system, suggest that it's starting to slip more and more, and, perhaps, will completely stop working in the near future. Again, it's not that any other economic system we know of is better, no it is not, but rather a completely new economic model has to be invented, and I believe that Bitcoin is going to be a part of that new model.

The US has grown exponentially because they were embracing progressive ideas faster than others, not because they were cool from the very beginning, and embracing Bitcoin is just their way of doing things.

Just my opinion. Of course, I can be wrong, but that's what I feel right now.

Indeed, geopolitical competition really plays into Bitcoin's favor. Most governments (including the US) seem aware by now that driving cryptocurrency underground can only hurt their countries economically, and probably won't be effective anyway.

Still, they will try to control it the best way they know how -- by strangling VASPs with just enough regulation to see a handful of willfully compliant heavyweights emerge and consolidate the market. Or worse, they'll target users and their bitcoins as theymos pointed out (https://www.reddit.com/r/Bitcoin/comments/cedkch/rep_patrick_mchenry_theres_no_capacity_to_kill/eu1xn7f/), although I think his specific scenario is unlikely.

More governments have been revealing statements associated with bitcoin, some were against the use of cryptocurrencies while some support the usage without any form of legal regulations. This seems to have high level fluctuation in the market over the falling months. This is where users easily gets into temptation and goes out of holding.

By this time more countries will also plan on starting to circulate their own cryptocurrencies. Even at such scenarios I believe bitcoin usage will progress and there is nothing as a battle for bitcoin's life.

Issuing their own crypto currencies by different countries looks kind of stupid to me, but if they will start doing that, such actions can only contribute to wider adoption of BTC. Most people still think that crypto currencies have no future, but if their government issues a crypto coin, they will start taking the subject more seriously.

Kinda agree to that.Libra has already been facing a lot of criticism from the haters and a little appreciation from it's supporters.
The crypto community is kinda like neutral to Libra may be. A few hate it because of it's centralization and the others like it because of it's brand and support.
Libra has been in the eye of the governments, banks and financial institutions just like how bitcoin is.
So we can say that if Libra gets through this then it would become easier for bitcoin to handle the attacks from the banks and the government.
Bitcoin will surely dominate the market if things go well and if BTC  is accepted globally.

Probably is the worst I guess. And if the battle is on, we are still here standing fighting for it. $1,000, if ever be the worst scenario, but for some investors a great big opportunity to buy more. If governments will be the one as a threat to bitcoin community, I will still look for a way to fight for it. And it is not easy to banned bitcoin, it will be tacled seriously before that happens in some countries.

currently investment in bitcoin can provide significant benefits. However, it is worth the investment, the risk is very high. currently investment in bitcoin can provide significant benefits. However, it is worth the investment, the risk is very high. Besides that, no one knows when bitcoin will eventually be destroyed aka its value has dropped sharply. The battle for life is about to begin, but my and everyone's great hope that the value of bitcoin will continue to increase and I believe that everything will return to normal.

How do you know this? Accepting money as a legal tender wasn't a decade project and so is cryptocurrency.it's never going to be easy and fast

I don't think battle but the sunshine in the finance market is coming in the form this globally accepted decentralized asset called Bitcoin.

A friend told me that Peter Todd is being accused of rape, and sexual assault by the same person who also accused TOR developer Jacob Applebaum.

Part of a socio-psychological attack? I don't know, but a known 3-lettered intelligence agency is known to have this kind of attack as part of its MO. It might have also done the same attack on Julian Assange.

Tinfoil hats on. 8)

Is China's "yes blockchain, no cryptocurrencies" announcement our first big socio-political attack from a state-level actor? I believe China has only started.

Our only move is to HODL. Be strong!

What exactly do you think is going to happen? Can you give us a clue, maybe?

Already India has taken such decision of yes to blockchain and no to cryptocurrency usage. Bitcoin and other cryptocurrency being speculative, soon this incidents were related with each other. Later India realized and the continues with more and more appeal. China too have opposed it hardly, and this can be considered positive than negative. People who knew the market well hold it without thinking of anything else.

The battle for bitcoin from those who do not like bitcoin has indeed been repeated many times, so that bitcoin falls up and becomes more volatile if there is an attack or news, either negative or positive. We must be prepared with all that as someone who has been in the crypto world.
Yes, hopefully a good battle, so can lift the price of bitcoin higher and reach the peak price so we can all be happy.

Whatever challenge it is, I believe that we have already gone through it and it's over. The Bitcoin community has already been through a lot this year and I have seen some people saying that Bitcoin will be over this year (yep, the same thing they were all saying in 2017, they are now repeating this year that Bitcoin is dead). The price dropped down to almost $3000 but it still got back up, and I don't expect it to go down again till next year when the bull run starts.

I'm expecting the next ATH price to be really high, I want all those that have said it's over, I want them all to be disappointed next year the same way they disappointed before. I have no plans to sell my coins yet.

Bitcoin has been fighting for a long time, ever since the price dropped to around $ 3,000, I thought it would not come back.
This is a difficult period, but you have no worries, a slight wave that will pass and bitcoin will not lose.
In my opinion in the end it will be okay for the price of bitcoin to be good for the mon who hold it.

I left the bitcoin market. I'm preparing myself for re-entry. I will do more research and choose better projects. I am strengthening my psychology against harsh movements. I have been in this market for years and now my feet are on the ground more firmly.

I think this is about Bitcoin Halving, which will be held in May 2020 https://www.binance.vision/en/halving
Maybe this was meant by the author of this topic. And the second option is that the government will implement tough measures against cryptocurrencies, why am I not afraid, since I live in a country where bitcoin is allowed.

If you are still in the cryptocurrency market, you must always face the battles that will take place. The war of raising or decreasing the price of bitcoin. The most popular way to use Bitcoin today is to invest in the currency and sell it as the value increases.So the way some optimistic investors talk about Bitcoin today reminds us of the early days of dot-com.

This all we need, we will experience loss in crypto but it doesn't mean that we can't return, we just need to learn from experience. Improve our skills and analyse whether that coin is worth holding or simply good to trade. Bitcoin is too volatile but once it reach it's limit and been adopted by many users and organisations it's value will rise again. Don't believes in some FUD better research it beforehand.

Its quite alarming but I guess if that would also be a chance to buy at its lowest price by then. It might be sad not to sell it for that promising highest price. Somehow its like also an opportunity to invest more and probably test our patience in holding bitocoin for another period.

Do not lose all of your patience guys. In this kind of circumstances, the one who has a longer patience will win the battle. Do not sell your bitcoin just because the price of it is low. Wait for its price to rise up a bit and then sell it if the price suits the expected price that you want. As of now, the best thing to do is to hold your coin first.

The main source of these socio-political and socio-psychological attacks is due to the fact that these people attacking bitcoin either have no knowledge and understanding of what Bitcoin is really is or have wrong information or knowledge of bitcoin and its main purpose in the financial ecosystem. Such people always wanna be in charge of controlling every activity in the financial ecosystem. Once they feel they are losing control, they attack without trying to understand.

The mother of all or the biggest battle is the evolvement of quantum computing which many schools of thought believed can threaten or alter blockchain technology and even miners too are not left out, over all effect on Bitcoin would definitely be on the negative side, I hope the authorities concerned should do more to protect blockchain vulnerability due to quantum computing else the technology would become history.

Loss is normal because it is inevitable but it is not normal if we keep experiencing losses and not gains. If I lose in a trade it means that there is something wrong that I need to fix. I love to lose sometimes because it makes me a better trader. There is no trader who are experiencing losses. Bitcoin is so volatile so it is really hsrd to manage but if we have proper knowledge and skill we can easily manage it.

they have done before and have done over the years,yet Bitcoin shows resistance and power to keep the value higher from the Fud expectations.

this year alone after this thread was created Bitcoin price Kikced up again and Hit $14,000 value so what is this attack is all about if they cant even bring the value to $3,000 again?price that has been recorded lowest since years before?

Biggest battles were already won and done bubbles, countries banning exchanges and regulating crypto currency in order to harass businesses that runs crypto and the recent market recession that happened and made the crypto market fall down to $3200 level. Bitcoin is battle tested and withstood countless challenges although i love to see it fall down again to $3000 to buy cheap BTC.

BUMP!

I see that the topic was made TWO YEARS early. The largest SOCIO-POLITICAL, and SOCIO-PSYCHOLOGICAL attack is happening RIGHT NOW through the FUD by state-level actors of the Chinese Government. They will try to convince you to sell, DON’T, just HODL. As a community, Bitcoin needs us to stick together, and not be disunited in mind by these FUDsters.

They have even coined a term for what is happening in China - Great Mining Exodus. From the looks of it, they have no choice but to move their operations to Bitcoin friendly countries. Some chose neighboring Kazakhstan for their mining operations. But the more advanced or monied miners might chose western countries such as Canada, the United States, and northern European countries. Chinese authorities gave them 2 months to pack up and leave.

Source: https://www.cnbc.com/2021/06/15/chinas-bitcoin-miner-exodus-.html

We can survive this, it could take longer to recover the losses, but there are still so many possibilities considering how huge our community now.
Keep HODLING your coins, don't sell for negative profit.

Exactly.

Bitcoin does not care about its price.

Well, for some yes, you can turn a blind eye on the attacks of the different establishments in many countries about Bitcoin. Also, the FUD that is the consequence of it. Many of those who bought in the highs, when Bitcoin was in $50,000 to $60,000 possibly has sold their assets at a big loss, many of them might have hold on. Right now there is a big price correction and the winner of it might always be the monied investors and those who might have the power to manipulate. Not an epic battle for some, but for others this is the real deal and ignoring their sentiments would seem kind of selfish.

Meh... more blood needs to be let to cast the nonbelievers out. Let the bloodbath wash away the impurities of heart and soul. Or something.

Sorry that a lot of kiddies had to get rekt but the game has been like this since long before I jumped in.

Crypto markets are like the most hypercapitalistic forces there are... Lessons must be learned quickly or utter rektness is a near certainty.

The price? Who said anything, or mentioned anything about Bitcoin’s price? I believe many people in the community are not fully aware that there’s a large, totalitarian State that’s actually very aggressive in moving against Bitcoin, and its impact.

if indeed this is a battle then get ready to be involved in it, and whatever happens.then it is very optimistic that bitcoin will win this battle. what's more, bitcoin is currently in such a great shock from the pressure of several countries , one of which is china, and we are very confident that bitcoin is able to win this battle. and the price will return to stable at its original price, as in recent yearsin.the eyes of the public

prob all just starting to normalize. all the nicehash noobs that get paid in btc, selling their rigs for summer money.
just now 50x 3080 for €1200 dropped on mindfactory.
let's see how this ends. I should've bought after the minecraze. what a noob.

typical me. never bothered buying bc of KYC, and now had to KYC anyway and bought at high. hilarious

You did, though in a roundabout way.


Or how about this? Use Bitcoin for what it was designed to do and don't worry about its price.

C'mon man. We both know that China can shuffle around miners and turn switches on and off to their hearts content and the end result is some wonky block times.

this bullrun, marked by the increasing adoption of bitcoin, and more and more new people coming. Moreover, many influencers have started to popularize bitcoin and cryptocurrencies in general. so many newbies come because of hype, fomo, and want instant profit. bought without calculation for fear of missing the ship. Finally, without proper preparation, "they" panic buy, easily carried away by the waves, so they panic sell. it's like you go to the battlefield only with the determination to win, without the preparation of weapons and strategies. how to win? Is it enough to rely on luck alone? well, maybe you can, but luck will not always be on our side.

I prefer a person who is considerate, every decision is made based on what he believes, then accepts the worst case scenario as a risk of getting involved in the crypto ecosystem.

Yes I also read some sources where it was said that this is beyond doubt serious by the Chinese government. They won't revoke their decision. That surprises me a bit I must admit. So far it often has all been about threatening, but this time the threats are real and they act upon them.
I think the miners shouldn't have too many problems to transition their operations into another country. I don't know in how far neighboring countries are inclined to host those mining operations. The question is probably anyway whether they can obtain electricity prices as cheap as they could in China in order to stay competitive.

This was said by someone in my opinion a long time ago when the prices were going down in 2018 so I don't think this title isn't relevant anymore because we all know where this is going in the long run which is consistent to what bitcoin has did for the past decade.

I did? Did you read the OP and got the context?


OR, maybe we should be made more aware that Bitcoin might always be under attack from all directions, from State-level actors, from the gnomes behind the Central Banks, from trolls gaslighting the naive. All the FUD.


I’m talking about the propaganda that goes with it. “It’s not a currency/store of value, too volatile. It’s risky, criminals use it. POW is a waste of electricity, it’s destroying the environment”.

The offensive towards bitcoin is so huge right now because governments are reaching close to the time they are going to launch their own crypto currencies. So they need to defamate and act behind the curtains to weak bitcoin maximum as possible in order to make their own crypto currencies look better to the public's eyes.
Of course China is at the top of this offensive, because crypto community gave too much power to that country, but China isn't by itself on this quest. Even Trump made negative statements about bitcoin recently, what means attacks are coming from all sides.

I hope what you say about the bad news attack, what China has done will actually make many people, especially bitcoin investors, not all affected and want to think clearly. because the goal that is carried out by China is not only this time and has been done before, but really hopes that what is being done now will open their minds to not always believe in bad news. because this will certainly make things that are not positive for future progress.

let what has been going on and resulted in a very deep correction for bitcoin will not continue and there will be other good news that can make bitcoin move up and make those who want to do bad news again, will not be to make bitcoin in the future so slump .

Yes, people need to open their minds and stop giving too much credit to bad news. To do this it's very simple: people just need to stop being immediatist. They want fast profit, double investment in few weeks and no negative fluctuations in btc price. If this mindset is changed and the expectations become focused on the future (at least few years) instead of focusing it on the present, bad news won't influence them anymore in the same way it currently does. We have already seen deep corrections before, and the good side of history is that btc always recovered after all.

if this is a battle, I'm sure that bitcoin will be able to face this battle. in the midst of such a price drop and some pressure from outside countries.which makes the stock price decline even more. this will be a real battle to see a price that will back to its stability.so therefore I am very sure that bitcoin will be able to win this battle

And all this stops bitcoin how exactly?


 ::)

This is not as bad as 2018 and 2019, the prices are much higher than the past even though the prices are on the red. No real battle in my opinion because the prices are no yet going down the 4 digit territory.

maybe it's time for bitcoin to go to war, the bitcoin side can no longer be silent, considering too many companies and billionaires are posting negative things about bitcoin, even China has done what they want with bitcoin, it's time for us to fight, and don't let them step on us again