Ladies and Gentlemen, Bitcoin is about to be Centralized

[Ucy]

"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.

[1713966037]

1713966037

[ebliever]

They've been wanting to control it for years, that is nothing new. If you think they stand a chance of succeeding, watch what is going to happen with Jihan Wu's MASF for he's announcing for August in response to BIP148. If the dominant miner can't control Bitcoin (and I expect his effort to fail spectacularly), what chance to a clueless bunch of bankers with no miners have?

[Iranus]

Permissioned blockchains would be completely separate from Bitcoin.  Banks can try to centralise Bitcoin and they might succeed, but they know perfectly well that there are an unlimited amount of potential altcoins and that at this point if people want decentralisation they will find it and they will use it.
Although regulation will increase the price, because the Bitcoin price is mostly speculation and people feel better buying it when exchanges are safer.

[RodeoX]

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.

[HabBear]

I don't think there's concern here.

First, you have uniformed investors trying to get on the train so they call their Financial Advisor and get the standard comment about why the SEC blocked the BATS ETF request. This doesn't mean that these investors can't get on the train, they just need to be directed to Coinbase and some of the other mainstream bitcoin exchanges and online wallets.

Second, you have uniformed financial advisors / bankers. There was a comment about regulators wanting to get full visibility into the transactions. That visibility already exists...everyone can see every transaction that hits the blockchain. What regulators really want is to know the identity of who's making the transactions (which people and entities) and they likely want control of that data so they can police it. This can't happen. Not that it shouldn't happen (obviously it shouldn't), but it's not physically possible - is it?

In what way could regulators actually gain control of the Blockchain? Literally, how could it be done?

A way that this community can combat this investor-driven regulator interest is to introduce the uniformed investors you know to the most mainstream online wallet and exchange in your country. This introduction to how to invest in Bitcoin will stop the comments to the Investment Banks.

[DooMAD]

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.

Meh, dumb banksters are dumb:

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

Unless they're talking about one of the privacy-oriented coins, all transactions on the blockchain are visible to them.  I think what they actually mean to say is they want to access the personal data of all the participants who are transacting on the blockchain so they can:

• store it insecurely
• do some analysis on it
• sell the analysis to highest bidders
• lose everyone's personal data to a hack (and not for the first time)
• pretend it's not their fault, learn nothing and repeat the whole process again later

If we're not worried about "being enslaved", the reason is two-fold.  Firstly, it's that we were already enslaved before crypto became a thing and now we are free.  And secondly, because we know what we have here is safe from the bankster assclowns, because they are too dense to understand the whole appeal of it to begin with, let alone understand it well enough to maintain even the slightest semblance of control over it.  The article even states as much:

They said: “It is not clear why cryptocurrencies are appreciating so rapidly (apart from the appreciation itself drawing in more speculation against a potentially inefficient ability to sell).”

It couldn't possibly be that maybe we don't want to sell?  That we realise fiat monopoly money is going to be printed into oblivion and the IOUs will approach near-worthless as time rolls on?  That we know they have a laughable security record and cost their customers time, money and effort with each and every fraud the banksters have enabled with their flawed and insecure system.  Speculation may well be largely responsible for the ballooning fiat price of crypto, but those who understand it best are accumulating and hodling.  

The only thing in the article is where they really hit the nail on the head is where they recognise what the banksters want:

They would create controlled blockchains only authorized individuals could access. This would allow them to maintain the prominence of their banking industry

Maybe they should call their controlled blockchain "Blockbuster", since that particular style of business model worked so well for them.    

[noob2020]

Hasn't it been centralizing for a while now?

[gentlemand]

They will end up with a master key for nothing because for starters it's not possible, and second there won't be a Bitcoin to shut down as anyone with an operating mind will abandon it.

Funnily enough it's grown as far as it has without The Man having a kill switch and is growing ever faster. That won't change no matter what they squeal for.

[David Rabahy]

Waste of time/effort; "Bad guys" will (if they haven't already) find a home on altcoins without a master key (if that's even possible).

On the other hand, I don't doubt for a second that eventually the authorities will begin knocking on doors.  Our hope is they run out of money (or political support) to pay for enforcement troops before they do.  Make friends with a cop and get him started on Bitcoin in order to educate them.

[Jlcbba]

The USA is not likely to become the accepted regulators of bitcoin when Asia, Europe, etc are as invested in BTC.  I could see this one day becoming an issue of the UN.

Likely someone in the US will come up with an altcoin on a private blockchain that can be traded in the us exchanges. But its not likely to be. BTC.

And if they want to do that, let them. Blockchain is now a concept that surpasses Satoshi's vision.  I'm sure Napster never thought that their decentralized p2p music sharing model would end up as a commercial centralized p2p model in something like Uber.

[mindrust]

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.

[RodeoX]

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.  

[Superzpay]

They are just wasting their time because no one will agree to use bitcoin under them. It is known to everyone that if Bitcoin became a centralized then people will search for another type of cryptocurrency and will adopted another type of currency for their use. The Bitcoin developer also known it better so they will not let bitcoin to become a centralized currency.

[ImHash]

You can't contain the decentralized revolution </insert Trump's meme here> I'm already awake and I know Wu is too small to be considered a threat believe me I can tell what's going on down there just by looking at his face in a picture he is too small for bitcoin, the biggest mother fu*kers in the world tried and failed more than few times by now.
Or are you talking about Core and blockstream? if so then shut up.

[maku]

Hasn't it been centralizing for a while now?

Centralized like what? Regarding hash power mainly coming from China you are right, but this is not centralization.
Real centralization would be when we will have one person standing behind bitcoin, having ultimate power over it and influencing its evolution.

[BurstIncomeAsset]

While some people can buy all the ASICs in the world, including the ASIC factories, and others can't buy a single one, Bitcoin will be centralized.

[pixie85]

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.

+1
I want Satoshi's private keys.

Bitcoin won't be centralized unless people decide they want it to be centralized and vote for a fork. There are some projects floating around but none of them is going to get enough support.

[jbreher]

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...

[pearlmen]

"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.

Whatever they feel is right for them to do, they should go ahead but what I am sure is that its part of the reasons like this that Satoshi had to leave the space individuals who will want to reap from where they don't sow. Anyway, in as much as the community is still there they won't succeed and I trust the man who gave us this liberation would not be to relaxed for it to be turn into a nightmare.

[Weatherby]

I will accept that some of the alts coins could be centralized and controlled by a single entity but not bitcoin,as you really cannot be controlled by a center figure and so i have nor worries about it when it comes to bitcoin,so these are just pep talk just to create chaos to the newbies coming into bitcoin.