Ray Dalio predicting bitcoin to be outlawed

[electronicash]

https://www.youtube.com/watch?v=h3QmfOH1xZA

i just saw the video today but it was published yesterday. this is PBD podcast/video where they talk about it being outlawed and regulation about BTC and the government going to regulate heavily. is it going to be possible?

just a small talk about regulations actually although they were saying that it's just going to be outlawed temporarily, when do you think this will happen if it really will?
in the end of the discussion, the two guests are actually very bullish to BTC that they are optimistic that it will go up to a million.

[jackg]

If it gets outlawed, the value will probably go up...

It might be possible the US will outlaw ownership without a custodian, Europe and Asia won't though and people can just travel to Europe when they need to buy or sell...

[malevolent]

Blanket bans are unlikely but all other anti-Bitcoin measures aren't outside the realm of possibility, making it harder for Bitcoin to attract more users, almost as if it had been banned. Targeting of fiat on and off-ramps is already a serious hindrance, and many countries are also going after cryptocurrency to cryptocurrency transactions.

[Yaunfitda]

I don't think there's such thing as outlawed temporarily, it's either a complete ban, unlikely but who knows. Yeah, I agree if we here that it is going to be outlaw, for sure the price will be very bullish as it will attract more. But I'm not seeing US going in this direction though, unless their dollar is really threaten which is not.

[Karartma1]

A general ban on bitcoin and crypto in general is not viable right now. The state could well find a way to put some indirect bans but that won't help with their goal. I think they guy only want to throw the ball in the arena to see what's the sentiment and get a feeling of could be a possible reaction to it. IMHO, I don't see it happening.

[electronicash]

A general ban on bitcoin and crypto in general is not viable right now. The state could well find a way to put some indirect bans but that won't help with their goal. I think they guy only want to throw the ball in the arena to see what's the sentiment and get a feeling of could be a possible reaction to it. IMHO, I don't see it happening.

probably. the number of investors coming into crypto already increasing including the big names who were from different markets are here already. they'd considered criminals.

but they were just discussing the possibilities because during the way back financial crisis, they were also forcing people to surrender their gold otherwise they'd be outlaws. They were just thinking that history could repeat itself again, this time its BTC.

[Theb]

Looks like Yahoo interviewed a guy who is just reaching on the idea of a US ban for Bitcoin but has failed to establish any kind of fact that the government is indeed banning cryptocurrencies. They just cited how gold was banned in the past but it doesn't mean it will be the same for Bitcoin or for any cryptocurrency in this matter. What I have only seen so far is authorities are striving more regulations and more ways on how to track crypto transactions but nothing about a blanket ban being a solution for any kind of problem here.

Here is my comment on to the same topic in the press section. I believe that Dalio is just merely speculating about Bitcoin being outlaw as he have compared the ban on what happened to gold which has several different circumstances where during that time gold is competing with the US dollar, now we have the SEC even controlling and regulating multiple kinds of assets from stocks, bonds, and even cryptocurrencies. The US government isn't even headed in that direction on the way I see it with them more focus on regulations rather than prohibitions towards the crypto industry.

[Poker Player]

It is a prediction like any other. At least he hasn't said he's going to eat his dick on national TV if that doesn't happen.

I don't think that will happen. With more and more companies buying Bitcoin or offering Bitcoin through them (like Paypal), I see it extremely unlikely. Another thing is if restrictions are passed, such as only allowing you to own them through an exchange as mentioned, but that would be a futile move.

[avikz]

https://www.youtube.com/watch?v=h3QmfOH1xZA

i just saw the video today but it was published yesterday. this is PBD podcast/video where they talk about it being outlawed and regulation about BTC and the government going to regulate heavily. is it going to be possible?

just a small talk about regulations actually although they were saying that it's just going to be outlawed temporarily, when do you think this will happen if it really will?
in the end of the discussion, the two guests are actually very bullish to BTC that they are optimistic that it will go up to a million.

Regulation is inevitable! Bitcoin will be regulated in almost every country where the government is financially stable! Some countries will also try to pass a law to ban bitcoin. However, is a law enough to ban a technology like bitcoin? The answer is no! There are literally many ways to use bitcoin and convert to real money! Just same as happening in Nigeria now!

So regulation is incoming. Every government will try to tax it heavily so that people are somewhat discouraged to use it. But at the end of the day, bitcoin will eventually win!

Pro tip - start accumulating Monero! This privacy focused coin will be huge in the future!

[HeRetiK]

I don't think that will happen. With more and more companies buying Bitcoin or offering Bitcoin through them (like Paypal), I see it extremely unlikely. Another thing is if restrictions are passed, such as only allowing you to own them through an exchange as mentioned, but that would be a futile move.

Exactly this. That Bitcoin is going to be banned eventually has been predicted since at least 2013 and nothing ever came of it (except for some temporary "bans" in China). By now Bitcoin has become so deeply ingrained with even wealthier parts of the population and the economy that getting rid of it is going to be harder than ever.

It's very likely that regulation around fiat-interfaces as mentioned by malevolent is going to become ever tighter though. However regulations already have become very strict over the years under the guise of anti-money-laundering laws (at least in the EU) so I'm not sure how much more is practically possible.

[magneto]

https://www.youtube.com/watch?v=h3QmfOH1xZA

i just saw the video today but it was published yesterday. this is PBD podcast/video where they talk about it being outlawed and regulation about BTC and the government going to regulate heavily. is it going to be possible?

just a small talk about regulations actually although they were saying that it's just going to be outlawed temporarily, when do you think this will happen if it really will?
in the end of the discussion, the two guests are actually very bullish to BTC that they are optimistic that it will go up to a million.

I would actually agree.

When CBDC's start to get issued across the world on a sizable scale, it'll be inevitable that BTC and other decentralised currencies get further draconian regulations pushed upon it, if not a complete restriction of access to exchange services.

But that's not mutually exclusive to a long term bull case for BTC - as others have mentioned, the enforceability of any attempted ban is simply nil. Look at India and China for instance. There is still a ton of market activity from these regions that we're seeing today despite bans.

[YOSHIE]

I quote one of the headlines of Ray Dalio's talk about Bitcoin.

Ray Dalio Believes That The Government Will Ban Bitcoin Sooner or Later, and He's Wrong.

Bitcoin can't be stopped.

I just read what Ray Dalio said, it is very clear that the reasons given by Ray Dalio do not make sense to the average Bitcoin user.
Ray Dalio himself does not believe that the law to ban Bitcoin is working or not.
With his age now being 71 years old with the birth of 1949, I'm sure he can't do that anymore.

Though: he is a legend.

[yhiaali3]

Many countries are chasing Bitcoin and cryptocurrencies and trying to outlawed it, the United States and Europe are at the top of the list of these countries trying to impose a comprehensive ban on Bitcoin, I don't know why all these governments have all this fear of Bitcoin if they say it is just a bubble? Despite all the attempts to ban and impose restrictions, Bitcoin is still spreading more and more and large companies still join the Bitcoin Club daily.

[Streets 2.0]

Neither from a legal nor from a technical point of view, such a ban is everywhere impossible. The trend that has emerged in this year 2021 obviously gives us an idea that the largest corporations and funds are investing in cryptocurrencies and bitcoin itself. What is the point after such statements by leaders and heads of government - to follow the path of prohibition? They just can't do it. Even if in some countries there is a complete ban and criminal punishment, it will simply scare people away from working in these countries and they will do it in others where everything is allowed or at least regulated by tax laws. The country will lose, which simply prohibits this type of business and loses money.

[7788bitcoin]

just a small talk about regulations actually although they were saying that it's just going to be outlawed temporarily, when do you think this will happen if it really will?
in the end of the discussion, the two guests are actually very bullish to BTC that they are optimistic that it will go up to a million.

If these gentleman was speculating about bitcoin going to a million dollars to get the attention then he got them, because i had no idea who Ray Dalio was before this thread and i had to google him to know who the hell he was  .

They are bullish but they think that the government will regulate heavily and even temporarily outlaw bitcoin, these are polar opposite things and how can they say these in one sentence  . If the US government is going to regulate it heavily then institutional investors might back out and the price will fall and how can it reach a million dollars if that is the case  .

[coin-investor]

The government right now is facing a pandemic which is making havoc again, I don't think they will take the time to impose regulation on Cryptocurrency, they will spend manpower and funds just to fully outlowed, I don't think they will succeed, they have not succeeded in the past I don't think they can now, it's futile and it will not work now.

The best they can do is to regulate it, and tax it, the tax can help the government coffer, if they choose to outlaw it, they will spend money.

[willoweb]

The topic is just relevant and probably they need to really divert attention associated with the Covid-19 pandemic and the consequences for society associated with restrictions on the rights of citizens to move and more. I also learned for the first time who this is and this person is absolutely of no value either to the community or to the government. Everything is decided at the very top, especially in such an important financial point of view as bitcoin and cryptocurrency in general. Prohibiting them will fail. But they can track your transactions from the exchange for exchange for ordinary money and find fault with you because of this. but only that they can.

[plr]

https://www.youtube.com/watch?v=h3QmfOH1xZA

i just saw the video today but it was published yesterday. this is PBD podcast/video where they talk about it being outlawed and regulation about BTC and the government going to regulate heavily. is it going to be possible?

just a small talk about regulations actually although they were saying that it's just going to be outlawed temporarily, when do you think this will happen if it really will?
in the end of the discussion, the two guests are actually very bullish to BTC that they are optimistic that it will go up to a million.

It is outlawed in many countries and some countries are trying to outlaw it he is not updated on the status of Cryptocurrency in many countries, but even if those countries continue to outlaw Cryptocurrency, investors can always find a way, those countries that have outlawed Bitcoin are small countries who do not want to give their people the liberty to be financially independent.

[zasad@]

https://www.youtube.com/watch?v=h3QmfOH1xZA

i just saw the video today but it was published yesterday. this is PBD podcast/video where they talk about it being outlawed and regulation about BTC and the government going to regulate heavily. is it going to be possible?

just a small talk about regulations actually although they were saying that it's just going to be outlawed temporarily, when do you think this will happen if it really will?
in the end of the discussion, the two guests are actually very bullish to BTC that they are optimistic that it will go up to a million.

I would actually agree.

When CBDC's start to get issued across the world on a sizable scale, it'll be inevitable that BTC and other decentralised currencies get further draconian regulations pushed upon it, if not a complete restriction of access to exchange services.

But that's not mutually exclusive to a long term bull case for BTC - as others have mentioned, the enforceability of any attempted ban is simply nil. Look at India and China for instance. There is still a ton of market activity from these regions that we're seeing today despite bans.

I know that some Chinese people accept payments for goods with cryptocurrencies. It's hard for me to judge their laws, but the shadow market in China is much larger than in Russia.
Analysts write about it on Twitter.
https://twitter.com/mattysino/status/1271301701182476289
Not one law will be able to stop these operations, the only problem is the exchange of cryptocurrency for fiat. If most people start accepting payments in cryptocurrency, then fiat will not be required.

[Lorence.xD]

If it gets outlawed, the value will probably go up...

It might be possible the US will outlaw ownership without a custodian, Europe and Asia won't though and people can just travel to Europe when they need to buy or sell...

I hope that it will be the case, I wouldn't be so sure in Asia that it will not be outlawed because I know for a fact that third-world countries have the most corrupt government so if it ever comes to bitcoin being outlawed, I am pretty sure that it is going to happen in my country. The good thing is that in terms of cryptocurrency progression in my country, they are really slow so I am not that worried.