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Author Topic: Study: How IMF could control Bitcoin: kill it or join it? (link to paper)  (Read 2824 times)
Hippie Tech
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All cryptos are FIAT digital currency. Do not use.


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June 12, 2013, 12:31:16 PM
 #21

Are asics a gov't or imf plot to centralize the network's hashpower and earnings ?

If they buy enough of them...

I am not knowledgeable enough and stand to be corrected but these are my thoughts. If asics were a government or IMF plot they would have kept them secret and not allowed general release (certainly not to china). most of the bitcoins in existence are fairly well distributed. a high enough price may concentrate some but not most I think. also just under half are still to be mined. as asic's become more available difficulty will increase and bitcoins will be further distributed. the adoption rate is exponential "apparently" so the cat is out of the bag. I do not believe anyone can stop it now. reg.

Until someone figures out how many asics are actually out and who has them, we can only assume that the public was given fair and equal access. Also, the country of origin is not important because its the people behind the scenes, and their motives, that matter.

I'd like to see where you get your info on Bitcoin distribution.

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June 12, 2013, 12:41:06 PM
 #22

by IMF != about IMF

i dont think that line is exclusive and or  Cheesy

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August 20, 2013, 02:13:48 PM
 #23

I was just thinking...

What if a major player refused to deal in Gold, and ran across an entity with something that they really wanted, but that entity said "give us Gold or no deal!". But the major player also found that where they went so many other entities were dealing in Gold that they we becoming quite stable (even wealthy?) from the market that had been created using Gold. And to their dismay they had been effectively locked out of this market for refusing to deal in Gold... or Beads, or Stones, or Bitcoins...

just thinking...

B. Dr.

that happened when nixon took the usa of the gold standard

en.m.wikipedia.org/wiki/Nixon_Shock
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August 20, 2013, 03:19:46 PM
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It's funny- a lot of people are hesistant to buy into bitcoin because they think it might be subject to regulatory attacks by the government. If the government did start shutting down exchanges on a massive scale and making bitcoin transactions illegal, it would actually artifically inflate the value of bitcoin, in the same way that illegalizing cocaine artificially inflates the price by 500 to 1000%. The value of bitcoin cannot be destroyed, and if it's more difficult to obtain them, it will just make them that much more valuable.
Do you really think a business would want to be involved in bitcoin transactions if bitcoins would become illegal ?
I think not, so an average person will not be using bitcoins, except maybe for some illegal stuff.
So declaring bitcoins illegal will end bitcoins as we know it today.


There is a kind of precedent to this situation namely the outlawing of gold by the FDR administration in the 1930s. This did not affect the price of gold in US$ negatively at all, in fact, it rose somewhat.

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August 20, 2013, 03:30:28 PM
 #25

It's funny- a lot of people are hesistant to buy into bitcoin because they think it might be subject to regulatory attacks by the government. If the government did start shutting down exchanges on a massive scale and making bitcoin transactions illegal, it would actually artifically inflate the value of bitcoin, in the same way that illegalizing cocaine artificially inflates the price by 500 to 1000%. The value of bitcoin cannot be destroyed, and if it's more difficult to obtain them, it will just make them that much more valuable.
Do you really think a business would want to be involved in bitcoin transactions if bitcoins would become illegal ?
I think not, so an average person will not be using bitcoins, except maybe for some illegal stuff.
So declaring bitcoins illegal will end bitcoins as we know it today.


     This is true, if you are thinking in the old way where nations mattered. Illegalizing bitcoin transactions would only be possible under a one world government. Bitcoins could be made illegal, but then you could probably sell all of your bitcoin on an exchange somewhere like Vanuatu, Tajikistan, or Cape Verde for the next crypto currency. Since it seems to take a few days to generate cryptocurrencies there could be an endless string of them. As has often been observed on this forum, the only way to kill bitcoin is to kill the internet.

A good metaphor would be riot police with shields and clubs standing next to the ocean and trying to stop a tsunami.

  The only way for the powers that be to retain control will be a one world government with immediate arrest for any evidence of an off book transaction. This is not implausible. This is WAY bigger than the Protestant reformation, and that resulted in hundreds of years of war...

semaforo, you are a very inspirational speaker typer
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