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practicaldreamer
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September 22, 2017, 07:15:04 PM |
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Consider the following:
Governments close down:
- All or nearly all major exchanges
- All or nearly all major online market places using Bitcoin or some other crypto they want to target, including those on the darknet (on which LE is quite succesfull as of late)
- Outlaw Bitcoin (or again, some other crypto they want to target) transactions altogether, and actively police shops and companies that openly accept it.
You do not consider that this scenario 'might be problematic'? As said thousands of times before: nearly no one uses Bitcoin in the present. The percentage of the population that heard of it is (very) small as well. Without mainstream backing this will be a massive hurdle, if not a fatal one, as by far most people in society are not even interested in the ideological goals of hardcore Bitcoiners. And those people will be reading newspapers as well, including those that constantly vomit out negative stories about it.
Whatever happens, governments can effectively crack down on Bitcoin and other crypto if they'd like. There is no need to take down the network in order to make that possible.
True, but I don't think that all the countries will reach an agreement to do so. If a country bans bitcoin (ex China) another country will see this as an opportunity to attract new businesses (ex Russia) Agreed. |
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ParabellumLite
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September 22, 2017, 07:16:28 PM |
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Consider the following:
Governments close down:
- All or nearly all major exchanges
- All or nearly all major online market places using Bitcoin or some other crypto they want to target, including those on the darknet (on which LE is quite succesfull as of late)
- Outlaw Bitcoin (or again, some other crypto they want to target) transactions altogether, and actively police shops and companies that openly accept it.
You do not consider that this scenario 'might be problematic'? As said thousands of times before: nearly no one uses Bitcoin in the present. The percentage of the population that heard of it is (very) small as well. Without mainstream backing this will be a massive hurdle, if not a fatal one, as by far most people in society are not even interested in the ideological goals of hardcore Bitcoiners. And those people will be reading newspapers as well, including those that constantly vomit out negative stories about it.
Whatever happens, governments can effectively crack down on Bitcoin and other crypto if they'd like. There is no need to take down the network in order to make that possible.
True, but I don't think that all the countries will reach an agreement to do so. If a country bans bitcoin (ex China) another country will see this as an opportunity to attract new businesses (ex Russia) That is not even necessary: every hurdle that gets thrown up will add more resistance for mainstream adoption. I also categorically deny this idea that countries are interested in building a BTC ecosystem out of which they are supposed to profit. It runs contradictory to national interests, unless the state itself would be completely crooked as well. In that case, there's a chance. |
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JayJuanGee
Legendary
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Activity: 3696
Merit: 10188
Self-Custody is a right. Say no to"Non-custodial"
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September 22, 2017, 07:21:22 PM |
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The cat is out of the bag, with respect to blockchain tech. Bitcoin on the other hand? I wouldn't be so sure yet.
It's not possible to create a decentralized cryptocurrency, only ones that increasingly centralize over time. This means none of this garbage has any fundamentals and the only byproduct of this entire sector will be federated chains, aka the ones govt and corporations will use to try and enslave you. Some people on these forums are genuinely stupid and haven't figured this out, but many know this is true yet still promote bitcoin to try and defraud other random bums for pump and dump profits while spamming fictional Andreas Antonopolous bumper sticker slogans. You could be correct that in the long trajectory, any decentralized system of crypto currency will become coopted - however, in the meantime, that is not the situation, and who gives a ratt's ass what happens 500 years from now. We chose our investment and support based on the present situation, rather than some speculative situation that has not yet come to pass. In the mean time, we have bitcoin, which is a new paradigm that has the potential to surplant all previous systems - and right now, bitcoin is a small fucking entity that has a lot of upside potential in this regard, in the short term(1-5 years) medium term 10-20 years and longer term (50+ years). If factors change, then we can adjust, but none of us know exactly how all of this is going to evolve and the level to which governments and/or financial institutions and/or other factors are going to infiltrate bitcoin and cause various abilities to change it and control it... at the moment it is proving to be amongst the most decentralized and powerful institutions (if we call it that) ever built... and we should treat it according to what it actually is and has the potential to be and don't be misguided into some scenario that is currently not what we got. Am I not correct? |
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ragnar0k
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September 22, 2017, 07:22:02 PM |
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Ted E. Bare
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September 22, 2017, 07:29:21 PM |
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Who sold at the bottom?  Oh Ted, what's going on. Why aren't we at 32k yet? We need to hodl a little bit longer RJ. You are a Legendary now! |
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cAPSLOCK
Legendary
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Activity: 3738
Merit: 5127
Whimsical Pants
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September 22, 2017, 07:36:10 PM |
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Cryptocurrencies are fast becoming a litmus test for determining which governments truly value and promote liberty for their citizens, and which are only paying lip service to personal freedom. -cAPSLOCK 9/2017
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practicaldreamer
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September 22, 2017, 07:36:26 PM |
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Am I not correct?
You are correct. |
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Hoho29
Member
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Activity: 145
Merit: 10
HalommmmE is my LOVE
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September 22, 2017, 07:46:21 PM |
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Maybe they should ban gold and silver too.
if someday they found gold and silver against their interest and they have no control over it . gonna ban it for sure . |
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rjclarke2000
Legendary
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Activity: 1358
Merit: 1016
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September 22, 2017, 07:48:59 PM |
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Who sold at the bottom? Oh Ted, what's going on. Why aren't we at 32k yet? We need to hodl a little bit longer RJ. You are a Legendary now! This is true, I am. Would have been there sooner if I'd joined straight away instead of lurking in the shadows for so long. I believe I am one of the strongest hodlers here so business as usual for me. Disclaimer- Ain't never sold a satoshi. |
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rjclarke2000
Legendary
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Activity: 1358
Merit: 1016
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September 22, 2017, 07:50:31 PM |
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Maybe they should ban gold and silver too.
if someday they found gold and silver against their interest and they have no control over it . gonna ban it for sure . Some here say gold and silver are great stores of value and also can be used to buy things. There is way way more money in precious metals than bitcoin so why aren't they banning it? BUT.......bitcoin they are worried. What's that tell you? |
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Ludwig Von
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September 22, 2017, 08:07:22 PM |
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Maybe they should ban gold and silver too.
if someday they found gold and silver against their interest and they have no control over it . gonna ban it for sure . Some here say gold and silver are great stores of value and also can be used to buy things. There is way way more money in precious metals than bitcoin so why aren't they banning it? BUT.......bitcoin they are worried. What's that tell you? Historic precedents show that governments do not ban PMs but confisquate them... . Even the land of the free did, not so long ago... . And my personal opinion, same will be attempted with btc. That is why China does not just simply close the miners... . |
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JayJuanGee
Legendary
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Activity: 3696
Merit: 10188
Self-Custody is a right. Say no to"Non-custodial"
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September 22, 2017, 08:36:18 PM |
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I will be interesting to se whether this week's candle is red or green. Right now, we are bouncing a bit below the turning point for the candle, and it appears that it needs to be above $3660 in order to be green. Two more days and 2.5 more hours, before it closes. |
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Last of the V8s
Legendary
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Activity: 1652
Merit: 4392
Be a bank
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September 22, 2017, 08:38:23 PM |
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...
I will be interesting ...
promise? |
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conspirosphere.tk
Legendary
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Activity: 2352
Merit: 1064
Bitcoin is antisemitic
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September 22, 2017, 08:39:40 PM |
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I'm getting an upgrade in November. What's the best out there? Samsung?
I'd give a look at something like this: https://itsfoss.com/librem-linux-phone/2nd best option: find a brand more constantly updated with security patches. |
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JayJuanGee
Legendary
Offline
Activity: 3696
Merit: 10188
Self-Custody is a right. Say no to"Non-custodial"
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September 22, 2017, 08:41:58 PM |
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...
I will be interesting ...
promise? I cannot promise because you guys are a tough audience. You fucks!!!!  |
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conspirosphere.tk
Legendary
Offline
Activity: 2352
Merit: 1064
Bitcoin is antisemitic
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September 22, 2017, 08:47:22 PM |
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There is way way more money in precious metals than bitcoin so why aren't they banning it?
BUT.......bitcoin they are worried. What's that tell you?
Because they can't manipulate btc as effectively as gold and silver yet. Maybe when the bankers will enter the market with their "instruments" they will. But at some point manipulations end. Find about the London gold pool story for a relatively recent case. https://en.wikipedia.org/wiki/London_Gold_Pool |
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Nam3
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September 22, 2017, 08:52:39 PM |
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I will be interesting to se whether this week's candle is red or green. Right now, we are bouncing a bit below the turning point for the candle, and it appears that it needs to be above $3660 in order to be green. Two more days and 2.5 more hours, before it closes. Something tells me if it won't go green then it'll go red for sure. I'm just wondering how deep that green/red candle would be  |
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JayJuanGee
Legendary
Offline
Activity: 3696
Merit: 10188
Self-Custody is a right. Say no to"Non-custodial"
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September 22, 2017, 09:00:36 PM |
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I will be interesting to se whether this week's candle is red or green. Right now, we are bouncing a bit below the turning point for the candle, and it appears that it needs to be above $3660 in order to be green. Two more days and 2.5 more hours, before it closes. Something tells me if it won't go green then it'll go red for sure. I'm just wondering how deep that green/red candle would be You sound like a bit of an exaggerator. For what purpose? Effect? Yeah.. there is no in between when it comes to candle closing colors, it is either going to go green or red. Regarding depth, who fucking knows? currently, it is not even clear which direction it is going to go, so how would we presume any kind of further step about depth? In the beginning of the week, I was more inclined to predict that this week's candle would be green and even that we were heading back up - after recent price performance, I am a bit more torn about which direction is more likely - it could go either way, and there may even be a slight edge to down, but that slight edge does not mean that the down would be BIG, or even long lasting. |
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Nam3
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September 22, 2017, 09:04:47 PM |
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I will be interesting to se whether this week's candle is red or green. Right now, we are bouncing a bit below the turning point for the candle, and it appears that it needs to be above $3660 in order to be green. Two more days and 2.5 more hours, before it closes. Something tells me if it won't go green then it'll go red for sure. I'm just wondering how deep that green/red candle would be You sound like a bit of an exaggerator. For what purpose? Effect? Yeah.. there is no in between when it comes to candle closing colors, it is either going to go green or red. Regarding depth, who fucking knows? currently, it is not even clear which direction it is going to go, so how would we presume any kind of further step about depth? In the beginning of the week, I was more inclined to predict that this week's candle would be green and even that we were heading back up - after recent price performance, I am a bit more torn about which direction is more likely - it could go either way, and there may even be a slight edge to down, but that slight edge does not mean that the down would be BIG, or even long lasting. For the sake of curiosity. BTW; I'm a trader, so you know how it works. |
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RoomBot
Legendary
Offline
Activity: 2268
Merit: 1123
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September 22, 2017, 09:05:18 PM |
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Well my take on the current state of play is like this:
People who had the inside knowledge on what was brewing in China shorted and dumped to induce some fear into the market.
Then starts the FUD, drip, drip, drip. Price goes down accordingly. Then the actual news was confirmed. Down some more. Nom,nom, cheap coins.
Then Jamie Demon, who probably also had the inside line on China has a go. Even cheaper coins. All while the price hasn't gone anywhere near parabolic for this cycle. Banks are scared, with profit and revenue down. To them $180bn is a big fucking pie. Governments are worried too, as we all know. They would all love to see crypto fail. And yet some people still want even cheaper coins, cue more FUD about China banning mining. These people are either playing the long game and don't care if they push it into a bear market, or they think it's gonna moon.
I know what I'm betting on. If I'm wrong and it goes down, I ain't too bothered. I'm in it for the long haul.
Peace out boys. Not you though r0ach. Scuttle off back to your hole you weird racist prick.
Then Dimon's minions buy the dips at Morgan Stanley Chase.  |
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