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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 21640. (Read 26609738 times)

hero member
Activity: 910
Merit: 1003
This sounds like a plan; funny that almost the same thing has been proposed by Yianis Varoufakis as an antidote to the Greek economic disease - in the midst of his contradictory beliefs about "the usage of BTC as a currency is a totally flawed idea" to begin with. Nevertheless; there's a funny coincidence here, which I don't find particularly random... Wink

Damn! I thought that I could continue freely bullshitting about bitcoin and Merkle chains through this sockpuppet while wrestling with Merkel under my Ministerially respectable true identity.  Oh well...
legendary
Activity: 1484
Merit: 1002
Strange, yet attractive.
Sure, a government cannot easily prevent its citizens from issuing transactions.  But why should it?
Typically the goals of a government will be to prevent its citizens from bringing certain items into the country (like drugs or weapons), take other items out (like national heritage artifacts, gold, diamonds), being bribed or financed by foreign corporations or governments, and giving the national currency to foreigners. 

Sure, each government would like to keep the monopoly for their own profit; makes perfect sense! Smiley

The first two are physical border and mail policing problems that do not depend on how the item was paid.  (Importers of illegal items are generally nabbed when they receive or try to colelct them.) 
The other two uses are partially caught when the citizen tries to spend the bitcoins locally, or convert them to cash. So they can be curbed by closing local bitcoin exchanges or imposing strict AML/KYC measures on them, control of bank accounts, banning bitcoin from e-commerce and large property sales (vehicles, real estate, etc.)  Which is pretty much what China did.

Well; not really. China just made a couple of moves that seriously disrupted the BTC price (but at the same time, no one can say for sure if their acts were the actual reason). The incentive could be a whole lot different though... I guess we will know within the next decade if you're right or not.

The only remaining use of bitcoins that a government may be unhappy about is corrupt officials and subversives being paid in bitcoin but saving them until a later time, when they leave the country.  But, in that case, a bitcoin bribe is no different than a dollar bribe deposited in a foreign bank, in the guy's name.
Bitcoin is often claimed to be a way to take one's wealth out of a county, bypassing the government's currency controls.  But while it works for the individual, its effect on the country's economy is quite different from the usual ways of "taking one's wealth out".

Unhappy? I beg your pardon Jorge; this is how the governmental machine rolls! Bitcoin / Moneroj / Fiat / Diamonds or PM, the spice should always flow. Or else!

The usual ways are taking valuable propery (gold, antiquities,etc.) out, and/or selling local property (cars, real estate) for foreign currency to buyers abroad, and/or exchanging the national currency for some foreign currency, either before or after moving out.  The the currency exchange route ends placing some of the national currency in the hands of foreigners.  Either way the country gets poorer, which is why governments often try to limit such transactions.

The situation is different when the citizen uses bitcoin to "take his wealth out".  If he already had bitcoins, it is like him having euros or dollars in a bank account in Switzerland; the money was already out of the country to begin with.  If he exchanges his local currency and/or concrete wealth for bitcoins in the local market, these items will pass to other citizens: the country will not get poorer, and the average citizen will get slightly richer.  (It is the Americans who will become slightly poorer when he moves to the US and starts spending his bitcoins.)

This sounds like a plan; funny that almost the same thing has been proposed by Yianis Varoufakis as an antidote to the Greek economic disease - in the midst of his contradictory beliefs about "the usage of BTC as a currency is a totally flawed idea" to begin with. Nevertheless; there's a funny coincidence here, which I don't find particularly random... Wink
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1428
Merit: 1000
Is The Price Of Bitcoin Going To Bounce Back?

http://www.forbes.com/sites/quora/2015/05/28/is-the-price-of-bitcoin-going-to-bounce-back/


Quote
but I am very comfortable being long on bitcoin, and I’m going to remain so.

ForbesMagazine of billionaires confirming imminence of New uptrend!
legendary
Activity: 1078
Merit: 1441
Good morning Bitcoinland.

Still going sideways.

Yawn.


still and always

Which is literally the only thing it will not do.

Good one.
hero member
Activity: 910
Merit: 1003
This is an extraordinary Tweet from Andreas M Antonopoulos:
Governments try to ban bitcoin? LOL
The image below includes a signed bitcoin transaction transferring $12m USD.

https://pbs.twimg.com/media/CGDHoYiU0AEQXze.jpg

Sure, a government cannot easily prevent its citizens from issuing transactions.  But why should it?

Typically the goals of a government will be to prevent its citizens from bringing certain items into the country (like drugs or weapons), take other items out (like national heritage artifacts, gold, diamonds), being bribed or financed by foreign corporations or governments, and giving the national currency to foreigners. 

The first two are physical border and mail policing problems that do not depend on how the item was paid.  (Importers of illegal items are generally nabbed when they receive or try to colelct them.) 

The other two uses are partially caught when the citizen tries to spend the bitcoins locally, or convert them to cash. So they can be curbed by closing local bitcoin exchanges or imposing strict AML/KYC measures on them, control of bank accounts, banning bitcoin from e-commerce and large property sales (vehicles, real estate, etc.)  Which is pretty much what China did.

The only remaining use of bitcoins that a government may be unhappy about is corrupt officials and subversives being paid in bitcoin but saving them until a later time, when they leave the country.  But, in that case, a bitcoin bribe is no different than a dollar bribe deposited in a foreign bank, in the guy's name.

Bitcoin is often claimed to be a way to take one's wealth out of a county, bypassing the government's currency controls.  But while it works for the individual, its effect on the country's economy is quite different from the usual ways of "taking one's wealth out".

The usual ways are taking valuable propery (gold, antiquities,etc.) out, and/or selling local property (cars, real estate) for foreign currency to buyers abroad, and/or exchanging the national currency for some foreign currency, either before or after moving out.  The the currency exchange route ends placing some of the national currency in the hands of foreigners.  Either way the country gets poorer, which is why governments often try to limit such transactions.

The situation is different when the citizen uses bitcoin to "take his wealth out".  If he already had bitcoins, it is like him having euros or dollars in a bank account in Switzerland; the money was already out of the country to begin with.  If he exchanges his local currency and/or concrete wealth for bitcoins in the local market, these items will pass to other citizens: the country will not get poorer, and the average citizen will get slightly richer.  (It is the Americans who will become slightly poorer when he moves to the US and starts spending his bitcoins.)
sr. member
Activity: 406
Merit: 251
If anyone wants to swim in stupidity then this article should fit the bill:

http://www.coindesk.com/think-tank-debate-bitcoin-mining-environment/

Think Tank is a bit of an oxymoron in this case. Filled with morons.

Aha! Bitcoin isn't tanking. It's think tanking!
legendary
Activity: 1260
Merit: 1002
If anyone wants to swim in stupidity then this article should fit the bill:

http://www.coindesk.com/think-tank-debate-bitcoin-mining-environment/

Think Tank is a bit of an oxymoron in this case. Filled with morons.

legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
full member
Activity: 280
Merit: 100
Good morning Bitcoinland.

Still going sideways.

Yawn.


still and always
hero member
Activity: 574
Merit: 500
the one circumstance that has slowed BTC down is the transfer of fiat paper to get to the coin; now that various exchanges can link bank accounts to the BTC, the MP's are now admitting their love affair with crypto.
 Wink
legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
If anyone wants to swim in stupidity then this article should fit the bill:

http://www.coindesk.com/think-tank-debate-bitcoin-mining-environment/

Think Tank is a bit of an oxymoron in this case. Filled with morons.
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
So, the NY bit license should come tomorrow. Then what? (Yes, speculate wildly please!)

Whoever wants one needs to dick around for several weeks/ months until they're awarded one.

Maybe it'll prompt a fresh wave of companies who've been holding back until then. Like almost all the good news it's long term baby steps rather than immediately explosive.  
legendary
Activity: 1498
Merit: 1000
During an interview, DFS Superintendent Lawsky indicated the BitLicense would be out at the 'End' of may. However, this could be similar to 'Soon,' and 'Two Weeks'.
BitLiesence
sr. member
Activity: 258
Merit: 250
During an interview, DFS Superintendent Lawsky indicated the BitLicense would be out at the 'End' of may. However, this could be similar to 'Soon,' and 'Two Weeks'.
legendary
Activity: 929
Merit: 1000
So, the NY bit license should come tomorrow. Then what? (Yes, speculate wildly please!)


Bitlicense is Bitcoins executioner! It could be that one event that will help to finally  break that (non-existent) support @ 2xx and send it down into the dark chasms where it belongs!

Prepare for

D O U B L E    D I G I T S !


Where does it say the NY bit license should come tomorrow? I cannot find any conclusive date on Google, only one reddit thread backed up by nothing. I'm sure it would be all over Google if it was due out tomorrow.
hero member
Activity: 504
Merit: 500
Moderator
So, the NY bit license should come tomorrow. Then what? (Yes, speculate wildly please!)


Bitlicense is Bitcoins executioner! It could be that one event that will help to finally  break that (non-existent) support @ 2xx and send it down into the dark chasms where it belongs!

Prepare for glory,

prepare for



D O U B L E    D I G I T S !
hero member
Activity: 966
Merit: 1000
It's Not Enough
Barry Silbert: Western Union Will Be Crushed by Bitcoin.

https://www.youtube.com/watch?v=rs4KPTcX2-Y

Western Union? Isn't that how people mailed each other money back in the 1900s? Is still even a thing?

western union is a joke, nowadays
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
sr. member
Activity: 406
Merit: 251
So, the NY bit license should come tomorrow. Then what? (Yes, speculate wildly please!)
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