The State of Cryptocurrency

[moproblems99]

I think the big reason for a possible ban is because cryptocurrencies have been tied to various criminal organizations.

Goodness, it's a good thing those criminal agencies don't use the almighty dollar. I would hate to see what happens then.

 

[Space Lynx]

Goodness, it's a good thing those criminal agencies don't use the almighty dollar. I would hate to see what happens then.

Doesn't matter if the perception of those in power is that crypto is a bad thing. It doesn't matter what is truthful or not truthful, its a matter of a bunch of old white men are fearful of it not.

Welcome to politics.

 

[Mighty-Lu-Bu]

Goodness, it's a good thing those criminal agencies don't use the almighty dollar. I would hate to see what happens then.

I was being sarcastic

 

[moproblems99]

Doesn't matter if the perception of those in power is that crypto is a bad thing. It doesn't matter what is truthful or not truthful, its a matter of a bunch of old white men are fearful of it not.

Welcome to politics.

They aren't scared of it. They are trying to figure out how to get a piece of it. In public or behind closed doors.

Welcome to politics.

 

[R-T-B]

Are you guys sure bitcoin is dying? How did they get the invested for a 36 megawatt wind farm whose only goal is to mine bitcoin... hmmm im not bullish on bitcoin, but if the hyper and fever of it... could be nice to own one coin... you never know... its created its own little world of investors and people expecting a return, and those people are usually smarter than me. thoughts? at anyone but also @FordGT90Concept

https://arstechnica.com/information...gawatt-moroccan-wind-farm-for-bitcoin-mining/

I am speaking long term decades projection, and I'm sure someone will always be trading it. I just think it's "dead" technologically speaking.

Wouldn't be surprised if cyrpto mining in the next 18 months is banned in the U.S.

United States Congress is already performing a full investigation on cryptocurrencies and crypto mining- I think the big reason for a possible ban is because cryptocurrencies have been tied to various criminal organizations.

I'd be shocked if there is ever a blanket ban, frankly.

 

[Space Lynx]

They aren't scared of it. They are trying to figure out how to get a piece of it. In public or behind closed doors.

Welcome to politics.

you better hope they don't embrace it. if they embrace it then it loses its value. because then its all taxed and the IRS will gain access to every single exchange and account in the world with america registrations on them at least. the U.S. Government always gets it tax money, always.

 

[FordGT90Concept]

I'd be shocked if there is ever a blanket ban, frankly.

A blanket ban would be forbidding the operation of cryptocurrency exchanges in the USA. Americans would have to use foreign exchanges to digitally convert cryptocurrencies to legal tender.

 

[R-T-B]

A blanket ban would be forbidding the operation of cryptocurrency exchanges in the USA. Americans would have to use foreign exchanges to digitally convert cryptocurrencies to legal tender.

A blanket ban would be on what I quoted, actually. Mining and production and even holding the currency (hence my wording "blanket," covering all). And like I said, I doubt that'll ever happen. Heck, I find it implausible that your scenario will even happen.

 

[FordGT90Concept]

The only way I see complete criminalization happening is if anonymization is hindering a vast majority of criminal investigations. By that, I mean that people buying a cryptocurrency represents a reasonable suspicion that said person is involved in an allegedly criminal activity. Judges across the country would issue warrants to search those records but, in cryptocurrencies like Monero, there's no records to obtain. The cryptocurrency itself is considered obstructing justice; ergo, the only solution is to ban the cryptocurrency entirely. Possessing the cryptocurrency raises suspicion, just like possessing a burner phone. "What are you trying to hide?"

 

[Papahyooie]

Bonds are buying debt and gain money based on interest on said debt. Because the federal government is required to pay interest before anything else, they are the safest investment there is. Problem is the return on investment is low. If the bond is local though, you may benefit from whatever the bond was created for (e.g. building a community swimming pool).

And you think us crypto guys are buying funny money...

 

[hat]

Cold day today - I started running the otherwise abysmal CryptoNightV7 CPU miner to generate a little more heat...

 

[Space Lynx]

Cold day today - I started running the otherwise abysmal CryptoNightV7 CPU miner to generate a little more heat...

What coin are you mining?

 

[hat]

I use Nicehash, so basically whatever the Crypto gods see fit... usually I don't run the CPU miner at all because I get less than 10 cents/day out of it, but I am now just to load my CPU and produce some heat... however, now that it comes to mind, there are better things my CPU can be doing than mining a coin that might earn me a can of coke in 10 days...

GPU wise I ahve two 1070s still cruising, they usually dual mine DaggerHashimoto (ETH) and something else... Blake2s right now (no idea what that is).

 

[damian246]

Of course it can't and it's not only in blockchain. Terrorists and drug dealers and all the other bad people will always find ways in order to do their dark things.
Then we should block everything in order to save the world and it's impossible.

Imagine that would happen, 15 of the biggest economies ban and punish every kind of use of the blockchain. Swift would be happy for once.
The 15 Economies web retailers would be compelled to a.) go to a state where they are allowed to collect, or getting paid in BTC, ETH etc. [nice name for a new ICO? jejeje]
or plainly not accepting coins any more.

Most likely the rest of the 300+ countries will have a laugh and deal with the blockchain. Like it or not Blockchain is here to stay.
BTC although outdated is still the father of all, and should those front runners of ETH and XRP are listening they should hurry with convincing retailers to be acceptable more often.

 

[FordGT90Concept]

Fat chance of that last sentence happening. I wouldn't be surprised if less than one customer that walks into your average store on an average day holds cryptocurrency. Implementation cost wouldn't pay off. Then they have to deal with exchanges that aren't regulated and hope that the cryptocurrency they are now in possession of will, in fact, convert to the local currency at a rate that will settle the debt they were owed by the customer. BTC isn't has wild as it used to be but that risk is still there. Oh, and lets not forget the crazy fees the blockchain demands to process a transaction.

Retailers that know what blockchain is about no longer want anything to do with it. Or at least they won't unless the Federal Reserve and other regulatory bodies get involved.

 

[dorsetknob]

Most likely the rest of the 300+ countries will have a laugh and deal with the blockchain.

Sorry but you need more Research before you post ,until then anything you say is unbridled SPECULATION BECAUSE YOU MAKE AND POST ERRORS
There are 195 countries in the world today. This total comprises 193 countries that are member states of the United Nations and 2 countries that are non-member observer states: the Holy See and the State of Palestine.

 

[sepheronx]

There is also my country, the Peoples Republic of Sepheronomia

 

[OutThereSomewhere]

The only way I see complete criminalization happening is if anonymization is hindering a vast majority of criminal investigations. By that, I mean that people buying a cryptocurrency represents a reasonable suspicion that said person is involved in an allegedly criminal activity. Judges across the country would issue warrants to search those records but, in cryptocurrencies like Monero, there's no records to obtain. The cryptocurrency itself is considered obstructing justice; ergo, the only solution is to ban the cryptocurrency entirely. Possessing the cryptocurrency raises suspicion, just like possessing a burner phone. "What are you trying to hide?"

Isn't all double standards when it comes to light (Which it has on many occasions) that banks have been knowingly laundering money for decades.
Now if CC was legal tender issued by banks would we having this debate?

 

[FordGT90Concept]

Only governments can establish legal tender.

 

[OutThereSomewhere]

Only governments can establish legal tender.

I know, and this seems like another attempt at control because we've already seen and heard the words Cashless Society echoed by the banks over and over again.
So who's really afraid?

 

[FordGT90Concept]

No one? As far as the global economy is concerned, cryptocurrencies barely even register.

 

[OutThereSomewhere]

No one?

Really? So why the push to criminalize CC?, not to mention the push for a cashless society.

 

[FordGT90Concept]

Regulators aren't criminalizing cryptocurrencies. They're going after exchanges and businesses (e.g. Silk Road) that did illegal things. They're also putting out warnings about cryptocurrency being manipulative.

Push to cashless started with credit cards then debit cards decades ago. Also transaction clearinghouses. One can't send physical cash through electronic wires.

 

[damian246]

Sorry but you need more Research before you post ,until then anything you say is unbridled SPECULATION BECAUSE YOU MAKE AND POST ERRORS
There are 195 countries in the world today. This total comprises 193 countries that are member states of the United Nations and 2 countries that are non-member observer states: the Holy See and the State of Palestine.

It just was example what to imagine, did I mention this planet?
So the entire comments is worthless because one detail sticks out you don't like?

 

[Papahyooie]

Only governments can establish legal tender.

In other news, only liquid can make things wet.