/biz/ - Business & Finance

[Anonymous No.19510696]

If the governments of the world felt that their currencies were in danger because of the growing use of crypto, wouldn't they outright ban it, bringing it value close to zero?

[Anonymous No.19510721]

Or they could just bust into Bitcoin headquarters and arrest everyone.

[Anonymous No.19510727]

the fed already controls crypto

[Anonymous No.19510741]

>>19510696
Cryptocurrency (PoW) is regulated by the CFTC newfag. Scamcoins will probably always be scams. i.e US business will never be able to handle unregistered securities.

[Anonymous No.19510760]

>>19510721
i dont get why they have done this

[Anonymous No.19510835]

>>19510741
I am a /sci/ fag and I don't understand economics.
Say it in english pls

[Anonymous No.19510919]

problem is, even in such a situation, certain jurisdictions like tax haven countries and other financial sector powerhouse countries would greatly benefit from playing contrarian and nurturing crypto business

a place like switzerland and Singapore would benefit by providing bank accounts to large crypto holders to sell into fiat, other countries like Belarus are giving incentives to e-businesses and made crypto tax free for some time i believe.

Basically, a worldwide ban on this stuff just isnt gonna happen, only the countries that want to execute large economic leverage by using their currency would be concerned. Everyone else is incentived not to comply.

Sadly, its countries with such powers like the U.S and China that may one day decide to act harshly

[Anonymous No.19511007]

>>19510835
Back in '15 the fate of regulation for PoW coins (Bitcoin) was decided. Its not regulated by the SEC (who regulated the stock market) its regulated by the CFTC (who regulate commodities & futures). These ICOs are unregistered securities that don't have the protection of the CFTC (who are based AF btw) they fall under the remit of the SEC (who are not based at all).

Just so we are clear cryptocurrency is defined as below. These ICO 'cryptos' aren't cryptocurrency, they are simply blockchain. The simple answer is that they use the term 'crypto' to give the scam credence.

Cryptocurrency - a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

[Anonymous No.19511171]

>>19510696
Crypto, is fucking useless. Their are plenty of use cases to buy things online, where I’m like, I wish I can just use BTC to buy this, it would make my life easier, and no one still uses it.

[Anonymous No.19511240]

>>19510696
>If the governments of the world felt that their currencies were in danger because of the growing use of crypto, wouldn't they outright ban it, bringing it value close to zero?

No , they would ban them and pump it to the fucking moon due to all trade moving to cash without kyc allowing all the dark economy to enter into a p2p bank without taxes or controls.

It would be the most bullish thing ever.

>>19510835
Many cryptos like btc are already traded on the stock market , the us government can't ban them , others country may , but in every country they banned them the p2p trade incerased hard , the best statistic of that can be seen on localbitcoins cash trades removal.

As soon as localbitcoins removed cash trades their weekly trade ammount collapsed and 10 alternatives like localcryptos or bisq appeared.

I can't even tell you how bullish a total ban would be , also a total ban would destroy big exchanges and make shorting hard as fuck since all liquidity would move to p2p trade.

It would be insanely bullish god i get hard thinking of a crypto ban.

[Anonymous No.19511291]

>>19510696
it's enough if 1 government accepts it (or just inefficeint at hunting it down) and gives shelter to the infrastructure, then everyone everywhere in the world with access to the internet and a tor browser can do whatever they want in the crypto world

[Anonymous No.19511309]

>>19511171
Thats because the market decided that small blocks and using it as a p2p bank account was a better use case than paypal 2.

They were not wrong, there are a shit ton of alternatives to paypal but only btc to use as a p2p crypto bank.

I can buy btc in europe and sell them at argentina bypassing all capital controls if i want , while i can't do that with paypal.

BTC found it's niche which is why central bankers are scared they never expected it to succeed they laughed about it for years and yet it worked.

At the peak of 2017 btc reached a marketcap bigger than the uk or russia yearly exports all by itself and with 50 usd fees due to massive spam tx due to the hashwars.

Crypto is here to stay and eventually the regulators that hate it will learn to love it as it fixes a lot of problems that they can't fix due to politics.
The entire wire system has been collapsing and central bankers can't do shit because politicians keep creating regulations that collide against each other and crypto thriving will force the politicians to allow them to fix the system.

[Anonymous No.19511350]

>>19510696
they'd just be bringing it down to it's real value

[Anonymous No.19511353]

>>19511291
If they keep pushing then xmr & pos coins using tor thrive.
Most politicians are retarded but not that retarded , they have noticed that this ecosystem evolves against external pressures so they won't push.

China & Canada are benefiting hard from pow cryptos using excess hydro energy during rainy seasons, literally paying for the maintance of dams , they won't let this industry go down, even if they may not like that it can be used to avoid capital controls.

[Anonymous No.19511370]

>>19510696
they regulate it retard so they can profit and the banks are safe

[Anonymous No.19511412]

>>19510696
>bringing it value close to zero?
nah, back in '13 China keep 'Banning' BTC, sure it caused fluctuations this shit ain't gunna die, its only newfags that say that shit.

Just watch out for people shilling ICO coins (Link/XRP/EOS/ADA/ect), treat them all as scams. If someone calls BTC a shitcoin they just outed themselves as a newfag.

[Anonymous No.19511744]

>>19511412
>Initial coin offering - ICO
An initial coin offering or initial currency offering is a type of funding using cryptocurrencies.

I hate myself for being a nocoiner /sci/faggot, but doesn't your statement include all new coins?
I've been mining π network recently, as it is an accessible first step to crypto.

[Anonymous No.19511972]

>>19510696
No.
1) All countries in the world are self interested.
2) Game theory.
3) If USA bans BTC, Russia would allow it.

4) Therefore, it's not in any governments self interest to ban cryptocurrency. It would result in financial flight and probable brain drain.

Logic. You lack it.

[Anonymous No.19512397]

>>19511744
>include all new coins?
Sure the newer the coin the more higher likelihood of it being a a scam. The coins that are PoW are genrally considered 'safe'
A lot of people that mine these 'shitcoins' transfer to btc/eth

[Anonymous No.19512459]

>>19510696
You unironically cannot ban LOKI