Joseph Stiglitz: ‘We should shut down the cryptocurrencies’ - page 2.

BitHodler

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Quote from: fabiorem on May 10, 2019, 04:20:12 PM

Bullish news. Last time I read about this guy attacking bitcoin was weeks before the bull spike in 2017.

I don't recall the exact date, but these bad news events do seem to coincide with a strong increase in the price. It's almost like they carefully plan these attacks on Bitcoin hoping that they can scoop up some cheap coins before the rally.

That being said, I am not seeing 2017 in current rally, more like what we have seen happen in 2015 where the price peaked out at $500 then went down with 40%. It went up just as quick as we have gone up in the more recent weeks.

Currently there is a lot of selling pressure around the $7000 mark and from what I can see, the buy support up there seems to get weaker and weaker. I expect a 10% correction to kick in testing the $6400 mark.

STT

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Dollars have a plug, in fact its already been pulled really just they left it in the drain so it makes less noise; nobody notices till they cold and all the waters gone. The proper dollar was linked to a set value, a dollar was a physical description of an amount of precious metal. Nobody is going to believe that because its ancient history but dollar relates to the Spanish empire, its money and its gold and silver which was how business and trade was done.
USA setting up at this time took on the concept, this was before it had won its great position we know today and as a new country they needed to win the trust of traders and holders of its money and debt.

Quote

The reason I say the plug of dollar got pulled was its not set to any value, its traded and changes every day to account for the constant new supply of dollar appearing at the top of the food chain. Its not a favourable system for anyone distant to that source

Broly46

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0xe25ce19226C3CE65204570dB8D6c6DB1E9Df74AC

I don’t even know if he’s making a joke, shutting down is just not a feature in the money itself, same with the dollars, it has no shut down feature, I would be very worry if both crypto and dollar could be shut down, he may try some other approach, may be restricting it by sanctioning, but it would be a futile effort too, very tough choice.

fiulpro

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That's something that has been said since the start of the crypto world , the thing is mainly bad activities happens with fiat , if you know sure I mean,
This way they should shut out the fiat and stuff also at the same time even the money in banks has been used for bad activities , it depends on the person not the method he us using

Also cryptocurrency is not that that can withheld identity the idea is it's easily trackable sometimes, you can follow the address and find a way.

nc50lc

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Self-proclaimed Genius

Quote from: Artemis3 on May 10, 2019, 11:23:33 PM

Quote from: fabiorem on May 10, 2019, 04:20:12 PM

Bullish news. Last time I read about this guy attacking bitcoin was weeks before the bull spike in 2017.

Is he a bull in disguise?
-snip-

That's not what he meant.
Every time the market becomes bullish, these guys tend to post negative news or FUD to spread... uh FUD (Fear, Uncertainty & Doubt).
Apparently, everyone here is expecting negative news about bitcoin during a bull run and these "crypto newscasters" never missed a single one.
Thus, it strongly indicates a bull run.

For the "news": He's alright but very biased in favor of fiat and that's what makes his statement an obvious FUD attempt.
Reasons are in my previous reply.

Artemis3

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CLEAN non GPL infringing code made in Rust lang

Quote from: fabiorem on May 10, 2019, 04:20:12 PM

Bullish news. Last time I read about this guy attacking bitcoin was weeks before the bull spike in 2017.

Is he a bull in disguise?

In any case he is wrong. By that logic internet should be shut down, or computers, or electricity...

Controls and "regulations", he is opposed to the free market. He wants the almighty State to intervene on every single transaction, in short, a socialist. He wants perfect information so he can command the economy, and that means a police State, which is the opposite of (good) cryptocurrencies.

Is not that he doesn't understand decentralization, he hates it.

fabiorem

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Bullish news. Last time I read about this guy attacking bitcoin was weeks before the bull spike in 2017.

finaleshot2016

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Degen in the Space

I know that bitcoin has a lot of disadvantages but let look on the other side of it. Bitcoin has a lot of advantage and it's very essential to its user. Everything that is being invented by a man has a negative effect, even the devices you're using everyday to surf the internet has a disadvantage. There's no thing that has no negative effect, so I don't even take it seriously. Bitcoin helps me a lot for everyday life and financial problems in academic.

I don't like his mentality towards an advanced technology.

Supercrypt

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Quote from: EastSound on May 08, 2019, 10:38:22 PM

His way of thinking is the same with the Chinese Government that wants to know and control every detail of a person financial status.

If they cant control it, kill it. Mentality

But, this one has already failed them. There is no way they can have control of the system, and even though the citizens might not have the complete freedom to operate cryptocurrency as they like, they will still be able to use it secretly without the knowledge of the Chinese government because of the anonymous benefit of the system.

Some of the people like Joseph are just being paid to use their public figure to kill the existence of cryptocurrency using all form of FUD news available to them which I don’t think they will continue to have their ways any longer as there is no more response to FUD news by bitcoin.

toast

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Quote from: Muzika on May 10, 2019, 09:52:15 AM

He cant shutdown cryptocurrency by his own insight, it is better if he ask for back up for the cryptocurrency by the government because that is the only thing that this kind of industry is needed.

in my opinion it's just a mere nonsense to scare cryptocurrency lovers. he has no right to turn off cryptocurrency because cryptocurrency has never made noise in the real world or the digital world. however, we must always support and protect bitcoin because cryptocurrency has contributed to our economy.

uneng

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Leading Crypto Sports Betting & Casino Platform

His points are very weak: first that any kind of currency is used for illegal activities, not only crypto currency, second that crypto transactions aren't so hidden as he thinks. Otherwise we wouldn't see news about criminals that deal with bitcoin being arrested.
What these guys want is to limit access to opportunities that crypto currency opens. They want to be the eternal middleman of the opportunities in life.

Apes

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sometimes people want privacy when using their money. it does not mean using cryptocurrency are always connected with against the law activities. the community has the right to choose when to use financial transactions without being easily traced, the consideration of removing cryptocurrencies as part of the global financial monopoly system. even though he is an economic noble from his thoughts, it doesnt mean that he has right to dictate people in the world how to use their money.

Muzika

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He cant shutdown cryptocurrency by his own insight, it is better if he ask for back up for the cryptocurrency by the government because that is the only thing that this kind of industry is needed.

BlueStackz

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Quote from: Febo on May 06, 2019, 01:37:27 PM

Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.

Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.

“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.

https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.html

The thing is, everything that has its advantage will also have a disadvantage. Cryptocurrency has a lot of advantages, and there is also disadvantages . I have seen those that claims that cryptocurrency can be used in sponsoring terrorist attacks, okay good, but before there was anything like cryptocurrency, terrorists were being sponsored, but by what? Lol.

If it's by dollars, then we should as well do something about that. Instead of stopping cryptocurrency, we should only be looking for ways to persecute those that makes use of cryptocurrency for evil purposes.

shoreno

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Shut down cryptos ? Why ? What is thier problem on why so many people want to destroy cryptos ? Cant they see the benfits of cryptos to the public ? Or maybe they are only a hater that hates crypto because they cannot control it but even most governments right now are already joining the movement towards the legalization of cryptos . oh well , shutting down cryptos is i think not really possible to happen .

viralmetaphore

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Another one trying to hide the moon with the thumb. What a such a dumbass. These kind of personalities well known for being backed by this U.S Dollar and the already failed/wrecked old systhematical transactions system. They already rich by this if the system truly dissapear, which in fact will do. their status won't fit anymore. They worst fear... nightmare

I mean. What such nobel prize? Didn't Obama won the Peace Nobel Prize. So what he did for the World Peace?. I think Bitcoin has done more for peace and economics itself.

South Park

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Quote from: Febo on May 06, 2019, 01:37:27 PM

Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.

Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.

“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.

https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.html

Another Nobel prize winner that is completely clueless about something outside his sphere of knowledge, if governments could shut down cryptocurrencies they should have done so already, the main reason bitcoin is still around 10 years later comes from its decentralization, it is as if he has no knowledge that there is not a button you can push to turn off this market, but I see something more insidious here, he does not want to recognize this market cannot be shut down even by the most powerful institutions of the world but he wants to make it seems as if it is possible to delay adoption.

Ucy

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Bisq is a Bitcoin Fiat Dex. Use responsibly

Cryptocurrency should be shut down?Okay, lol.
Has government control over fiat currencies stopped them from being used for illicit activities?
And he said he wants government to be able know what people are spending money on? interesting

TheCoinGrabber

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Quote from: Febo on May 06, 2019, 01:37:27 PM

“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.

Oh, is he advocating for Big Brother? He lost me at that part. Main reason Bitcoin was created was because this "regulated" economy failed many people. If they regulated it properly then the 2008 crash wouldn't have happened.

The genie is out of the bottle, there's no putting it back in. Even if they shutdown exchanges and miners, people would find a way to use it. If they attempt to quash it, it'll just go further underground.

audaciousbeing

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Everyone is very much entitled to their opinion to the extent of how much they believed its the right thing to do. I would argue towards the direction of blockchain because if not for anything, the transparency is second to none that there is absolutely no way to lie about such transactions. It also does not mean that the concern raised by the erudite scholar should be wished away because truth be told, a lot of people have been exploiting the anonymous nature of crypto as a means to carry out their nefarious activities to the detriment of the individuals who used it for the transborder advantages without any hassle.

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