I Predict The Financial Establishment Will Crash Bitcoin

Discussion in 'Political Opinions & Beliefs' started by precision, Jan 7, 2018.

  1. vman12

    vman12 Well-Known Member Past Donor

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  2. vman12

    vman12 Well-Known Member Past Donor

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    Sure, just like any illegal funds.
     
  3. Pycckia

    Pycckia Well-Known Member

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    I disagree. Wall St. is getting into bitcoin and politicians are creatures of Wall St.
     
  4. Pycckia

    Pycckia Well-Known Member

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    The record exists and is public. The problem is associating the bitcoin with a public identity. Just like other money laundering schemes.
     
  5. vman12

    vman12 Well-Known Member Past Donor

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    Until they learn it can be used to avoid taxation, then you'll be able to hear the wailing in orbit.
     
    Last edited: Jan 10, 2018
  6. Pycckia

    Pycckia Well-Known Member

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    That's why they have computers.
     
  7. WillReadmore

    WillReadmore Well-Known Member

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    So, there is no way to find out who a particular account belongs to?

    Now, that would seem to be a substantial hole the drug lords and terrorists would surely appreciate!
     
  8. freakonature

    freakonature Well-Known Member

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    exactly
     
  9. Pycckia

    Pycckia Well-Known Member

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    No easy way. That is why drug sellers on the dark web used bitcoin. It is just like cash that you can move electronically in that respect. Less anonymous than cash, but not much.
     
  10. Longshot

    Longshot Well-Known Member

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  11. Longshot

    Longshot Well-Known Member

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    People will just switch to Monero. The jini is out of the bottle.
     
    Last edited: Jan 10, 2018
  12. WillReadmore

    WillReadmore Well-Known Member

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    When it comes to terrorism, drugs, etc., there are LOTS of ginis.

    The criminals are creating them all the time.

    Those who oppose terrorism and illegal drugs will just have to hone their tools for going after this style of attack.
     
  13. Longshot

    Longshot Well-Known Member

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    You realize that people other than terrorists and drug lords use cryptocurrency for perfectly peaceful purposes, right?
     
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  14. WillReadmore

    WillReadmore Well-Known Member

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    Yes - it's used for tax evasion and for currency speculation, too.

    I'll have to tell you, I really don't care about them at all.

    I DO care about terrorism, drug lords, tax evasion and other such crime.

    And, I don't really see bitcoin as an investment opportunity to protect. It's no more than a bubble creation technology. And, bubbles don't help mainline citizens - they do overall damage.

    I can't really find one good thing about bitcoin.

    So, I would be more than happy if it just got erased from existence at 8:00 am tomorrow morning throughout the entire world with zero warning.

    The Israelis (and US) pulled off stuxnet whereby a worm penetrated Iran's network protection and killed their centrifuges. Maybe we could hire those guys to help us penetrate and eliminate bitcoin from the face of the earth.
     
  15. xwsmithx

    xwsmithx Well-Known Member

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    As long as that government is up and running and paying its bills on time, and not inflating the supply of that paper money, it's fine. If the government fails (the Confederacy), stops paying its bills (WPPSS, aka Whoops), or starts inflating the money supply (the Weimar Republic, Venezuela, etc.), that paper won't be worth very much. A country that starts refusing to accept its own fiat currency for the payment of taxes is one that is already far down the road to ruin.
     
  16. Longshot

    Longshot Well-Known Member

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    Sounds like you shouldn't buy any bitcoin then. On the other hand, there are those who do want to use it, and they will continue to do so.
     
  17. WillReadmore

    WillReadmore Well-Known Member

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    True.

    If the government were to fail to honor dollars, I really doubt having your loot stashed in some secret bitcoin account would save you from the global collapse that would be in progress.
     
  18. WillReadmore

    WillReadmore Well-Known Member

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    I stated that, too. Terrorists, drug lords, currency speculators, tax evaders, money launderers, ...

    Lots will continue to use bitcoin, until they don't.
     
  19. Longshot

    Longshot Well-Known Member

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    And people who aren't any of those.
     
  20. WillReadmore

    WillReadmore Well-Known Member

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    I don't know who that would be.

    If they are innocents and aren't currency speculators, then they aren't likely to be too hurt by a sudden total evaporation of bitcoin that would prevent them from further mistakes.

    I'm serious. I don't see a value in having this kind of thing existing in the world. And, there are a number of clear problems with it as mentioned above.
     
  21. Maximatic

    Maximatic Well-Known Member

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    I wish I had your skin and the sufferance you exercise with raging statist control freaks.
     
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  22. Longshot

    Longshot Well-Known Member

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    Your concern for their well-being is noted.
    The jini is out of the bottle, and the government can't stand it. Poor government.
     
  23. Longshot

    Longshot Well-Known Member

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    They're something else, huh? What don't they want to control?
     
    Last edited: Jan 10, 2018
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  24. BillRM

    BillRM Well-Known Member

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    Let see bitcoin is an international mean of moving funds so you can and I had as a matter of fact used bitcoins to buy goods across the planet.

    Lot easier and cheaper then using the banking systems or any other means I am aware of.

    Next if you add tor and it hidden services and good luck in even the most powerful nations enforcing their wishes on individuals.
     
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  25. Longshot

    Longshot Well-Known Member

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    So which are you? A drug lord or a terrorist?
     

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