Page 15 of 26
Re: bitcoin keeps climbing, normies get involved.
Posted: Wed Feb 21, 2018 6:38 am
by mad bum
Poonoo wrote: ↑Wed Feb 21, 2018 12:47 am
If you put money in when it was at $1000 then you probably give no fucks since it will never dip that low again.
Those are the con men who hype the shit out of it online to try and keep there investment going since they are legit relying on it for retirement.
Honestly if it ever gets back up to where it was before it dropped then these people need to just settle for a nice car instead.
Re: bitcoin keeps climbing, normies get involved.
Posted: Wed Feb 21, 2018 3:24 pm
by veris leta facies
Poonoo wrote: ↑Wed Feb 21, 2018 12:47 am
A lot of people are claiming that by the end of the year it will skyrocket again, but you really have to wait to find out what governments are going to do about cryptos.
What can they really do? How to ban a decentralized, blockchain-based virtual currency which is not linked to any financial institution? The blockchain doesn't require any institution to operate it. Governments can enforce laws that make holding cryptos illegal and they can shut down exchanges but that's it. Cryptos will not vanish anywhere, there are no way to get access to holders' public keys and people will still keep using them. If governments could stop a peer to peer network, there wouldn't be illegal torrent websites or the dark web. Taking down the whole interweb is the only way govs can stop cryptos, it would have to be a global endeavor. Cryptocurrencies are here to stay. South Korea's or Shitrael's puny attempts to ban cryptos will be futile.
https://www.forbes.com/sites/forbesprod ... cbfd3d20cc
Re: bitcoin keeps climbing, normies get involved.
Posted: Wed Feb 21, 2018 3:35 pm
by Kugelfisch
Fairly simple, actually. Make it illegal to buy something with or accept them as payment. It won't vanish but you won't be able to buy a car with it either. For the rest there are money laundering laws and tax evasion laws.
It's not killable but it can get forced into such a niche so as to never rise to a legit method of payment.
Re: bitcoin keeps climbing, normies get involved.
Posted: Wed Feb 21, 2018 4:35 pm
by veris leta facies
No it's not simple at all. If it would be so simple cryptos would've been banned years ago as they pose a threat to banks. There is a demand for cryptocurrencies. Banning them will remove that demand as efficiently as banning drugs have removed peoples demand for them. Cryptobusinesses going underground wouldn't be nearly anyone's interest, there will always be countries without bans, dark web services, loopholes etc. Besides, there's so much money in this and the biggest crypto players have such an immense political power they will never let it happen.
Re: bitcoin keeps climbing, normies get involved.
Posted: Wed Feb 21, 2018 5:35 pm
by Kugelfisch
I'll start believing that when I can buy shit with it in a super market or pay my rent with it. Before that happens it's nothing but drug money and investment bullshittery.
Re: bitcoin keeps climbing, normies get involved.
Posted: Wed Feb 21, 2018 6:38 pm
by rabidtictac
The "demand" for it is exactly what kugel said: drug money and speculative investment.
Re: bitcoin keeps climbing, normies get involved.
Posted: Wed Feb 21, 2018 7:17 pm
by veris leta facies
Don't forget gunrunning, human trafficking, snuff film industry etc. Good business is where you find it.
Re: bitcoin keeps climbing, normies get involved.
Posted: Wed Feb 21, 2018 9:24 pm
by Poonoo
veris leta facies wrote: ↑Wed Feb 21, 2018 3:24 pm
Poonoo wrote: ↑Wed Feb 21, 2018 12:47 am
A lot of people are claiming that by the end of the year it will skyrocket again, but you really have to wait to find out what governments are going to do about cryptos.
What can they really do? How to ban a decentralized, blockchain-based virtual currency which is not linked to any financial institution? The blockchain doesn't require any institution to operate it. Governments can enforce laws that make holding cryptos illegal and they can shut down exchanges but that's it. Cryptos will not vanish anywhere, there are no way to get access to holders' public keys and people will still keep using them. If governments could stop a peer to peer network, there wouldn't be illegal torrent websites or the dark web. Taking down the whole interweb is the only way govs can stop cryptos, it would have to be a global endeavor. Cryptocurrencies are here to stay. South Korea's or Shitrael's puny attempts to ban cryptos will be futile.
https://www.forbes.com/sites/forbesprod ... cbfd3d20cc
Banning two people exchanging Bitcoins is futile. Banning people from buying it with your real money though is certainly possible, that is what I am talking about. Banks would be more than happy to block payments to someone buying them so new people can't get in, sending someone cash to do that is very difficult if it is more than a few hundred dollars.
Re: bitcoin keeps climbing, normies get involved.
Posted: Sun Feb 25, 2018 4:42 pm
by MegaNigger
My buddy, who is in tech, and makes 65k a year and a superbly high IQ, shocked me by saying "dude, bitcoin will hit 25k by this summer!".
And just like that I wonder how he ever got through school...
Re: bitcoin keeps climbing, normies get involved.
Posted: Sun Feb 25, 2018 5:16 pm
by VoiceOfReasonPast
You don't have to be dumb to be stupid.