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Author Topic: Big Governments have the power to IMPAIR Bitcoin but not KILL it ?  (Read 238 times)
crypt0xmancer
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September 04, 2017, 01:42:51 PM
 #1

Hello fellow BitcoinTalk members

Im crypt0xmancer , newbie here!

I stumbled across an interesting article today which can be found here: https://www.forbes.com/sites/panosmourdoukoutas/2017/08/23/big-governments-will-crush-bitcoin-but-wont-kill-it/#1e1cc5d77439

This article talks about how key governments may one day choose to injure Bitcoin and limit it to a collectible tech currency for tech savy enthusiasts since it is deemed to be a potential threat to it's sovereignty and monopoly on money printing. Given also the fact that Bitcoin has the potential to break the Government's shady economical manipulation habits and private interests since it is decentralized and it's power comes directly from the people.

The Blockchain's technology has huge potential for governments, industries and societies as a whole to rely on, let us hope that Bitcoin and other cryptocurrencies strive to become the norm in our daily lives, and a powerful asset that governments can use and CO-EXIST with.http://

Embrace the Future....simply Adapt or Die

Would love to hear your thoughts!

http://i.imgur.com/K2Q84fD.jpg
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September 04, 2017, 01:52:54 PM
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Governments can't control a system of stored value, all they can try to make it difficult to access the value in a day to day sense.

Chris
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September 04, 2017, 01:54:07 PM
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I'm not sure what they can do to kill Bitcoin.  I've mentioned this in other threads but really they can really only do two things:
  • Ban the use of Bitcoin; fining or imprison those who use it
  • Ban banks working with any Bitcoin exchange

I'm more worried about the second one; because banks would be more than happy to go along with the regulations.  This would dramatically slow down the speed of fiat flowing into crypto thus slowing down demand.  We're probably entering an inflection point in crypto where governments around the world will be deciding crypto's role in their economy.  My belief is that the country that works with it will be the economy of the future.

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crypt0xmancer
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September 04, 2017, 01:55:26 PM
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MODS is there a way to move this topic into Politics? Im sorry I wrote that post in the wrong section :O  Shocked
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September 04, 2017, 01:58:17 PM
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i think it depands on how powerful the governments are, if all goverments like China, then the life and death of bitcoin depends on one thought, its just so simple, like taday's fall

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crypt0xmancer
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September 04, 2017, 02:09:29 PM
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i think it depands on how powerful the governments are, if all goverments like China, then the life and death of bitcoin depends on one thought, its just so simple, like taday's fall

We're talking about the big guys USA, Russia... China is a perfect example of how governments have so much power on Cryptos, one announcement that limits ICO's and Bitcoin and all other altcoins drop like crazy
crypt0xmancer
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September 04, 2017, 02:17:31 PM
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I'm not sure what they can do to kill Bitcoin.  I've mentioned this in other threads but really they can really only do two things:
  • Ban the use of Bitcoin; fining or imprison those who use it
  • Ban banks working with any Bitcoin exchange

I'm more worried about the second one; because banks would be more than happy to go along with the regulations.  This would dramatically slow down the speed of fiat flowing into crypto thus slowing down demand.  We're probably entering an inflection point in crypto where governments around the world will be deciding crypto's role in their economy.  My belief is that the country that works with it will be the economy of the future.

Excellent points Sylance, the second point is a more realistic approach that can injure demand, we're still in transition you're right lets hope for the best brother !
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