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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (168288)	2/9/2021 4:13:08 AM
From: sense	2 Recommendations Recommended By gg cox Haim R. Branisteanu Read Replies (1) \| Respond to of 218863

A serious answer... There's never been any expectation that bitcoin would be allowed to become anything more than an experiment... conducted at no risk to anyone other than those who opted in to participate. For now, it remains small enough to not represent a systemic risk... but that's not going to remain true very much longer... If the experiment is deemed to have worked... they'll adopt some crypto concepts or features... and apply them to "new" sovereign issued (ie, private central bank issued) currencies... and that's the end of it. And, like most things that are too good to be true... the reality enabled by the concepts when deployed "for real" will be the opposite of what is advertised now. Crypto, as adopted, will ensure that no transaction can be conducted anonymously... and since everything crypto can be tracked, with a record that cannot be erased... everything can be taxed... which is why they wanted to conduct the experiment... or, allowed it to proceed. Of course, if they do proceed that way... the economic impacts are likely to be devastating... as no one really knows, right now, how much global economic activity there is outside the "official" reporting... or what the consequences of ending it will be on the rest of the economy ? So, odds are... the plebes are forced to use the new crypto to impose big brothers oversight and to ensure taxes get paid... while the banks use gold as money to ensure they can continue to do what they do without any permanent record made that might hold them accountable... IMO... that's not going to save them... but, they don't seem to be on top of parsing the risks... The longer bitcoin survives... the more dangerous it becomes for them... and the more the risks and costs of miscalculations will grow... Everyone seems in agreement that "this can't go on much longer"... but, of course, no one seems to have come up with a viable, workable solution, either... other than reimposing fixed links to hard assets... gold, silver, oil, baskets of commodities, etc. Bitcoin... is the question... not the answer.

To: TobagoJack who wrote (168288)	2/9/2021 8:17:52 AM
From: Horgad	Read Replies (1) \| Respond to of 218863

"I conclude that 'THEY' are soooooooo going to crush BTC" Agreed, this has been my feeling for a long time. That as long as bitcoin stayed on the fringes as a fad and curiosity that it would be left alone, but that it would be destroyed if as soon as it started to become mainstream. But what I didn't imagine was that some of "THEY" would take significant states in bitcoin. Now it becomes "THEY" versus "THEY". The "THEY" on the one side includes the younger tech billionaires that control the new and most powerful communication channels and with them a massive, angry, army of younger generations. The "THEY" on the other side I imagine are the usual suspects including more than their fair share of stodgy, grumpy, money and power grabbing, tight fisted, old white men who have no qualms about using the nuke button if needed. This could get really messy as it plays out. What is going on in the US is not just a bitcoin versus dollar fight or a left versus right fight, but also a less talked about battle between generations. Eventually the younger generation always wins by endurance and the younger generation seems to want a bitcoin world or at least they think they want a bitcoin world. Meanwhile, heavy causalities in the near future seems likely. Or maybe not... <g>

To: TobagoJack who wrote (168288)	2/10/2021 11:36:36 AM
From: Horgad	Read Replies (1) \| Respond to of 218863

"What will they try against bitcoins ?" They already have laws on the books that they can conceivable leverage against bitcoin. Depending on how liberally they are interpreted. There is specific law written for metal coins, but also they would like to believe that having the power to coin money implies having the sole power... "Under 18 U.S. § 486, it's a criminal offense to make or pass any metal coins "intended for use as current money, whether in the resemblance of coins of the United States or of foreign countries, or of original design." This prohibition arguably applies to paper money as well. Article 1, section 8, clause 5 of the U.S. Constitution gives Congress the power to coin money and regulate its value. The Justice Department believes this gives the federal government the "concurrent power to restrain the circulation of [private] money." blogs.findlaw.com