Crypto buying US elections this cycle...

[legiteum]

Or, at least trying to buy our elections. It doesn't look like its succeeding as well as they hoped:

https://www.citationneeded.news/issue-111/

But the above link shows the mind-boggling breadth and depth of the crypto industry's attempt at buying the US political system.

And yet the Wikipedia article on Bitcoin still has the words, "based on a libertarian philosophy..." in the summary  .

Make no mistake, buying Bitcoin is now just buying into another government-controlled pyramid scheme.

Don't get me wrong, maybe the price of BTC will go up and price and you will profit from it, but... don't pretend it's about "freedom from the government" or something.  Like it or not, this is what Bitcoin has evolved into: it's no different than buying stock in oil company, etc.

[Frankolala]

The link that you provided above is talking about Tether and not bitcoin. We all know that Tether is centralized and the owners will do everything to make sure that it's 1:1 ratio with USD fiat. Government cannot control bitcoin network because it's beyond censorship. They can only force you to use a centralized service for you bitcoin dealings. You have full control for your bitcoin if it's in your noncustodial wallet and bitcoin is than centralized asset because of her decentralized nature.

[legiteum]

The link that you provided above is talking about Tether and not bitcoin. We all know that Tether is centralized and the owners will do everything to make sure that it's 1:1 ratio with USD fiat. Government cannot control bitcoin network because it's beyond censorship. They can only force you to use a centralized service for you bitcoin dealings. You have full control for your bitcoin if it's in your noncustodial wallet and bitcoin is than centralized asset because of her decentralized nature.

And most people who buy Bitcoin use a custodial wallet. And while the US government hasn't moved to control the Bitcoin network itself (although it could if it wanted to), regulations control the price. A change in US regulations can move the price upwards or downwards massively, and all people care about with Bitcoin is the price, so that's defacto control right there.

That's why the crypto industry is trying to buy the US government: it's just paying off the master  .

[Ambatman]

They can influence the price doesn't necessarily mean they can control bitcoin itself
Yeah price usually reflect what demand and supply have chosen to act on
But Bitcoin is more than just price.
One thing I would like you to know is that it might not be of use to you now
Until it becomes of use to you.

at least trying to buy our elections. It doesn't look like its succeeding as well as they hoped:

Crypto is trying to but not Bitcoin.

[_act_]

Don't get me wrong, maybe the price of BTC will go up and price and you will profit from it, but... don't pretend it's about "freedom from the government" or something.  Like it or not, this is what Bitcoin has evolved into: it's no different than buying stock in oil company, etc.

You do not know what you are posting about at all. The price of bitcoin always increase during the United States election, but that does not mean the government are controlling bitcoin. Bitcoin is decentralized and it is censorship resistant as of today and since when it has been created. You have your keys and you have full control of your bitcoin on the blockchain. I still send bitcoin cross border without any restrictions.

[Zoomic]

Lately, there's been several threads in which the discussions seem to be confusing government's influence on Bitcoin's price with government's full control over Bitcoin, they're not the same.

The government through regulations, economic policies and public statements can influence the price of Bitcoin but that doesn't mean they control the Bitcoin protocol.

Wether Bitcoin value rises or falls depends on demand so buying it during election doesn't guarantee a profit.

The market can be influenced by government or institutions but nobody is controlling Bitcoin, not even the government.

[Spaceman1000$]

Or, at least trying to buy our elections. It doesn't look like its succeeding as well as they hoped:

https://www.citationneeded.news/issue-111/

But the above link shows the mind-boggling breadth and depth of the crypto industry's attempt at buying the US political system.

And yet the Wikipedia article on Bitcoin still has the words, "based on a libertarian philosophy..." in the summary   .

Make no mistake, buying Bitcoin is now just buying into another government-controlled pyramid scheme.

Don't get me wrong, maybe the price of BTC will go up and price and you will profit from it, but... don't pretend it's about "freedom from the government" or something.  Like it or not, this is what Bitcoin has evolved into: it's no different than buying stock in oil company, etc.

It is not fair to say you will compare bitcoin to buying of stock in the oil company, the Independence of Bitcoin is still there regardless of the fact that you want to see less of it. Besides the article was talking about stable coins, which we all know that the government is the that literally controls it. Government can as well buy election using any means, it must not necessarily have to be crypto, they can finance it using different means, government have been influencing decisions of election long before the arrival of crypto, so crypto shouldn't be used as a yastick.

[legiteum]

[...]
But Bitcoin is more than just price.
[...]

To 95% of it's users, it's not. 

Lately, there's been several threads in which the discussions seem to be confusing government's influence on Bitcoin's price with government's full control over Bitcoin, they're not the same.

It's a distinction without a difference. People don't care about how Bitcoin actually works (and as we've discussed in another thread, if they could be sure BTC would go up in price if they changed the architecture, then they would do it).

All most holders of BTC care about is Number Go Up. And since the US government can make Number Go Down, they essentially control it.

It is not fair to say you will compare bitcoin to buying of stock in the oil company, the Independence of Bitcoin is still there regardless of the fact that you want to see less of it.

Sure, the independence of the actual Bitcoin network is still there, that's just the physical layer. The important thing about Bitcoin to almost all of its holders is the price, not the technical details.

If the US government cracked down on Bitcoin, perhaps they wouldn't "kill it" completely, but they could surely drive the price down 99.9%, which would be the same thing in most people's minds.

The US government could, if it wanted to, take over Bitcoin. There is absolutely no political will to do this, but it's not like it's impossible or something.