Ladies and Gentlemen, Bitcoin is about to be Centralized

[franky1]

It has been fun to watch the banksters go from:
You can't just make money you fools, only we can do that.  
to:
It can't work! because... well... it's not allowed!!!  
to:
Stop it! Just stop it now or give me a master key!!! It's not allowed!! Our monopoly is crumbling... Nooooo.  

many people have been pointing at Jihans 16% and saying here is the aggressor.... he owns the market... i laughed..
all this is to get people to not look at the BScartel who own things like BTCC and a few other pools.

many people have been pointing at xt, classic,bu and saying here are the aggressors....
all this is to get people to not look at the BScartel who own things like Blockstream which has the main puppet strings of core, knots, nbitcoin, rsk(lerner), bloq(gavin/garzic), bitgo and others

many people have been pointing at some exchanges and saying these are the aggressors....
all this is to get people to not look at the BScartel who own things like bitpay, bitpesa, coinbase, kraken, purse, shapeshift, xapo

many people have been pointing at a few blockexplorers and saying these are the aggressors...
all this is to get people to not look at the BScartel who own a few different explorers.

all in all when certain blockexplorers, merchant services, nodes, and pools are all going to only display blockchain X... you begin to realise it doesnt take 51% to do anything..

think you can get away from them by going for another implementation.. well Barry silbert cartel also puppet masters: knots, nbitcoin, rsk(lerner), bloq(gavin/garzic), bitgo

sooo....
want to know who controls the majority of the bitcoin DNS seeds.. yep blockstreamers

want to check the sats per byte of a tx.. guess who dangles the strings of 21.co...... yep the bs cartel

want to buy something using a merchant that uses bitpay or coinbase shopping carts.. then you better not be on any other fork, other than X
get peed off with not being able to spend Y funds via bitpay so want to grab a xapo debit card... tough luck X again

want to see if the transaction exists by double checking a blockexplorer.. well it better be on X..

[1714944336]

1714944336

[1714944336]

1714944336

[1714944336]

1714944336

[mindrust]

Holy crap they are actually serious with this stuff:

http://www.zerohedge.com/news/2017-06-14/you-wont-believe-stupid-new-law-against-cash-and-bitcoin

The bill also attempts to drop a major bomb on Bitcoin by including it in the list of monetary instruments that must be reported when entering or leaving the US.

So the Senate is essentially trying to force the Bitcoin core software to comply with money laundering regulations.

The article on zerohedge didn't mention anything about the blockchain master keys but i suppose the news that op posted is probably true.

Shit getting serious. Btc/Usd is falling because of those recent news probably. 

[Taki]

No one would agree with that idea since it's obvious that it's centralized/controlled and i'm sure bitcoiner will completely ignore this idea. Also, the idea to centralize bitcoin by bankers/government is nothing new.
I think the real threat is miners power over bitcoin consensus/scaling and we've seen the impact, block size is still 1mb while tx fee keep rising that make few bitcoiner move to altcoin.

I am sure that nobody would even think to make bitcoin controlled if the price would stay as in the most begginning. All that is happening only because of bitcoin's huge price and the perspective of future growth. I am against this idea, it will change the whole idea of bitcoin as it was created. No doubt that Satoshi N. also disagrees.

[UCHCHILD]

I think people cannot take and make it centralized and it was been rumors for almost years and no prove it because fortunetly they cannot do that thing. No one will agree with this idea because the features of bitcoin will be fade out and change more like a bank. For sure that if this thing will gonna happen people will go away to the bitcoin and endulge in some alt coin that is decentralized. Because first of all people do not want centralized coin, never want to be controlled by other like what OP stated being slave by others

[darklus123]

Well, they way ypu talk it seems that you really is only using a blockchain wallet. I think that there are a lot of wallwt  that is goong to be bukld a better one of blockchain so there is nothing to ne afraid of

[easynote]

It is depended on how you are collecting Bitcoin because if you are collecting Bitcoin as normal way: faucet claiming, ou are really wasting your time doing useless things.

But its definitely worth if effort is somehow adequate to profits. It's good to have something like BTC saving account that would give you even small revenue for deposit.

It is certainly worth collecting bitcoin according to our capabilities and availability of time. We can not require someone who just starts on this to collect large amounts of bitcoin, nor can compare his capabilities with those of an expert trader. I think everyone has the right to do their best, although in the case of those who invest a lot of time just to collect few satoshi through faucets, perhaps it might be more convenient for them to have a normal job to later acquire bitcoins with a part of their income.

I would be very wise if the person that was trading Bitcoins had a goal to try to get as much Bitcoin as possible. If the trader was only trading to get a daily/monthly income in some currency then they might as well trade Forex because they aren’t 100% in Bitcoin.

[jbreher]

Holy crap they are actually serious with this stuff:
....

Yes they are. Too bad the genie's already out of the bottle.

OTOH, I don't know why you'd link some crappy news site, when the text of the actual bill submitted in congress for consideration is just one more link away:

https://www.congress.gov/bill/115th-congress/senate-bill/1241/text?r=49

[jonald_fyookball]

Relax, they can want things but they won't be getting it. If they ever get it by threatening the devs, the word will be out instantly and bitcoin will evolve/fork and keep going. Gov guys can do anything they like with the remaining empty chain, just like Jihan is gonna after Aug1.

Bitcoin is invincible.

they bought the core dev team through bankster connections -->Bilderberg -->axa --> blockstream --> core devs

its taken years to undo the propaganda.

aug 1 it will be over.

[U2]

Please.  

They may want a "master key" but it ain't gona happen.

EDIT: How is someone going to do this? wait for it.... wait for it... I have been waiting since 2010 for a logical answer to this concern. Just one.

Lol the funny thing is they don't know that the master key was melted. Good luck trying to figure that one out bankers! Is the OP really this bad at trolling? Another eth shill?

[Wind_FURY]

“Regulators are looking to have a master key so all transactions are visible to them,”

A Market Watch article, which quoted Morgan Stanley, further stated the blockchain is a “centralized” ledger that records all transactions and that the investment bank did not specify what regulations would be necessary.

Those quotes are from the first paragraph. These people clearly have no idea what they are talking about, and the mere suggestion of "regulating" Bitcoin shows that they have not done their research thoroughly. Maybe they can regulate Bitcoin merchant acceptance to be under the rules of KYC/AML, but to tell a person not to use Bitcoin is unenforceable.

[xuan87]

Many people want to try to regulate bitcoin but it won't happened, most of the people don't want bitcoin to be regulated if that guys really able to make bitcoin centralised then a lot of people will rejected it and then the we will choose another coin to invest, so it is not a scary news

[BossMacko]

In my opinion the reason why bank wants to get a hold with bitcoin this year is because of the price of Bitcoin. Bitcoin will fall if bank will succeed in doing this because lots of people will quit Bitcoin try to think with this, you'll pay for transaction fee at the same time you'll pay the bank. People will move to other alt coin and bank will find a way to control an alt coin that is good as Bitcoin again and again,

[TomUyamot]

I don't understand. It runs in complete opposite direction from the bitcoin founder Nakamoto's original vision.

Bitcoin is revolutionary so to speak. Bitcoin was founded upon the idea of challenging the prevailing system in commerce. Bitcoin rejects third party system in purchasing. Bitcoin is a new technology promoting decentralization.

And now, all of a sudden, they want to impose the principle the creation of bitcoin originally intended to debunk? 


  

[krishnapramod]

Regulators are looking to have a master key so all transactions are visible to them

Even now all transactions are visible on the distributed ledger. Master key. Really?

Permissioned blockchains—a digitally distributed ledger where authorized users can record, process and verify transactions—to streamline their own operations and costs.

Guess this is where they need the key to access centralized blockchain to grant permission to authorized users only to record, process, and verify transactions.

The bank implied bitcoin and its ecosystem would need to submit itself to regulation prior to seeing any future growth.

Bitcoin was created solely to get rid of the banking system. And now they expect it to team up with them. Ridiculous.

If the banks want to try, test, and implement centralized blockchain technology on their banking operations, it is good for them, but they would not be able to enforce it on bitcoins.

[deisik]

Why are you not worried brothers?

Why am I not worried? How about the fact that there is no such thing as Bitcoin blockchain master key? Duh.

They claim to seek the impossible. Not sure if they are stupid, or just engaged in some public misdirection. Probably the latter...

But you certainly should be

It is not that their claim is impossible to fulfill as such (that goes without saying), it is precisely because they can't have such a master key that they can demand Bitcoin to be banned. They can't simply ban Bitcoin after it has been around for so many years. They can't just ban it on the pretext of it being used for "terrorism financing" (since that would be outright bullshit), but it is another story if the authorities claim that they can't see who is behind a certain transaction. They don't even need to ban Bitcoin out of hand, they could just force the developers to change the code and community to accept these change under the threat of banning Bitcoin altogether

[Kakmakr]

I quote :  "They would create controlled blockchains only authorized individuals could access. This would allow them to maintain the prominence of their banking industry and adopt streamlined regulations while leveraging blockchain technology." So, they cannot control Bitcoin and for this reason they would create permission Blockchains which they will be able to control. They control the code and the development and how much their BankCoin will be worth. 100% centralized control is the most dangerous technology that you can have.

This is just cash stripped of all anonymity and controlled by banks. ^scary^

Bitcoin removed centralized control and added pseudo-anonymity to protect you from evil people {masters} like this. We know how banks operate and how money supply are being manipulated to control your wealth and to protect the Masters. ^grrrrrrr^

[Juggy777]

"Regulators Needs the Blockchain Master Key" — Morgan Stanley
http://internetmarketing.freedombucks.ws/morgan-stanley-regulators-need-the-blockchain-master-keys-3/

Insecured Elites are about to takeover the Blockchain. It's more like few people taking over the Internet.
For the first time in my life I am very terrified of our future. This people are not government, I know what they are capable of. They claim that regulating the New Internet (Blockchain) will increase the price of Bitcoin, this is a big lie.
 
Why are you not worried brothers? . How can you create a beautiful technology only for a few dangerous people to hijack it.
The people we are about to entrust the Blockchain network on are capable of wiping out a whole community. They are dangerous people.
Wake up everybody, we are about to be enslaved. Wake up.

Another stupid attempt to try and make Bitcoins centralized, they will fall flat to their face and nothing will come out of it. Look at the history every time they have just been trying only to fall flat on the face. This attempt shall also meet a dead end and I am sure of it, they can try as much as they want but they shall not succeed, why can't they leave Bitcoins alone, why mess up the only thing that is helping so many survive.

[haroldtee]

I ain't scared cause it will never work. Just some bunch of wannabe hypocrites. They can try all they want, but they can go screw themselves for all I care. They are just on the look out for what they can't find. Master key my foot.

[qiman]

I do not think Bitcoin can ever become a centralized entity. I do believe though that many Governments, Central Banks and Elite organizations will adopt Blockchain technology to streamline their operations. They are already doing it wiht RIPPLE and other tokens and platforms.

[franky1]

They are just on the look out for what they can't find. Master key my foot.

CORE = master key

its time we decentralise and distribute further by having MANY implementations of different programming languages to dilute CORE control
stop letting core make all the decisions.

if core wanted to do the right thing they would have

0.14.2A - segwit november 2017
0.14.2B - segwit november 2017+dynamic blocksize
0.14.2C - dynamic

and then let the whole community come to a consensus wher the other brands do something similar.
thus removing the brand drama and making the debate about which consensus is formed.