New Concern Regarding the Future of Bitcoin and Crypto Industries !

[LeezHamilton]

New Concern Regarding the Future of Bitcoin and Crypto Industries !

I have been reading the recent news and doing a deep research on many complex matters over the last ten years. I have observed that a group of pro fiat alliance is trying to harm the progress of Bitcoin and decentralised digital currency industry.

Recently I have notice some thing sinister and it is hidden in the COPA v Craig Wright case currently on hearing in London. If the conclusion the COPA suing is properly understood by the Justice Mellor and COPA win the case then the developers has nothing to fear of Craig but if the case under judged and Craig win the case then there will be chaos in the Bitcoin and Crypto industry.

Therefore, I am, trying to find a solution to the later, if anything goes wrong.  As we know that don't trust but verify is the true freedom of crypto currency but governments and the  big financial institutions are the powerful entities we have to overcome. Therefore, it is time for the Bitcoin and Crypto community to be alert in every possible ways.  

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[Sim_card]

There is nothing an entity or group of people or even the government can do to bring down bitcoin. Government have tried in the past to kill bitcoin but the more they try, the more bitcoin shows them that it cannot be controlled or get rid of by anyone. This has made the government to see that fact and they don't have any choice than to let bitcoin be, so that they can also benefit from bitcoin potential by the approval of Bitcoin ETF. Bitcoin is no longer a baby and nothing Wright can do about it because bitcoin is decentralized. Don't bother yourself thinking on what to do because bitcoin will fight for herself. Just relax and continue with your DCA because it is now that bitcoin will become more popular and increase in value than before.

[pooya87]

The centralized authority trying to harm Bitcoin as much as they can is a fact and is an old one. There is no surprise there. But the situation with the Scammer Craig is exaggerated in my opinion. That's because at the end of the day the Bitcoin Protocol is completely open source and is completely under MIT license, so it is near impossible for anyone to make any claims on the code itself and demand any changes.

Not to mention that these things are "too centralized", meaning the court you are talking about is a local court not an international court capable of enforcing anything on a global scale! That's while Bitcoin is global.

[Amphenomenon]

The centralized authority trying to harm Bitcoin as much as they can is a fact and is an old one. There is no surprise there. But the situation with the Scammer Craig is exaggerated in my opinion. That's because at the end of the day the Bitcoin Protocol is completely open source and is completely under MIT license, so it is near impossible for anyone to make any claims on the code itself and demand any changes.

Not to mention that these things are "too centralized", meaning the court you are talking about is a local court not an international court capable of enforcing anything on a global scale! That's while Bitcoin is global.

I don't really know why people are still worried about this case, it's crystal clear that Craig is not Satoshi and I know that the judges knows deep down but just want to make money and so continue with the drama, which in the end everyone will officially accept Craig is the dumbest scammer.

Though we don't know Satoshi but one thing we all can accept is that if he ever accept to show himself again then it will be for him/they to prove himself after all we have seen high figure in this Forum, leave and return, main example Vod and if his account was hacked or someone try to steal his identity here it will be clear for many here to know its a lie.
Now just imagine someone claiming to be Lauda, that would be too dumb right...

[iBaba]

The centralized authority trying to harm Bitcoin as much as they can is a fact and is an old one. There is no surprise there. But the situation with the Scammer Craig is exaggerated in my opinion. That's because at the end of the day the Bitcoin Protocol is completely open source and is completely under MIT license, so it is near impossible for anyone to make any claims on the code itself and demand any changes.

Not to mention that these things are "too centralized", meaning the court you are talking about is a local court not an international court capable of enforcing anything on a global scale! That's while Bitcoin is global.

I also believe that no one on the surface of Earth at this point in time can wipe away Bitcoin. Bitcoin have come to stay and so shall it. Government cannot single-handedly take out bitcoin from its existence, the fact that bitcoin is an open source technology which is owned by everyone across the globe makes it even more difficult for bitcoin to be destroyed completely.

The only thing such governments can do is to ban its citizens from using bitcoin which a lot of countries have attempted and still doing today. However, they cannot stop people from using bitcoin per se and the world will continue to embrace this new technology because the more they try to fight it, the more popular it becomes amongst people.

[Raflesia]

Things like this have always happened since the beginning because after all the government does not want to take risks where their power in regulation is in accordance with their will, especially in the financial system in banking a little problematic with the presence of bitcoin then surely they will try to bring it down and things like this always happen every year in several ways such as some negative news or other things such as banning etc.

But we will also eventually realize that regardless of whatever actions are taken in the end they will not be able to take away the freedom of bitcoin because until now bitcoin cannot be regulated by anyone so they will not be able to do much because in the end they can only attack from the outside to weaken bitcoin but cannot destroy it from within because nothing can be done considering the access that bitcoin currently has cannot be regulated by anyone even if it is the government or some people who have an advantage in it.

[Antotena]

Therefore, I am, trying to find a solution to the later, if anything goes wrong.  As we know that don't trust but verify is the true freedom of crypto currency but governments and the  big financial institutions are the powerful entities we have to overcome. Therefore, it is time for the Bitcoin and Crypto community to be alert in every possible ways.  

When they say bitcoin is decentralized, this is to tell you that no country, no nation own Bitcoin and no government can fully control bitcoin, the highest thing they can do to bitcoin is to ban it or regulate it in particular jurisdiction but that doesn't mean it wouldn't do better in other part of the world. Look at China for example, in the year 2021 they have ban anything that has to do with Bitcoin which made the bitcoin price to crash because there were hunt down of even mining farms but today, bitcoin is trading at 45k and the mining has been even more decentralized than ever because we used to have more miners from China back then.

As for institutional investors, they can only add or reduce the growth of bitcoin which is the price aspect of bitcoin, you can't control bitcoin no matter the power you have in this world. Even you want to plam 51% attack on bitcoin, it wouldn't sit well because you will only be wasting resources and hardfork will be done quick to stabilized the network. Worry not, bitcoin is here to stay and it's untouchable.

[Zlantann]

Therefore, I am, trying to find a solution to the later, if anything goes wrong.  As we know that don't trust but verify is the true freedom of crypto currency but governments and the  big financial institutions are the powerful entities we have to overcome. Therefore, it is time for the Bitcoin and Crypto community to be alert in every possible ways.  

These threats will not end because the government wants to do everything possible to control Bitcoin. We can overcome the government by avoiding centralised platforms and upholding the decentralized nature of Bitcoin. We should do everything within our power to protect our privacy. Although more draconian laws are been enacted to attack Bitcoin, the currency will always overcome them

The only thing such governments can do is to ban its citizens from using bitcoin which a lot of countries have attempted and still doing today. However, they cannot stop people from using bitcoin per se and the world will continue to embrace this new technology because the more they try to fight it, the more popular it becomes amongst people.

There were fears that the ban of Bitcoin by China would have grave consequences on the Bitcoin ecosystem. These predictions never happened because the currency was able to overcome them. Today the community is facing the same threat in the US and many people think that without this country Bitcoin might not flourish. Bitcoin is a transnational currency that cannot be bottled up by one nation.

[LeezHamilton]

 Thank you all for your comments, I do know that governments cannot shutdown the Bitcoin Network but there are few agents have invaded the Bitcoin Community and Crypto space and causing troubles.

We are the people, we should be forming government to serve the people, instead in the modern democratic system only prominent plutocrats select and elect the members of parliament by the votes of the people. about 26 % to 35 % vote get casted. After the election, the ministers become the puppets in the hands of financial elites. This is the problem.

We must find a long-term solution to the problem mainly the sovereign debts problem. Bitcoin was invented to help the poor country by diversifying the money global money movements with a decentralised Bitcoin model but Bitcoin and crypto space have been hijacked by those agents and causing problems, this is my concerns.  

[Dunamisx]

New Concern Regarding the Future of Bitcoin and Crypto Industries !

I don't count anything that has nothing to do with the network attack a concern to the crypto network, we have the blockchain working perfectly as expected and nothing changed.

I have been reading the recent news and doing a deep research on many complex matters over the last ten years. I have observed that a group of pro fiat alliance is trying to harm the progress of Bitcoin and decentralised digital currency industry.

this is not their first attempt on attack, they have tried on several occasions, but avail not, all they were seeking is the *public attention which is of no concern to us that knows about their dirty agendas.

Recently I have notice some thing sinister and it is hidden in the COPA v Craig Wright case currently on hearing in London. If the conclusion the COPA suing is properly understood by the Justice Mellor and COPA win the case then the developers has nothing to fear of Craig but if the case under judged and Craig win the case then there will be chaos in the Bitcoin and Crypto industry.

the more we keep on considering someone like craig and his atrocities the more we are giving him edge to go further, people like that needs no attention.

[avikz]

If I am not wrong, I believe in 2019, a Florida court had passed a judgement in favour of Craig about the ownership of Bitcoin. I do not remember seeing much impact on the Bitcoin market due to that decision.

I am optimistic now as well. Bitcoin will not be impacted if the court decides that Craig is the Satoshi. Bitcoin is decentralized so it really doesn't matter if someone wants to change something. Every decision within network has to reach consensus. Craig cannot make arbitrary changes and the crypto market doesn't give a shit about what a court in London thinks.

[The Cryptovator]

Why are you worried about haters? From the beginning, they have been trying to downgrade Bitcoin, but they are still struggling. As a result, they were unable to bring down Bitcoin. They are fiat alliances and anti-Bitcoin figures. They can't influence Bitcoin, but rather just spread negativity. Who care? Still,  we love Bitcoin and will love it till the end of life. It's not emotions; it's reality. No one can down because this is decentralised Bitcoin. They hate it because Bitcoin is uncontrollable.

[kennyliang23]

The only concern I have is TAX.

If I have more money, I would be concerned on how the IRS tax on my crypto revenue.

[btc78]

I know that you are only preparing for the worst possible scenario but I believe that Craig Wright winning the case is quite far from happening.

Why? COPA has excellent lawyers that are seeping through Wright’s facade. They have presented numerous evidences showing why Wright did not actually create bitcoin such as documents. It shows that Wright may have forged documents so he will appear to be Satoshi. However, COPA also presented credit card statements that shows inconsistency on Wright’s claims.

Overall, I think Wright has a low chance of winning. This will not be the last time that someone will claim to be Satoshi or try to take credit of the success Bitcoin has right now. All we need to do is fight against those and continue to go towards a better future.

[_BlackStar]

There is nothing an entity or group of people or even the government can do to bring down bitcoin. Government have tried in the past to kill bitcoin but the more they try, the more bitcoin shows them that it cannot be controlled or get rid of by anyone.

If all governments in the world agreed to ban bitcoin completely - then bitcoin may get a very bad impact. Luckily - not all governments agree to ban bitcoin, some governments have agreed to adopt bitcoin and make room for adoption growth in their countries. Supportive regulations have made bitcoin's foundation stronger - while the community and its miners will continue to strengthen the network.

So far, governments in various countries will only try to strengthen their centralized systems so that the interest of financial industry players does not completely shift to this decentralized currency. They will try to divert the community's attention to the CBDC - centralize them and keep everything centralized.

[Sanitough]

Bitcoin will always be decentralized so any centralized property won’t be a good answer to bitcoin’s future and the crypto space. In fact, the hidden objective of any centralized government is to hold and control bitcoin and monitor all its transactions all over the world. That will always remain a fact as long as the government continues to back up fiat and destroy all its competitors that would go against paper currency. Remember that any centralized government won’t allow a decentralized currency to prosper and rule the whole financial industry.

[hatshepsut93]

I don't think that this case matters that much. Ok let's start with the worst scenario - the court siding with CSW. Would this convince the Bitcoin community? Absolutely not, the number of his followers might slightly increase and that would be it. And any legal effects would only concern the UK - the rest of the world will probably don't care about such precedent at all. But if CSW loses, it won't change anything too - everyone knows he's a liar already.

[Zoomic]

If I am not wrong, I believe in 2019, a Florida court had passed a judgement in favour of Craig about the ownership of Bitcoin. I do not remember seeing much impact on the Bitcoin market due to that decision.

I am optimistic now as well. Bitcoin will not be impacted if the court decides that Craig is the Satoshi. Bitcoin is decentralized so it really doesn't matter if someone wants to change something. Every decision within network has to reach consensus. Craig cannot make arbitrary changes and the crypto market doesn't give a shit about what a court in London thinks.

Exactly my thoughts.  After going through the case between COPA vs Dr Craig Wright, many questions came on my mind. If Craig is really a threat to Bitcoin, wouldn't the real Satoshi come out to end this madness once and for all? No man will make such a wonderful invention like Bitcoin and allow one scammer to take all the glory. But then, how do we know who exactly is the real Satoshi?

Then also, the case and every other battles that has been thrown at Bitcoin has opened my eyes to see that nothing can stop Bitcoin, not even the government. This is not the first time scammers are claiming to be Satoshi and they have all failed. More and more people like Craig will spring up but Bitcoin will remain unaffected. All thanks to Satoshi Nakamoto. We should all relax our minds and enjoy these wonderful invention because Bitcoin has come to stay

[Questat]

I have been reading the recent news and doing a deep research on many complex matters over the last ten years. I have observed that a group of pro fiat alliance is trying to harm the progress of Bitcoin and decentralised digital currency industry.

There are a lot of them and even the government but doesn't matter because they will still fail. In fact, in some countries after rejecting and banning Bitcoin, they are now accepting it. And these groups or individuals that are against crypto, in general, will soon change their minds and see the potential benefit they might get from investing and adopting Bitcoin. There is a time for them to realize and stop their selfishness because whether they like it or not, Bitcoin adoption will continue. It may be down in the future but for some reasons, not because of them.

[KiaKia]

Bitcoin was never created to be friendly with any group of people or the government, it's a perfect warhead against the government, if the new hate comes it just makes Bitcoin a better digital currency, it's decentralized and their hate will make it look better.

It's only a fool that ignores the fact that the government will always hate what they can't control and that's after they tried to take it by force and they failed, let them do what they can, it still won't stop the fan boys from accumulating Bitcoin.

I do believe we have gone passed this now, they have no choice but to make some kind of law or move for transparency when people start using Bitcoin, because the only dirty talk about Bitcoin is moving of fund under the radar, which obviously the government will never like.