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Topic: Bitcoin's strength is that nobody can crack it yet - page 14. (Read 1850 times)

full member
Activity: 252
Merit: 101
Global Risk Exchange - gref.io
They don't need to ban it directly to outlaw it. What if fiat money made off of selling cryptocurrencies were declared illegal? Even if you had billions of bitcoins, they would be worthless because you wouldn't be able to cash out legally.

But that is what people are failing to understand I feel like. You don't need to cash out once you have all the Bitcoin because you can spend that as currency. Everyday it becomes more spendable yet you want to cash out to the ever weakening purchasing power fiat currency? Yeah right, I will stick with my Bitcoins for the rest of my life, you can do whatever you like Cheesy.
member
Activity: 238
Merit: 38
Nobody can crack it, this is true. However many people are simply not educated well enough and do not understand the risks with their private keys. As a result of this we see that people lose their private keys or they get compromised, they don't care much if they leave coins on exchanges etc. I just want to point out that there is a big flaw in knowledge with some people and this could turn out to be a bad thing when they lose their money.

That is why we must make bitcoin independent from tracking

Bitcoin was made to be open and transparent, if you are looking for more privacy a like crypto, there are other options out there.
newbie
Activity: 56
Merit: 0
That is why we must make bitcoin independent from tracking
full member
Activity: 336
Merit: 100
Bitcoin is not free from the influence of governments. They cannot 'kill' bitcoin but if they really wanted to then they could do some serious damage to bitcoin and effectively stop its progress forever.
member
Activity: 140
Merit: 11
They don't need to ban it directly to outlaw it. What if fiat money made off of selling cryptocurrencies were declared illegal? Even if you had billions of bitcoins, they would be worthless because you wouldn't be able to cash out legally.
newbie
Activity: 56
Merit: 0
And it will remain so for a long time.
No government, no parties can effectively ban it and put their hand on it. They would have to ban internet first. Not likely.
That would be the end of free world we know.
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