"Under This New Law, Cryptocurrency Could Become Illegal"

[TECSHARE]

https://www.sovereignman.com/trends/under-this-new-law-cryptocurrency-could-become-illegal-28066/

What will you do when cryptocurrency is made illegal by fiat?

[1714889093]

1714889093

[20kevin20]

This is such a stupid move. It's just another step towards my fear, as I expressed in a thread a few months ago. Privacy slowly becomes obsolete and will probably be illegal in the future - and Bitcoin will suffer because of it.

This is another law for "the good of the country", isn't it? It's going to be used the same way every other technique, technology and whatever else they have is - we are interested in tracking people's smartphones but cannot do even half the effort to track down pedophile rings. Oh, wait. They're pedophiles, not criminals. I mean, they love children, right?

Well, it looks like there is a big obsession worldwide right now of authorities to know every single thing about you, to just invade your intimacy completely. And it's painful to see how many people still go for the "I do not have anything to hide so why would I bother" mindset. Like dude, they're literally starting to stomp your face with their boots and you still don't care. Would it even be surprising if cryptocurrencies were to be considered illegal at this point?

[Mauser]

https://www.sovereignman.com/trends/under-this-new-law-cryptocurrency-could-become-illegal-28066/

What will you do when cryptocurrency is made illegal by fiat?

It all depends on the country you are living in. Never would the hole world make cryptocurrencies illegal. There would always be some small safe haven countries allowing companies to run there bitcoin exchanges. Also the government can will never be able to enforce such a law to a 100%.  Shadow economies exist for a long time. No need to worry or sell your bitcoins.

[20kevin20]

It all depends on the country you are living in. Never would the hole world make cryptocurrencies illegal. There would always be some small safe haven countries allowing companies to run there bitcoin exchanges. Also the government can will never be able to enforce such a law to a 100%.  Shadow economies exist for a long time. No need to worry or sell your bitcoins.

Governments will never be able to enforce drug illegality to a 100% yet most countries in the world have it. I still can't comprehend how most think Bitcoin banning is so far-fetched; didn't India, with almost 1.5B people, just unban it? If they were able to hold on to that ban for that long, other countries are as well.

I have been fearing this scenario of a crypto ban for years now, but honestly with time passing by it only gets closer to that point. I guess it'll either be a ban or artificial centralization; it looks like they're pushing for the latter, but if it fails then they might go for the former. The average person has no idea how to buy BTC without having KYC stomping on their face at one point anyway, I mean in a matter of 1-2 years it got to the point where the safest (in terms of KYC avoidance) fiat <-> crypto exchange is face to face.

If we ever get a crypto ban, good luck to those willing to avoid it. It's called immutable ledger for a reason. What you do on it stays there forever, so one little leak and you're out.

[BADecker]

There isn't any law that could be made to make crypto illegal, except for sheep, who simply obey no matter what.

Such a law can't be enforced without shutting down the Internet; https://piratebox.cc/ and https://en.wikipedia.org/wiki/PirateBox.

The idea that they are closing only has to do with the website, not the PirateBox.

[Virtual Systems]

I understand why the government tries to forbid cryptocurrency -- to control people. I mean that without bitcoin, etc., they will be able to track almost every person and monitor everything we do. Almost every information about you is on the Internet, including your bank account & id.

• You pay by card = police see where you are, what stores do you prefer, and can calculate your future moves
• Bitcoin = no one except you knows where you are and what you're buying = no one can reach or track you.

Frequently, the government feels weak when they can't watch you. Big Brother and all that jazz, you know. Snowden illustrates everything pretty clearly.

Honestly, I feel pretty insecure in the 21st century

[madnessteat]

I think that if the crypt is banned, many of us will just temporarily stop exchanging the crypt for a fiat so that we don't get caught by public services. It will be possible to go to a completely clean address through anonymous cryptographic currencies and wait for a better time. We will all go online only via VPN, TOR, use our full nodes to broadcast and track transactions.

[tvbcof]

https://www.sovereignman.com/trends/under-this-new-law-cryptocurrency-could-become-illegal-28066/

What will you do when cryptocurrency is made illegal by fiat?

We all knew this legal attack on crypto was coming.  They've been working on it since the Clinton years.

The solution is 'steganography'.  'Bitcoin-over-cat-pic'  This is why I made it my life's work for a few months/years to try to fight back the 'bloat attack' and the endless minions of juvy idiots who thought Bitcoin should be used for trinkets.  BCH got the 'tards off our case (and gave me some extra spending money in the process.)

From a decade ago I figured Bitcoin had the potential to get pretty high (much higher than we've seen so far) but I didn't think it likely to see $10,000 absent it being made illegal.  Happily I was mistaken.  If they make Bitcoin illegal (which implies the roll-out of the one-world cashless currency that the balognavirus scamdemic is all about) I expect Bitcoin to finally take off to it's true potential.  The world is awash with examples of how making things illegal enhances their value.

The catch is that people without both techy brains and balls will be excluded from the game.  At least for a few years.

[TwitchySeal]

https://www.sovereignman.com/trends/under-this-new-law-cryptocurrency-could-become-illegal-28066/

What will you do when cryptocurrency is made illegal by fiat?

You linked to an advertisement for an ebook on how to double your money with gold.

[tvbcof]

https://www.sovereignman.com/trends/under-this-new-law-cryptocurrency-could-become-illegal-28066/

What will you do when cryptocurrency is made illegal by fiat?

It all depends on the country you are living in. Never would the hole world make cryptocurrencies illegal. There would always be some small safe haven countries allowing companies to run there bitcoin exchanges. Also the government can will never be able to enforce such a law to a 100%.  Shadow economies exist for a long time. No need to worry or sell your bitcoins.

I would advise to even the technically competent minority among us to cash out as much BTC as is necessary for a few months/years of top-ramen.
 
Bitcoin basically cannot help but 'bounce back' (absent some sort of quantum computing attack or whatever), but it could be a while.  Even when trading comes back on-line it will probably be useful only for very select things (e.g., paying off for...um...'special services'.)  Probably it won't be useful for mundane things like food and housing.

These 'necessities of life' type things will be heavily monitored and controlled for all but a tiny few people.  That's basically the idea behind the global cashless monetary system which is about to be rolled out in conjunction with ID2020 and the rest of the 'new normal' stuff.

---

BTW, I suggest a level of 'cash out' for people in my category who don't trust the banks to hold my nest-eggs.  The reason I don't trust the banks is discussed in the following vid which is a 'must see' for people who have enough money to be able to afford a pot to piss in.  Or who just want to know more about our nearly defunct debt based fiat monetary in order to figure out how to play the next wave:

  https://www.youtube.com/watch?v=RqZcXdRs5qE

[TECSHARE]

https://www.sovereignman.com/trends/under-this-new-law-cryptocurrency-could-become-illegal-28066/

What will you do when cryptocurrency is made illegal by fiat?

You linked to an advertisement for an ebook on how to double your money with gold.

Actually it is an article, but I am sorry you are too retarded to know how to use an adblocker. My condolences.

[TwitchySeal]

https://www.sovereignman.com/trends/under-this-new-law-cryptocurrency-could-become-illegal-28066/

What will you do when cryptocurrency is made illegal by fiat?

You linked to an advertisement for an ebook on how to double your money with gold.

Actually it is an article, but I am sorry you are too retarded to know how to use an adblocker. My condolences.

I do use an ad blocker.  If you're going to post something you should at least read it.  It's an ad disguised as a click bait article.

Here's how it ends:

Once a technology company creates a way to remotely access a device, then that back door is available to ANYONE who can crack it.

It’s not like some hacker, or foreign intelligence agency, is going to probe the back door on your iPhone and say, “Oh, nevermind, this is only for the US government. I guess I’ll try to find another way in.”

If this law passes, not only will the government be able to access your devices, but hackers will have endless new treasures of data to steal… courtesy of the United States Senate.

It’s genius.

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It's an ad. 

[suchmoon]

It's an ad.

Leave TECSHARE alone... you can't expect him to link to the proposed Senate bill or to have his own opinion about it. Too much work.

Just sell all your bitcoins and buy gold.