Big Crash coming - page 27. | Bitcointalksearch.org

tee-rex

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Quote from: STT on November 19, 2016, 08:40:26 PM

Quote from: tee-rex on November 17, 2016, 05:34:24 AM

Central banks all over the world have been controlling the national fiat currencies since the very inception of fiat (the term itself is telling a lot about this). And this control coexisted pretty well along with capitalism in most developed countries for many decades if not centuries. Also, why would the government allow anyone to mine the national cryptocurrency but their citizens exclusively?

For me, it is like being a public employee in Finland and demand payment in American dollars.

Almost every government allows foreigners to earn their currency. I can tender for government contracts from Finland even if I live the other side of the world, they want the best product available

But I was not talking about foreigners earning national currency. Public sector employees which are hired by the government are expected to get their salaries in the national currency. I don't mean diplomats or people that work abroad. If you still don't get my point, think about one government trying to issue another government's money without the explicit consent of the latter. This money would be unreservedly and invariably declared as counterfeit.

In fact, such attempts at printing foreign currency did happen in history before, and the outcome was quite predictable.

STT

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Quote from: tee-rex on November 17, 2016, 05:34:24 AM

Central banks all over the world have been controlling the national fiat currencies since the very inception of fiat (the term itself is telling a lot about this). And this control coexisted pretty well along with capitalism in most developed countries for many decades if not centuries. Also, why would the government allow anyone to mine the national cryptocurrency but their citizens exclusively?

For me, it is like being a public employee in Finland and demand payment in American dollars.

Almost every government allows foreigners to earn their currency. I can tender for government contracts from Finland even if I live the other side of the world, they want the best product available.
To only allow mining within the citizens of one country is a different policy, its been a long time since we excluded free trade like that. Long ago it was acknowledged that its better to allow each nation or set of peoples to find the best price and product to provide to the rest of the world. It was outlined as comparative advantage a couple centuries back, free trade was denied in the 1930's within the USA leading to very harsh trading but Im not sure thats acknowledged. I presume similar negatives would happen now for any force applied by government vs the normal liberty and freedom most western nations are accustomed to

pacifista

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Where is it? Im waiting for the big crash youve been saying,all i see is green and going up into sky. Hope it will go further until the next year. Grin

tyz

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I agree with you, with a restriction. I thought the Brexit could come. Just as I thought Trump could win the election. But I do not believe LePen will win in France next year. She will be in the second round of election, but then she will be defeated.

Quote from: deisik on November 14, 2016, 01:36:22 PM

Quote from: tyz on November 14, 2016, 12:07:10 PM

... and do not forget the popular elections in Italy on December 4th. This could be the beginning of a new Euro crisis, as the current polls predict a victory of Euro sceptics and enemies.

Next presidential elections in France will certainly turn out more interesting and by far more important for the future of Europe. Just imagine Marine Le Pen as the future president of France and you will understand that Trump's triumph over Clinton is in fact a minor event not worthy of a blurb in the morning news (not even speaking of the elections in Italy in half a month)...

And that will be the end of the eurocrisis (though you may not like it) or even Europe as we know it

achow102

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Quote from: yayayo on November 17, 2016, 10:56:13 AM

Quote from: kotwica666 on November 17, 2016, 10:35:29 AM

[...]

That is why this idea (national cryptocurrency) is completely irrational. I think that the Chinese want to create competition for Bitcoin .. something like a competition between the USD - EUR - CNY
Maybe one more time analogy is not correct, but i can not find better.

It's irrational not only because of requiring mining restrictions. It's irrational, because it removes the most important advantages of cryptocurrency: decentralization and capital flow across borders. Without these features, you don't need a blockchain - you can just ask PayPal to deploy a newly branded version of its service for you. Much cheaper and much more efficient.

We already had various hilarious altcoin (scams) that used the idiotic countrycoin-concept. All of them failed.

Of course, central banks have serious problems with just endorsing Bitcoin, because it would mean that they have become dispensable. So central bankers continue to vigorously defend against feelings of cognitive dissonance and waste a lot of money in the process... Cheesy

ya.ya.yo!

I believe that China is likely to try to run a national cryptocurrency to distract people from Bitcoin. How much it will be successful, I do not know, but probably not long survive

yayayo

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Quote from: kotwica666 on November 17, 2016, 10:35:29 AM

[...]

That is why this idea (national cryptocurrency) is completely irrational. I think that the Chinese want to create competition for Bitcoin .. something like a competition between the USD - EUR - CNY
Maybe one more time analogy is not correct, but i can not find better.

It's irrational not only because of requiring mining restrictions. It's irrational, because it removes the most important advantages of cryptocurrency: decentralization and capital flow across borders. Without these features, you don't need a blockchain - you can just ask PayPal to deploy a newly branded version of its service for you. Much cheaper and much more efficient.

We already had various hilarious altcoin (scams) that used the idiotic countrycoin-concept. All of them failed.

Of course, central banks have serious problems with just endorsing Bitcoin, because it would mean that they have become dispensable. So central bankers continue to vigorously defend against feelings of cognitive dissonance and waste a lot of money in the process... Cheesy

ya.ya.yo!

Rinder

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Quote from: kotwica666 on November 17, 2016, 10:35:29 AM

Quote from: tee-rex on November 17, 2016, 10:26:17 AM

Quote from: kotwica666 on November 17, 2016, 10:01:26 AM

Quote from: pitham1 on November 17, 2016, 09:53:32 AM

Quote from: tee-rex on November 17, 2016, 05:34:24 AM

Quote from: STT on November 16, 2016, 05:44:39 PM

Quote

Obviously, the government would allow mining only for the citizens of the country

That seems to immediately raise problems, central control of a currency is not capitalism. If they only allow certain people to mine it to exclude competition they'll have to put effort, time and money costs into suppressing people trying to make money. Doesnt seem like a path to success to me.

Central banks all over the world have been controlling the national fiat currencies since the very inception of fiat (the term itself is telling a lot about this). And this control coexisted pretty well along with capitalism in most developed countries for many decades if not centuries. Also, why would the government allow anyone to mine the national cryptocurrency but their citizens exclusively?

For me, it is like being a public employee in Finland and demand payment in American dollars.

Government may not like citizens of other countries mining a national crypto, but is there any fool proof way to prevent it?
We are all equal in the online world.

Why the government could / would not allow citizens of other countries mining national cryptocurrency?
It is as if the government wanted to prohibit the use of their currency outside their country. It is just impossible.

This is a wrong analogy for obvious reasons. The question is about mining currency, not using it. Regarding why they wouldn't want to allow citizens of other countries mining their national crypto, I don't think that any government would be really happy if another government decided to issue the national currency of the first government. That would be counterfeiting.

That is why this idea (national cryptocurrency) is completely irrational. I think that the Chinese want to create competition for Bitcoin .. something like a competition between the USD - EUR - CNY
Maybe one more time analogy is not correct, but i can not find better.

Well chineses are well know and they are allowing bitcoins miners to use their energy, giving a boost to local companies, if they wanna to make something like bitcoin, it may turn into a sucess as long they dont mine above 20-30% of the new coins for themselfes. I dont know how sucessful it could be even if they make a copy of bitcoin, community must choose to support or use as pump and dump as others altcoins.

calkob

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HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA Cheesy

kotwica666

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Quote from: tee-rex on November 17, 2016, 10:26:17 AM

Quote from: kotwica666 on November 17, 2016, 10:01:26 AM

Quote from: pitham1 on November 17, 2016, 09:53:32 AM

Quote from: tee-rex on November 17, 2016, 05:34:24 AM

Quote from: STT on November 16, 2016, 05:44:39 PM

Quote

Obviously, the government would allow mining only for the citizens of the country

That seems to immediately raise problems, central control of a currency is not capitalism. If they only allow certain people to mine it to exclude competition they'll have to put effort, time and money costs into suppressing people trying to make money. Doesnt seem like a path to success to me.

Central banks all over the world have been controlling the national fiat currencies since the very inception of fiat (the term itself is telling a lot about this). And this control coexisted pretty well along with capitalism in most developed countries for many decades if not centuries. Also, why would the government allow anyone to mine the national cryptocurrency but their citizens exclusively?

For me, it is like being a public employee in Finland and demand payment in American dollars.

Government may not like citizens of other countries mining a national crypto, but is there any fool proof way to prevent it?
We are all equal in the online world.

Why the government could / would not allow citizens of other countries mining national cryptocurrency?
It is as if the government wanted to prohibit the use of their currency outside their country. It is just impossible.

This is a wrong analogy for obvious reasons. The question is about mining currency, not using it. Regarding why they wouldn't want to allow citizens of other countries mining their national crypto, I don't think that any government would be really happy if another government decided to issue the national currency of the first government. That would be counterfeiting.

That is why this idea (national cryptocurrency) is completely irrational. I think that the Chinese want to create competition for Bitcoin .. something like a competition between the USD - EUR - CNY
Maybe one more time analogy is not correct, but i can not find better.

tee-rex

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Activity: 742

Merit: 526

Quote from: kotwica666 on November 17, 2016, 10:01:26 AM

Quote from: pitham1 on November 17, 2016, 09:53:32 AM

Quote from: tee-rex on November 17, 2016, 05:34:24 AM

Quote from: STT on November 16, 2016, 05:44:39 PM

Quote

Obviously, the government would allow mining only for the citizens of the country

That seems to immediately raise problems, central control of a currency is not capitalism. If they only allow certain people to mine it to exclude competition they'll have to put effort, time and money costs into suppressing people trying to make money. Doesnt seem like a path to success to me.

Central banks all over the world have been controlling the national fiat currencies since the very inception of fiat (the term itself is telling a lot about this). And this control coexisted pretty well along with capitalism in most developed countries for many decades if not centuries. Also, why would the government allow anyone to mine the national cryptocurrency but their citizens exclusively?

For me, it is like being a public employee in Finland and demand payment in American dollars.

Government may not like citizens of other countries mining a national crypto, but is there any fool proof way to prevent it?
We are all equal in the online world.

Why the government could / would not allow citizens of other countries mining national cryptocurrency?
It is as if the government wanted to prohibit the use of their currency outside their country. It is just impossible.

This is a wrong analogy for obvious reasons. The question is about mining currency, not using it. Regarding why they wouldn't want to allow citizens of other countries mining their national crypto, I don't think that any government would be really happy if another government decided to issue the national currency of the first government. That would be counterfeiting.

BrewMaster

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There is trouble abrewing

Quote from: kotwica666 on November 17, 2016, 10:01:26 AM

Quote from: pitham1 on November 17, 2016, 09:53:32 AM

Quote from: tee-rex on November 17, 2016, 05:34:24 AM

Quote from: STT on November 16, 2016, 05:44:39 PM

Quote

Obviously, the government would allow mining only for the citizens of the country

That seems to immediately raise problems, central control of a currency is not capitalism. If they only allow certain people to mine it to exclude competition they'll have to put effort, time and money costs into suppressing people trying to make money. Doesnt seem like a path to success to me.

Central banks all over the world have been controlling the national fiat currencies since the very inception of fiat (the term itself is telling a lot about this). And this control coexisted pretty well along with capitalism in most developed countries for many decades if not centuries. Also, why would the government allow anyone to mine the national cryptocurrency but their citizens exclusively?

For me, it is like being a public employee in Finland and demand payment in American dollars.

Government may not like citizens of other countries mining a national crypto, but is there any fool proof way to prevent it?
We are all equal in the online world.

Why the government could / would not allow citizens of other countries mining national cryptocurrency?
It is as if the government wanted to prohibit the use of their currency outside their country. It is just impossible.

As you write - online world has its own rules

the idea of the national cryptocurrency and restricting an altcoin to one country is a wrong idea which will never happen and even if it happens a government issued altcoin is the worst kind of altcoin that anybody could hope for and because of this nobody will ever touch it not even inside the country itself.

kotwica666

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Quote from: pitham1 on November 17, 2016, 09:53:32 AM

Quote from: tee-rex on November 17, 2016, 05:34:24 AM

Quote from: STT on November 16, 2016, 05:44:39 PM

Quote

Obviously, the government would allow mining only for the citizens of the country

That seems to immediately raise problems, central control of a currency is not capitalism. If they only allow certain people to mine it to exclude competition they'll have to put effort, time and money costs into suppressing people trying to make money. Doesnt seem like a path to success to me.

Central banks all over the world have been controlling the national fiat currencies since the very inception of fiat (the term itself is telling a lot about this). And this control coexisted pretty well along with capitalism in most developed countries for many decades if not centuries. Also, why would the government allow anyone to mine the national cryptocurrency but their citizens exclusively?

For me, it is like being a public employee in Finland and demand payment in American dollars.

Government may not like citizens of other countries mining a national crypto, but is there any fool proof way to prevent it?
We are all equal in the online world.

Why the government could / would not allow citizens of other countries mining national cryptocurrency?
It is as if the government wanted to prohibit the use of their currency outside their country. It is just impossible.

As you write - online world has its own rules

pitham1

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Quote from: tee-rex on November 17, 2016, 05:34:24 AM

Quote from: STT on November 16, 2016, 05:44:39 PM

Quote

Obviously, the government would allow mining only for the citizens of the country

That seems to immediately raise problems, central control of a currency is not capitalism. If they only allow certain people to mine it to exclude competition they'll have to put effort, time and money costs into suppressing people trying to make money. Doesnt seem like a path to success to me.

Central banks all over the world have been controlling the national fiat currencies since the very inception of fiat (the term itself is telling a lot about this). And this control coexisted pretty well along with capitalism in most developed countries for many decades if not centuries. Also, why would the government allow anyone to mine the national cryptocurrency but their citizens exclusively?

For me, it is like being a public employee in Finland and demand payment in American dollars.

Government may not like citizens of other countries mining a national crypto, but is there any fool proof way to prevent it?
We are all equal in the online world.

sunsilk

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Quote from: genos on November 17, 2016, 07:34:02 AM

Quote from: abs350 on January 01, 2016, 10:15:43 AM

Just to let you guys know a big crash is coming in 2016 in the economy. There is going to be a huge financial crisis but it will be worse than 2009.

The bitcoin price will skyrocket to over $10,000. However bitcoin will be banned in all western countries. If you are reading this living in the west you should make preparations to move to Russia or China they are the only places you will be safe owning bitcoins.

The crisis will be so big it will destroy entire countries and in 2017 there will be a civil war in the USA, UK and western europe. After this the world will never be the same again it will change so much by 2020 it will be unrecognizable compared to today.

I think you do not have to worry. Although litle bit scary to use bitcoin after banned but you still can convert it into fiat. Government banned bitcoin becouse they can not control it. You do not have to move from your country, I really sure that all people in the world will leave fiat. Some country like yunani and venezuela was tried to use digital money like bitcoin, but they create their own digital money.

That prediction is some kind of conspiracy. Why it is will be between in those three countries only?

And if that will happen then for sure China and Russia will have the most wealthiest economy. That will startled the world war III, I guess.

genos

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Activity: 574

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Any store can buy, sell, and accept Crypto

Quote from: abs350 on January 01, 2016, 10:15:43 AM

Just to let you guys know a big crash is coming in 2016 in the economy. There is going to be a huge financial crisis but it will be worse than 2009.

The bitcoin price will skyrocket to over $10,000. However bitcoin will be banned in all western countries. If you are reading this living in the west you should make preparations to move to Russia or China they are the only places you will be safe owning bitcoins.

The crisis will be so big it will destroy entire countries and in 2017 there will be a civil war in the USA, UK and western europe. After this the world will never be the same again it will change so much by 2020 it will be unrecognizable compared to today.

I think you do not have to worry. Although litle bit scary to use bitcoin after banned but you still can convert it into fiat. Government banned bitcoin becouse they can not control it. You do not have to move from your country, I really sure that all people in the world will leave fiat. Some country like yunani and venezuela was tried to use digital money like bitcoin, but they create their own digital money.

tee-rex

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Activity: 742

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Quote from: STT on November 16, 2016, 05:44:39 PM

Quote

Obviously, the government would allow mining only for the citizens of the country

That seems to immediately raise problems, central control of a currency is not capitalism. If they only allow certain people to mine it to exclude competition they'll have to put effort, time and money costs into suppressing people trying to make money. Doesnt seem like a path to success to me.

Central banks all over the world have been controlling the national fiat currencies since the very inception of fiat (the term itself is telling a lot about this). And this control coexisted pretty well along with capitalism in most developed countries for many decades if not centuries. Also, why would the government allow anyone to mine the national cryptocurrency but their citizens exclusively?

For me, it is like being a public employee in Finland and demand payment in American dollars.

STT

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Activity: 4102

Merit: 1454

Quote

Obviously, the government would allow mining only for the citizens of the country

That seems to immediately raise problems, central control of a currency is not capitalism. If they only allow certain people to mine it to exclude competition they'll have to put effort, time and money costs into suppressing people trying to make money. Doesnt seem like a path to success to me.
Capitalism works because all the effort people put into outdoing each other ironically has a societal benefit even when they are entirely selfish biased in their efforts, its something missed by the far left I guess

usefrees

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Activity: 218

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Quote from: tee-rex on November 16, 2016, 09:26:38 AM

Quote from: kotwica666 on November 15, 2016, 01:49:28 PM

Quote from: anavuajna on November 15, 2016, 11:25:21 AM

Quote from: kotwica666 on November 15, 2016, 11:04:25 AM

Quote from: HateEU on November 14, 2016, 04:12:39 PM

Keek west govrements cant stop bitcoin to bring to west countries because it is really popular or they can but if they did that they will create own cryptocurrency like sweden and norway which are making own cryptocurrency.

China also from long time create their own cryptocurrency, however, this does not mean that it can threaten Bitcoin.
Price is still slowly increasing, which means that the popularity of Bitcoin as well. This means only his success, not troubles ..

I believe that the national threat cryptocurrency provide Bitcoin. Not for those who are already using Bitcoin, and for new users.

Not sure if i get your point, but as i understand, you think that national cryptocurrency can attract new users and because of that Bitcoin can have problems..?
In my opinion, when countries begin to popularize their own cryptocurrencies, it will only help Bitcoin. Because in this way they will confirm that cryptocurrencies are safe. This may be the first step Bitcoin into the mainstream.

It may both help and harm Bitcoin. If this cryptocurrency would have features that Bitcoin lacks, both in technical and financial aspects, it could in fact eat away at Bitcoin popularity in that country. For example, if the government allowed to pay taxes with it, many people will be happy to mine this currency just to get away with the taxes. Obviously, the government would allow mining only for the citizens of the country, so no more Chinese stealing mining power. Methinks, there are a lot of ways how this can be done in practice.

Yes, the government is likely already working on plans to introduce taxes or their cryptocurrency. They do not like Bitcoin, they can not control it. That's because of this and there is government interest in cryptocurrency

kotwica666

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Quote from: goldcoinminer on November 16, 2016, 08:48:50 AM

Quote from: kotwica666 on November 15, 2016, 01:49:28 PM

Quote from: anavuajna on November 15, 2016, 11:25:21 AM

Quote from: kotwica666 on November 15, 2016, 11:04:25 AM

Quote from: HateEU on November 14, 2016, 04:12:39 PM

Keek west govrements cant stop bitcoin to bring to west countries because it is really popular or they can but if they did that they will create own cryptocurrency like sweden and norway which are making own cryptocurrency.

China also from long time create their own cryptocurrency, however, this does not mean that it can threaten Bitcoin.
Price is still slowly increasing, which means that the popularity of Bitcoin as well. This means only his success, not troubles ..

I believe that the national threat cryptocurrency provide Bitcoin. Not for those who are already using Bitcoin, and for new users.

Not sure if i get your point, but as i understand, you think that national cryptocurrency can attract new users and because of that Bitcoin can have problems..?
In my opinion, when countries begin to popularize their own cryptocurrencies, it will only help Bitcoin. Because in this way they will confirm that cryptocurrencies are safe. This may be the first step Bitcoin into the mainstream.

Our national currency is already popular even before bitcoin was invented, and bitcoin was here not to replace the national currency but to supplement it because people need a currency for online transaction that's fast and cheap.

As a rule, I do not foresee the future Wink

, but see what cointelegraph published today:
https://cointelegraph.com/news/chinas-central-bank-hires-blockchain-experts-to-launch-cryptocurrency

I told you! Chinese cryptocurrency will kill altcoins!

tee-rex

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Activity: 742

Merit: 526

Quote from: kotwica666 on November 15, 2016, 01:49:28 PM

Quote from: anavuajna on November 15, 2016, 11:25:21 AM

Quote from: kotwica666 on November 15, 2016, 11:04:25 AM

Quote from: HateEU on November 14, 2016, 04:12:39 PM

Keek west govrements cant stop bitcoin to bring to west countries because it is really popular or they can but if they did that they will create own cryptocurrency like sweden and norway which are making own cryptocurrency.

China also from long time create their own cryptocurrency, however, this does not mean that it can threaten Bitcoin.
Price is still slowly increasing, which means that the popularity of Bitcoin as well. This means only his success, not troubles ..

I believe that the national threat cryptocurrency provide Bitcoin. Not for those who are already using Bitcoin, and for new users.

Not sure if i get your point, but as i understand, you think that national cryptocurrency can attract new users and because of that Bitcoin can have problems..?
In my opinion, when countries begin to popularize their own cryptocurrencies, it will only help Bitcoin. Because in this way they will confirm that cryptocurrencies are safe. This may be the first step Bitcoin into the mainstream.

It may both help and harm Bitcoin. If this cryptocurrency would have features that Bitcoin lacks, both in technical and financial aspects, it could in fact eat away at Bitcoin popularity in that country. For example, if the government allowed to pay taxes with it, many people will be happy to mine this currency just to get away with the taxes. Obviously, the government would allow mining only for the citizens of the country, so no more Chinese stealing mining power. Methinks, there are a lot of ways how this can be done in practice.

Topic: Big Crash coming - page 27. (Read 115401 times)