Ray Dalio predicting bitcoin to be outlawed

[Poker Player]

I believe that Bitcoin is too big to fail. By this I mean that, especially in the USA, I see a hard ban as almost impossible. You have to think of all the companies that are getting into the Bitcoin world, either by buying it as a reserve or by implementing mechanisms for people to buy and sell it, like Paypal. All those companies have lobbies, there are pro-bitcoin senators, the SEC chairman taught a course on Bitcoin and blockchain at MIT etc.

At some point in the past I would have bought into a hard ban but not today. What might be is that some other kind of measures are put in place such as banning it being held off exchanges and the like, as has been mentioned.

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[Streets 2.0]

I think at the very beginning, when the states of the world and their governments figured out bitcoin (from a technical and fundamental point of view), there was a chance to bury it. How? It is very simple - if at the level of global political and financial organizations a total demand for its turnover and criminal prosecution of those who are engaged in it were introduced, this would alienate most of the people who occupy this area. Now there is no point in doing this - because, firstly, there will be no consensus, and secondly, it is simply not profitable, because everyone makes money on it.

[arabspaceship123]

It's possible Bitcoin might be outlawed but what are the chances of it happening all over the world? I'd say China would be the first to ban Bitcoin because they're introducing their state owned cryptocurrency later this year so naturally they'll try to remove any competition. If it's banned in China it'll be pushed underground and continue to play important roles for traders.

If countries bring in laws to heavily regulate cryptocurrencies it shouldn't push them underground as long as they aren't banned.

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.

[stomachgrowls]

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...

Not a single decision will really be enough for other countries to follow so this one is really expected to happen.

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.

+9999 to this.. If they wanted to ban bitcoin then they should have done this when it is just starting to make out some noise but now its already too big for them to handle it out.

Even though lets talk about on the smaller scale, they cant really still able to do something which does simply proves out that no one can controlled it.

They can regulate exchangers or services but it wont really be completely enough to stop it.

[arabspaceship123]

Can it's price really increase if it's made illegal if we aren't allowed to receive fiat to our bank accounts when we sell on exchanges?

Why would China allow cryptocurrencies to trade freely when their digital Yuan needs to be their base currency? Yesterday the British government said they're looking at starting their own digital cryptocurrency. Why would they allow Bitcoin to stay at the top? If it get outlawed it's price probably isn't going up.

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...

[Streets 2.0]

I do not believe in a widespread total ban. For that, it's too late which side to look at. I think even if a ban is introduced in some countries, even in such large populations as China, this does not mean that Bitcoin and other cryptocurrencies will no longer be mined there. In addition, if China, by some miracle, could completely block access and use of bitcoin in order to support its digital yuan, it would simply give additional opportunities to other countries. I am sure we would not see a complete ban.

[Jating]

Bitcoin is getting the adoption already, big companies such as Tesla have invested already, so how will the government outlawed it when one of the biggest is on the bandwagon? This is just pure speculation and I don't think it will have enough weight.

Doesn't make sense for government to ban or outlaw it, on the contrary they should adopt and embrace it because it could be a win win situation. They could tax it though, but that's it.

[willoweb]

In my opinion, it is simply stupid to prohibit something today. If we are talking about fighting something, you first need to determine what is the threat? Personally, I see a threat only for the existing banking system built on interest. I also see a problem in the fact that decentralized finance brings too much profit compared to classic deposits in banks. When a critical mass of people understands this, they will simply take their money out of banks and invest it in more profitable assets. The banking system may not be able to withstand such capital outflows

[dark1234]

actually rumors of a bitcoin ban have been heard since long ago. But until now the ban cannot be applied because there is no significant reason for the effect of changes in the security system and the globalized economic network, maybe only a few countries but not because of the influence of bitcoin but more the number of scamer in the country is intimidating the security of the public who may not be ready to carry out the security of digital cryptocurrency transactions