The State of Cryptocurrency

[Deleted member 158293]

Did you just semantically differentiate between "government" and "central governing structure"? Lol

Absolutely, the IMF is the central governing financial structure for multiple governments.

 

[Space Lynx]

The irony of banning something designed for the explicit purpose of circumventing government...

to be fair this is why america is quite powerful in this regard, we have more spending power than any other nation state on earth by far, so if the IRS whispers in trumps ear someday to ban it from all marketplaces and ban all exchanges because of terrorist activity used with it (the IRS always gets what it wants and Trump will do as they say since they have been kind to him and his ilk) then bitcoin would fall in price. if bitcoin truly is just gold its value wouldn't be worth as much as most people like being able to spend their money, with bitcoin now you can spend at many places.

you can laugh all you want, but whatever currency buys my food and medicine and pays my rent will always remain dominant, you can use bitcoin for rent, for now. if that ever changes, bitcoin will plummet I think, the rest of the worlds spending power is pretty small compared to americas, its why China has to deal with trump on trade whether they like it or not, the other markets just won't pay as much money.

 

[R-T-B]

The irony of banning something designed for the explicit purpose of circumventing government...

Satoshi was the designer and he actually was pretty far from a crypto anarchist of today... he didn't like the illicit uses, etc. Even went on a brief rant when wikileaks started accepting bitcoin. Shortly after he vanished completely.

Weird to think back on. I really do think he left out of shame from his creations end product.

 

[Space Lynx]

Satoshi was the designer and he actually was pretty far from a crypto anarchist of today... he didn't like the illicit uses, etc. Even went on a brief rant when wikileaks started accepting bitcoin. Shortly after he vanished completely.

Weird to think back on. I really do think he left out of shame from his creations end product.

really he should be proud of Bitcoin though, since it can be traced. the only illicit coins really are Monero and Zcash etc and shady exchanges to turn those into Bitcoin, Bitcoin is really the fiat of the crypto world.

 

[trog100]

bitcoin cant be fiat.. fiat means value by dictat.. dont mix up the word fiat with legitimate..

there is also a limit to the amount of bitcoin that exists unlike fiat where banks and governments can create as much of the stuff as they like by issuing more and more low or negative interest debt..

trog

 

[Space Lynx]

bitcoin just went below 10k, lol. that whole hodl business, I don't know, I don't see world governments collapsing anytime soon, maybe in 20 years, so I hope y'all don't mine hodling for a long time...

also another Japan exchange hacked and 32 million dollars worth of BTC stolen... happens about every week now somewhere lol. yeah we know, use offline cold wallets, sadly if BTC is to grow, it will need a safe exchange.

 

[Papahyooie]

Absolutely, the IMF is the central governing financial structure for multiple governments.

Then it is, by definition, a government.

 

[FordGT90Concept]

IMF is like a global version of FDIC. Countries pay into it and other countries borrow against it. It's a slush fund to keep international payment systems liquid. It is not a government at all. Not even really like a bank. FDIC is the closest analog.

 

[Papahyooie]

IMF is like a global version of FDIC. Countries pay into it and other countries borrow against it. It's a slush fund to keep international payment systems liquid. It is not a government at all. Not even really like a bank. FDIC is the closest analog.

Then it's not a government, and not a central governing structure.

I don't particularly care whether it is or isn't a government, I'm just amused at him replying to me trying to differentiate between "government" and "central governing structure." That's not even arguing semantics, he's literally saying the same thing. A central governing structure IS a government. Whether the IMF is or is not that, I don't really care.

 

[trog100]

bitcoin just went below 10k, lol. that whole hodl business, I don't know, I don't see world governments collapsing anytime soon, maybe in 20 years, so I hope y'all don't mine hodling for a long time...

also another Japan exchange hacked and 32 million dollars worth of BTC stolen... happens about every week now somewhere lol. yeah we know, use offline cold wallets, sadly if BTC is to grow, it will need a safe exchange.

i think 10K was its bottom.. time for it to start going up again...

trog

 

[Deleted member 158293]

Be nice of it went below 10K again... good probability, we're will see...

 

[trog100]

Be nice of it went below 10K again... good probability, we're will see...

it could go lower but i dont think so..

trog

 

[ZenZimZaliben]

I sure hope the floor is 10k. However I have held mine for so long and been on the roller-coaster for so long that I don't really trust the floor. Nothing is for sure with BTC.

 

[Deleted member 158293]

Well, Canada just implemented virtual currency regulations. Guess bitcoin is officially legal there now.

 

[Space Lynx]

must be nice having money to invest. i guess if i majored in nursing or computer science i would know that feeling. sadly I was optimistic about humanity and decided to be a teacher instead. lulz. what an idiot i was.

 

[moproblems99]

must be nice having money to invest. i guess if i majored in nursing or computer science i would know that feeling. sadly I was optimistic about humanity and decided to be a teacher instead. lulz. what an idiot i was.

Truth.

 

[yotano211]

must be nice having money to invest. i guess if i majored in nursing or computer science i would know that feeling. sadly I was optimistic about humanity and decided to be a teacher instead. lulz. what an idiot i was.

My sister is a high school teacher and she has extra money to invest in. She lives within her means, and drives uber on the weekend for extra cash. Teachers dont get paid much for the type of education needed to become one but it's the benefits that matter more.

 

[Metroid]

This is all a huge trap, they have been doing this to accumulate alt coins and then when they raise the bar, alt coins will be all time high x 10 to 50 times, they has been doing this for years and years hehe

Pay attention to end july, mid august, crypto in general will be very pumped, September/October another high.

 

[FordGT90Concept]

Wall Street finds blockchain hard to tame after early euphoria

Two years ago Nasdaq Inc <NDAQ.O> and Citigroup Inc <C.N> announced a new blockchain system they said would make payments of private securities transactions more efficient. Nasdaq Chief Executive Adena Friedman called it "a milestone in the global financial sector."

www.reuters.com

NEW YORK (Reuters) - Two years ago Nasdaq Inc (NDAQ.O) and Citigroup Inc (C.N) announced a new blockchain system they said would make payments of private securities transactions more efficient. Nasdaq Chief Executive Adena Friedman called it “a milestone in the global financial sector.”

But the companies did not move forward with the project, a person familiar with it said, because while it worked in testing, the cost to fully adopt it outweighed the benefits.

But a review of 33 projects involving large companies announced over the past four years and interviews with more than a dozen executives involved with them show the technology has yet to deliver on its promise.

At least a dozen of these projects, which involve major banks, exchanges and technology firms, have not gone beyond the testing phase, the review shows. Those that have made it past that stage are yet to see extensive usage.

A survey of companies dabbling in blockchain:

Blockchain in the capital markets

Survey on the

fingfx.thomsonreuters.com

 

[trog100]

well i was wrong about 10k being the bottom.. bitcoin has just jumped off a cliff and taken a $1000 dollar dive.. its now at $9600 -ish..

trog

 

[dorsetknob]

well i was wrong about 10k being the bottom.. bitcoin has just jumped off a cliff and taken a $1000 dollar dive.. its now at $9600 -ish..

trog

Don't worry too much Smart Investors rivet 2 together to make a yo yo because They prefer Playing with a Proper Bitcoin yo yo

 

[FordGT90Concept]

Bitcoin tumbles as U.S. senators grill Facebook on crypto plans

The cryptocurrency market took a beating on Tuesday with bitcoin losing over 10% in value after U.S. lawmakers grilled Facebook on its cryptocurrency plans, as political and regulatory scrutiny of digital coins intensifies.

www.reuters.com

 

[Deleted member 158293]

Let's see how low we can go...

 

[Space Lynx]

Let's see how low we can go...

don't worry the corrupt chinese farmers who mined 60% of all bitcoin will make sure the price goes back, I am sure they have several fake accounts where they transfer millions back and forth all the time to build confidence in people at key locations. good ol' non regulated financial enterprises.

 

[TheoneandonlyMrK]

Satoshi was the designer and he actually was pretty far from a crypto anarchist of today... he didn't like the illicit uses, etc. Even went on a brief rant when wikileaks started accepting bitcoin. Shortly after he vanished completely.

Weird to think back on. I really do think he left out of shame from his creations end product.

I think he realised it's affect and didn't want to be blamed personally.