Who might realistically pose a threat to bitcoin? - page 2.

niko

hero member

Activity: 756

Merit: 501

There is more to Bitcoin than bitcoins.

Quote from: Fuzzy on June 30, 2012, 02:32:08 AM

You're bypassing the very channels the government uses to track finances. If they can't track or observe the money, they can't impose their rules and regulations on it, which is a threat to their tax base. One person doing this isn't an issue, but if everyone started to do this, there would be trouble, to say the least.

While I personally think what you're doing is great, I would also advise you to stay diligent in using caution.

I think the only reason I'm bypassing the usual channels is simply because of obscurity and novelty of bitcoin today. If and when it becomes significant, it will also be regulated. I will most likely keep using it. Those who embraced bitcoin with the hope of avoiding taxation or fighting the government will move on to something else. In my opinion they should really stop trying to solve their problem by running away from it.

Fuzzy

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Merit: 500

Quote from: niko on June 30, 2012, 02:23:31 AM

Quote from: Fuzzy on June 30, 2012, 02:01:56 AM

Quote from: LightRider on June 30, 2012, 01:50:14 AM

There is no threat to bitcoin.

The very aim of Bitcoin is to undermine the entities who control the world by controlling money. To say that there is no threat to Bitcoin is optimistic.

I've been using Bitcoin to transfer and exchange government money between Canada and the US. I'm also cautiosly using Bitcoin as a store of value. I spend significant ammount of time on this forum. I used to mine back in the days (sic!).
I fail to see how my usage of btc is undermining anyone or anything significantly.

EDIT: I should add that I've had a few lengthy conversations with a very experienced corporate tax accountant with regards to bitcoin.

You're bypassing the very channels the government uses to track finances. If they can't track or observe the money, they can't impose their rules and regulations on it, which is a threat to their tax base. One person doing this isn't an issue, but if everyone started to do this, there would be trouble, to say the least.

While I personally think what you're doing is great, I would also advise you to stay diligent in using caution.

niko

hero member

Activity: 756

Merit: 501

There is more to Bitcoin than bitcoins.

Quote from: Fuzzy on June 30, 2012, 02:01:56 AM

Quote from: LightRider on June 30, 2012, 01:50:14 AM

There is no threat to bitcoin.

The very aim of Bitcoin is to undermine the entities who control the world by controlling money. To say that there is no threat to Bitcoin is optimistic.

I've been using Bitcoin to transfer and exchange government money between Canada and the US. I'm also cautiosly using Bitcoin as a store of value. I spend significant ammount of time on this forum. I used to mine back in the days (sic!).
I fail to see how my usage of btc is undermining anyone or anything significantly.

Fuzzy

hero member

Activity: 560

Merit: 500

Quote from: LightRider on June 30, 2012, 01:50:14 AM

There is no threat to bitcoin.

The very aim of Bitcoin is to undermine the entities who control the world by controlling money. To say that there is no threat to Bitcoin is optimistic.

Quote from: AmazonStuff on June 30, 2012, 01:59:13 AM

I think there will be a lot of attack's in the future by everyone from the list, but none of them can cause serious damage.

I'm amazed and at the same time disturbed at how much faith people have in Bitcoin. There are powers out there that can overthrow whole countries in the pursuit of their own interests.

While I wish Bitcoin was as strong as everyone imagines it to be, such carefree faith has brought down many a giant in the past.

AmazonStuff

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Merit: 500

I think there will be a lot of attack's in the future by everyone from the list, but none of them can cause serious damage.

LightRider

legendary

Activity: 1500

Merit: 1022

I advocate the Zeitgeist Movement & Venus Project.

There is no threat to bitcoin. There may be attacks against the bitcoin economy. The technical foundation of bitcoin will likely fail only if foreseeable problems are not addressed as soon as possible, allowing an entrenched interest to maintain the statusquo for their own benefit and allow the entire economy to go down with it. Since the problems would be only technical in nature, and we as a species are very good at solving technical problems, then it would likely not be a real threat. The threats to humanity come from our own crippling traditions, and hopefully we shift away from destructive models and methodologies, including the abandonment of bitcoin, and money altogether, and towards a meaningful global social awareness and community.

Fuzzy

hero member

Activity: 560

Merit: 500

The threat will escalate through all of the listed entities until either Bitcoin (or any other form of competing monetary threat) dies or those posing a threat are no longer in a position of power.

We have/are already seeing the "individuals" hacking and DDOSing bitcoin, though those efforts are mostly for profit, not necessarily aimed at killing Bitcoin.

Next we will see the "private" try to first beat Bitcoin, then failing that, they will enlist "government" to do their dirty work.

In the end, the big boys (bilderbergs/rothschilds/rockefellers) will pull whatever strings they see fit, usually under the guise of the above entities, to herd the rats back into the cage and onto the running wheels.

Thus the cycle of monetary control and enslavement that has been repeating over the past centuries continues. Good times

niko

hero member

Activity: 756

Merit: 501

There is more to Bitcoin than bitcoins.

Please give it some thought before voting and discussing, so as to avoid simply stating your political and philosophical biases instead of providing a realistic, sober analysis.

Many people on this forum presume that bitcoin will eventually come under serious attack. Most often it's stated that "a government" is expected to attack bitcoin for some reason, or for no reason at all. Other culprits might include certain corporations, or unintended consequences of actions of users or groups of users (for example, the doomsday scenarios discussed in relation to ASIC mining).

On the other hand, perhaps you think that some or all of the above entities might actually find reasons to embrace bitcoin rather than destroy it.

Topic: Who might realistically pose a threat to bitcoin? - page 2. (Read 2839 times)