How to Destroy Bitcoin

[Steveia]

If you notice the news' reports the last few weeks, there is a growing war against Bitcoin.

Central bankers cannot tolerate a decentralized system that actually frees humanity from their criminal enterprise.

I do not think governments are going to ban Bitcoin absent an incident, only because it is a black eye to any government to stifle technology.

What I suspect could happen is that another False Flag terrorist event involving the transfer or use of Bitcoin could cause the US or the EU to severely restrict and/or regulate Bitcoin to the point where its use is eliminated.

If a false flag is not used in the immediate future (year or two), then governments may pass super strict regulations to protect the international bank cartel and the institution known as governments.

We all know that governments cannot stand a system independent of the system.

[1713297166]

1713297166

[dontek]

Interesting point. I could see that.

DHS releases a memorandum stating that some bomber or shooter was funded by Bitcoin.

I still believe that within 5 years in the US we will see permanent Interstate checkpoints manned by DHS agents. They will claim that "terrorists" are using the interstate system to traffic weapons and money and they must set those up in order to "protect the citizens".

If your prediction comes true, I will come back and tip you 5BTC.

[tutkarz]

even if they ban it in EU and USA I think it still will be growing in other countries and when current financial system will collapse bitcoin will have big return.

[ajax3592]

What I suspect could happen is that another False Flag terrorist event involving the transfer or use of Bitcoin could cause the US or the EU to severely restrict and/or regulate Bitcoin to the point where its use is eliminated.

United States and Europe don't comprise of whole world. Even if they banned bitcoin in their respective countries there are biggies like Russia, China, Germany, Japan and so on.

[koob]

Germany

You know that Germany is in EU right?

[zimmah]

no matter how goverment tries to hide it, it'd be an obvious attack.

also consider this:

the bankers have had a lot of influence because of their ability to make money from nothing, (and anyone who would try to compete with them would be charged with counterfeiting), bitcoin takes this power away from them, since they no longer have the exclusive right to print money.

The government may actually see bitcoin as an exit from the chains that hold them (debt to bankers).

[georgegreek]

THEY CANNOT STOP CRYPTOCURRENCIES, UNLESS THEY STOP INTERNET ITSELF !!!

[FalconCrypto]

no matter how goverment tries to hide it, it'd be an obvious attack.

also consider this:

the bankers have had a lot of influence because of their ability to make money from nothing, (and anyone who would try to compete with them would be charged with counterfeiting), bitcoin takes this power away from them, since they no longer have the exclusive right to print money.

The government may actually see bitcoin as an exit from the chains that hold them (debt to bankers).

Interesting

[Steveia]

I think you guys, for the most part, are missing the point.

Bitcoin is touted in the international press for its quasi-anonymity. Imagine, if you will, a large scale false flag attack involving Bitcoin. Do you really think if this happens in the US, and Bitcoin is vilified as the principal source of funding for the terrorist attack, that other governments like Russia or China will allow bitcoin to grow unregulated? They will ban it (even if they know it was a false flag).

We live in a global world. What happens (typically) in the US, spreads elsewhere.

I cannot imagine China or Russia believe the official 9/11 story; but both use that event to clamp down on their own citizens and the restrictions of liberty and privacy.

Bitcoin will survive but in the shadows, much like all black economies. But it will never amount to what it could if left alone--an international system used openly around the world.

Why do you think China banned the use of Bitcoins by financial institutions and merchants buying and selling in Bitcoin? Because governments fear what they cannot regulate. Now imagine a large false flag involving Bitcoin.

Governments always need a pretext to act.

They never let a crisis go to waste...

[Steveia]

Interesting point. I could see that.

DHS releases a memorandum stating that some bomber or shooter was funded by Bitcoin.

I still believe that within 5 years in the US we will see permanent Interstate checkpoints manned by DHS agents. They will claim that "terrorists" are using the interstate system to traffic weapons and money and they must set those up in order to "protect the citizens".

If your prediction comes true, I will come back and tip you 5BTC.

Thank you my good man (or woman).

[DoubleMyCoins!]

What I suspect could happen is that another False Flag terrorist event involving the transfer or use of Bitcoin could cause the US or the EU to severely restrict and/or regulate Bitcoin to the point where its use is eliminated.

Nah, too many people around the world question 9/11. Any other false flag would have to be pretty big, but I think would be too risky to try.

[georgegreek]

Friends, the idea is of the most BRILLIANT of all times...

Cryptocurrencies gave us (through the technology given by bitcoin application of cryptography) the ability to share and exchange value through means not depending on government or bank controlled guaranties.
If majority (or even noticable minority) believes in it and gives value to it, THEY CAN DO NOTHING TO CONTROL IT, REGULATE IT, or whatever... ! (Imagine a situation of no need to exchange it with fiat currency...)

It takes a MAJOR WEAPON out of their hands...

Undoubtable value with NO FORCED GUARANTEES... !!!

FINALLY, AFTER ALL THESE CENTURIES, UNDOUBTABLE VALUE !!!

I take the risk to say that this is gonna CHANGE THE WORLD !!

[Bankrunner]

Keiser's latest video say JP Morgue is renewing a patent that basically describes bitcoin.
https://www.youtube.com/watch?v=q4TVXs1rvEI
Will there be patent infringement lawsuits against anyone caught using BTC or downloading the blockchain?
It's NOT Stopping me,
Happy BankRunning

[quone17]

There is the JPMorgan Chase cryptocurrency and then there is a Russian bank which just said it might be releasing a cryptocurrency.  Maybe they intend toput some competitors out there that are "better" than BTC, or at least don't have the "drug stigma" and then they'll control the cryptocurrency world too.  That's their plan, steal BTC's idea and push it on the masses.

[vpitcher07]

And they're going to argue that the USD isn't used for terrorism/drug trafficking/ other awful crimes? That's a load of shit and you know it. BTC doesn't come close to the amount of crime the USD is used for, even if a "terrorist action" occurs.

[marcus_of_augustus]

... hadn't considered it before but maybe assassination markets have a use after all ... what's the price on head of Kim Jong Il right now btw?

[Probably]

we've not seen govs really intervene.

it makes sense btc will be tied in a high profile way to 'terrorism' ... false flag or not, it could be used that way.


they tried to link bittorrent "piracy funds terror" in the same way ... unfortunately that was a few steps removed ... this can have immediate 'hey look at what these people did only because bitcoin let them.' aka silkroad + violence

http://arstechnica.com/tech-policy/2008/03/us-attorney-general-piracy-funds-terror/

 

[Carlton Banks]

And they're going to argue that the USD isn't used for terrorism/drug trafficking/ other awful crimes? That's a load of shit and you know it. BTC doesn't come close to the amount of crime the USD is used for, even if a "terrorist action" occurs.

It's really difficult to come up with an even faintly logical scenario for a faked attack.

"We found the guy that did it, matched the transaction from the blockchain to the addresses in his wallet". So, bitcoin helped catch him?

"We couldn't even find who did it, it's all so anonymous!" So, how do you know it was facilitated with bitcoin?


The one thing that does stick out to me is: crash the markets and blame bitcoin. But you can't do that without waiting till bitcoin becomes popular enough to believably do that... and then most people don't care (bitcoin user not affected  ) and there's a little too much danger that the rest of the herd will join us instead of blaming us.

It's really hard to come up with something plausible that will actually work.

[marcus_of_augustus]

we've not seen govs really intervene.

it makes sense btc will be tied in a high profile way to 'terrorism' ... false flag or not, it could be used that way.


they tried to link bittorrent "piracy funds terror" in the same way ... unfortunately that was a few steps removed ... this can have immediate 'hey look at what these people did only because bitcoin let them.' aka silkroad + violence

http://arstechnica.com/tech-policy/2008/03/us-attorney-general-piracy-funds-terror/

there is a flaw in this reasoning because of bitcoin's pseudoanonymity.

To link a false flag operation to a bitcoin transfer you would need proof of other identifying information of the person(s) involved in which case they could not be hidden actors ... i.e. wouldn't be false flag by unknown operatives (unless they managed to coerce/connive some patsies into using bitcoin for terror and then have a watertight way to pin it exclusively upon the patsies)

[Carlton Banks]

I've said this since the start: the people trying to come up with public policy to neuter bitcoin must be tearing their hair out. Or they're figuring to just roll with the punch, because it's either that or Noah's Ark part II.

That's why they've spent so long trying to ignore it or faintly disparage it (without putting too much effort in so that it can be perceived as something credible).

I think they have no plan, and are trying to buy time to come up with one. It's the only meaningful way to interpret what we're seeing in the media and from public figures.