The Bitcoin Thread

Dead cat bounce right now.

 

These people really need a new playbook, same old demonization tactics

“In areas like cryptocurrencies, like Bitcoin, we should be looking at these very seriously,” May said in a television interview in Davos with Bloomberg’s Editor-in-Chief John Micklethwait. Action on crypto-currencies may be needed “precisely because of the way they are used, particularly by criminals,” she said.

https://www.bloomberg.com/news/arti...will-look-very-seriously-at-action-on-bitcoin

 

I’d take this as a good sign. When the state tries to legislate it’s because it feels threatened. If they feel threatened it’s because they see crypto currency as a credible replacement for what they offer. They can try to legislate and regulate all they want. The government can’t stop an idea whose time has come. Look how well the state does in stopping drug use for instance.

 

Hmmmmm ... I guess that you were replying to one of the two posts before yours... Which one, though? The idiocy of the Bloomberg quote or the valid points that SGVrider posited?

 

400 million disappeared today...

https://arstechnica.com/information...make-off-with-over-400m-worth-of-blockchange/

 

Or the potential for criminal use? Not everything is a conspiracy.

 

That’s why you don’t keep your junk on an exchange. Hardware wallet

 

Well shit let me run out and get all money in cash so I can stick in a mattress.

 

Nah, don't do that Kenny. I've got some ins at MCI, they're solid as a rock.

 

You do know crypto doesn’t gain interest right? So whether it’s in a mattress, written in a piece of paper, or stored on an online exchange, it’s all pretty much the same.

 

I think his point is that with a metric shit ton of cash in his mattress his wealth isn't a glitch, hack or "Do you really want to delete this" away.

 

It being useful for criminals pretty much acknowledges the fact that it’s largely outside state control. Crime by definition is breaking the laws of the government. So by helping criminals, isn’t it by definition reducing the power of the government? If crypto currency helps rationalize our failed drug prohibition policies by making it an even more dismal uncontrollable mess such that the state gives up on it, all the better. If it reduces the power of the state to generate currency out of thin air through monetary policy, all the better.

 

https://www.theregister.co.uk/2019/02/05/cryptocoin_exchange_legal_ruling_quadrigacx/

190million poof! LOL buy crypto all the commercials say. Of course the people that depend 100% on a debit card are open to the same lockout. A bit more over sight but still up the creek if a disaster occurs such as the tornado storm that happened here in 2011