When the bankers retaliate, will bitcoin be prepared?

[Gordon_Freeman]

I've seen a few threads here and there asking about hypothetical takedown scenarios, *should* the government decide to go after that.

I think we need to be more practical with this topic, because, in my mind, there is no "what if" there is only "when".

Here's what's currently happening (in very broad terms):

The Federal Reserve, through Quantitative Easing is unintentionally destroying the dollar in an effort to prop up the criminal Wall Street mobs.  The Fed has only been able to get away with this for so long due to the petrodollar paradigm that has been forced upon the world.  When this global Ponzi scheme begins to collapse, investors around the world will seek growth outside of the dollar, and I believe bitcoin will be one of those first places.  In fact, I have been reading lately that China has been a strong supporter of bitcoin.  Give it some time, if it begins to have a noticeable effect, there is a good chance that the US government could view this as a direct attack by China (it probably is) on the dollar, and retaliate accordingly.

Now, as the banks have proved before, they will stop at nothing to preserve their power.  My question is: what can they do once they decide to go to war with bitcoin?  Remember, these are the people that have the power to create infinite amounts of money at the click of a button,  they have any means in the world available at their disposal.  The NSA/DHS/FBI/CIA...  I actually think that this is one of the reasons the bitcoin devs have remained anonymous - to protect themselves.

I think all of us bitcoiners need to be prepared for this, so the discussion should start now.

I could see it initially playing out like this: first it becomes illegal, under the pretense of stopping the usual suspects: drug dealers, child pr0nographers, Chinese/Russian gangs.  After that, it's anyone's guess.

Thoughts?

[franky1]

i was going to make a lengthy reply , but then i thought....

this post is about 4 years out dated.

Edit: decided id give a lil insight

the short of it is, even if oil was to stop being valued in dollars and was to be valued in........ bluerasberrycoins.. it means nothing more then a 10 second tweet to their conversion rate.

governments dont care about the currency, all they care about is resources. so if USA go over to Iraq , bomb a few buildings and then mobilise some troops to rebuild a town, a few bridges, etc. that area is then indebted to USA. thus the USA can get cheaper resources to use internally or to sell off to increase its wealth.

it doesnt matter if it is dollars, yen, bitcoin or blueraspberries. each item has a convertible value so as long as the USA ensure other countries remain in-debt to USA, (giving financial/crisis aid) that country will continue to give USA resources at a discount.

as for the bitcoin fear of government...
well the dev team are not in hiding..
Gavin A, Mike Hearn, Garzik to name a few off the top of my head. as for satoshi.. well he had his own tinfoil hat reasons to hide his identity but he is not on the dev team no more.

china adopting bitcoin...
government think thats great.
now the dollar that Ying Yong Ming wants to send to her family in china never leaves the country. instead its paid into an american bank account. some person in america gives her bitcoins. and she sends bitcoins to the family. meanwhile the guy in america that gave her bitcoins is now paying income tax and buying a nice car from an american car showroom, a house from an american real estate agent. while paying all the sales taxes on the items.

bitcoin is like blue raspberries, coffee or world of warcraft credits. as long as its something to get people to pass dollars between themselves while the government take a bite out of each transaction. they are happy.

they dont care what ying Yong ming is doing with the bitcoins, as long as the dollar is circulated and getting sales and income tax deductions with each hand it passes within the USA, they are happy.

imagine it another way
a potato farmer wants beef, if buying beef with fiat. government gets 10% sales tax. and then 10% income tax from the butcher.

now a potato farmer wants beef but the butcher wants bitcoins.
potato farmer buys bitcoins with an exchanger(10%+10% taxes taken from exchanger) the bitcoins given to the butcher (again 10%+10%) from the butcher once the parties convert funds back into FIAT.

now government have 40% of the farmers initial funds instead of just 20%.

circulation is what the government love

[Gordon_Freeman]

Lol I should have figured.  I'm new 

Can you point me to any earlier discussions?