We Need To Shut Bitcoin And All Other Cryptocurrencies Down. Here's Why.

[Snarks]

Hi everyone! I found this quite overly dramatic article on forbes and was wondering what you think. https://www.forbes.com/sites/jasonbloomberg/2018/03/10/we-need-to-shut-bitcoin-and-all-other-cryptocurrencies-down-heres-why/#4662eb0c1bca

Anyone seen it? What's your thoughts? Fair point or total bullocks?

this is already 12 days old. and it was created at that time to spread FUD and create panic so that price falls more. now it is over.

and i have only 1 thought about this and it is an interesting one:
bitcoin is a decentralized currency, which as you may know it is called as censorship resistance. what i am trying to point out is that bitcoin is not something that anybody can shut down. so saying "we need to shut it down" only shows that the person saying it has no understanding of what bitcoin is.

It doesn't matter what the truth is. They don't need to shut down Bitcoin to stop it from becoming more popular. They are spreading doubt and fear to scare investors out of Bitcoin.

[drm]

Are we supposed to take seriously an article that promotes: 1) absolute control over cryptocurrencies, 2)the centralized bankers coin known as Ripple? the article mentions the issue with illicit cryptomining thanks to undetected softwares, and I agree it's a problem but, they forgot (did they?) to say that there are several ways to stop these softwares from running on your computer.

To me this is nothing more than another article trying to scare people away from Bitcoin and other cryptocurrencies...and I thought these kind of scare tactics from the media was over.

He is just trying to spread fud.

[dsaijz03]

Bitcoin cannot be down by just that kind of article.  A big and well stablished supermarket cannot be stop on giving people there needs by just an article telling bad about the stablishment same with bitcoin bitcoin is a well stablish cryto currency and supported by the big community because it gives profit satisfaction. Bitcoin holders will definitely support bitcoin rather than get panic ang leave.

[zelenkova]

Yes, no one will deal with the closure of bitcoins and crypto currency, if only because they themselves bring this money.

[nara1892]

I read the article and I failed to see it as a strong reason to shut bitcoin down. Just because there are many attackers, it doesn't mean that bitcoin is not save. There is a tech so-called security that is able to save our bitcoin. We just need to follow the steps to keep our bitcoin save.

However there are so many smart hackers, but not all of hackers are bad. Good ones or white hat will work in security side to keep security system is able to protect our bitcoin from hackers. So I just don't think it is a good idea to shut bitcoin down because of bad hackers.

[wave06]

Oh, I've read this before. It's an extremely pointless article. The author basically argues that illicit cryptomining will take over the world, so cryptocurrencies should be made illegal before things get that bad. Well, illicit cryptomining is really just another form of cyber attack, so why focus solely on it? While we're at it, why don't we take things a step further and make the internet illegal so no one gets their data and/or processing power stolen?

But yeah, that's just about how stupid his logic is. You don't burn your house down just to get rid of a few vermin. I don't even think the author is stupid. He probably just really needed to write something controversial about crypto and this is the most original thing he came up with.

I would also like to note that the author forgot a dead simple way to stop most illicit crypto mining attacks: the NoScript browser extension (or ScriptSafe for Chrome), which everyone who wants to be safe on the internet should be using anyway.

Great points! I couldn't agree more! Regulation and control is certainly not the answer to a few bugs which can be solved fairly easily. I'm all for controversial articles but having credible arguments is essential there.

[cryptojohnstone]

I do not believe everything I read on a screen. You have to find out answers for yourself instead of letting other people tell you what to think.

[wave06]

Well, to be honest a few lines in the article got me thinking.
Not about shutting down bitcoin (lol), or that miners might use txs for drugs crime terrorism...that's the usual crap.

But miners nowadays are acting selfishly and instead of a a company like Visa that imposes taxes on the payments we have ended up with miners who are rejecting txs under a certain value and are preferring to mine empty blocks even while the mempool was full.
I was so pissed at some of the pools in December I wished that there would be a way to have your tx included in a block mined by a certain pool, or prevent your tx to be included in a block mined by pool x so I wouldn't contribute to their mining operation.

We need  a system which allows us to send free tx, unlimited transactions and high security with no chances of a 51% attack on the network.... a bit too much to ask unfortunately right now.
And of course ripple which is a bit too much pumped in this article isn't even close to being a solution.

I agree, the current system is certainly not perfect and there is quite some room for improvement. But then again there will always be advantages and disadvantages and I don't think it will ever hit perfection - particularly because that means something different for everyone.

[franky1]

bitcoin already solved the issue around employees using their works network to CPU/GPU mine bitcoin

its called ASICS
just 1 ASIC has the hash power of 13,000 high end PC's, so no one is stupid to risk their job mining bitcoin using insufficient hardware(pc's)

most of the illicit mining is from the altcoiner penny grabbing dim whits, not bitcoin community.

as for permissioned vs permissionless.. well fiat has been a permissioned system for decades, and in 2007 shown even those at the top of the permission list ended up being the most corrupt, thieves of them all

[pleght]

These kinds of articles seem to me a lot of conspiracy theories.Of course, security will be at the top level when depositing investments.Security is important for every investment, not just the crypto money.

[Snarks]

Do you think there's a possibility this author has been hired to write such articles? Or why does he spend so much time attacking Bitcoin and cryptocurrencies?

[Pursuer]

in my opinion things like this article are quite good. the more the attack bitcoin the more resilient it will get. we have had a lot of these idiotic attacks against bitcoin in the past 9 years and you can see that every time people realize a little more that bitcoin is much stronger than they thought.

I know the article is mostly bullshit but I hope that they actually do try to shut down bitcoin some day. maybe some people need proof that a decentralized network can not be shut down by anyone ever! their failure will make bitcoin even stronger.

[Kakmakr]

The guy is obviously an idiot, because he wants to stop Crypto mining with Permissioned Blockchains like Ripple. This is a push for centralization in both Crypto currencies and Crypto mining, which is totally against what this technology was meant for. Crypto currencies was not developed for Permissioned access and centralized control.

The biggest risk of Permissioned Blockchains is centralized authority. <They decide what transactions are mined and reversed and blocked from being mined> Is this what we want?

[leonair]

in my opinion things like this article are quite good. the more the attack bitcoin the more resilient it will get. we have had a lot of these idiotic attacks against bitcoin in the past 9 years and you can see that every time people realize a little more that bitcoin is much stronger than they thought.

I know the article is mostly bullshit but I hope that they actually do try to shut down bitcoin some day. maybe some people need proof that a decentralized network can not be shut down by anyone ever! their failure will make bitcoin even stronger.

Yes it is, Good or Bad publicity, Publicity is Publicity.

Guess what, the article was on www.Forbes.com a well known website and company that the only intention is to get people's attention for the sake of advertisement and just to make a noise that will benefit them, no more, no less. They also don't care if they make things exaggerated most of the time for as long as they made a story out of everything.

[zaytsevsasha654]

Until 2016, the rate slowly recovered to the previous price, and then in 2017 sharply accelerated, setting records almost every month.

[bearexin]

Are we supposed to take seriously an article that promotes: 1) absolute control over cryptocurrencies, 2)the centralized bankers coin known as Ripple? the article mentions the issue with illicit cryptomining thanks to undetected softwares, and I agree it's a problem but, they forgot (did they?) to say that there are several ways to stop these softwares from running on your computer.

To me this is nothing more than another article trying to scare people away from Bitcoin and other cryptocurrencies...and I thought these kind of scare tactics from the media was over.

He is just trying to spread fud.

There is no way that you start agreeing to what all you hear. It is not necessary that all the things which you hear are true. In fact, there are so many things which are nothing but just rumors and that it is not a good thing to agree to those news. Bitcoin and all other crypto coins are doing exceptionally well and that there is no such solid reason to shut down any of the crypto coin.

[Ummirity]

Is this something new and extravagant ? No .
Such allegations , assumptions and all those over the top words have been put up against bitcoin and crypto currencies in the pas too  . Don't you think that all these opinions comes out from some people who have a good influence of government and the government which is always opposing bitcoin ? Well you have my answer now .

Many negative issues and criticism against Bitcoin, but it will never be shutdown because Bitcoin is getting more popular and a lot of people posted testimonies that truly it changed their life. It's one of the leading digital cryptocurrency in the digital industries that provides good investment. Just spread good vibes in Bitcoin.

[Ummirity]

Are we supposed to take seriously an article that promotes: 1) absolute control over cryptocurrencies, 2)the centralized bankers coin known as Ripple? the article mentions the issue with illicit cryptomining thanks to undetected softwares, and I agree it's a problem but, they forgot (did they?) to say that there are several ways to stop these softwares from running on your computer.

To me this is nothing more than another article trying to scare people away from Bitcoin and other cryptocurrencies...and I thought these kind of scare tactics from the media was over.

He is just trying to spread fud.

There is no way that you start agreeing to what all you hear. It is not necessary that all the things which you hear are true. In fact, there are so many things which are nothing but just rumors and that it is not a good thing to agree to those news. Bitcoin and all other crypto coins are doing exceptionally well and that there is no such solid reason to shut down any of the crypto coin.

Negative harsh comments against Bitcoin, they don't realized the importance of Bitcoin in the future on how it will bring benefits in the society. Hopefully people will recognize the corresponding principles in a modern form of transaction via internet in a decentralized currency. It will never be shutdown and it will continue to progress in the future.

[cpoer2011]

Iam wondering why now is there are many organization or some countries that don't want bitcoin and other cryptocurriencies is growth . For my opinion because they got bother with the bitcoin or crypto existience that will change the entirely financial system and they will got no advantange from it like they always got. They spread FUDS to stop the growth of btc or cryptos (also the technology/blockchain). That's what I thought so far. Thanks

[Walang-kekek]

after massive increasing price on bitcoin and all other cryptocurrencies in this past years, there are so many FUD coming up out there. believing this will making market more even worse into big correction. bitcoin grows because the belief in their community. thus, believing FUD will destroy themself.