Posted on 03/08/2022 5:59:42 PM PST by delta7
If it becomes a ten year felony to conduct any crypto transfers without filling out mandatory USG / IRS forms...
And the feds start conducting stings, and putting people in prison...
Then what? Fly to Paraguay?
An interesting stroll down memory lane - but in the United States, since 1788, "money" exists because of the power of Congress to coin it, regulate its value, and to borrow money on the credit of the united States, as well as the authority of Congress to punish counterfeiting.
These powers are not in any sense tyrannical. They exist for the benefit of the people.
And they certainly encompass the authority to do away with so-called "cryptocurrency", at least as far as possessors may claim a value in dollars.
If cryptocurrencies can protect against governments seizing or freezing accounts or civil and criminal asset forfeiture by police state agencies, their value will be enormous.
But the other side of the equation is still whether it will be universally accepted by the public.
Fidelity is including it in their balanced fund.
I doubt that Fidelity is going to let Liz Warren get away with screwing them.
Once the Feds set the rules, Bitcoin will take off.
You know what ends crypto? An EMP.
—————
Or just a plain power outage to ruin your day.
No government will kill cryptocurrency.
Quantum computing will.
But not government.
The smallest unit of change in price for stocks for example is typically a penny. For fiat currencies kept stable by major banks it is typical what currency traders call a "factional pip" which is 1000th of a penny.
When one "goes long" on a stock they are also at the same time "going short" on the currency they hand over to purchase the stock. And when they "go short" on the stock they conversely "go long" on the currency. But nobody ever really bothers all that much about the second part because the stocks vary so much more in price than the fiat currency.
More so in every day purchasing power. Would you wish to work for a wage of X amount of stock not knowing how the stock's value will vary from day to day? Have stores trade in something varying like that?
Again, I really hope they try to stop it. It will create a few hundred thousand UnaBombers, and many like me who just move to another, more serious, less pathetic country.
Martin Armstrong has been proven to be dishonest and irresponsible. In other news, Elon Musk has positive things to say about digital currency and says it is one way he can avoid massive taxes.
No, one can use the same quantum technology to develop encryption algorithms that are similarly effective as public-key encryption is today.
Agree. And the Ruskies could have joined up and played ball. They didn’t want to, then attacked. They want the natural resources and the access to the Black Sea. Period.
Exactly. Once digital currency is the norm, a crypto currency that cannot be easily converted to another widely accepted digital currency (like the Digital Dollar or whatever crypto replaces the Euro, Chinese Yuan or the Yen) will be worthless to most people. If you can't use it to pay your rent/mortgage, buy groceries or a car, it will be worthless to most people. It would be like trying to live with gold as your currency in a crypto world. Imagine the value of gold if it couldn't be converted to dollars.
Gold still held value from 1933 to 1974, no? Even tho it was illegal to hold any gold or convert it to $’s.
Ill take the other side of that bet, at least for now
No, it didn't. Gold fell steadily and rapidly from '34 to 1971, even adjusted for inflation. The spike in 71 was from decoupling from the dollar. And that was a precious metal that holds global value, not digital currency that has no intrinsic value. For most people, what good is a digital currency that is only good on the black market?
I think gold had a fixed steady price from 1933 to the 70’s due to government edict. “Intrinsic value”...do the VISA/MC networks have intrinsic value? Does PayPal have intrinsic value? These are useful/”valuable” networks to move $’s around. BTC is the decentralized version of these. A “shared immutable correct ledger” (blockchain technology) has use cases resulting in “intrinsic value”. That said I was interested in BTC “early” (early 2011’ish/BTC @ $1.25 & “mineable” on a CPU/graphics card then) so it was/is a no-brainer for me value wise. Holding USD is a sure loser with inflation/low interest rates so commodities like gold/silver/.22LR/TP, etc. are the way to go. Mix in some crypto so you can send value/”money” to family/friends in faraway places w/o having to ship gold or TP! ;-)
https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart
Putin has been quietly moving their wealth out of the Feds fiat money and backing it with Gold.
That’s obviously not going to happen. Firstly, no single government can. Not even the US + the EU could. Crypto is global. Secondly, too many institutions have already taken sizable positions in crypto. They would never allow the government to do something so foolish as to try to ban cryptocurrencies. The various crypto projects and the blockchain technology behind them are the future. There are a ton of different applications the various projects have and major businesses like Banks and tech companies and even massive retailers like Amazon and Wal-Mart are jumping in.
“VPN”
Don’t the VPN people know where your traffic is really going?
None of that really matters. All that matters is that the technology now exists for governments to exert absolute economic control, and since that technology exists, and governments behave according to predictable rules, they will abuse it. It’s guaranteed.
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