Ladies and Gentlemen, Bitcoin is about to be Centralized

[ladydark]

It has been already tried by many before but they could not succeed.Roger ver and Jihan wu also tried a lot.We could see clearly that some of them would fail after August 1st.But such rumours would only make new investors get panic and we shall face small price drops in bitcoin temporarily.

[1714972234]

1714972234

[Anegg]

"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.

Don't believe everything people say, especially on the internet. Just because the regulators want a master key to bitcoin, doesn't mean they will succeed. There is no risk here, although the banks may eventually centralise Bitcoin but the thing is: even if Bitcoin gets centralised, there will be more and more decentralised alt coins, so there is no point of doing that.

People have tried to find the master key to bitcoin but they have all failed. It's just rumours and you have nothing to fear.

[LouVandetta]

Is this news even true?
And is that even possible?

I guess this is not the first time that these kind of news appeared.

If that's really true, and the regulator really did will make it happen,
Is t really going to work? Is it really that easy to make it happen?

[KennyR]

"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.

Don't believe everything people say, especially on the internet. Just because the regulators want a master key to bitcoin, doesn't mean they will succeed. There is no risk here, although the banks may eventually centralise Bitcoin but the thing is: even if Bitcoin gets centralised, there will be more and more decentralised alt coins, so there is no point of doing that.

People have tried to find the master key to bitcoin but they have all failed. It's just rumours and you have nothing to fear.

Agreed, bitcoin might be functional in the banking network in a centralised manner, but the entire bitcoin network always stay decentralized. As mentioned when the competitors stay as decentralized bitcoin too will stay long in the track as it is, corporates create such rumours just to take bitcoin under their control as the growth of digital currency were booming big.

[charlescoin]

This looks like a lot of conspiracy bs. You can say bitcoin is already centralize from the mining point of view but the whole governments/regulators want to take over the blockchain thing is a load of crap. They may like the tech though and create their own altcoins which is only a good thing to give more competition to the crypto sector.

[aesma]

I find the article quite reassuring, clearly they don't understand the first thing about Bitcoin and blockchain technology !

Controlling BTC might be possible but it would need something extremely clever, and extremely coordinated. Not really government like.

NSA and CIA probably know everything there is to know about BTC, but usually these entities like "cover money" to do their stuff, so I'm sure they're BTC users.

[iamTom123]

It has been already tried by many before but they could not succeed.Roger ver and Jihan wu also tried a lot.We could see clearly that some of them would fail after August 1st.But such rumours would only make new investors get panic and we shall face small price drops in bitcoin temporarily.

Utilizing the power of fear and lies, uncertainties and panic can easily spread online which can affect Bitcoin's value and can push for more volatility. This is quite normal in our interconnected world -- are we not living in a global village? This is one of the many disadvantages of being online and in riding the Bitcoin bandwagon. But then despite all of these things, we all know that Bitcoin is the future of money and we will not let this opportunity go by  for whatever reasons others are concocting in their minds. Human nature remains the same through the ages and the tools and toys are just the different. We are still greedy and we only think primarily of our own interest and not that of the community as a whole. However, I have a firm belief that soon things can get changed. I am looking forward for that day.

[stompix]

"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.

Don't believe everything people say, especially on the internet. Just because the regulators want a master key to bitcoin, doesn't mean they will succeed. There is no risk here, although the banks may eventually centralise Bitcoin but the thing is: even if Bitcoin gets centralised, there will be more and more decentralised alt coins, so there is no point of doing that.

People have tried to find the master key to bitcoin but they have all failed. It's just rumours and you have nothing to fear.

If we were to take reassurance from guys like you we won;t be able to sleep too well
So for you there is no risk, but banks may eventually centralize bitcoin...
Where is the no risk there?
If they do this with bitcoin the whole altcoin backup plans fails. They are altcoins, 99% same code as bitcoin , one copy paste and they are the same to the last bit.

And nobody has tried to find a master key.
It's just a damn expression they have used in the article and it is common used when assuming control but with so many people with poor English skills no wonder this whole thread has gone nuts.

[ubercool]

This looks like a lot of conspiracy bs. You can say bitcoin is already centralize from the mining point of view but the whole governments/regulators want to take over the blockchain thing is a load of crap. They may like the tech though and create their own altcoins which is only a good thing to give more competition to the crypto sector.

I dont think this is ever going to happen. It will kill the main reason behind the blockchain and Bitcoin. If we want a centralized currency then we already have the country's currencies run by banks and governments. Its a shitty idea and no one will agree to it.

[Adbitco]

It has been already tried by many before but they could not succeed.Roger ver and Jihan wu also tried a lot.We could see clearly that some of them would fail after August 1st.But such rumours would only make new investors get panic and we shall face small price drops in bitcoin temporarily.

Utilizing the power of fear and lies, uncertainties and panic can easily spread online which can affect Bitcoin's value and can push for more volatility. This is quite normal in our interconnected world -- are we not living in a global village? This is one of the many disadvantages of being online and in riding the Bitcoin bandwagon. But then despite all of these things, we all know that Bitcoin is the future of money and we will not let this opportunity go by  for whatever reasons others are concocting in their minds. Human nature remains the same through the ages and the tools and toys are just the different. We are still greedy and we only think primarily of our own interest and not that of the community as a whole. However, I have a firm belief that soon things can get changed. I am looking forward for that day.

I agree. I also think that creating such topics do create FUD. Everyone is not as much educated about bitcoin as few others might be. Bitcoin is what it is today because of the huge number of people supporting it and this huge number of people support it because of among other things bitcoin's being decentralized so if anybody by any means becomes able to make it centralized I think a lots of people will stop using it and bitcoin will no longer be what it is today. Bitcoin has been a decentralized currency and it should remain so for the wider acceptance.

[megynacuna]

It has been already tried by many before but they could not succeed.Roger ver and Jihan wu also tried a lot.We could see clearly that some of them would fail after August 1st.But such rumours would only make new investors get panic and we shall face small price drops in bitcoin temporarily.

I agree with everything you've said, these rumors and negative propaganda against Bitcoin are just meant to scare the newcomers away and so it's about time people understand the dynamics and know that not everyone wants the best for our beloved Bitcoin and these guys will do anything to run it down so don't just panic over a small tumble and sell.

[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

Sure, sure I'd have to agree with most of that BUT only if you add ... "in that particular country"  to the end. Oh no, the USA bans bitcoins!? ... and the world keeps on turning.

If the US outright bans Bitcoin, it will be an end of the game for it

Indeed, it won't die, but the life which it will drag from then on will likely be worse than being dead. Obviously, if the US should ban Bitcoin, it won't ban it in the US territory alone. It will likely raise the issue at the UN Security Council, and how many countries do you think will reject this proposal given that Bitcoin is hated by almost every government out there (deep inside). Maybe, Japan will stand for Bitcoin? But Japan is basically a country with limited sovereignty. And who do you think its sovereign is? Right, the US, so there is no way that the world will keep on turning as before

[jpoker272727]

We are aware of that but I doubt that bitcoin can go fully centralized as there are some rooms that allow people to use bitcoin with some privacy!

But if bitcoin gets fully centralized then there are some other coins that allow you to have more privacy.

Some companies that offer bitcoin service such as exchanges and bitcoin debit cards issuers they have lots of info and they have to report to government about their clients.

[SaShiRaJaVu]

If the US outright bans Bitcoin, it will be an end of the game for it

Indeed, it won't die, but the life which it will drag from then on will likely be worse than being dead. Obviously, if the US should ban Bitcoin, it won't ban it in the US territory alone. It will likely raise the issue at the UN Security Council, and how many countries do you think will reject this proposal given that Bitcoin is hated by almost every government out there (deep inside). Maybe, Japan will stand for Bitcoin? But Japan is basically a country with limited sovereignty. And who do you think its sovereign is? Right, the US, so there is no way that the world will keep on turning as before

It is really difficult to see a dumb decision being taken from a country like US as it gives the opportunity for technology and innovation to grow rather than shutting it down,bitcoin wont die unless the network shows some serious bugs and i am sure even that will be solved by the developers pretty soon as some brilliant brains are behind it.

[hdbuck]

not gonna happen. chillax fellow bitcoiners.

[squatz1]

While this is newsworthy and all I really don't see something like this coming to light yet, we're not that much of an issue upon the governments and the big banks for them to want to be able to shut us down in an instant. I know at some point this is all going to come crashing down when the banks, politicians, bureaucrats, and so on join together in a way to be able to fuck us all up for a good amount of time but that time isn't going to be now. Once we really start getting more and more adopters to the point where they have to shut us down, they will.

I feel BTC is already centralized when we're looking at the issues of mining and such, as that's an insanely centralized thing when it comes to the manufacture of the miners themselves.

[myparentsdisownedme]

THis can't happen to ethereum can it?

[xderek]

It has been already tried by many before but they could not succeed.Roger ver and Jihan wu also tried a lot.We could see clearly that some of them would fail after August 1st.But such rumours would only make new investors get panic and we shall face small price drops in bitcoin temporarily.

Yeah I see they would try make it better in terms of laws but then the general consensus is that decentralized should not be in anyone hands, but free to go whenever the security can lead to and the adoption, the simplicity.

[Feri577]

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.

I really agree with you no matter what happens I still support bitcoin program and will always follow its development.

[deisik]

If the US outright bans Bitcoin, it will be an end of the game for it

Indeed, it won't die, but the life which it will drag from then on will likely be worse than being dead. Obviously, if the US should ban Bitcoin, it won't ban it in the US territory alone. It will likely raise the issue at the UN Security Council, and how many countries do you think will reject this proposal given that Bitcoin is hated by almost every government out there (deep inside). Maybe, Japan will stand for Bitcoin? But Japan is basically a country with limited sovereignty. And who do you think its sovereign is? Right, the US, so there is no way that the world will keep on turning as before

It is really difficult to see a dumb decision being taken from a country like US as it gives the opportunity for technology and innovation to grow rather than shutting it down,bitcoin wont die unless the network shows some serious bugs and i am sure even that will be solved by the developers pretty soon as some brilliant brains are behind it

I basically agree that it would be a dumb decision

I was just replying to a post which questioned whether a certain government banning Bitcoin would have devastating consequences for Bitcoin (or any at all). If such inconsequential countries like Zimbabwe or Venezuela banned Bitcoin (in the latter case we are already effectively there), that would be ridiculous (though that wouldn't be ridiculous for the population of these countries), but if the US specifically banned Bitcoin that would most certainly have a catastrophic impact on Bitcoin (for the reasons mentioned above)