My major concern about Bitcoin - page 2.

odolvlobo

legendary

Activity: 4522

Merit: 3426

Quote from: FTWbitcoinFTW on December 30, 2012, 03:56:14 AM

This is the only thing that stopping me from changing all my savings into Bitcoin

It would be difficult for governments to shut down bitcoin, but not impossible. Even if that doesn't happen, there is still a possibility that bitcoin will be worthless in the near future. Putting all of your savings into anything risky is a bad idea. I hope common sense is also stopping you.

Stephen Gornick

legendary

Activity: 2506

Merit: 1010

Quote from: FTWbitcoinFTW on December 30, 2012, 03:56:14 AM

This is the only thing that stopping me from changing all my savings into Bitcoin

LOL, ... put down that glass and step back away from the pitcher of kool aid.

If it was clear that Bitcoin would be free from interference from government and banks then you wouldn't be given the opportunity today to buy bitcoin at $13.40 or whatever it is at, as the exchange rate for a millibit would probably already be at parity with the dollar.

Recently Phillip Zimmerman was on Adam Vs. The Man:

AVTM End of the World Crypto-Party! Phil Zimmerman, Alan Reiner, John Light
- http://www.youtube.com/watch?v=bwGu5k6R--o

He was describing how he was under investigation for several years for his work in exporting encryption (considered "munitions").

But they never even charged him with anything.

Here's a podcast of a panel with Zimmerman explaining further that period:

History of the Cypherpunks
- http://www.bitcoinmoney.com/post/6136537609

We know various agencies and individuals in governments and banks around the world are aware of bitcoin:

List of court cases, complaints, regulatory actions, etc.
- https://bitcointalksearch.org/topic/list-of-court-cases-complaints-regulatory-actions-etc-96118

There has not been a single action, to-date, that might be interpreted as the government coming down on Bitcoin. To be fair, Doug Jackson had no indication they would be coming down on e-Gold either, ... until they did. But Bitcoin is not centralized like e-Gold.

I'm not saying Bitcoin's exchange rate wouldn't get pounded if there was a move towards outlawing bitcoin trading or commerce, but the technology it uses is such that it will likely survive and continue functioning even if that were to happen.

FTWbitcoinFTW

sr. member

Activity: 476

Merit: 250

First of all, hello folks

I thinks i got it, finally after a little week reading, digging, i GOT IT.
The basic pattern is almost clear in my head.
Need more knowledge about pgp, security and P2P basic rules, it's ok i'll continue my homeworks.

BUT my major concern about Bitcoin is the other factor, the one outside my hands.

I think the growth of bitcoin will worry more and more people. Those who decide and who have powers
So I think it's just a matter of time before they set to work and decide to falling bitcoin

I understand that the system itself is "secure", but the intermediaries may still be under pressure.

I think this is the weakest point and an offensive against those who direct the media and the banks it will be hard to resist.

I keep in mind the campaign against wikileaks and i thinks something similar can be set up against Bitcoin.

This is the only thing that stopping me from changing all my savings into Bitcoin

Someone for help me with this concern ?

Thanks and long life to bitcoin

Topic: My major concern about Bitcoin - page 2. (Read 2140 times)