We are already familiar with the history of governments banning crypto trading,ICOs and all the KYC policies and "transparent" regulations.
Most of the doesn't work,so the government clerks will invent new regulatory BS.Don't worry about that.
Topic: crypto banned? - page 4. (Read 847 times)
What's the point of this thread?
We are already familiar with the history of governments banning crypto trading,ICOs and all the KYC policies and "transparent" regulations.
Most of the doesn't work,so the government clerks will invent new regulatory BS.Don't worry about that.
We are already familiar with the history of governments banning crypto trading,ICOs and all the KYC policies and "transparent" regulations.
Most of the doesn't work,so the government clerks will invent new regulatory BS.Don't worry about that.
The very conceptual idea of the State is to keep people under control, and for that, people need to be poor, undernourished, distracted and ignorant. A State exists to protect an aristocracy which have the monopoly of force. Without the armies and the weapons, they cant enforce poverty and enrich at the costs of the enslaved.
Fiat money is based on the PoS model, where the money is stacked into debt. People who criticize the PoS model says it will eventually go to zero. Fiat money had already reached this level, after it was debased from gold, and hence it became negative: each bank note is a garantee for a unpayable debt, which in some countries is equal to the GDP, implying that each citizen is a slave, cattle to be grinded in the machinery of what they call "honorable" work.
People are taught since childhood to be poor, and to accept work as it is: enslavement where you work like a mule for the entire day, doing repetitive stuff you dont like. In this way they dont have time to think and ponder about what they are doing. For the weekends, they can be brainwashed with stupid television programs, or look for breeding "needs" in nightclubs, spending their hard-earned money with drinks and drugs.
Unfortunatelly, we cant change this. Bitcoin will not change it. The whales manipulate the price, and this brings misery to the enslaved ones who dont have enough money to invest on it. How can you have bitcoin as a currency if its manipulated as a speculative asset? And then theres the electricity costs: people rejoice at the idea of bitcoin valuing 1 million dollars, but dont think about the electricity it would need to mine at that level. The large ammounts of electricity would bring a Matrix-like scenario in a matter of years: people would need to plug their own bodies in the network and offer their own energy to mine bitcoin, which could become the framework for an AI. But then I wonder: would it be better or worse than the current system? We cant know it.
Fiat money is based on the PoS model, where the money is stacked into debt. People who criticize the PoS model says it will eventually go to zero. Fiat money had already reached this level, after it was debased from gold, and hence it became negative: each bank note is a garantee for a unpayable debt, which in some countries is equal to the GDP, implying that each citizen is a slave, cattle to be grinded in the machinery of what they call "honorable" work.
People are taught since childhood to be poor, and to accept work as it is: enslavement where you work like a mule for the entire day, doing repetitive stuff you dont like. In this way they dont have time to think and ponder about what they are doing. For the weekends, they can be brainwashed with stupid television programs, or look for breeding "needs" in nightclubs, spending their hard-earned money with drinks and drugs.
Unfortunatelly, we cant change this. Bitcoin will not change it. The whales manipulate the price, and this brings misery to the enslaved ones who dont have enough money to invest on it. How can you have bitcoin as a currency if its manipulated as a speculative asset? And then theres the electricity costs: people rejoice at the idea of bitcoin valuing 1 million dollars, but dont think about the electricity it would need to mine at that level. The large ammounts of electricity would bring a Matrix-like scenario in a matter of years: people would need to plug their own bodies in the network and offer their own energy to mine bitcoin, which could become the framework for an AI. But then I wonder: would it be better or worse than the current system? We cant know it.
''People are taught since childhood to be poor'' Meh, are they really? Where exactly does that happen? I don't believe my parents ever said to me, hey, you should be poor all your life, they always wanted me to be someone important as most parents do, like a doctor or a lawyer, etc. People are poor because people are idiots. We need idiots, though, we need people to do the shitty jobs, at least for now, hopefully in the near future we will have robots to take care of that for us.
Banning has been happening for years and the fact that Bitcoin is continuously developing only proves that banning it couldn't stop it. In fact, people are even wiser. They know how to deal and to get involved in cryptocurrency despite all the bannings and restrictions. Lucky are those countries who are accepting and adopting cryptocurrency because it will be a big help in their economic growth.
The very conceptual idea of the State is to keep people under control, and for that, people need to be poor, undernourished, distracted and ignorant. A State exists to protect an aristocracy which have the monopoly of force. Without the armies and the weapons, they cant enforce poverty and enrich at the costs of the enslaved.
Fiat money is based on the PoS model, where the money is stacked into debt. People who criticize the PoS model says it will eventually go to zero. Fiat money had already reached this level, after it was debased from gold, and hence it became negative: each bank note is a garantee for a unpayable debt, which in some countries is equal to the GDP, implying that each citizen is a slave, cattle to be grinded in the machinery of what they call "honorable" work.
People are taught since childhood to be poor, and to accept work as it is: enslavement where you work like a mule for the entire day, doing repetitive stuff you dont like. In this way they dont have time to think and ponder about what they are doing. For the weekends, they can be brainwashed with stupid television programs, or look for breeding "needs" in nightclubs, spending their hard-earned money with drinks and drugs.
Unfortunatelly, we cant change this. Bitcoin will not change it. The whales manipulate the price, and this brings misery to the enslaved ones who dont have enough money to invest on it. How can you have bitcoin as a currency if its manipulated as a speculative asset? And then theres the electricity costs: people rejoice at the idea of bitcoin valuing 1 million dollars, but dont think about the electricity it would need to mine at that level. The large ammounts of electricity would bring a Matrix-like scenario in a matter of years: people would need to plug their own bodies in the network and offer their own energy to mine bitcoin, which could become the framework for an AI. But then I wonder: would it be better or worse than the current system? We cant know it.
Fiat money is based on the PoS model, where the money is stacked into debt. People who criticize the PoS model says it will eventually go to zero. Fiat money had already reached this level, after it was debased from gold, and hence it became negative: each bank note is a garantee for a unpayable debt, which in some countries is equal to the GDP, implying that each citizen is a slave, cattle to be grinded in the machinery of what they call "honorable" work.
People are taught since childhood to be poor, and to accept work as it is: enslavement where you work like a mule for the entire day, doing repetitive stuff you dont like. In this way they dont have time to think and ponder about what they are doing. For the weekends, they can be brainwashed with stupid television programs, or look for breeding "needs" in nightclubs, spending their hard-earned money with drinks and drugs.
Unfortunatelly, we cant change this. Bitcoin will not change it. The whales manipulate the price, and this brings misery to the enslaved ones who dont have enough money to invest on it. How can you have bitcoin as a currency if its manipulated as a speculative asset? And then theres the electricity costs: people rejoice at the idea of bitcoin valuing 1 million dollars, but dont think about the electricity it would need to mine at that level. The large ammounts of electricity would bring a Matrix-like scenario in a matter of years: people would need to plug their own bodies in the network and offer their own energy to mine bitcoin, which could become the framework for an AI. But then I wonder: would it be better or worse than the current system? We cant know it.
Great write up on the travails of this wonderful currency called bitcoin and its underlying blockchain. The government of many nations have tried to stop the use of bitcoin through various legislation but still bitcoin has even grown stronger. These government would all be swept by the crypto wave sooner than expected.
Right... but it didn't really work, did it? Cryptocurrencies are traded more than ever and the price is still significantly higher than it was 3-4 years ago. Not everything is a conspiracy, government fear about taxes makes sense, can you imagine if no one paid any taxes? The fear of linking cryptos to crime is also fair, of course crime has existed way before cryptos but it's not crazy to think crypto might enable criminals to do even more harm even though it doesn't seem to be the case.
For eastern countries, who don’t have things like democracy to worry about, it was easy. They banned it.
The West took a more subtle approach using the jab-cross-left-hook of fear, dis-accreditation, and tax. Fear of capital loss and distrust. Stories of stolen coins, bankrupt and corrupt exchanges. Linking cryptocurrency to crime, and what the government will do to anyone who actually makes a profit.
It worked.
Globally the response to the rise in the market capitalisation of cryptocurrencies was not homeopathic.
Governments didn’t bring out the heat lamp and cream to soothe the problem.
They brought the sword and started swinging.
On the demand side…
China outright banned ICO offerings and cryptocurrency trading, but India was slightly more subtle. The Indian government made an offer the banks couldn’t refuse — sure, you (banks) are free to do what you want. But if you let your customers swap between rupees and cryptocurrency the Indian Central Bank will cut you off. Not quite waking up with a prize stallion head in the bed, but Johnny Fontaine got his movie.
South Korea, a country whose citizens are understandably Bitcoin crazy, initially banned ICO’s but allowed the restricted buying and selling of cryptocurrency. The restrictions include prohibiting anonymous deposits and reporting anyone who moved more than 10 million won ($9,300) a day into the cryptocurrency market.
In the West, while not outright banning cryptocurrency trading, the campaign to stop cryptocurrency demand moved into full swing and included…
Full KYC (know your customer) requirements to open a cryptocurrency account.
Restrictions on how much fiat currency can be moved in and out of exchanges.
Huge increases in fees from credit and debit cards to fund cryptocurrency accounts.
New tax laws. The IRS now treats cryptocurrency as property. Any profit must be disclosed. Not just from moving fiat currency into cryptocurrency and then back again, but on every individual transaction.
Strong-arming cryptocurrency exchanges with new regulation caused massive delays in account opening, and all this combined with a negative media frenzy successfully killed the demand.
Big companies too joined the anti-cryptocurrency stance.
Facebook and Google outlawed cryptocurrency advertising. Perhaps they have been persuaded by the wisdom of the establishment, considering the lightness of touch over regulation and taxation. Why bite the hand?
The speed and aggressiveness in response to the rising value of cryptocurrencies is a significant tell on the future of this technology.
The establishment wants your seat at the table.
The West took a more subtle approach using the jab-cross-left-hook of fear, dis-accreditation, and tax. Fear of capital loss and distrust. Stories of stolen coins, bankrupt and corrupt exchanges. Linking cryptocurrency to crime, and what the government will do to anyone who actually makes a profit.
It worked.
Globally the response to the rise in the market capitalisation of cryptocurrencies was not homeopathic.
Governments didn’t bring out the heat lamp and cream to soothe the problem.
They brought the sword and started swinging.
On the demand side…
China outright banned ICO offerings and cryptocurrency trading, but India was slightly more subtle. The Indian government made an offer the banks couldn’t refuse — sure, you (banks) are free to do what you want. But if you let your customers swap between rupees and cryptocurrency the Indian Central Bank will cut you off. Not quite waking up with a prize stallion head in the bed, but Johnny Fontaine got his movie.
South Korea, a country whose citizens are understandably Bitcoin crazy, initially banned ICO’s but allowed the restricted buying and selling of cryptocurrency. The restrictions include prohibiting anonymous deposits and reporting anyone who moved more than 10 million won ($9,300) a day into the cryptocurrency market.
In the West, while not outright banning cryptocurrency trading, the campaign to stop cryptocurrency demand moved into full swing and included…
Full KYC (know your customer) requirements to open a cryptocurrency account.
Restrictions on how much fiat currency can be moved in and out of exchanges.
Huge increases in fees from credit and debit cards to fund cryptocurrency accounts.
New tax laws. The IRS now treats cryptocurrency as property. Any profit must be disclosed. Not just from moving fiat currency into cryptocurrency and then back again, but on every individual transaction.
Strong-arming cryptocurrency exchanges with new regulation caused massive delays in account opening, and all this combined with a negative media frenzy successfully killed the demand.
Big companies too joined the anti-cryptocurrency stance.
Facebook and Google outlawed cryptocurrency advertising. Perhaps they have been persuaded by the wisdom of the establishment, considering the lightness of touch over regulation and taxation. Why bite the hand?
The speed and aggressiveness in response to the rising value of cryptocurrencies is a significant tell on the future of this technology.
The establishment wants your seat at the table.
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