Do you think the goverment can ban cryptocurrencies?

youtube.com/watch?v=3Q_hVx6MZao

Do you think the goverment can ban cryptocurrencies?

I'm from a spic shithole and my goverment already ban it, fuck.

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en.wikipedia.org/wiki/The_Denationalization_of_Money
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They can try, but they'll never stop me from engineering without a license! Eat shit government FUCKS!

yeah man, fuck the goverment.

you need to expand your horizon a little, man. fuck the system.

The government of any country can ban anything. So what? Doesn't mean they can enforce it

Money is a belief system. Today (it wasn't the case every time) the government is responsible to make this system secure, easily accessible, reliable and stable.

Bitcoin by design:
- is not reliable (branching is possible)
- is not trustworthy, not secure (banks require paper trails for everything, cash exchange is a paper trail in itself, but pure electronic currencies require a huge amount of trust in unknown entities)
- works only in theory, not for everyday users (it doesn't allow mistakes, verification and undo enforcing are not possible)
- is not private (every bitcoin transaction is visible to everyone, though other cryptocurrencies may solve this problem)
- doesn't scale at all (though other cryptocurrencies may solve this problem)

wonder ((who)) can be against the idea of citizens having control over their money.

Only if they can snuff it out in the crib. The larger the crypto black market gets, the harder it is to stop. It will eventually become self-sustainable if the need arises. If it seriously impacts the government's revenue stream, it's already too late to stop it.

It's ironic how perfect it was for Venezuela and yet mining crypto is still rare because of brown/blackouts and thieves and not the government itself, though certainly the government has busted people for it.

Almost all modern governments have an economic system that relies on controlling the currency supply. Since Bitcoin is impossible for a state to manipulate it, given that it's not printed, I doubt governments will ever use it. Although potentially a workaround is the government having an enormous supercomputer reserve which is throttled according to need, that would be an interesting development (especially with different superpowers waging hash wars with their respective computer clusters).

I think it's more likely that a Scandinavian, left-wing, technocratic country like Sweden or Denmark will create its own centralized Bitcoin, so they can vary the difficulty at will, and then push as a step towards cashless society. Would be fun to watch but probably not fun to live in.


I disagree.

In practice failures have been rare.

Isn't it the opposite? With cash exchange you have to record it to have a trail, but BTC transactions inherently generate a trail.

What do you mean? People have been using it for years, there's been businesses selling everyday crap like pizza, there would be more if adoption was wider.

Nigga just make a new wallet and send from there

It's infinitely divisible, what's the problem?

And how do you get BTC into that new wallet?

DENATIONALIZE MONEY AND FACE TO PROSPERITY
DENATIONALIZE MONEY AND FACE TO PROSPERITY
DENATIONALIZE MONEY AND FACE TO PROSPERITY
en.wikipedia.org/wiki/The_Denationalization_of_Money

People who got in on the ground floor are ordained eternal emperors of Mankind by divine right?

Exchange or OTC round trip.


That's a fair complaint. However how many people have held on to their original hoard?

China did ban bitcoin once few years ago, so yes. There's no real value in it anyway unless you believe the price could go to the moon.

I'm sorry to tell you, but "rare" is not enough many people.

With paper trail I meant PAPER trail. If there is an error in the software, who will be responsible for it? It is a proof (probably with your signature too) that you wanted to exchange the amount of money which was displayed you on the screen.So many threads have been made on Holla Forums for untrusted software and hardware, why would you suddenly put 100% trust in them right now?

One can afford to lose a pizza's price. The problem starts when millions of tired people want to use it every day with more than 1 digit values.

Not practical. This comment shows that you have never had enough money to require bookkeeping.

Yeah right. But transaction times are incredibly long (other cryptocurrencies may solve this problem), and the blockchain size is not practical. Now you may need gigabytes of network traffic to make 1 single transaction.

It is worth to read/listen the referenced critics too.

These are some major flaws with most of the cryptocurrencies. I'm not surprised that governments ban them.

Maybe shithole governments will. But here in Switzerland, the federal government isn't against it. In fact, the national railway company (owned by the gov.) sells Bitcoin at every ticket machine in the country. Effectively making Cryptocurrency easily accessible to every citizen.

Can you buy gold coins with BTC?

Yes. To go a step farther, Digix is working on an Ethereum based token that's backed by real gold in their reserve. Soon anybody will be able to buy, sell, trade, and audit (make appointments to check if your physical gold is really there) gold notes based on crypto coins in an "anonymous" and transparent way.
Hell a single Bitcoin is worth more then an ounce of gold right now and will only go up in price in the next few years. Japan already recognizes crypto coins as a real currency and many of their businesses are going to start accepting them this summer.

Your gubmint probably banned cocaine as well but I guess it did not work out in the end that much.
When the ban on cash comes, crypto will go stratospheric

WAT?

What if currency was backed by Bitcoin instead of FIAT and Gold? Perhaps this belongs on Holla Forums but I wonder what Holla Forums's opinion is.

That would be kind of silly. You can trade buttcoin IRL so I don't know why you'd want to bother with a secondary currency.