Topic: Joseph Stiglitz: ‘We should shut down the cryptocurrencies’ (Read 961 times)

They want to ban bitcoin by the use of force and they want to impose their will to the public but as long as the reasons of why bitcoin was created in the first place are still there and they do not fix them then bitcoin will remain strong regardless of what they do, we will not have any need for bitcoin if governments managed their economies in an honest way and they did not manipulate their currency but they have decided to do so and now the people finally found a way to create a currency they cannot manipulate and this is why bitcoin does not stop growing.

I don't know his reasons why he want to shut down the cryptocurrency after a couple of years that it become famous,useful and profitable. I alsi think that nobody can stop crypto as long as there are still a lot of demand and users. Cryptocurrency can be use for online payments and i think there is no reason to eliminate it. It will not harm us or even the fiat money. Crypto currency could be an alternative for fiat currency but it will not replace it.

Thal was/is actually a valley. So Thaler was like money from valley or valleys peoples coins.

I don't think so, when a person can make technology products like crypto, another person can still shut down crypto but the problem is that this event is not conducive to countries because as we know, a lot of people join this market, shut down just doing huge damage, affecting the economy of the country. While if this market continues to maintain, many people will gain income and good economy for the future then contribute tax to the country, so useful, why shut down cryptocurrency when this is not good

I wonder how much he got paid for these biased statements? Maybe by the bank owners? But all I can say, transparency exists in bitcoin's blockchain but when we talk about fiat, it can easily be untraced by passing it to people and hiding it in many objects. I've seen many movies where fiat is easy to move by money launderers using a very clever style of transport.

Fortunately there is no way to shut down the cryptpcurrency. He worry about bitcoin, it is mean that bitcoin can be something big that can change the world. Many people life changed to be better because of bitcoin, so it can't be a problem in the future. I think more people will agree that bitcoin is better than fiat so there will be less people who want to shut down bitcoin.

I don't think the dude who wrote the article knows about crypto, because if he knows, then he would have known that shutting down crypto is the most difficult thing anyone could do in this planet earth including the government of the world, there have tried everything possible to shut it down, they couldn't do so and now they are looking for ways to be able to control it since they know that it would be very difficult to shut it down, they haven't still found the way yet.

Then he should also call for shut down of everything because anything could be used for illicit activity.
Cash is being used for it for a long time now ,Guns should also be shutdown since it is used for killing people,
Cars should also be included because it is used by criminals to escape.
So basically everything should be shutdown because they could be used for illicit activity.

That is why I am more in favor of bull run that resulted into pumpping.  "Cryptocurrencies market", got it popularity from how bitcoin has perform in some years back and not because of how good the blockchain is or how bitcoin solved the transactions problems.  I hope if bitcoin or cryptocurrencies is shut down as stiglitz,  has recommended he has an alternative for some of us that are now used to the p2p transactions and the type of speed we are having in making payments online?

Even if they place a ban on it, how would they be able to trace the user of the cryptocurrency, this is where satoshi really made them handicapped, he must really bean intelligent man and for this reason, he will never show his face so that government and enemies of cryptocurrency will not get him arrested or killed.

There is no way they can stop cryptocurrency, even china that tried banning his miners recently could not succeed in doing so, and probably reason why they have not said anything about it again, which absolutely means they will have no choice than to regulate it.

Yes, that will attract more people to come to cryptocurrency, and they will join like what we did.
I am sure that when the price flies, many people will amaze and wonder how it could happen again and they will search for the reason.

Bitcoin or any crypto currency is not something that could be shut down, no matter what you do. All the countries in the whole world come up with a ban that will stop all exchanges and all miners and everything in between and basically make it illegal to even own bitcoin and even after that bitcoin will still live as long as it runs on a single computer.

Considering they can only slow down bitcoin by doing that and dropping the price there is absolutely no logical way to shut down at all. You can't just take out wallets and close all computers that ever had bitcoin related things on them, its not possible, you can't even do that for small coins let alone something as big as bitcoin. Which clearly shows that Joseph Stiglitz has no idea how bitcoin works at all and should not be cared about at all.

which becomes more difficult to turn off crypto because without the presence of the government, crypto can survive and more people use it. especially if the price flies, of course there will be more news about crypto, so that it has an effect

So let's wait with what happened after this and if that guy can make the bull spike again, then it will gives benefits to us because bitcoin price will increase so high like before.
And if he shut down everything, then we could be back to the stone age without a chance to see a new world happen and I am sure that many people will deny what he says.
It is not easy to shut down cryptocurrency because it's already spread in many countries although not all people know about cryptocurrency, at least people know that cryptocurrency is alive among them.

They can see the benefits that cryptocurrencies will give to everyone, that is precisely why they are against them, banks obtain great benefits by providing a service that while useful it gives them the chance to abuse their power, which is something they have been doing for centuries and for the first time in a long time they have to compete against a form of money that is not controlled by them and they are not liking this at all.

Because they are public figure, they think it’s everything they say to the world that people will take, he knows the truth too and he is just trying to still sell himself by doing the opposite. He has not even listed the damages cryptocurrency will cause to the world, because it is only when something can damage the world that requires being globally shut down.

Bitcoin is now a global issue that is beyond the decision of just one single government, and except governments of the whole world comes together before they can succeed in shutting crypto down, which is where the hitch will start from, because we have some government that has already adopted cryptocurrency.

The scam and fraud that goes on with fiat is more than the one that goes on with cryptocurrency and despite the fact they can control fiat, yet governments are still fighting fiat corruption, so they don’t need to condemn crypto and paint fiat as if it’s usage is void of fraudulent activities.

Instead of them creating all these FUD, They would have just sat down with crypto analyst and see how they can merge the 2 system and still have little control using crypto since it has always been the fear of government, its glaring now, after I learnt that Facebook has been called by senators to explain if its usage of crypto will make the people’s transaction less transparent, although that has not been confirmed, still a rumor.

Probably that has been his anger, I never heard of his stand about bitcoin until I read about it here, if he has been fighting bitcoin before the last Bull run, then he must really be a bitter person by now for not following the path of successful people, of all the digital payment that has existed before bitcoin, which one has been more successful globally without exploiting the users like bitcoin.

If he is advocating for the short t=down of bitcoin, they he should be ready to go back to the days of our forefathers where they find it difficult to communicate with each other easily and would have to travelled far distance across the border to perform a single transaction.

This is the major problem with all the economist who does not have a clue what they are talking about, he thinks that bitcoin can be shut down  a global crack down on all the miners, blockchain is the most transparent thing you can ever get and still he think that it is the opposite, the only thing these prize winning economist can do is to stop giving advice to the things they cannot understand  .

Lots of things in capitalist markets are ironic and appear to be negative while actually marking the bottom.    When nobody is complaining or pointing out negatives, its an incredibly dangerous situation if like you can imagine the whole of a crew of a small fishing/rowing boat all standing on one side then its unstable.

This guy hopping onto a negative chart of BTC and calling out problems possible but then the price rises, its not fake or organised its just that he is late to the party.   Despite his well observed classically trained fine talking on the subject, he is far away from the real people all over the globe who actually determine real markets.    Many attached to macro economics are a reflection on the modern nature to the dollar which is deficit based, debt absorbed and bound to politics not open trade.     The fuss over these tariffs is a big deal but its politics not proper economic determination by normal supply and demand.

He is very likely to call it wrong because he is assuming an unadjusted system like BTC is going to replicate markets dominated by governments and markets.   Proper capitalism is a reflection of billions of people or millions in each country, its highly unpredictable and capturing a trend is very profitable as it will be genuine not based off artificial programs from government.

Its quite likely crypto is new and genuinely going to open business that might not exist otherwise, how or who profits most from that trend is the hard part but I dont think its going to pop and disappear and we revert to governments overspending and losing money as a better system of exchange, its not