Topic: They are coming with a new way to attack Crypto currencies! (Read 1305 times)
good for different purposes. Really? I mean, for the benefit of the public, do you think the government will not study it first and then step forward to create something like that. Obviously the government will face one of the first places and their blockchain will never work the way they want. But if I were a government, I would never be against the public at such a level.
So rightly we deduce money and taxes do not pay, that's the conclusion that the government is dissatisfied
What are you saying? Should people stop paying taxes to stop this from happing? This will just give them the match to light the fire, if people start doing that. They are doing this to get full control, so if you stop paying taxes with Crypto currencies and you are using these Permissioned Blockchains, then they have access to your money and they can do the transfer of those tokens without your permission.
This is the danger of giving governments full control over your money, they will find an excuse to take it or to block you from accessing it. https://www.usatoday.com/story/money/business/2013/07/29/bank-of-cyprus-depositors-lose-savings/2595837/
So rightly we deduce money and taxes do not pay, that's the conclusion that the government is dissatisfied
That's exactly what I thought it will happen. Governments and banks know that they can't destroy or take down bitcoin so the only thing they can do is create their own coins and get them in the top so that they can take control of the market. But the difference is that their coins are not decentralized and they can control them so that people can't do any transactions without them knowing about them.
Governments are probably going to attract some people to their coin since they will present it as the new future without taxes, of course they are going to lie because they know how to manipulate the population. But we, the persons that already know about this should take notice of their plan and be prepared for it.
Governments are probably going to attract some people to their coin since they will present it as the new future without taxes, of course they are going to lie because they know how to manipulate the population. But we, the persons that already know about this should take notice of their plan and be prepared for it.
With every new day there is always a new day for them to try and attack cryptocurrencies, I just wonder how long it will take until they finally realize that there is nothing that they can actually do to stop cryptocurrencies.
I don't see a global or even local (i.e. USA) trying to ban permissionless blockchains. I do see large corporations utilizing permissioned blockchains to protect their "sensitive" data and dealings. Permissionless blockchains are too big and have too much money behind them for any potential of being "BAN" imho.
Things just got interesting 
After being unsuccessful in trying to bring down bitcoin, they'll be coming up with more ways to bring it down. As if the bad media press releases are enough. Permissined blockchains is the first step in the chsin of attacks to bring centralization into the space. Right now, I don't invest at all if the project isn't fully blockchain based (permissionless blockchains to be specific). Thanks for the heads-up!
After being unsuccessful in trying to bring down bitcoin, they'll be coming up with more ways to bring it down. As if the bad media press releases are enough. Permissined blockchains is the first step in the chsin of attacks to bring centralization into the space. Right now, I don't invest at all if the project isn't fully blockchain based (permissionless blockchains to be specific). Thanks for the heads-up! 
These coins will adhere to all AML/KYC regulations and they will have full control over what transactions will be mined. They will be able to "blacklist" and "reverse" transactions and even block certain addresses, because they control the Blockchain.
Doesn't this eliminate the main purpose of blockchain? Having control over a blockchain sounds and is totally ridiculous. It shouldn't be called a blockchain then,it should be called a public database. I am now seeing a lot of ICOs tricking their investors to buy their shit tokens/coin first and then force the investors to submit KYC documents or their will be gone forever. This is not something that we want but unfortunately nothing can be done about it now. Were people smart enough to identify scammy shits before itself,we wouldn't be here.
At the moment I don't see some real danger for Bitcoin and other cryptocurrencies.
These new coins might be supported by governments but that doesn't mean they will have the support of users. And that doesn't mean you will not have the choice to use the cryptocurrency you want.
It's understandable that governments want to control currencies but that still doesn't mean this will be successful project that will actualy live.
There's no need to ban bitcoin and similar cryptos by the government. It's enough in the current situation that they force the exchanges (only real exit points from cryptos to fiat, except localbitcoins) to implement KYC/AML and that will make selling coins really hard if not impossible in the future.These new coins might be supported by governments but that doesn't mean they will have the support of users. And that doesn't mean you will not have the choice to use the cryptocurrency you want.
It's understandable that governments want to control currencies but that still doesn't mean this will be successful project that will actualy live.
This can be a real threat, as long as merchants won't accept bitcoin directly for their goods and services. When will merchants accept bitcoin directly? When they can pay with their bitcoin income for their expenses, costs. If they can not, they can try to exchange it, but if the exchanges are regulated, this also will be hard.
Thats the only way they can control permissionless blockchains, the entry and exit points.
Otherwise we are free to own and to trade crypto as we like even if there are no exchanges.
I think that by supporting the private blockchains we are turning our backs on the initial idea of satoshi, being decentralized, this will have consequences and the crypto market will have more control by authorities, handling it at will.
The reason why bitcoin was even programmed by Satoshi Nakamoto is because its permission less. We are all supporting bitcoin because it is decentralized. We are tired of being controlled by the government or central banks. There are many of us believing in bitcoin and decentralized cryptocurrencies. We are not falling into traps for these outright attacks on bitcoin.
I agree. Permissioned blockchains will be controlled by the ones who started it. It's time we tell people the difference. However, Bitcoin will stay as it is so there should be no problem. The only thing is that huge companies might overcome Bitcoin if ever they had really good marketing.
Regardless of Governments, things are already centralized even in mining where the Governments may actually involve theirs heads by diving into these companies that send miners to their users and/or ask them to take KYC of their users. Nowadays, all the ICOs ask for KYC even for an airdrop amount, and you know what? People give their documents for just a few bucks (and sometimes, even pennies). What would these ICOs do with our KYC? They will surely give them to their Government Officials to keep themselves safe and let the game going. Who is in danger now? The users who gave their KYC, be it for the purpose of some airdrop tokens or due to their investments. I would ask just 1 question to everyone out here: These Governments say that they are trying to protect us by going to REGULATE crypto. Now think twice and tell me, who are they trying to protect? Regulations will not do anything but just f*ck our asses by making us their slaves once again as this is the only thing that's our weapon to fight their all-time traditional banking systems which have been looting us since years and making rich richer, poor poorer!
I guess once they see bitcoin whitepaper then they should have known it should not be a private one.
They will make it as narrow as they can for people to move. Soon we will all be in one space that they can easily erase.
We have no choice but to make people learn what ceypto should be. It will not be different with fiat if they will be in control.
Again, once money is related they want a grip of it.
They will make it as narrow as they can for people to move. Soon we will all be in one space that they can easily erase.
We have no choice but to make people learn what ceypto should be. It will not be different with fiat if they will be in control.
Again, once money is related they want a grip of it.
Sounds like something the government would want to do because they know that bitcoin and other cryptocurrencies takes away their ability to control the money of the masses so they need a new way to control it.
I would not be worried about the threat of such news. I am convinced that bitcoin still has a strong vision that bitcoin is raised to be free from any government regulation and purely in control by its users.
'Let's not support permissioned blockchains', yet Ripple has tended to have 10%-20 of the market.
https://www.forbes.com/sites/jasonbloomberg/2018/03/10/we-need-to-shut-bitcoin-and-all-other-cryptocurrencies-down-heres-why/#7153f03b1bca
Their strategy is simple :
Make a clear division between Permissionless vs. Permissioned Blockchains and act accordingly. This will effectively mean that all Permissionless Blockchains will get targeted and Permissioned Blockchains will be supported.
Your typical BankCoins and GovCoins will be Permissioned Blockchains and they will be controlled by centralized authorities. These coins will adhere to all AML/KYC regulations and they will have full control over what transactions will be mined. They will be able to "blacklist" and "reverse" transactions and even block certain addresses, because they control the Blockchain.
We will see them banning "Public" Blockchains and allowing government verified "Private" Blockchains soon. This is coming, because a lot of people are pushing for this.
Let's educate people on the dangers of these "Private" / "Permissioned" Blockchains and stop investing in them.
Their strategy is simple :
Make a clear division between Permissionless vs. Permissioned Blockchains and act accordingly. This will effectively mean that all Permissionless Blockchains will get targeted and Permissioned Blockchains will be supported.
Your typical BankCoins and GovCoins will be Permissioned Blockchains and they will be controlled by centralized authorities. These coins will adhere to all AML/KYC regulations and they will have full control over what transactions will be mined. They will be able to "blacklist" and "reverse" transactions and even block certain addresses, because they control the Blockchain.
We will see them banning "Public" Blockchains and allowing government verified "Private" Blockchains soon. This is coming, because a lot of people are pushing for this.
Let's educate people on the dangers of these "Private" / "Permissioned" Blockchains and stop investing in them.
Really? Is that even possible to do? I mean what about the public interest, don't you think government wont study that first and then take the step forward to form something like that. I mean if they really make it happen (permiossionable blockchain) then the first thing that will happen is people will go crazy about it and will revolt against it. Obviously government will have to face that one in first place and their blockchain will never work the way they want. I am definitely sure that government will have to have both things on board or either way they will have to make a midway which will keep both the things in legal manner. But if I were the government then I will never go against the public on such mass level. That's public decision too bro.
If bitcoin becomes "not decentralized cryptocurrency" anymore, I don't think many people will still go with it since we all know that if bitcoin becomes controlled by government especially those corrupted once. Chances are the essence or identity of bitcoin may change or be gone forever.
~Actually, i dont care centralize or decentralize at all, the only question is that which one will do real help to the world development, centralize may have much problems but it can solve more problems, decentralize need to prove itself that it can do something that we truely need
we are talking about a "currency" here not a magical weapon. a currency is not exactly created to solve problems. it is just a tool that people use as a medium of exchange and being centralized or decentralized means they have different attributes and these attributes create a very different tool which is good for different purposes.
but they can create problems. for example being centralized has led to corruptions in the past.
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