They might well hate them, but as they're not making any concerted efforts in this direction, I assume its just not important enough to justify the bother.
Why aren't the governments doing anything?
- Thread starter yangnw
- Start date
They might well hate them, but as they're not making any concerted efforts in this direction, I assume its just not important enough to justify the bother.
I
if someone's stupid enough to put any money they might need into bitcoin they probably were going to lose it in some other way if bitcoin didn't exist
heck with the 200x es intraday margin many brokers offer you can lose all your money in a matter of minutes
Well, the original e-gold ( way before bitcoin) was closed down eventually, but it took 13 years. Bitcoin is only 8 years old. India and China (1/3rd of the world's population) already banned cryptos from being used as legal tender, so yes, some countries did make the effort. China apparently cares a lot about capital controls.
More like your logic is(as usual)
Retailers can have as many anonymous accounts as they want to receive payments. It is essentialy the same thing as the old swiss number accounts, there was no way of knowing who owned it. The difference? These accounts were centralized in a banking institution, which made possible for governments such as the U.S. to have point to focus on, in order to steal that money eventually. Not the case with cryptos, as I said before, there is nobody to threat, lock up or even kill that would effectively have the same effect.
Who needs legal protection when holding money with third parties will be increasingly the exception and not the rule? As Ayn Rand wrote: "Civilization is the progress toward a society of privacy. The savage's whole existence is public, ruled by the laws of his tribe. Civilization is the process of setting man free from men."
And even these days, that legal protection is a very shitty one, Lehman Bothers and other examples of the kind are there to prove that. Just another illusion for idiots.
And confiscate computers, phones? There is no way that this can have an actual effect on usage of the coins. It's the same thing with drugs: the ban has almost zero effect, everyone that wants to buy marihuana or cocaine has access to it... The demand is too great and usage is simple... Never worked and never will. It was the same thing with alcohol in the 20's, but I guess people didn't learn that lesson. The difference with cryptos is that the types of people that are interested in it are effectively everyone and anyone, from 10-year-olds to 100-year-olds. That means that a ban will have even less effect than for drugs.
Oh boy, why God, oh why???
We will stop right here. Sure Walmart is going to go into the trouble and set up a secret bitcoin account just to sell me a Justin Bieber CD. Why the fuckaddy fuck would a mom and pop shop risk their business for the sake of getting an extra 5% of their sales? Makes no sense what so ever.
I stopped reading your nonsense after this, apologies if you actually made any good points later on...
Retailers can have as many anonymous accounts as they want to receive payments.
We will stop right here. Sure Walmart is going to go into the trouble and set up a secret bitcoin account just to sell me a Justin Bieber CD. Why the fuckaddy fuck would a mom and pop shop risk their business for the sake of getting an extra 5% of their sales? Makes no sense what so ever.
I stopped reading your nonsense after this, apologies if you actually made any good points later on...
No need to... I couldn't care less if you read it or not...
I'm just killing time here... I don't care about your nonsense too(or anyone else's)... Everything I talk about doesn't depend on anyone to happen, it's just logic, based on people's basic preference for themselves over everybody else... If idiots get the point or not is irrelevant(no ofense, I say this in a general way, even though I admit I consider you to be in that group).%%Seriously, dude, that's your argument for contagion? Okay, let's do some simple math.
- The market cap of bitcoin is about $270 yards, taking BTC at the current level.
- Let's say we have 5 percent of bitcoin owners that were stupid enough to mortgage their house to buy bitcoin (probably a gross overestimate)
- so we are talking 13 yards of exposure transferred to the American banks
- market cap of top 5 US banks is just about a trillion dollars
- so, in case of complete destruction of bitcoin, we are talking about about a 1% exposure to the equity value of the US banks
- yeah, that's going to take down the US economy
Good points. And Trader yangN, who says the gov did nothing?? SEC already said NO, NO how many time to bitCon ETF? LOL Besides, if some want to pay $8,000 for a pineapple, early trend price.....LOL; Ok by me. Those who want the gov to reg everything, move to Russia+ take your goose down jacket..... NOT a prediction but dont call an $8,000/+ pineapple an investment; James Dole put in pineapple plantations + guess what pineapple price did?? Actually,CME,Cboe may help price bitCoin better-not a prediction.
Seriously, dude, that's your argument for contagion? Okay, let's do some simple math.
- The market cap of bitcoin is about $270 yards, taking BTC at the current level.
- Let's say we have 5 percent of bitcoin owners that were stupid enough to mortgage their house to buy bitcoin (probably a gross overestimate)
- so we are talking 13 yards of exposure transferred to the American banks
- market cap of top 5 US banks is just about a trillion dollars
- so, in case of complete destruction of bitcoin, we are talking about about a 1% exposure to the equity value of the US banks
- yeah, that's going to take down the US economy
What are you these days? about 180 Yards? lol
communist propaganda on your part.