Bitcoin Forum
December 05, 2016, 12:47:25 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2] 3 »  All
  Print  
Author Topic: z  (Read 4112 times)
tvbcof
Legendary
*
Online Online

Activity: 1974


View Profile
July 29, 2011, 06:44:46 PM
 #21


...

The main problem for us is the fact that the central banking debt based currency is printed out of thin air. All Rothschilds has to do, is print 10 Billion, buy all the bitcoins in existence and they will own 1/3 right off the bat. Then wait 5 years, and buy another 1/3.

"Give me Control over a nation's currency, and I care not who programs the algorithm."


Having a monopoly in just about anything certainly imparts a fair level of control.

I think the modern Rothchild would care more about 'who programs the algorithm' if a re-program of the algorithm (and sufficient adoption of it) could render their hoard valueless.

Back in the day, pitchforks were the answer when the pressure became to intense.  Normally it was fairly easy to mitigate the damages if you kept a low profile and planned sufficiently for an exit event.  The mobs tended to have a more immediate interest in food than in chunks of metal anyway I would suspect.

If the use of pitchforks could somehow shift to a method of paying attention to the options in terms of programmers and re-installing some software, I could see it as a good thing.  And a good reason why something like Bitcoin is unlikely to be very popular with any but the most benevolent of leaderships.


1480898845
Hero Member
*
Offline Offline

Posts: 1480898845

View Profile Personal Message (Offline)

Ignore
1480898845
Reply with quote  #2

1480898845
Report to moderator
1480898845
Hero Member
*
Offline Offline

Posts: 1480898845

View Profile Personal Message (Offline)

Ignore
1480898845
Reply with quote  #2

1480898845
Report to moderator
1480898845
Hero Member
*
Offline Offline

Posts: 1480898845

View Profile Personal Message (Offline)

Ignore
1480898845
Reply with quote  #2

1480898845
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480898845
Hero Member
*
Offline Offline

Posts: 1480898845

View Profile Personal Message (Offline)

Ignore
1480898845
Reply with quote  #2

1480898845
Report to moderator
1480898845
Hero Member
*
Offline Offline

Posts: 1480898845

View Profile Personal Message (Offline)

Ignore
1480898845
Reply with quote  #2

1480898845
Report to moderator
1480898845
Hero Member
*
Offline Offline

Posts: 1480898845

View Profile Personal Message (Offline)

Ignore
1480898845
Reply with quote  #2

1480898845
Report to moderator
the founder
Sr. Member
****
Offline Offline

Activity: 448


Bitcoin


View Profile WWW
July 29, 2011, 06:51:23 PM
 #22

I could destroy bitcoins in 20 seconds flat if I was the US government.  Doing nothing illegal... and I could wipe out the currency in literally 6 weeks with about 3 - 5  million bucks..  

3 backroom deals with mt. gox,  tradehill and dwolla ...  1-2 million each for 51% ownership of each....    and any startup that get's a decent volume.. make a similar deal...  that would stop trading pretty quick... the owners would like the payout (which is huge to them, tiny to a country that takes in a few trillion a year in revenue)  so they have no incentive to hide their shit...  and the US government effectively would be in full control of bitcoins.. all without even passing a law.


Bitcoin RSS App / Bitcoin Android App / Bitcoin Webapp http://www.ounce.me  Say thank you here:  1HByHZQ44LUCxxpnqtXDuJVmrSdrGK6Q2f
bitrebel
Sr. Member
****
Offline Offline

Activity: 364


View Profile
July 29, 2011, 07:02:59 PM
 #23

I could destroy bitcoins in 20 seconds flat if I was the US government.  Doing nothing illegal... and I could wipe out the currency in literally 6 weeks with about 3 - 5  million bucks..  

3 backroom deals with mt. gox,  tradehill and dwolla ...  1-2 million each for 51% ownership of each....    and any startup that get's a decent volume.. make a similar deal...  that would stop trading pretty quick... the owners would like the payout (which is huge to them, tiny to a country that takes in a few trillion a year in revenue)  so they have no incentive to hide their shit...  and the US government effectively would be in full control of bitcoins.. all without even passing a law.



Buyouts.....the medium of last resort for Aristocrats

Why does Bitrebel have 65+ Ignores?
Because Bitrebel says things that some people do not want YOU to hear.
fitty
Full Member
***
Offline Offline

Activity: 238


View Profile
July 29, 2011, 07:06:32 PM
 #24

I could destroy bitcoins in 20 seconds flat if I was the US government.  Doing nothing illegal... and I could wipe out the currency in literally 6 weeks with about 3 - 5  million bucks..  

3 backroom deals with mt. gox,  tradehill and dwolla ...  1-2 million each for 51% ownership of each....    and any startup that get's a decent volume.. make a similar deal...  that would stop trading pretty quick... the owners would like the payout (which is huge to them, tiny to a country that takes in a few trillion a year in revenue)  so they have no incentive to hide their shit...  and the US government effectively would be in full control of bitcoins.. all without even passing a law.



You're joking right?

Bitcoin doesn't need the TradeHill, Gox, Dwolla. They could all fuck off right now and within a month things would be back to normal. You're assuming those 3 sites ARE Bitcoin. They're not.

Bitcoin is a currency, and it's about those people using it as a currency. It's like saying getting rid of ISOhunt, Pirbatebay and Torrentz would put a stop to pirating. *lol*

TradeHill only exists on the level it does now because Gox was hacked and down for 2 weeks. So what happens if all 3 of those places disappear? More pop up. Those get "bought out", more pop up. People will just make exchanges (someone will open source it) just to get bought up!

Compare it to pirating. Why doesn't the govt just buy all the torrent sites? Could probably get the top 500 torrent sites for maybe 100 million. Problem solved right? Pirating is costing billions if you listen to the music industry. Why don't they just buy up all the torrent sites! Genius!
Piper67
Legendary
*
Offline Offline

Activity: 1008



View Profile
July 29, 2011, 07:24:21 PM
 #25

I could destroy bitcoins in 20 seconds flat if I was the US government.  Doing nothing illegal... and I could wipe out the currency in literally 6 weeks with about 3 - 5  million bucks..  

3 backroom deals with mt. gox,  tradehill and dwolla ...  1-2 million each for 51% ownership of each....    and any startup that get's a decent volume.. make a similar deal...  that would stop trading pretty quick... the owners would like the payout (which is huge to them, tiny to a country that takes in a few trillion a year in revenue)  so they have no incentive to hide their shit...  and the US government effectively would be in full control of bitcoins.. all without even passing a law.



You're joking right?

Bitcoin doesn't need the TradeHill, Gox, Dwolla. They could all fuck off right now and within a month things would be back to normal. You're assuming those 3 sites ARE Bitcoin. They're not.

Bitcoin is a currency, and it's about those people using it as a currency. It's like saying getting rid of ISOhunt, Pirbatebay and Torrentz would put a stop to pirating. *lol*

TradeHill only exists on the level it does now because Gox was hacked and down for 2 weeks. So what happens if all 3 of those places disappear? More pop up. Those get "bought out", more pop up. People will just make exchanges (someone will open source it) just to get bought up!

Compare it to pirating. Why doesn't the govt just buy all the torrent sites? Could probably get the top 500 torrent sites for maybe 100 million. Problem solved right? Pirating is costing billions if you listen to the music industry. Why don't they just buy up all the torrent sites! Genius!

Agreed... Bitcoin is the elegant idea... MtGox, Tradehill, Dwolla and, for that matter, US dollars, Canadian dollars, Euros and GBPs are but a means to an end.
phelix
Legendary
*
Offline Offline

Activity: 1680


nmc:id/phelix


View Profile
August 01, 2011, 10:08:58 AM
 #26

it is hard to destroy bitcoin but easy for a government to suppress it.

if it is prohibited to sell for bitcoins they have little use for most people.

blockchained.com ■ bitcointalk top posts
BCEmporium
Legendary
*
Offline Offline

Activity: 938



View Profile
August 01, 2011, 11:13:02 AM
 #27

Sorry OP, that "sabotage plan" would only work if you assume something like all (or at least 50%) of the bitcoin users are completely retards.
Gvmts can however shake bitcoin, ie by creating a price bubble and let it blast, do it 3 or 4 times in a row and the community starts to disintegrate due to lack of trust and general high losses (high gains to some but overall a HYIP). Or they can forbid its use... but the experiences about "dry laws" aren't that good, are they?
kwukduck
Legendary
*
Offline Offline

Activity: 1564


View Profile
August 01, 2011, 01:43:05 PM
 #28

Most effective i think, would be to just make bitcoin exchange illegal.
Arrest a few people, give them a few years jail-time.
Everybody gets scared, value drops, more people cash out, only a hand full of die-hard hackers/anons keep using it at 0.05USD/BTC

14b8PdeWLqK3yi3PrNHMmCvSmvDEKEBh3E
the founder
Sr. Member
****
Offline Offline

Activity: 448


Bitcoin


View Profile WWW
August 01, 2011, 02:15:53 PM
 #29

how about 1/2 a dozen datacenters dedicated to mining rigs setup by the NSA...  after it get's to the point where they have a decent majority of of the mining then they start messing around with double spending, etc etc... 

Bitcoin RSS App / Bitcoin Android App / Bitcoin Webapp http://www.ounce.me  Say thank you here:  1HByHZQ44LUCxxpnqtXDuJVmrSdrGK6Q2f
xcooling
Full Member
***
Offline Offline

Activity: 145


View Profile
August 01, 2011, 02:27:13 PM
 #30

Most likly scenario will be that Hackers and scammers will destroy bitcoin, Because there is no way to make sure all the numerous endpoints have correct security mechanisms in place and that they will stay honest over a long period... there lies the very weekness.

Example would be mybitcoin, which for a novice user is like paypal for bitcoin. We need the novice users (investors) to make the currency work. Everytime they get scammed or hacked you loose investor confidence. I lost a large portion of bitcoin.. do i care no.. but most will.

For a government to destroy bitcoin or any large company, they could buy up all the bitcoin and wipeout the martket. us$~100million is not that much for them to loose. Or a corporate entity could lobby governments and have bitcoin declared as illegal.. thus freezing all the bank accounts that are suspected of trading or handling bitcoin.

If u are unable to freely buy and sell bitcoin with physical currency, bitcoin will die.

Oh and one final point to ponder.. how long until someone figures out how to counterfeit a bitcoin...

Piper67
Legendary
*
Offline Offline

Activity: 1008



View Profile
August 01, 2011, 02:42:58 PM
 #31

Most effective i think, would be to just make bitcoin exchange illegal.
Arrest a few people, give them a few years jail-time.
Everybody gets scared, value drops, more people cash out, only a hand full of die-hard hackers/anons keep using it at 0.05USD/BTC

Yup, just like music downloads, porn, the war on drugs... That'll work  Grin
BCEmporium
Legendary
*
Offline Offline

Activity: 938



View Profile
August 01, 2011, 03:05:15 PM
 #32

Most effective i think, would be to just make bitcoin exchange illegal.
Arrest a few people, give them a few years jail-time.
Everybody gets scared, value drops, more people cash out, only a hand full of die-hard hackers/anons keep using it at 0.05USD/BTC

Yup, just like music downloads, porn, the war on drugs... That'll work  Grin

...and because "the World is USA", so "Uncle Sam" would make it illegal and that's it...  Roll Eyes
US already has no money to cover its own debt and it's a few hours away from being downgraded to bellow junk (along with consequential USD plummeting), let alone set up another global campaign, like the so called "war on drugs", financing.
Rassah
Legendary
*
Offline Offline

Activity: 1624


Director of Bitcoin100


View Profile
August 01, 2011, 03:18:58 PM
 #33

For a government to destroy bitcoin or any large company, they could buy up all the bitcoin and wipeout the martket. us$~100million is not that much for them to loose.

Every time someone buys a Bitcoin, the next Bitcoin costs them more. If a government tried to buy all the Bitcoins, the first Bitcoin may cost them $13.50, but very last Bitcoin they buy will likely cost them over $100million.

Piper67
Legendary
*
Offline Offline

Activity: 1008



View Profile
August 01, 2011, 03:23:31 PM
 #34

For a government to destroy bitcoin or any large company, they could buy up all the bitcoin and wipeout the martket. us$~100million is not that much for them to loose.

Every time someone buys a Bitcoin, the next Bitcoin costs them more. If a government tried to buy all the Bitcoins, the first Bitcoin may cost them $13.50, but very last Bitcoin they buy will likely cost them over $100million.

They wouldn't need to buy them all, probably more like a million or so. Yes, it would drive the price up, but it would still be a bargain by US government spending standards.
xcooling
Full Member
***
Offline Offline

Activity: 145


View Profile
August 01, 2011, 03:24:20 PM
 #35

USA wont be downgraded.. look at the companies that do the ratings, they all got handouts in 2008/9.

The "debt crisis" was just a bunch of politics to make the average joe feel like their government is doing something to curb debt spending.

JoelKatz
Legendary
*
Offline Offline

Activity: 1386


Democracy is vulnerable to a 51% attack.


View Profile WWW
August 06, 2011, 01:20:01 PM
 #36

They wouldn't need to buy them all, probably more like a million or so. Yes, it would drive the price up, but it would still be a bargain by US government spending standards.
So you're suggesting that they could kill bitcoin by making everyone involved in it rich?

I am an employee of Ripple.
1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
BCEmporium
Legendary
*
Offline Offline

Activity: 938



View Profile
August 06, 2011, 01:43:02 PM
 #37

USA wont be downgraded.. look at the companies that do the ratings, they all got handouts in 2008/9.
hrm.

He was just believing that US could keep raising its debt to the infinite by increasing debt ceiling, way beyond any possible payment, without any penalty...
Bazil
Full Member
***
Offline Offline

Activity: 126


View Profile
August 06, 2011, 02:50:09 PM
 #38

If the government wanted to destroy bitcoin what they could do is do business with bitcoins and every bitcoin they got, just send to one wallet file and either destroy it or never use it.  This would cause deflation till there were very few bitcoins left.  With the current amount of bitcoins they could go on an exchange and buy them all up pretty easy.

17Bo9a6YpXN2SbwY8mXLCD43Wup9ZE4rwm
phelix
Legendary
*
Offline Offline

Activity: 1680


nmc:id/phelix


View Profile
August 09, 2011, 06:56:32 PM
 #39

If the government wanted to destroy bitcoin what they could do is do business with bitcoins and every bitcoin they got, just send to one wallet file and either destroy it or never use it.  This would cause deflation till there were very few bitcoins left.  With the current amount of bitcoins they could go on an exchange and buy them all up pretty easy.

that is impossible because the price would rise like crazy.

blockchained.com ■ bitcointalk top posts
the founder
Sr. Member
****
Offline Offline

Activity: 448


Bitcoin


View Profile WWW
August 17, 2011, 02:37:33 PM
 #40

perhaps the scariest,  have the IRS start auditing dowalla and filter from there for people that transferred to mtgox, tradehill, etc.   that would shut it down or at least partially shut it down for a long time.




Bitcoin RSS App / Bitcoin Android App / Bitcoin Webapp http://www.ounce.me  Say thank you here:  1HByHZQ44LUCxxpnqtXDuJVmrSdrGK6Q2f
Pages: « 1 [2] 3 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!