Topic: Gold collapsing. Bitcoin UP. - page 1227. (Read 2032266 times)

the best part was that Shassky understands that Bitcoin can be used as a legitimate store of value.

The cool thing with elder folk is that they've lived through so many paradigm-shifting technical innovations in their lifetime, why can't Bitcoin be one too?

Yeah that's the fun part, but I don't think it's realistic for any more than a few people to be wise to this yet. Bitcoin is difficult to understand.

I'm even impressed by Sen. Schumer now.

sure it can make some sense, but this will be pretty hard to implement unless everyone in norway uses a norwegian exchange.
i sure as hell aint telling them about my mining / trading

on the other hand, any losses would be a nice little tax write off

very impresses with some staffers today, yes

They get it! I wouldn't expect them to drop terms like sha-256 and ecdsa but they get the basic concept! And with the Senator knowing that a stolen private key can be used to modify the public ledger! How far we have come

edit: YES! they even get that you can use Bitcoin to hedge against unstable inflation!

Just for reference with regard to the blocksize issue and and the original intent of bitcoin:

This isn't a surprise, IMHO.  In fact, I would think that probably in a lot of countries already existing taxes on capital gains apply.  This totally makes sense, doesn't it?  Just because you made your money with Bitcoins doesn't mean you don't have to pay taxes on it (at least when you decide to go to fiat at some point).

I've long come to terms with the likelihood that if Bitcoin is to have any success, it will be corrupted. The greatest manifestation of this was in March, when a group of developers and pool ops colluded to pick a particular chain over another. While everyone cheered at how well it was handled, I died a little inside over the brainwashing Bitcoiners have subjected themselves to and the ignorance to this problem. We have what I believe to be benign devs and pool ops now, but it will not always be so.

I do not believe for one second that most Bitcoin users are or will ever again be able to read and analyze open source code or even to adequately judge the opinions of those who can and "vote" for that which is in their interest. Neither do I believe that ASIC ownership will stay as distributed as it is now once profit margins tighten and it becomes a game of electricity prices and wholesale.

And then, there is of course the block size issue. We increase the block size, we will increase centralization due to higher requirements for nodes. Block size stays the same, people will inevitably be forced to use third parties to transact BTC as blockchain transaction fees skyrocket.

Decentralization comes with costs. That is why normally, markets favor centralization. It is to be seen how great they are.

Bingo.

Too much attention is being directed toward regulation. There is a very small subset of society that is even familiar with Bitcoin, let alone truly understands the potential as related to finance. Even fewer comprehend the impact the blockchain can have in fields outside of money.

With the complex, multi-faceted nature of Bitcoin, there is a great deal of room to engage in obfuscation. There was more said in the hearing yesterday through what wasn't said.

The core of Bitcoin is young, resilient, and vibrant - for now. However, it can be shrouded just as derivatives masked destruction in financial instruments.

We are Bitcoin. You will be assimilated. Resistance is futile!

Whatever the system, I'd rather be at the top than the bottom.

Anyway, come on! Blacklisting will only work if you confirm to their reality. Just don't. A coin is a coin. Pecunia non olet.

Yes it does matter. I don't want to live in a "New World Order" world, not even at the top. There's fear everywhere. Fear sucks.

Wasn't it DPR who gave them the passkey?

Scummy to bring the violence back to the drug war?
Scummy to sit by and watch as their perp allegedly put a hit on someone, knowing that he is just making more bitcoin for ol' uncle Sam the longer they let him keep it going, and then wait until he receives travel documents to enable him to leave the jurisdiction before they collar him?

Scummy is faint praise, it was calculatingly ruthless, worthy of the godfather of the worlds biggest protection racket.  Pure police poetry.  They laughed all the way to the treasury on that one.

I bet the BRICS will issue first a basket currency including bitcoin...

yep.  and don't forget they already own the top address.  that's a good start despite the way they obtained it was kinda scummy.

nonetheless, at the very least, i think they have gone neutral.  a hands off approach is just as good as an embrace right now.  that could come later.

they already realize the threat.  the papers over the last 2 yrs from the ECB, Nicholas Plassaras/IMF, the Chicago Fed, the FBI, etc. all point to that fact.  this was also mentioned yesterday by Shassky.  they have been concentrating on Bitcoin for 2 yrs now and i'm sure they have a full understanding of it.  they aren't stupid.  it would be a mistake to assume so.  but that doesn't necessarily mean they will go nuclear and try to kill Bitcoin.  based on what they said yesterday, the opposite could happen.  the price itself is telling us this will be so.  Bitcoin could be used to save the US from it's financial problems if they let it rise to it's natural level and even use it to replace the Gold Standard from 1971.  this is what i have argued could/should be Bitcoin's final destiny:

back the USD with Bitcoin.