Bitcoin Forum
December 17, 2017, 10:31:29 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: The importance of Bitcoin will not be felt by the mainstream until governments..  (Read 1092 times)
pereira4
Legendary
*
Offline Offline

Activity: 1190



View Profile
October 20, 2016, 02:42:35 PM
 #1

get rid of cash.

Once governments finish their ban-on-cash global plan, and there's no escape from pinpoint governmental control, we better hope we have a strong, solid, decentralized-node Bitcoin, with nodes wide spread all across the globe, or else it will be the end of financial freedom for ever. Bitcoin is our last hope.

By then, people will start to realize the importance of owning Bitcoin and knowing how to use it. The price of Bitcoin will sky rocket to several thousands to millions of dollars per coin, as bast amounts of wealth move within the ecosystem.

1513506689
Hero Member
*
Offline Offline

Posts: 1513506689

View Profile Personal Message (Offline)

Ignore
1513506689
Reply with quote  #2

1513506689
Report to moderator
1513506689
Hero Member
*
Offline Offline

Posts: 1513506689

View Profile Personal Message (Offline)

Ignore
1513506689
Reply with quote  #2

1513506689
Report to moderator
"Bitcoin: mining our own business since 2009" -- Pieter Wuille
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
franky1
Legendary
*
Offline Offline

Activity: 1890



View Profile
October 20, 2016, 02:52:13 PM
 #2

get rid of cash.

Once governments finish their ban-on-cash global plan, and there's no escape from pinpoint governmental control, we better hope we have a strong, solid, decentralized-node Bitcoin, with nodes wide spread all across the globe, or else it will be the end of financial freedom for ever. Bitcoin is our last hope.

By then, people will start to realize the importance of owning Bitcoin and knowing how to use it. The price of Bitcoin will sky rocket to several thousands to millions of dollars per coin, as bast amounts of wealth move within the ecosystem.

the majority of world banks are involved with hyper-ledger.
bank balances wont disapear. they will be replaced 1:1  (dollar:USFIATCOIN)
where america will have one chain measured in USFIATCOIN tethered to the hyperledger and uk will have a chain measured in UKFIATCOIN tethered to the hyper ledger.
(i called it USFIATCOIN/UkFIATCOIN for demonstration purposes only)

thus freeing american government from "dollar" debt. because the terms of repayment are in "dollars".
so goverments hyper inflate old useless dollars so that $20 trillion becomes the price of a loaf of bread to pay off the debt contract in one go.

while citizens are holding ~45000USFIATCOIN average each(to represent average life savings) thus dont feel the 'pinch', where 1.5USFIATCOIN is the price of bread.

which makes bitcoin valued at
$8quadrillion old dollars but only 600USFIATCOIN
essentially bitcoin valuers drop measuring against "dollar" and instead measure against 'USFIATCOIN' .. which after the drama is over, not much changes from the prospective of how much bread you can buy.

yes bitcoins deflationary nature can make the new valuation result in more bread per btc being bought, but the banks hyper inflation flip after swapping over to hyperledger wont cause much difference outside of the box.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
pereira4
Legendary
*
Offline Offline

Activity: 1190



View Profile
October 20, 2016, 03:01:54 PM
 #3

get rid of cash.

Once governments finish their ban-on-cash global plan, and there's no escape from pinpoint governmental control, we better hope we have a strong, solid, decentralized-node Bitcoin, with nodes wide spread all across the globe, or else it will be the end of financial freedom for ever. Bitcoin is our last hope.

By then, people will start to realize the importance of owning Bitcoin and knowing how to use it. The price of Bitcoin will sky rocket to several thousands to millions of dollars per coin, as bast amounts of wealth move within the ecosystem.

the majority of world banks are involved with hyper-ledger.
bank balances wont disapear. they will be replaced 1:1  (dollar:USFIATCOIN)
where america will have one chain measured in USFIATCOIN tethered to the hyperledger and uk will have a chain measured in UKFIATCOIN tethered to the hyper ledger.
(i called it USFIATCOIN/UkFIATCOIN for demonstration purposes only)

thus freeing american government from "dollar" debt. because the terms of repayment are in "dollars".
so goverments hyper inflate old useless dollars so that $20 trillion becomes the price of a loaf of bread to pay off the debt contract in one go.

while citizens are holding ~45000USFIATCOIN average each(to represent average life savings) thus dont feel the 'pinch', where 1.5USFIATCOIN is the price of bread.

which makes bitcoin valued at
$8quadrillion old dollars but only 600USFIATCOIN
essentially bitcoin valuers drop measuring against "dollar" and instead measure against 'USFIATCOIN' .. which after the drama is over, not much changes


The market will dictate the price of bitcoin. As wealth comes in (and that includes gold and other assets), the price will go up in inflation-adjusted purchasing power. No one will be willing to sell 1 Bitcoin unless it's purchasing power is huge, no matter how many tricks those pigs try to come up with.

franky1
Legendary
*
Offline Offline

Activity: 1890



View Profile
October 20, 2016, 03:10:42 PM
 #4

The market will dictate the price of bitcoin. As wealth comes in (and that includes gold and other assets), the price will go up in inflation-adjusted purchasing power. No one will be willing to sell 1 Bitcoin unless it's purchasing power is huge, no matter how many tricks those pigs try to come up with.

my point is in the future.. $8quadrillion dollar bitcoin is no better than $600 bitcoin right now. it will still buy only 400 loaves of bread.
valuation in dollars will be meaningless.

however the ID centric nature of hyperledger by removing bank notes and being 100% banking KYC ledger entries will divert people to want something less authoritarian
which could (using my made up figures of last post)
cause btc valuation to go from
1btc:600USFIATCOIN which would be 400 loaves of bread.
to
1btc:6000USFIATCOIN which would be 4000 loaves of bread.if bitcoin sees 10x more demand

and no one will care about btc being $8quadrillian dollars of useless money

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
calkob
Hero Member
*****
Offline Offline

Activity: 714


View Profile
October 20, 2016, 03:13:59 PM
 #5

i tend to agree with you i think the fact that cash is still floating about makes people still feel safe from control. however like you said once cash is a thing of the past the governments will have right were they want.
pereira4
Legendary
*
Offline Offline

Activity: 1190



View Profile
October 20, 2016, 03:19:58 PM
 #6

The market will dictate the price of bitcoin. As wealth comes in (and that includes gold and other assets), the price will go up in inflation-adjusted purchasing power. No one will be willing to sell 1 Bitcoin unless it's purchasing power is huge, no matter how many tricks those pigs try to come up with.

my point is in the future.. $8quadrillion dollar bitcoin is no better than $600 bitcoin right now. it will still buy only 400 loaves of bread.
valuation in dollars will be meaningless.

however the ID centric nature of hyperledger by removing bank notes and being 100% banking KYC ledger entries will divert people to want something less authoritarian
which could (using my made up figures of last post)
cause btc valuation to go from
1btc:600USFIATCOIN which would be 400 loaves of bread.
to
1btc:6000USFIATCOIN which would be 4000 loaves of bread.if bitcoin sees 10x more demand

and no one will care about btc being $8quadrillian dollars of useless money

I agree, but when I say 6 to 7 figures in dollars/euro, I mean it will have the purchasing power of what currently 6 to 7 figures of dollars/euro can buy you, whatever that is in the future, that is what I mean with inflation adjusted.

amacar2
Legendary
*
Offline Offline

Activity: 910


★Jetwin.com★


View Profile
October 20, 2016, 03:40:10 PM
 #7

I also believe just like you in bitcoin and i am quite sure many of us in this forum love bitcoin because it can give us financial freedom and also freedom from the heavy taxes and laws government have forced on us. I am storing in bitcoin because bitcoin network never gonna shut down so that i will never gonna loss access to my money as well as noone can stop me or lock me from my money like in banks.


▄▄▄████████▄▄▄
▄▄███▀▀▀ ▄  ▄ ▀▀▀███▄▄
▄██▀▀ ▄▄████  ████▄▄ ▀▀██▄
▄██▀ ▄███████    ███████▄ ▀██▄
██▀ ▄████████▀    ▀████████▄ ▀██
██▀ ██████████      ██████████ ▀██
██▀ ██████████        ██████████ ▀██
▄██                                ██▄
██ ▄                              ▄ ██
██ ███▄                        ▄███ ██
██ ██████▄                  ▄██████ ██
██ ▀████████              ████████▀ ██
▀██ ███████                ███████ ██▀
██▄ █████▀                ▀█████ ▄██
██▄ ████        ▄▄        ████ ▄██
██▄ ▀█      ▄▄████▄▄      █▀ ▄██
██▄    ▄▄██████████▄▄    ▄██▀
▀██▄▄ ▀▀██████████▀▀ ▄▄██▀
▀▀███▄▄▄ ▀▀▀▀ ▄▄▄███▀▀
▀▀▀████████▀▀▀
 

    [    ]
franky1
Legendary
*
Offline Offline

Activity: 1890



View Profile
October 20, 2016, 03:56:16 PM
 #8

I agree, but when I say 6 to 7 figures in dollars/euro, I mean it will have the purchasing power of what currently 6 to 7 figures of dollars/euro can buy you, whatever that is in the future, that is what I mean with inflation adjusted.
deflationary power = more bread for 1btc
inflationary power = less bread.

EG
inflation of fiat
current: $600=400 loaves of bread=1btc
future:  $8quadrillion=400 loaves of bread=1btc <- no extra bread
same bread, different valuation.
downside of inflation
future:  $600=0.000000000003 of a loaf of bread=1btc <-less bread

this is why we should not care about fiat inflation.

deflation of bitcoin
current: 600USFC=400 loaves of bread=1btc
future:  6000USFC=4000 loaves of bread=1btc
more bread via bitcoin, even if bread stays at 1.5USFC

its deflation due to demand for bitcoin we should be thinking about..
no one should care about

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
Denker
Legendary
*
Offline Offline

Activity: 1162



View Profile
October 20, 2016, 04:26:17 PM
 #9

I can not believe that cash will disappear within the next decades!
Bitcoin will have to coexist with fiat currencies.I see no problem in that and still there are more than enogh reasons why Bitcoin's value will rise.
Countries like Sweden, where almost everybody is paying with cards or the phone right now, will be one of the few excemptions for many more years.

Milkduds
Full Member
***
Offline Offline

Activity: 210


View Profile
October 20, 2016, 04:44:37 PM
 #10

This will take time and the main issue/threat to achieving this is the potential of hacking.
Imagine the world economy is taken down over night by some kid in his basement!

Also tapping into something Franky1 mentioned,the creation of funds and printing money to make up for budget overruns would become obvious or not something they could do. So in that vein I do not see governments jumping on the crypto wagon till they can figure out how to create and control 
most if not all aspects. It is kind of a scary thought to think we could be forced into a crypto that the government could sweep away in one swipe of the keyboard.

A lot of benefits to going down this road but there are some pretty big holes we need to patch up before we can even creep towards adopting a mainstream cycle.
aso118
Legendary
*
Offline Offline

Activity: 1638


View Profile
October 20, 2016, 04:49:15 PM
 #11

get rid of cash.

Once governments finish their ban-on-cash global plan, and there's no escape from pinpoint governmental control, we better hope we have a strong, solid, decentralized-node Bitcoin, with nodes wide spread all across the globe, or else it will be the end of financial freedom for ever. Bitcoin is our last hope.

By then, people will start to realize the importance of owning Bitcoin and knowing how to use it. The price of Bitcoin will sky rocket to several thousands to millions of dollars per coin, as bast amounts of wealth move within the ecosystem.

They are trying to get there as quickly as possible. But as long as there are alternatives like gold and bitcoin, they won't be successful.
Everybody may not have access to bitcoins, but they can still buy gold.

arnbrd
Full Member
***
Offline Offline

Activity: 128



View Profile
October 20, 2016, 04:55:49 PM
 #12

The ban of cash hopefully won't be effective for a very long time. Until then Bitcoin will have widespread a lot more.

serjent05
Hero Member
*****
Offline Offline

Activity: 784



View Profile
October 20, 2016, 05:25:32 PM
 #13

get rid of cash.

Once governments finish their ban-on-cash global plan, and there's no escape from pinpoint governmental control, we better hope we have a strong, solid, decentralized-node Bitcoin, with nodes wide spread all across the globe, or else it will be the end of financial freedom for ever. Bitcoin is our last hope.

By then, people will start to realize the importance of owning Bitcoin and knowing how to use it. The price of Bitcoin will sky rocket to several thousands to millions of dollars per coin, as bast amounts of wealth move within the ecosystem.

With this you are just implying that bitcoin will never be felt by the mainstream.  I have come into conclusin because you said that government need to get rid of cash which is impossible.  Though I disagree that government needs to ban cash to be able bitcoin felt by the people, there are several way where government can work this two harmonously. Though bitcoin will be a secondary fiat money next to cash, i believe that with enough education and drive from the government, bitcoin will be felt by mainstream.

FORTUNEJACK.COM[
                            
5 BTC WELCOME PACK FOR 1ST 5 DEPOSITS
FREE 1,000 mBTC daily for LuckyJack winners
[
          
]
Kprawn
Legendary
*
Offline Offline

Activity: 1330


★Bitvest.io★ Play Plinko or Invest!


View Profile
October 20, 2016, 06:57:10 PM
 #14

Not all governments have the same outlook on a cash-less society, so it will not be that easy. The only way they will turn this into a reality,

is if they can offer cheaper cash {no minting & printing of fiat currencies}, with full control to manipulate the cap... like they are doing

now. Many of the 3rd world countries do not have the infrastructure or the money to built it, to be ready for a cash-less society and the

citizens are too poor to afford mobile phones. { They will have to subsidize digital devices like the Treazor for people like this }

franky1
Legendary
*
Offline Offline

Activity: 1890



View Profile
October 20, 2016, 07:28:35 PM
 #15

Not all governments have the same outlook on a cash-less society, so it will not be that easy. The only way they will turn this into a reality,
is if they can offer cheaper cash {no minting & printing of fiat currencies}, with full control to manipulate the cap... like they are doing
now.

national banks of:
india, america, canada, france, germany, finland, england, scotland, Switzerland, china, >13 african countries. and 40 other national banks
aswell as hundreds of private banking institutions are all working on hyperledger.

Many of the 3rd world countries do not have the infrastructure or the money to built it, to be ready for a cash-less society and the
citizens are too poor to afford mobile phones. { They will have to subsidize digital devices like the Treazor for people like this}
many african countries use phones for banking, not debitcards or paper currency. especially in poor countries.
check out the M-pesa. they have no problems with using phones.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
Wind_FURY
Hero Member
*****
Offline Offline

Activity: 574


★Jetwin.com★


View Profile
October 21, 2016, 04:42:11 AM
 #16

get rid of cash.

Once governments finish their ban-on-cash global plan, and there's no escape from pinpoint governmental control, we better hope we have a strong, solid, decentralized-node Bitcoin, with nodes wide spread all across the globe, or else it will be the end of financial freedom for ever. Bitcoin is our last hope.

By then, people will start to realize the importance of owning Bitcoin and knowing how to use it. The price of Bitcoin will sky rocket to several thousands to millions of dollars per coin, as bast amounts of wealth move within the ecosystem.

Getting a bit carried away and also a little bit extreme there, aren't we? The importance of Bitcoin is it has shown us a glimpse of what will be a few decades from now. Do I believe Bitcoin will be the main cryptocurrency in that future? No, I believe not. But it is the experiment that has preceded the open and decentralized payment network in the future. We have witnessed a breakthrough and "Bitcoin is our tour de force" according to Bill Gates. May it continue for as long as it takes for people to be shown the right way forward not only in finance but also in the power of decentralization as well.


▄▄▄████████▄▄▄
▄▄███▀▀▀ ▄  ▄ ▀▀▀███▄▄
▄██▀▀ ▄▄████  ████▄▄ ▀▀██▄
▄██▀ ▄███████    ███████▄ ▀██▄
██▀ ▄████████▀    ▀████████▄ ▀██
██▀ ██████████      ██████████ ▀██
██▀ ██████████        ██████████ ▀██
▄██                                ██▄
██ ▄                              ▄ ██
██ ███▄                        ▄███ ██
██ ██████▄                  ▄██████ ██
██ ▀████████              ████████▀ ██
▀██ ███████                ███████ ██▀
██▄ █████▀                ▀█████ ▄██
██▄ ████        ▄▄        ████ ▄██
██▄ ▀█      ▄▄████▄▄      █▀ ▄██
██▄    ▄▄██████████▄▄    ▄██▀
▀██▄▄ ▀▀██████████▀▀ ▄▄██▀
▀▀███▄▄▄ ▀▀▀▀ ▄▄▄███▀▀
▀▀▀████████▀▀▀
 

    [    ]
Xester
Hero Member
*****
Offline Offline

Activity: 672


★YoBit.Net★ 350+ Coins Exchange & Dice


View Profile
October 21, 2016, 05:16:13 AM
 #17

Not all governments have the same outlook on a cash-less society, so it will not be that easy. The only way they will turn this into a reality,

is if they can offer cheaper cash {no minting & printing of fiat currencies}, with full control to manipulate the cap... like they are doing

now. Many of the 3rd world countries do not have the infrastructure or the money to built it, to be ready for a cash-less society and the

citizens are too poor to afford mobile phones. { They will have to subsidize digital devices like the Treazor for people like this }

Yes that fact remains the same until today. Third world countries are countries with high average of poor people and that is to say that many who lived in the outskirts doesnt know what is a computer is and how much more cryptocurrency. But bitcoin is still felt though not by the masses but by the few individuals who have access to internet and have knowledge of cryptocurrency.

franky1
Legendary
*
Offline Offline

Activity: 1890



View Profile
October 21, 2016, 05:28:29 AM
 #18

Not all governments have the same outlook on a cash-less society, so it will not be that easy. The only way they will turn this into a reality,

is if they can offer cheaper cash {no minting & printing of fiat currencies}, with full control to manipulate the cap... like they are doing

now. Many of the 3rd world countries do not have the infrastructure or the money to built it, to be ready for a cash-less society and the

citizens are too poor to afford mobile phones. { They will have to subsidize digital devices like the Treazor for people like this }

Yes that fact remains the same until today. Third world countries are countries with high average of poor people and that is to say that many who lived in the outskirts doesnt know what is a computer is and how much more cryptocurrency. But bitcoin is still felt though not by the masses but by the few individuals who have access to internet and have knowledge of cryptocurrency.

the issues with 3rd world countries access to bitcoin is not technology. africa and cuba both use phones.. take african countries use of Mpesa for example.
but right now its bitcoins own "spam" transaction prejudice holding it back (the microtransaction debate)
for instance in:
Cuba minimum wage is $0.05 and a loaf of bread is $0.015
california minimum wage is $10 and a loaf of bread is $2

buying bread in cali' is just about acceptable as not being spam and costs a cali' citizen 3% of product (~$0.06tx fee) or 25 seconds of minimum wage labour
buying bread in cuba is not acceptable as its deemed spam and costs a cuban citizen 400% of product (~$0.06tx fee) or hour 1hour 2minutes of minimum wage labour.

moving an hours labour:
in cali' thats 0.6% fee($0.06c) to move $10
in cuba thats 120% fee($0.06c) to move $0.05c

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
Kakmakr
Legendary
*
Offline Offline

Activity: 1134

★ ChipMixer | Bitcoin mixing service ★


View Profile
October 21, 2016, 05:32:35 AM
 #19

The move towards a cashless economy are promoted, because a record of all economic transactions through electronic means makes it almost impossible to sustain black market or underground economies that often prove damaging to national economies.

The Orwellian levels of surveillance this grants them, is terrifying to say the least. People are becoming too dependent on centralized control, and we saw this when the Banks closed their doors during the economic crisis in Greece. What will happen if Banks close their doors and confiscate your money, without you having any control?

Bitcoin grants you the freedom to be in control of your own finances, and ignorant sheep are not seeing this threat, because they have never been through a Cyprus or a Greece event. ^hmmmmm^

franky1
Legendary
*
Offline Offline

Activity: 1890



View Profile
October 21, 2016, 05:39:39 AM
 #20

The move towards a cashless economy are promoted, because a record of all economic transactions through electronic means makes it almost impossible to sustain black market or underground economies that often prove damaging to national economies.

The Orwellian levels of surveillance this grants them, is terrifying to say the least. People are becoming too dependent on centralized control, and we saw this when the Banks closed their doors during the economic crisis in Greece. What will happen if Banks close their doors and confiscate your money, without you having any control?

Bitcoin grants you the freedom to be in control of your own finances, and ignorant sheep are not seeing this threat, because they have never been through a Cyprus or a Greece event. ^hmmmmm^

agreed but thats why banks are trying to flip over to hyper ledger and swap 'dollar' for a fiat-coin. to then offset the dollar debt to avoid bankruptcy.
because they know if they can bait and switch the sheep across from dollars to USFIATCOIN. the sheep will follow. and there will be no awakening due to bank customers not 'losing out'. they are just told the sheep dream of 'banking services have improved' to resettled them in the new wolfs pen.

however the surveillance and limitations of the new "services" will awaken SOME people. just like all the new banking rules like transfer limits AML checks and requirement of birth certificate just to have an account has woken up some already

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!