How exactly will they "crush" bit coin? The genie is all ready out of the bottle. One country might make it really difficult to use it but there is no way to eradicate it.
I think BTC is a bait and switch. Get everyone into "e-money" as Milton Friedman called it in 1999 and at some point, possibly,
Satoshi will release his coins to flood the market or will be done some other way. Perhaps "BTC enables terrorism and child porn" so
use our new coin, I don't know how this will be done. However I do not think TPTB will let mircea popescu become a trillionaire.
So at some point they will take control and drive this in exactly the direction they intended all along. Andreas
has spoken about this also. Everyone will have to make a choice, their way or go own way ie DRK, XC, MRO or whatever, which will
likely be illegal to use or accepted for goods and services by that point IMO.
BTC is fiat and this as been argued well by Anonymint in his thread:
Coinbase + Bitpay is enough to make Bitcoin a fiathttps://bitcointalksearch.org/topic/bitcoin-adoption-slowing-coinbase-bitpay-is-enough-to-make-bitcoin-a-fiat-557732There may be a limit of 21million BTC today, but with all these interchangeable alt coins, some of which you can
exchange directly with USD like LTC, Doge, PPC, NMC and FTC , there really is no limit to number of coins. It is an ever
inflating pool that dilutes BTC and USD constantly as flows into these other alt coins.
"
the same way copper dilutes and inflate gold"
You can exchange your gold for copper or use your copper to exchange for gold. As opposed to only being able to use or possess gold so yes exactly.
There is very interesting paper from Kenneth Rogoff recently, described here:
"Rogoff Examines the Upsides of a Currency-Free Economy"
http://blogs.wsj.com/economics/2014/05/21/rogoff-examines-the-upsides-of-a-currency-free-econom/Unfortunately the pdf is no longer free to download. The timing of this is very curious and given who wrote it, worth paying
attention to. He is essentially arguing for "a more proactive strategy for phasing out the use of paper currency."
Discussed here:
https://bitcointalksearch.org/topic/2014-05-29-financial-times-kenneth-rogoff-time-to-phase-out-paper-money-630538 and here
https://bitcointalksearch.org/topic/2014-05-21-harvard-economics-professor-makes-the-case-for-bitcoin-619865"DeathandTaxes" writes: "
A digital currency known as the dollar already is the norm" the USD is still debt based and does not have
the blockchain.
Bitcoin is Freedom.
Bitcoin is definitely not freedom. The existing blockchain is another form of slavery, an open asset tracking and forfeiture tool, the true goal. Marc Andreessen said just last month that within two years libertarians are going to hate bitcoin...once they realize what it really is.
States need to replace debt based fiat system with something else and blockchain the most visible and viable candidate.
By 2030 half of the population will be unemployed due to automation. Runaway medical costs, long term debt and liabilities of 200 trillion according to Laurence Kotlikoff
http://usawatchdog.com/america-in-worse-fiscal-shape-than-detroit-professor-laurence-kotlikoff/, trillions of derivatives, the list goes on and on.
It is pretty clear in my mind where this is all going and why.
This whole process could take until 2030~2040, so existing fiat debt based currency and monetary system not going anywhere any time soon...though Jim Rickards recently said this could all happen faster than any of us think...
Okay Mr. Bankster or who ever you are we understand your threatened and your career is going the same route as Travel Agents had their own careers go when the internet revolutionized the travel agency business. Get over it. Move on. And don't take other peoples word on anything. Always verify. Your taking some at face value without facts in evidence. Others you discount without even reflection on the facts in evidence.
As for your comment:
"Bitcoin is definitely not freedom. The existing blockchain is another form of slavery, an open asset tracking and forfeiture tool, the true goal."
...what nonsense. WHAT HOGWASH. The blockchain is a public ledger. And a semi anonymous one that can easily be made much more anonymous through various means. As for Bitcoin being Slavery...what silly nonsense.
As for Libertarians, their already proven to be jack-asses that demand others carry their water while their parasitical tendencies represent and reflect how other wealthy elite and banksters view the rest of us 'little people'. Screw them. Libertarians are just as flawed as democrats and republicans. Or should I say liberals and conservatives. Hell real conservatives are a dying/dead breed. Very few true conservatives are even still breathing. Neo-cons phonies wiped them out, along with the phony liberals and phony libertarians. Swine that cares to mix politics or religion, or anything else, into a monetary topic are to be frowned upon.
Ron Paul - "deregulation and privatization are the only solutions" after the 2008 election. He finally took off his mask. I dropped him right then and there for the fool he surely is. It doesn't matter if he does get everything else correct (he mostly seem to get everything else correct) he failed on those two most important points and proved right there he is merely yet another billionaire fascist wet-dream for them, and not for anyone else but other elites like himself. Dr. Paul is merely the consummate politician telling people exactly what they want to hear. Yet then just as always right on cue he rolls over like a cowardly little puppy and endorses who for president at the last moment. All these that think they know Dr. Paul? They don't. Just like they didn't know who the real Tea Party was or who hijacked it (The Koche brothers as in Billionaires). Those are the fascists in love with Dr. Paul. But not any libertarian worthy of being called a decent person. As for Dr. Pauls son: well sometimes the apple does fall far from the tree...
Monetary topics are to rise or fall on their own merit. Fact is states and countries will always fail at fiat issues. Always have, always will. If 0ne doesn't understand why then one hasn't done their research, at all, in the least bit.
Next:
No one termed Satoshi Nakamoto would dare do anything to destroy the very value that he/she/they created by selling/dumping far too much bitcoin onto the marketplace at any point in time, not ever. In fact I would suggest quite the opposite if anything. But certainly not destroy the genius work of their own skills and labor. Why would any sane person destroy their own savings by liquidating it too quickly to merely crash it's value? That's insane. Only if Bitcoin grew so corrupt that it is no longer representing what Satoshi intended would any rational actor ever even consider such a thing. And merely more mining centralization and more mainstream adoption and commercializing was the exact thing Satoshi had to know would eventually occur. It's just mind boggling how some come on here and state such ill founded fear based drivel and nonsense.
Smart people act rationally. Your suggesting the diabolic opposite. Wrong. It doesn't matter if it's a black op nsa effort that is Satoshi either. The end results are what matters. No more debt, and decentralization of command and control so that money as we know it finally becomes a strong store of value, and not an ever inflated away weak store of value. That scares some. It should. Because they too finally will have to much better behave to attract capital investments.
As for you Mr. Bankster, or whatever it is you are, your comment on Bitcoin not being Freedom. That's so over the top and such nonsense it makes me laugh and laugh. Yet wonder how dumb, gullible, naive, and foolish are people like you?
No, I don't belong to any political party. Never have. Never will. I am also far older and more stupid, yet much wiser than most here.
To listen to what you just wrote just makes me laugh...
But yes, the parasites in American Health Care that love to bankrupt widows and orphans must be held to full account. After all it's the worst health care in the 1st world today. In fact we rank just below Cuba when it comes to our health care today, which of course the US health care we do receive is also the most expensive in the world, and by huge margins. And what? Your answer is to give the States ever more power and control over money too? Are you serious? Are you even thinking? Or just spouting off without a second thought?
No, deregulating the financial industry didn't work. It failed. check.
Privatizing the top 300+ non-profit hositals in the USA failed. check.
I can give a very long list of failures when it comes to deregulation and privatization for that matter. Just look at your electric bill or gas bill for starters. Get over it. All of you. You are being conned. Played. Suckered. Bamboozled. The very same ones that trusted in Mt.Gox with much of their savings are very likely the same ones being conned about much more.
But at least this Bankster or whatever, at least he reads. Hey, that's a great start. But don't take fear, fear, fear as fact. We have nothing to fear. All these fear based articles are usually nonsense. Sure the monetary world is a train wreak. Okay. It crashes. We fix it. We go forward. It's not all going up in smoke. We don't "collapse" and never come back. It's not the end of the world. But we may all be poorer for it. There are no boogy men. No terrorists. Your odds are far higher of being hit by lightening than ever being scratched by a terrorist. It's all nonsense. Sensationalism.
Fact: Doctors and Nurses plus Pharmacuticals are the number one cause of death in America today. Same for much of the world. They make far too many mistakes and errors. And the drugs peddled kill huge numbers, and harm millions more every year. Between 200,000 to 600,000 or more each year die because of this group. Toss in governments who launch horrible acts of war that mainly kills and harms innocent people and here you come with what? And dare to say what? I will rip you to no end...
By 2030 half of the population will NOT be unemployed. Another nonsense statement that some internet legend concocted in their own mind so it must be truth. WRONG. That wont occur. Can't. If it did then the rest will surely have to support those unemployed. Already almost half are unemployed or grossly underemployed today. And 20% of all households supposedly have no one with any job at all. Those are alarming facts. Things are not good. But they will eventually be solved long before 2030. Things wont stay together if things drag out much longer. States and regions will demand the breakup of this country if things stay so out of control. People will eventually demand better. But so far most are brainwashed and too dim to understand facts from fictions.
Robots and automation to replace humans: bullshit. Pure hogwash. Yes, computers and the internet greatly increased efficiencies for all of us. Net result: Millions of jobs lost. And millions of new jobs created.
Today we need Trillions spent in public works and in our decaying infrastructure. Like it or not that will get done in the next 20 years, and like it or not we will spend ten's of trillions doing that. And tens of millions will be employed doing such tasks. All these fear fear fear articles are bullshit. Same for those that come here and repeat this crap non stop.
The Debts will and must be restructured and/or written off. Solutions will be had. Or revolutions will be the result. The USA government is digging in. But their troops will not obey orders against their own peoples, their families, relatives, friends and neighbors. In fact it will end up being the military that brings about the arrest and prosecution of the legislative branch if they don't swiftly fall into better favor with most. That much is painfully apparent.
The criminals in the banks and on wall street, plus in the board rooms and elsewhere will be brought to justice sooner, or later. The statute of limitations for felony fraud isn't kind, at all. Their ill gotten gains are ours (the public's). These same types think their superior. Some think their our masters. I assure you their not my superior nor my master, although they may be your employer.
As for all the problems you see and foresee due to someone else bringing them to your attention: Yes, No. Maybe. You appear to live a cowards life. One of fear and emotion. STop it already. Have no fear. Refuse to be bullied or cower. Yell at me if it makes you feel any better but realize that many predict many terrible things going forward throughout the history of mankind. Yet it only keeps getting better and better every 50 to 100 years throughout time. And the end of time never arrives either. For thousands of years many have said and claimed it's "the end days". It's all nonsense instead.
Either a person is good and decent, or their rotten and no good. No in between. No grey area. Pure genius invented Bitcoin for many wonderful reasons. Here we have someone else come along and say what? Your nuts!
Bitcoin is Freedom.
