Thanks for not answering my question,
What happens when the banks are having a lehman brothers moment, there is a bank run, however all the clients are demanding their money be sent to Bitstamp... The banks will say. NOPE. And bitcoin is not dead it just will never be given the grace for mass adoption.
I am not attacking bitcoin but rather the banking system and their xenophobic control of money.
Which is why the concept of auroracoin is somewhat fascinating as it will remove the need for the people to get involved via Fiat.
Unfortunately all value is derived from Fiat, the USD specifically.
Topic: Why gov'ts and banks do not fear bitcoin... (Read 1283 times)
i laughed so much reading these posts
1. america is not in power due to consumers, china has more consumers (population)
2. the 'world currency' is not controlled by consumers. its controlled with who owns the oil. this is why america goes to war, for oil. where other countries have morals and dont go to war over commodities, america takes the oil (not to consume with its population) to sell to other countries to give its dollar a value and be used as the pricing index.
...
1. america is not in power due to consumers, china has more consumers (population)
2. the 'world currency' is not controlled by consumers. its controlled with who owns the oil. this is why america goes to war, for oil. where other countries have morals and dont go to war over commodities, america takes the oil (not to consume with its population) to sell to other countries to give its dollar a value and be used as the pricing index.
...
So what happens when the accounts going into bitstamp and btc-e are shut down as it looks like a 'bank run' of cash flowing out of banks into those 2 exchanges, while only bitstamp is most legitimate actor in that space
we would certainly have much lower prices (20-50 USD?) but btc would still be there. lets hope that the mainactors see the opportunity in btc. new york and london are good examples in these days.
btc is "high speculative". if you fear to lose all your money, get out.
i laughed so much reading these posts
1. america is not in power due to consumers, china has more consumers (population)
2. the 'world currency' is not controlled by consumers. its controlled with who owns the oil. this is why america goes to war, for oil. where other countries have morals and dont go to war over commodities, america takes the oil (not to consume with its population) to sell to other countries to give its dollar a value and be used as the pricing index.
3. bitcoin being for "crackpots" is the brain fart of a noob in 2010. way to go, only 4 years behind the rest of us. bitcoin is used now in hundreds of thousands of retailers now, silk road is dead.
4. governments have legal tender laws to keep FIAT flowing. minimum wage laws to keep employees receiving a certain amount of FIAT they are not that worried.
5. "beneficial to let it happen" they cant 'let' it happen. they do not control bitcoin to let or stop it.. its happening with them or without them.. they have no choice. unless they destroy the internet and stop people meeting eachother to do face to face transactions.
1. america is not in power due to consumers, china has more consumers (population)
2. the 'world currency' is not controlled by consumers. its controlled with who owns the oil. this is why america goes to war, for oil. where other countries have morals and dont go to war over commodities, america takes the oil (not to consume with its population) to sell to other countries to give its dollar a value and be used as the pricing index.
3. bitcoin being for "crackpots" is the brain fart of a noob in 2010. way to go, only 4 years behind the rest of us. bitcoin is used now in hundreds of thousands of retailers now, silk road is dead.
4. governments have legal tender laws to keep FIAT flowing. minimum wage laws to keep employees receiving a certain amount of FIAT they are not that worried.
5. "beneficial to let it happen" they cant 'let' it happen. they do not control bitcoin to let or stop it.. its happening with them or without them.. they have no choice. unless they destroy the internet and stop people meeting eachother to do face to face transactions.
So what happens when the accounts going into bitstamp and btc-e are shut down as it looks like a 'bank run' of cash flowing out of banks into those 2 exchanges, while only bitstamp is most legitimate actor in that space
i laughed so much reading these posts
1. america is not in power due to consumers, china has more consumers (population)
2. the 'world currency' is not controlled by consumers. its controlled with who owns the oil. this is why america goes to war, for oil. where other countries have morals and dont go to war over commodities, america takes the oil (not to consume with its population) to sell to other countries to give its dollar a value and be used as the pricing index.
3. bitcoin being for "crackpots" is the brain fart of a noob in 2010. way to go, only 4 years behind the rest of us. bitcoin is used now in hundreds of thousands of retailers now, silk road is dead.
4. governments have legal tender laws to keep FIAT flowing. minimum wage laws to keep employees receiving a certain amount of FIAT they are not that worried.
5. "beneficial to let it happen" they cant 'let' it happen. they do not control bitcoin to let or stop it.. its happening with them or without them.. they have no choice. unless they destroy the internet and stop people meeting eachother to do face to face transactions.
1. america is not in power due to consumers, china has more consumers (population)
2. the 'world currency' is not controlled by consumers. its controlled with who owns the oil. this is why america goes to war, for oil. where other countries have morals and dont go to war over commodities, america takes the oil (not to consume with its population) to sell to other countries to give its dollar a value and be used as the pricing index.
3. bitcoin being for "crackpots" is the brain fart of a noob in 2010. way to go, only 4 years behind the rest of us. bitcoin is used now in hundreds of thousands of retailers now, silk road is dead.
4. governments have legal tender laws to keep FIAT flowing. minimum wage laws to keep employees receiving a certain amount of FIAT they are not that worried.
5. "beneficial to let it happen" they cant 'let' it happen. they do not control bitcoin to let or stop it.. its happening with them or without them.. they have no choice. unless they destroy the internet and stop people meeting eachother to do face to face transactions.
Quote
IF the USD does lose its status for currency, its going to be hell world wide. US is one of the biggest consumers.... without the US everyone else falls apart.
So the rest of the world should:
1. continue to encourage US to consume
2. provide for US goods to consume
3. expect to be paid in counterfeited US$ for the goods they provide
4. refrain from consuming themselves because those goods are needed for Uncle Sam
IF the USD does lose its status for currency, its going to be hell world wide. US is one of the biggest consumers.... without the US everyone else falls apart.
Goverenments and banks are not supposed to fear btc, they just need time to make different ways to operate with it, and after they make it they will have much more profits
This is much more a crackhead's casino that a even slightly mature market.
I've never done crack, and casinos suck once you find day trading.
I've never done crack, and casinos suck once you find day trading.
It might actually be beneficial for them to let Bitcoin happen...
For one, as I talked about in the following post, the USD is going to implode, and that puts China in a position to become the reserve currency and world leader. If China does attain that position, world war between China and the US+Japan is inevitable.
https://bitcointalksearch.org/topic/m.5462787
Unless they want nuclear war, both China and the US have to adopt Bitcoin.
For one, as I talked about in the following post, the USD is going to implode, and that puts China in a position to become the reserve currency and world leader. If China does attain that position, world war between China and the US+Japan is inevitable.
https://bitcointalksearch.org/topic/m.5462787
Unless they want nuclear war, both China and the US have to adopt Bitcoin.
Boy... that escalated quickly!
It might actually be beneficial for them to let Bitcoin happen...
For one, as I talked about in the following post, the USD is going to implode, and that puts China in a position to become the reserve currency and world leader. If China does attain that position, world war between China and the US+Japan is inevitable.
https://bitcointalksearch.org/topic/m.5462787
Unless they want nuclear war, both China and the US have to adopt Bitcoin.
For one, as I talked about in the following post, the USD is going to implode, and that puts China in a position to become the reserve currency and world leader. If China does attain that position, world war between China and the US+Japan is inevitable.
https://bitcointalksearch.org/topic/m.5462787
Unless they want nuclear war, both China and the US have to adopt Bitcoin.
Instead pointing why bitcoin might fail, lets look at it from another perspective, the govt cannot shut it down simply because it choses not to... yet via banning it.
Bitcoin is a rinkydinky mickymouse of a currency to the bankers and the government, which does have the potential to morph into something far greater and transformative, but at this point there is not a major rush into bitcoin like we have seen in the past, beyond here the price rise has quite a bit of risk built in the higher it goes.
Bitcoin might allow some activities to occur that the gov't would not like but it is far from a threat to them, for if it were a threat there would be politicians becoming vocal on supporting bitcoin, as well as against it, but so far every cog in the system they have pretty much said its bad, its malicious, its risky, its used for bad actors, are all true statements...
This is much more a crackhead's casino that a even slightly mature market.
I can imagine if and when there is ever a rush into bitcoin the fiat will be flowing into bitstamp and btc-e, if they sever those connections there is basically zero way for mass adoption to occur, however, this feat happening in Iceland sounds interesting on the surface(the air dropping of 50% of the auroracoin, time will tell to see how it plays out,
my point is, bitcoin adoption can get halted if it ever begins to get really serious. The fiat master really have a lot of control as to the future value of bitcoin.
I hope i am wrong and that bitcoin proves to be the best thing that has ever happened and more advances in science and technology continue to pop up over time..
Bitcoin is a rinkydinky mickymouse of a currency to the bankers and the government, which does have the potential to morph into something far greater and transformative, but at this point there is not a major rush into bitcoin like we have seen in the past, beyond here the price rise has quite a bit of risk built in the higher it goes.
Bitcoin might allow some activities to occur that the gov't would not like but it is far from a threat to them, for if it were a threat there would be politicians becoming vocal on supporting bitcoin, as well as against it, but so far every cog in the system they have pretty much said its bad, its malicious, its risky, its used for bad actors, are all true statements...
This is much more a crackhead's casino that a even slightly mature market.
I can imagine if and when there is ever a rush into bitcoin the fiat will be flowing into bitstamp and btc-e, if they sever those connections there is basically zero way for mass adoption to occur, however, this feat happening in Iceland sounds interesting on the surface(the air dropping of 50% of the auroracoin, time will tell to see how it plays out,
my point is, bitcoin adoption can get halted if it ever begins to get really serious. The fiat master really have a lot of control as to the future value of bitcoin.
I hope i am wrong and that bitcoin proves to be the best thing that has ever happened and more advances in science and technology continue to pop up over time..
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