Bitcoin pounded again

clacy said:
Like I've said in other threads, anyone that thinks the major world governments are going to give up the power that comes with their printing presses have a poor grasp on how government and politics work.

95% of what a US Congressman or Executive Branch member does is related to controlling and distributing how money that is printed by the US Treasury.

All they have to do is label these crypto currencies as criminal money laundering schemes or banking for terrorists and it's all over for them.

That will happen if these things ever become even remotely main stream, which is what it would take to bid up the price to where most BTC lovers think it's headed.
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Well, I've said in other threads that Innovation is the leading force. Innovation brings progress and wealth, and this is very well known by governments, especially the USA government. Just Google "Bit License" and learn where New York is working on, to fully legalize and promote crypto-currency Innovations. This will bring Bitcoin to a mean-stream level, and other countries will follow.
 
Hoi said:
Well, I've said in other threads that Innovation is the leading force. Innovation brings progress and wealth, and this is very well known by governments, especially the USA government. Just Google "Bit License" and learn where New York is working on, to fully legalize and promote crypto-currency Innovations. This will bring Bitcoin to a mean-stream level, and other countries will follow.
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When has the US Government really favored innovation over regulation that keeps their strangle hold on power? You and I could probably come up with 30 examples of innovation that would be good for the US/world, that the government has regulated out of reality.

NY State is nice, but they don't have a printing press. I would argue that the US military and the US Treasury are the two most powerful forces on the planet. People in power don't give up power easily. You could throw the banking industry into the mix as well. They will provide the lobby money to get Congress to "look into it" more heavily.

You will see many more "studies" by fed banks in major countries. Then you will see legislative briefings on the dangers of crypto currencies. Then the Politicians will start to talk about it in the media about how "they're going to help you by regulating it".... you know the line "I'm from the government, and I'm here to help".
 
clacy said:
When has the US Government really favored innovation over regulation that keeps their strangle hold on power? You and I could probably come up with 30 examples of innovation that would be good for the US/world, that the government has regulated out of reality.

NY State is nice, but they don't have a printing press. I would argue that the US military and the US Treasury are the two most powerful forces on the planet. People in power don't give up power easily. You could throw the banking industry into the mix as well. They will provide the lobby money to get Congress to "look into it" more heavily.

You will see many more "studies" by fed banks in major countries. Then you will see legislative briefings on the dangers of crypto currencies. Then the Politicians will start to talk about it in the media about how "they're going to help you by regulating it".... you know the line "I'm from the government, and I'm here to help".
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Valid points indeed.... Still it would be much better for US Government to embrace Bitcoin, otherwise it will go underground and become a real unstoppable threat (and they know that, so better not to push it that way).
 
Warren buffett 5 key investment tips:

#5. Don't put your money into bitcoins for the long run.

"It's not a currency. It does not meet the test of a currency. I wouldn't be surprised if it's not around in 10 or 20 years. ... It is not a durable means of exchange. It's not a store of value. ... It's been a speculative—a very speculative—kind of Buck Rogers-type thing, and people buy and sell them because they hope they go up or down just like they did with tulip bulbs a long time ago."
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oh snap!

meanwhile....bitcoin back to $670-$700, 20% gap up today
 
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