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Posted: 12/20/2017 2:16:06 PM EDT
[#1]
The day that happens, man will truly be free.
Big govts don't like that, so don't expect it to happen without things getting bloody. 
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Posted: 12/20/2017 2:16:46 PM EDT
[#2]
Fedcoin and outlaw all of the rest of them. 90% of people are too retarded to figure out how to store them on thumb drives, etc. so it'll be relatively easy to just legislate exchange sites out of existence.
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Posted: 12/20/2017 2:18:33 PM EDT
[#3]
Interesting thought.
The government already doesn't have control of vast segments of the underground economy. Losing more would cause them to lose more power and they'll not let that happen quietly. Private money that can't be traced on a massive scale that can be securely traded across the Internet ... there have to be government plans to reel that shit in. |
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Posted: 12/20/2017 2:18:36 PM EDT
[#4]
I have a lot of canned goods. I will trade some for a night with a hungry man's wife. And when I am done with her, I use my guns to take back my canned goods. Then I ride off on my motorcycle wearing a purple Mohawk and football pads with spikes through them. Eventually I will be put down by a man with a need for justice in a lawless world.
The Apocalypse will be my time to shine. |
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Posted: 12/20/2017 2:20:05 PM EDT
[#5]
Freedom for humanity is the most important thing. It's our chance to break from the existing paradigm.
BTW, Andy Hoffman, late of Miles-Franklin precioius metals dealer in Denver, recently dumped all his silver to go pure digital. |
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Posted: 12/20/2017 2:21:22 PM EDT
[#6]
Quote HistoryQuoted:
The day that happens, man will truly be free. Big govts don't like that, so don't expect it to happen without things getting bloody. Governments will never let that happen. |
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Posted: 12/20/2017 2:21:45 PM EDT
[#7]
Seriously, what's to stop the government from intervening?
Sure, they can't control the markets, but they could regulate the access points (i.e. where USD is converted to BTC). Like any wild beast that you cannot tame... you encircle it, cage it in. |
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Posted: 12/20/2017 2:22:25 PM EDT
[#8]
Quote HistoryQuoted:
I have a lot of canned goods. I will trade some for a night with a hungry man's wife. And when I am done with her, I use my guns to take back my canned goods. Then I ride off on my motorcycle wearing a purple Mohawk and football pads with spikes through them. Eventually I will be put down by a man with a need for justice in a lawless world. The Apocalypse will be my time to shine.  Spot on.
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Posted: 12/20/2017 2:22:48 PM EDT
[#9]
Quote HistoryQuoted:
Freedom for humanity is the most important thing. It's our chance to break from the existing paradigm. BTW, Andy Hoffman, late of Miles-Franklin precioius metals dealer in Denver, recently dumped all his silver to go pure digital. |
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Posted: 12/20/2017 2:22:56 PM EDT
[#10]
Quote HistoryQuoted:
The day that happens, man will truly be free. |
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Posted: 12/20/2017 2:25:16 PM EDT
[#11]
Wars. Wars are what happens when a government believes they are losing control of their money.
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Posted: 12/20/2017 2:26:49 PM EDT
[#12]
Quote HistoryQuoted:
I have a lot of canned goods. I will trade some for a night with a hungry man's wife. And when I am done with her, I use my guns to take back my canned goods. Then I ride off on my motorcycle wearing a purple Mohawk and football pads with spikes through them. Eventually I will be put down by a man with a need for justice in a lawless world. The Apocalypse will be my time to shine. 
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Posted: 12/20/2017 2:26:58 PM EDT
[#13]
Quote HistoryQuoted:
Fedcoin and outlaw all of the rest of them. 90% of people are too retarded to figure out how to store them on thumb drives, etc. so it'll be relatively easy to just legislate exchange sites out of existence. |
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Posted: 12/20/2017 2:27:11 PM EDT
[#14]
Never happen. If its one thing the government is about, it is control.
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Posted: 12/20/2017 2:33:11 PM EDT
[#15]
Quoted:
This thread isn't about the current speculative wave hitting some of these cryptocurrencies, like bitcoin, or whether their current valuation is a financial bubble or not. No, here I'm interested in people's thoughts about what happens if one day cryptocurrencies move into the mainstream for banking and financial transactions. There are powerful interest that would like to make sure that never happens. Not the least of which are governments. So, what happens? What do governments do? If this is a chess game what's the 'end move', how is it played? Your thoughts on this subject are appreciated. |
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Posted: 12/20/2017 2:34:43 PM EDT
[#16]
Could we get something like Executive Order 6102?
They'll just outlaw private ownership and force everyone to exchange their cryptocurrency for dollars, or perhaps a new official cryptocurrency, Fedcoin? Then if you're unfortunate enough to be caught owning cryptocurrency they make an example of you, to scare the public. It wouldn't take much, just a few well publicized cases. |
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Posted: 12/20/2017 2:35:31 PM EDT
[#17]
Keep in mind something. If I sell my crypto and get cash, I will be responsible for capital gains. If I can
buy something with a crypto coin, I don't. This is where this is going. Business is going to start accepting bitcoin for payment and that is going to fuel this thing. I was at a business meeting this morning and one of the guys brought a large window sign. We accept Bitcoin. That's what we are going to see in the future. The Guberment ain't going to like it but fuck them. |
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Posted: 12/20/2017 2:41:56 PM EDT
[#18]
The moment their is any talk from gov officials/politicians about the need to eradicate crypto it will plummet and become worthless.
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Posted: 12/20/2017 2:43:16 PM EDT
[#19]
It's happening now. Slowly but surely. Starting to trend on social media and mainstream.
It is the wild west right now so get your groove on before the regulations and restrictions become a reality. Places that already accept Bitcoin today: 4chan Steam Microsoft Overstock.com Virgin Galactic Lionsgate Films Tesla Square Subway Whole Foods Shopify New Egg RE/Max And the list grows. |
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Posted: 12/20/2017 2:43:28 PM EDT
[#20]
Quote HistoryQuoted:
Could we get something like Executive Order 6102? They'll just outlaw private ownership and force everyone to exchange their cryptocurrency for dollars, or perhaps a new official cryptocurrency, Fedcoin? Then if you're unfortunate enough to be caught owning cryptocurrency they make an example of you, to scare the public. It wouldn't take much, just a few well publicized cases. |
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Posted: 12/20/2017 2:44:53 PM EDT
[#21]
Quote HistoryQuoted:
The moment their is any talk from gov officials/politicians about the need to eradicate crypto it will plummet and become worthless. |
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Posted: 12/20/2017 2:45:00 PM EDT
[#22]
Quote HistoryQuoted:
Interesting thought. The government already doesn't have control of vast segments of the underground economy. Losing more would cause them to lose more power and they'll not let that happen quietly. Private money that can't be traced on a massive scale that can be securely traded across the Internet ... there have to be government plans to reel that shit in. I don't see how governments can allow it. Right now, it's fine. It's not a very big piece of the market. But it's growing. They'll just keep running stories demonizing it. Getting the public to believe it's dirty money, used by terrorist, neo-nazies, drug dealers, and organized crime. But while that isn't working it will provide them the excuse for their next move ....should (or when?) a next move become necessary. |
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Posted: 12/20/2017 2:47:57 PM EDT
[#23]
Quote HistoryQuoted:
Wars. Wars are what happens when a government believes they are losing control of their money. Quote HistoryQuoted:
Wars. Wars are what happens when a government believes they are losing control of their money. Quoted:
The moment their is any talk from gov officials/politicians about the need to eradicate crypto it will plummet and become worthless. |
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Posted: 12/20/2017 2:53:27 PM EDT
[#24]
Gov's love all this crypto stuff. Who do you think invented it back in the 70's? Sure it can be relatively anonymous if you do it right but 90% of people don't do it that way. So it's very good for data aggregation.
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Posted: 12/20/2017 2:55:39 PM EDT
[#25]
I'm speculating that the "fedcoin" or whatever it will be called will be the authorized coinage of the US banking system and you won't be able to go into it without registering your current coinage (like a market equalizer with centralized control that allows conversion of outside market coinage)
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Posted: 12/20/2017 2:57:15 PM EDT
[#26]
Ever heard of Liberty Dollars? It was a private currency consisting of physical coins and certificates backed by warehoused precious metals. Key word is was. Feds dropped the hammer on them in 07'-09', seized all the gold and silver and convicted the owner of counterfeiting - although the whole point of Liberty Dollars was that they were a privately operated alternative to the federal fiat currency system (which the owner and 250,000 users considered unconstitutional and doomed) and none of their users ever mistook them for US currency.
https://en.wikipedia.org/wiki/Liberty_dollar_(private_currency) If cryptocurrencies threaten the system the system will dick them hard. If the system finds a way to benefit from them, like Venezuela is trying to do in their desperation but on a much larger scale, then maybe cryptocurrencies will be let alone or promoted. |
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Posted: 12/20/2017 3:00:02 PM EDT
[#27]
Good things happen. Free market things happen. Things that aren't possible when fiat currency is manipulated by a central bank.
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Posted: 12/20/2017 3:01:34 PM EDT
[#28]
Quote HistoryQuoted:
Ever heard of Liberty Dollars? It was a private currency consisting of physical coins and certificates backed by warehoused precious metals. Key word is was. Feds dropped the hammer on them in 07'-09', seized all the gold and silver and convicted the owner of counterfeiting - although the whole point of Liberty Dollars was that they were a privately operated alternative to the federal fiat currency system (which the owner and 250,000 users considered unconstitutional and doomed) and none of their users ever mistook them for US currency. https://en.wikipedia.org/wiki/Liberty_dollar_(private_currency) If cryptocurrencies threaten the system the system will dick them hard. If the system finds a way to benefit from them, like Venezuela is trying to do in their desperation but on a much larger scale, then maybe cryptocurrencies will be let alone or promoted. 
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Posted: 12/20/2017 3:14:21 PM EDT
[#29]
Quote HistoryQuoted:
Ever heard of Liberty Dollars? It was a private currency consisting of physical coins and certificates backed by warehoused precious metals. Key word is was. Feds dropped the hammer on them in 07'-09', seized all the gold and silver and convicted the owner of counterfeiting - although the whole point of Liberty Dollars was that they were a privately operated alternative to the federal fiat currency system (which the owner and 250,000 users considered unconstitutional and doomed) and none of their users ever mistook them for US currency. https://en.wikipedia.org/wiki/Liberty_dollar_(private_currency) If cryptocurrencies threaten the system the system will dick them hard. If the system finds a way to benefit from them, like Venezuela is trying to do in their desperation but on a much larger scale, then maybe cryptocurrencies will be let alone or promoted. While most people still act they believe in a justice system, and that laws are the moral good, I get the impression that more and more people are waking up, and realizing that 'government' isn't really all good. Often it does things just to preserve it's own power and control, and to protect the interests of the wealthy that support it. Government and the central banks can't lose control of money. If or when cryptocurrency starts to go mainstream they will move against it. Allowing it to become mainstream would bring down the government and central banking game. |
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Posted: 12/20/2017 3:14:51 PM EDT
[#30]
Shocking news: The United States government delegated the power to create money to a privately owned organization more than a century ago.
It "lost control" of the money at that time. It will never regain that control. |
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Posted: 12/20/2017 3:23:10 PM EDT
[#31]
Quote HistoryQuoted:
Seriously, what's to stop the government from intervening? Sure, they can't control the markets, but they could regulate the access points (i.e. where USD is converted to BTC). Like any wild beast that you cannot tame... you encircle it, cage it in. I can send .5 bitcoin to a new wallet, and print it out as a paper wallet. I can give that piece of paper to whoever I am trading with, and they now control that .5 worth of bitcoin. They can then take that paper and send those coins to their own wallet or do whatever they want with it. The exchanges are just the most legitimate and convenient way of purchasing/selling crypto. It can certainly be bought and sold face to face outside of the exchanges. That's actually the entire point of crypto currency, it can be bought and sold without fear of any government intervention or manipulation. |
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Posted: 12/20/2017 3:24:09 PM EDT
[#32]
Quote HistoryQuoted:
Could we get something like Executive Order 6102? They'll just outlaw private ownership and force everyone to exchange their cryptocurrency for dollars, or perhaps a new official cryptocurrency, Fedcoin? Then if you're unfortunate enough to be caught owning cryptocurrency they make an example of you, to scare the public. It wouldn't take much, just a few well publicized cases. |
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Posted: 12/20/2017 3:24:38 PM EDT
[#33]
Quote HistoryQuoted:
They can try to outlaw them but other places will recognize them. For instant, Australia and Japan both recognize Bitcoin. In fact, it will probably ultimately be some international treaty that kills it. I guess my point is, while the investment risk might be high, it's not the greatest risk to cryptocurrency 'investing'. Regulatory risk is the greater risk. |
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Posted: 12/20/2017 3:38:55 PM EDT
[#34]
They can always ratchet up the anti money laundering laws.
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Posted: 12/20/2017 3:41:04 PM EDT
[#35]
China has tried.
Isn't exactly working. |
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Posted: 12/20/2017 3:52:25 PM EDT
[#36]
Quote HistoryQuoted:
China has tried. Isn't exactly working. Forbes article on China's attempt to ban bitcoin. But you know governments have top men working on this problem.  Here's an interesting thought. China's move, might in part, be driving current prices. China bans it, and the price goes through the roof, because people don't trust their governments. So they're buying stores of value, outside of their governments control. |
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Posted: 12/20/2017 4:02:57 PM EDT
[#37]
I am more concerned what happens when the world abandons the US dollar as the standard for world currency value. https://www.thebalance.com/world-currency-3305931
Most Americans retirement and investments is in US Dollars quantity of stocks. What will happen if / when the rest of the world goes to a standard crypto value? What will happen when the US can’t just print more dollars to prop up the economy? If you had 100k of stock and the US dolllar is no longer the worlds currency how much stock will you really own? Answers are way beyond my sphere of thinking anything other than Oh, shit! |
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Posted: 12/20/2017 4:05:43 PM EDT
[#38]
Quote HistoryQuoted:
I am more concerned what happens when the world abandons the US dollar as the standard for world currency value. https://www.thebalance.com/world-currency-3305931 Most Americans retirement and investments is in US Dollars quantity of stocks. What will happen if / when the rest of the world goes to a standard crypto value? What will happen when the US can’t just print more dollars to prop up the economy? If you had 100k of stock and the US dolllar is no longer the worlds currency how much stock will you really own? Answers are way beyond my sphere of thinking anything other than Oh, shit! |
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Posted: 12/20/2017 4:11:27 PM EDT
[#39]
OP is asking scary questions.
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Posted: 12/20/2017 4:11:46 PM EDT
[#40]
Quote HistoryQuoted:
Interesting early test. Forbes article on China's attempt to ban bitcoin. But you know governments have top men working on this problem. Here's an interesting thought. China's move, might in part, be driving current prices. China bans it, and the price goes through the roof, because people don't trust their governments. So they're buying stores of value, outside of their governments control. Quote HistoryQuoted:
Quoted:
China has tried. Isn't exactly working. Forbes article on China's attempt to ban bitcoin. But you know governments have top men working on this problem. Here's an interesting thought. China's move, might in part, be driving current prices. China bans it, and the price goes through the roof, because people don't trust their governments. So they're buying stores of value, outside of their governments control. One interesting angle is governments getting caught out in the cold years later following bans, etc. At this point they almost have to hedge to some degree as purely a long shot contingency. This is especially important as it concerns government supported mining operations. |
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Posted: 12/20/2017 4:13:41 PM EDT
[#41]
Quote HistoryQuoted:
I have a lot of canned goods. I will trade some for a night with a hungry man's wife. And when I am done with her, I use my guns to take back my canned goods. Then I ride off on my motorcycle wearing a purple Mohawk and football pads with spikes through them. Eventually I will be put down by a man with a need for justice in a lawless world. The Apocalypse will be my time to shine. |
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Posted: 12/20/2017 4:15:27 PM EDT
[#42]
Quote HistoryQuoted:
I am more concerned what happens when the world abandons the US dollar as the standard for world currency value. https://www.thebalance.com/world-currency-3305931 Most Americans retirement and investments is in US Dollars quantity of stocks. What will happen if / when the rest of the world goes to a standard crypto value? What will happen when the US can’t just print more dollars to prop up the economy? If you had 100k of stock and the US dolllar is no longer the worlds currency how much stock will you really own? Answers are way beyond my sphere of thinking anything other than Oh, shit! A move into cryptocurrency would be incredibly disruptive. Especially for all the unfunded liabilities, like social security, medicare payments, government pensions, and entitlements. ...for those it would be a huge problem. |
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Posted: 12/20/2017 4:16:19 PM EDT
[#43]
our gov can ban bitcoin and other cryptos with the stroke of a pen. Will it completely eliminate it? no.
But it will make it MUCH less desirable of a currency if you no major retailer is able to accept it and if US based exchanges are shut down. IMO enjoy the fun while you can as there is likely some profit to be made still but for those that invested early its probably a good idea to sell a little here and take some profits off the top to make sure you arent left holding a worthless digital currency. |
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Posted: 12/20/2017 4:17:17 PM EDT
[#44]
Quote HistoryQuoted:
I am more concerned what happens when the world abandons the US dollar as the standard for world currency value. https://www.thebalance.com/world-currency-3305931 Most Americans retirement and investments is in US Dollars quantity of stocks. What will happen if / when the rest of the world goes to a standard crypto value? What will happen when the US can't just print more dollars to prop up the economy? If you had 100k of stock and the US dolllar is no longer the worlds currency how much stock will you really own? Answers are way beyond my sphere of thinking anything other than Oh, shit! |
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Posted: 12/20/2017 4:18:43 PM EDT
[#45]
Quote HistoryQuoted:
I am more concerned what happens when the world abandons the US dollar as the standard for world currency value. https://www.thebalance.com/world-currency-3305931 Most Americans retirement and investments is in US Dollars quantity of stocks. What will happen if / when the rest of the world goes to a standard crypto value? What will happen when the US can’t just print more dollars to prop up the economy? If you had 100k of stock and the US dolllar is no longer the worlds currency how much stock will you really own? Answers are way beyond my sphere of thinking anything other than Oh, shit! |
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Posted: 12/20/2017 4:25:05 PM EDT
[#46]
The US losing the dollar as the main currency of exchange would be catastrophic to say the least. Digital currency backed by Asian governments might seal it's fate.
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Posted: 12/20/2017 4:28:26 PM EDT
[#47]
Quote HistoryQuoted:
The US losing the dollar as the main currency of exchange would be catastrophic to say the least. Digital currency backed by Asian governments might seal it's fate. 
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Posted: 12/20/2017 4:33:15 PM EDT
[#48]
Quote HistoryQuoted:
Chinese already run Bitcoin town. You'd think they'd be all for it rather than banning it. Quote HistoryQuoted:
Quoted:
The US losing the dollar as the main currency of exchange would be catastrophic to say the least. Digital currency backed by Asian governments might seal it's fate. |
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Posted: 12/20/2017 4:34:25 PM EDT
[#49]
Quote HistoryQuoted:
No, they can't. You can meet up with someone at a park, they can give you cash, and you can transfer crypto to them. So long as you have internet access you have a means to send and receive crypto. As a matter of fact, you can even print paper wallets and exchange crypto with no electronics whatsoever. You do not have to use an exchange. I can send .5 bitcoin to a new wallet, and print it out as a paper wallet. I can give that piece of paper to whoever I am trading with, and they now control that .5 worth of bitcoin. They can then take that paper and send those coins to their own wallet or do whatever they want with it. The exchanges are just the most legitimate and convenient way of purchasing/selling crypto. It can certainly be bought and sold face to face outside of the exchanges. That's actually the entire point of crypto currency, it can be bought and sold without fear of any government intervention or manipulation. |
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Posted: 12/20/2017 4:36:07 PM EDT
[#50]
Quoted:
This thread isn't about the current speculative wave hitting some of these cryptocurrencies, like bitcoin, or whether their current valuation is a financial bubble or not. No, here I'm interested in people's thoughts about what happens if one day cryptocurrencies move into the mainstream for banking and financial transactions. There are powerful interest that would like to make sure that never happens. Not the least of which are governments. So, what happens? What do governments do? If this is a chess game what's the 'end move', how is it played? Your thoughts on this subject are appreciated. |
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