The biggest battle for Bitcoin's life is coming

[MadeinCoin]

Thank you for reminding us about the coming of the biggest battle so we can prepare for that. At least we have the idea of how much stretching we will do. Basically, we are used to some changes that come our way in Cryptocurrency, we have gone thru many battles since we started this journey and I have to say that we have learned much how we can handle it. But having this news about the biggest battle is such good news for us, there is always a rainbow after the rain so after this "great battle", I think we will going to see the brightest moment once again.

well, therefore we are still holding here to see the rainbow. I don't think that the battle will last long, because I'm sure this will end soon and each person who still holds it will get a profit, and those who give up get regrets. And I will always remember the longest battle last year, where the crypto market bled and now we have seen the rainbow after the battle ended.

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[bryant.coleman]

I hope everyone is ready for it, because it's going to be the biggest test in your HODLING abilities, and resolve.

What would transpire is the biggest socio-political/socio-psychological attack that the community would ever see, and it would involve state-level actors/governments.

Prepare yourselves. It's coming.

I do expect some action from the authorities, in case the (crypto) market cap crosses the $1 trillion level. Whether you guys like it or not, Bitcoin has become a major rival for the fiat currencies. In countries where the national currency is heavily manipulated (China and Iran for example), there is enough evidence available to conclude that at least some of the citizens are using Bitcoin as a store of value. Now this goes against the government plans to have a complete monopoly on the savings of its citizens. Even in cases where the national currency is not manipulated, Bitcoin is attractive due to its immunity from inflation.

It will be foolish to believe that the government will just sit back and watch the show, when the national currencies take the hit. The tax revenues are going to get affected and the entire apparatus will feel the impact. So at some point, they will be forced to initiate action against the cryptocurrencies.

[garyn]

I hope everyone is ready for it, because it's going to be the biggest test in your HODLING abilities, and resolve.

What would transpire is the biggest socio-political/socio-psychological attack that the community would ever see, and it would involve state-level actors/governments.

Prepare yourselves. It's coming.

Executive Order 6102 is a United States presidential executive order signed on April 5, 1933, by President Franklin D. Roosevelt "forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States". The order was made under the authority of the Trading with the Enemy Act of 1917, as amended by the Emergency Banking Act the previous month.

Do you think people turned in their gold.  No they hid it.  Finally the limitation on gold ownership in the U.S. was repealed after President Gerald Ford signed a bill legalizing private ownership of gold coins, bars and certificates by an act of Congress which went into effect December 31, 1974.

Governments cannot find your cryptocurrency especially if you have it on a hard wallet.  So they only thing this will do is for governments to say it is illegal.  See how many people own Bitcoin in China and Indonesia where it is illegal.

It will only help the price go up.

[prehisto]

Dont be over dramatic, none will battle
Governments will chose to regulate or ban Bitcoin and altcoins with along it.
Regulation will be harsh or wage, probably it will be unpleasant for  most ocrypto users, but it is the next chapter of bitcoins  " book" we want it or not.

[ghost424]

I hope everyone is ready for it, because it's going to be the biggest test in your HODLING abilities, and resolve.

What would transpire is the biggest socio-political/socio-psychological attack that the community would ever see, and it would involve state-level actors/governments.

Prepare yourselves. It's coming.

This is actually very helpful to those who are new especially those who are still in the process of learning. Learning how to handle pressure that tackles the Industry will be hard because it will attack us mentally. We have to stay disciplined and trust that HODLing our Crypto's will still be profitable. There are already a lot of threats lurking around the industry but it stays the same way because some users does not want to damage the industry and we should stay vigilant to secure the industry.

[1Referee]

It will be foolish to believe that the government will just sit back and watch the show, when the national currencies take the hit. The tax revenues are going to get affected and the entire apparatus will feel the impact. So at some point, they will be forced to initiate action against the cryptocurrencies.

Can you explain me how the tax revenues as you call it will be affected? I for example can choose to not trade and not profit, which means no tax going towards the government, or I trade and profit but not pay any tax. So how exactly will the tax revenues be affected? The government can't lose or be impacted by something it never had in the first place.

I personally do pay tax over the profits I make because it's done through centralized exchanges, but this is pure profit to them. It's money they have now that they didn't have before, and didn't count on to generate. Governments have to work on being competitive and fair so that crypto businesses will choose their country to settle in. It's a new (additional) source of income for them.

[Renampun]

I hope everyone is ready for it, because it's going to be the biggest test in your HODLING abilities, and resolve.

What would transpire is the biggest socio-political/socio-psychological attack that the community would ever see, and it would involve state-level actors/governments.

Prepare yourselves. It's coming.

I think this attack has long come... remember when the Chinese and russia government say to banned all ICO project, or the latest news where FED and Donald Trump attacked Libra and caused the cryptocurrency market to fall.  

we must be prepared to receive attacks from law and regulation makers, do not immediately panic when there are issues  

[Lauren Smith]

Dont be over dramatic, none will battle
Governments will chose to regulate or ban Bitcoin and altcoins with along it.
Regulation will be harsh or wage, probably it will be unpleasant for  most ocrypto users, but it is the next chapter of bitcoins  " book" we want it or not.

Government can't regulate crypto that is the beauty of it. Besides, I think they have better things to do.

It will be foolish to believe that the government will just sit back and watch the show, when the national currencies take the hit. The tax revenues are going to get affected and the entire apparatus will feel the impact. So at some point, they will be forced to initiate action against the cryptocurrencies.

Can you explain me how the tax revenues as you call it will be affected? I for example can choose to not trade and not profit, which means no tax going towards the government, or I trade and profit but not pay any tax. So how exactly will the tax revenues be affected? The government can't lose or be impacted by something it never had in the first place.

I personally do pay tax over the profits I make because it's done through centralized exchanges, but this is pure profit to them. It's money they have now that they didn't have before, and didn't count on to generate. Governments have to work on being competitive and fair so that crypto businesses will choose their country to settle in. It's a new (additional) source of income for them.

Lol I know right? This person has no idea what they are talking about. The goverment is forced to "sit back and watch the show" their currency failed us so we created our own. Crypto has nothing to do with the goverment. We are free to trade in wahtever we want. YOu may trader services even and people have done it for a long time. For examlpe let us say you an IT expert and I have a huge problem with my network and you fix it for me but instead of charging me currency I will repair your car. It would be exactly the same with using a currency but we just skip that part entirely. This is not taxable. This is very similair to crypto but you trading in something that has a value on its own and not a service.

[Betwrong]

~
What I got from watching the recent hearings is an awareness that too much heaviness could drive crypto away into the arms of a more willing country. If America is conscious of losing their dollar hegemony they're also conscious that remaining a world capital of crypto is more of a benefit than the alternative.

I agree with this. Times of prohibition are gone, and, also, I'm sure that nothing like the Gold Reserve Act of 1934 will happen again. Democracy has evolved significantly since 1930s, and we should not be afraid of repetition of some atrocious acts that happened in the past, same as people in 1930s could be sure of not seeing burning witches at stakes in the center of the town. The positive changes have happened not because those who are in power are good people, but rather because people oppressed by them can cooperate better due to radio, then TV and now the Internet. Performing anti-democratic acts is now much more dangerous then it used to be. So, since banning Bitcoin is not an option, the only thing left is embracing it, which America will do if they want to remain the biggest power in the world.

[coin-investor]

I hope everyone is ready for it, because it's going to be the biggest test in your HODLING abilities, and resolve.

What would transpire is the biggest socio-political/socio-psychological attack that the community would ever see, and it would involve state-level actors/governments.

Prepare yourselves. It's coming.

Ten years is a long way if Bitcoin will be destroyed it should have been in the third or fourth year, not now that everybody is looking at it and wants to be part of the community, I don't know what will come that will get us caught by surprised, Bitcoin and the community has experienced everything, do you have a hint of what it is?

[BitHodler]

So, since banning Bitcoin is not an option, the only thing left is embracing it, which America will do if they want to remain the biggest power in the world.

They already have control over the biggest financial market in the world. They might lose out on innovation to a smaller degree, but that's about it. The consequences of not embracing Bitcoin for them are negligible.

People here act like countries have to embrace it in order to grow exponentially and potentially become a super power in the world, but that's just because they are biased to think so because they are heavily invested in it.

The US has grown exponentially before Bitcoin existed and will continue to do so, with or without embracing it. Crypto as a whole is one big hype. It's useless for the most part. What in the last 10 years came out of it?

[bryant.coleman]

It will be foolish to believe that the government will just sit back and watch the show, when the national currencies take the hit. The tax revenues are going to get affected and the entire apparatus will feel the impact. So at some point, they will be forced to initiate action against the cryptocurrencies.

Can you explain me how the tax revenues as you call it will be affected? I for example can choose to not trade and not profit, which means no tax going towards the government, or I trade and profit but not pay any tax. So how exactly will the tax revenues be affected? The government can't lose or be impacted by something it never had in the first place.

I personally do pay tax over the profits I make because it's done through centralized exchanges, but this is pure profit to them. It's money they have now that they didn't have before, and didn't count on to generate. Governments have to work on being competitive and fair so that crypto businesses will choose their country to settle in. It's a new (additional) source of income for them.

If you invest in some asset such as mutual funds, then first you need to pay the capital gains tax (which is same in the case of Bitcoin as well). But on top of that, the money you are investing goes to prop up corporations, which pay taxes such as the corporate tax and the labor tax to the government. In case of Bitcoin, this is not applicable. The creator of Bitcoin didn't paid any taxes to the US government.

So if the investors feel that Bitcoin is a better asset when compared to equities, the interest in stocks will go down. The market will crash. As far as the capital gains tax is concerned, there will be no change (since you need to pay the same tax for BTC as well). But if the corporations go down, they can have a negative impact on a lot of domains. For example, the donations to the political parties can take a hit. Board members have most of their annual salary in the form of stock options, and they'll take a hit. Pension funds have a lot of exposure to the stock markets and they'll be forced to book losses. The impact will be widespread. If I have to list out all of them, it is going to take a few hours.

In short, it is in the interest of the government that you purchase equities with inflated P/E ratio, rather than something decentralized, such as BTC.

[buwaytress]

Ten years is a long way if Bitcoin will be destroyed it should have been in the third or fourth year, not now that everybody is looking at it and wants to be part of the community, I don't know what will come that will get us caught by surprised, Bitcoin and the community has experienced everything, do you have a hint of what it is?

Yeap, this is the Lindy Effect I'm counting on to take us through the next decade and then see us out til my death (which hopefully, isn't for a few more decades!).

It definitely should have been put down the minute someone even decided it would be a way to circumvent politics (wikileaks for example). But it didn't die did it? The last threat I actually thought might do something was the Bcash event, but fortunately for us, their motivations became all too clear and the good actors shored up.

I don't think we have experienced everything yet though so we're not clear. I would like to see something again. People keep talking about parabolas etc but they sometimes should consider after every catastrophe avoided, Bitcoin becomes stronger. Maybe the 2017 bull was this display of strength from adversity.

[Betwrong]

~
The US has grown exponentially before Bitcoin existed and will continue to do so, with or without embracing it. Crypto as a whole is one big hype. It's useless for the most part. What in the last 10 years came out of it?

Many modern pundits and philosophers, while admitting that capitalist economy is the most effective one in our current global economic system, suggest that it's starting to slip more and more, and, perhaps, will completely stop working in the near future. Again, it's not that any other economic system we know of is better, no it is not, but rather a completely new economic model has to be invented, and I believe that Bitcoin is going to be a part of that new model.

The US has grown exponentially because they were embracing progressive ideas faster than others, not because they were cool from the very beginning, and embracing Bitcoin is just their way of doing things.

Just my opinion. Of course, I can be wrong, but that's what I feel right now.

[squatter]

What I got from watching the recent hearings is an awareness that too much heaviness could drive crypto away into the arms of a more willing country. If America is conscious of losing their dollar hegemony they're also conscious that remaining a world capital of crypto is more of a benefit than the alternative.

Indeed, geopolitical competition really plays into Bitcoin's favor. Most governments (including the US) seem aware by now that driving cryptocurrency underground can only hurt their countries economically, and probably won't be effective anyway.

Still, they will try to control it the best way they know how -- by strangling VASPs with just enough regulation to see a handful of willfully compliant heavyweights emerge and consolidate the market. Or worse, they'll target users and their bitcoins as theymos pointed out, although I think his specific scenario is unlikely.

[romero121]

More governments have been revealing statements associated with bitcoin, some were against the use of cryptocurrencies while some support the usage without any form of legal regulations. This seems to have high level fluctuation in the market over the falling months. This is where users easily gets into temptation and goes out of holding.

By this time more countries will also plan on starting to circulate their own cryptocurrencies. Even at such scenarios I believe bitcoin usage will progress and there is nothing as a battle for bitcoin's life.

[Betwrong]

More governments have been revealing statements associated with bitcoin, some were against the use of cryptocurrencies while some support the usage without any form of legal regulations. This seems to have high level fluctuation in the market over the falling months. This is where users easily gets into temptation and goes out of holding.

By this time more countries will also plan on starting to circulate their own cryptocurrencies. Even at such scenarios I believe bitcoin usage will progress and there is nothing as a battle for bitcoin's life.

Issuing their own crypto currencies by different countries looks kind of stupid to me, but if they will start doing that, such actions can only contribute to wider adoption of BTC. Most people still think that crypto currencies have no future, but if their government issues a crypto coin, they will start taking the subject more seriously.

[pawanjain]

Funnily enough I think Bitcoin will have rather a lot to thank Facebook for in the coming years. Libra is going to consume government hate for quite some time to come while BTC continues to do its thing.

Libra arrived like a chucked hand grenade. Bitcoin's progress is way more subtle and harder to upend. Facebook is so universally loathed that Bitcoin looks like a wholesome and entirely neutral thing in comparison.

Insecure and authoritarian economies will continue to make noises about BTC as they always have. They'll look like utter fools eventually.

Kinda agree to that.Libra has already been facing a lot of criticism from the haters and a little appreciation from it's supporters.
The crypto community is kinda like neutral to Libra may be. A few hate it because of it's centralization and the others like it because of it's brand and support.
Libra has been in the eye of the governments, banks and financial institutions just like how bitcoin is.
So we can say that if Libra gets through this then it would become easier for bitcoin to handle the attacks from the banks and the government.
Bitcoin will surely dominate the market if things go well and if BTC  is accepted globally.

[Moiyah]

I thought we've already seen it's biggest battle when it dropped bitcoin to $3200, if this one is bigger, then probably we will go back to $1000.

Probably is the worst I guess. And if the battle is on, we are still here standing fighting for it. $1,000, if ever be the worst scenario, but for some investors a great big opportunity to buy more. If governments will be the one as a threat to bitcoin community, I will still look for a way to fight for it. And it is not easy to banned bitcoin, it will be tacled seriously before that happens in some countries.

[diahsw]

I hope everyone is ready for it, because it's going to be the biggest test in your HODLING abilities, and resolve.

What would transpire is the biggest socio-political/socio-psychological attack that the community would ever see, and it would involve state-level actors/governments.

Prepare yourselves. It's coming.

currently investment in bitcoin can provide significant benefits. However, it is worth the investment, the risk is very high. currently investment in bitcoin can provide significant benefits. However, it is worth the investment, the risk is very high. Besides that, no one knows when bitcoin will eventually be destroyed aka its value has dropped sharply. The battle for life is about to begin, but my and everyone's great hope that the value of bitcoin will continue to increase and I believe that everything will return to normal.