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/biz/ - Business & Finance

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28714597 No.28714597 [Reply] [Original]

Serious question?
Why wouldn't they ban ownership of Bitcoin when they did it with gold in the 1930's.
The economic conditions were similar and they didn't want ownership of alternative asset limit the central banks ability to print money.
Why would this time be different?

>> No.28714669

>>28714597
you can't ban bitcoin, that's the whole point. retard.

>> No.28714684

Because BTC is global.

>> No.28714722

>>28714597
Because (((they))) are on the verge of losing total control of the simulation this time. I don't think you realize how shaky things are right now. One little pin prick and everything blows up at this point, they're really just delaying the inevitable.

>> No.28714764

>>28714597
>>>/r/buttcoin

>> No.28714789

>>28714669
Cope, of course they can. It's entirely public

>> No.28714794

>>28714597
And yet people still owned Gold. Weird huh?

>> No.28714831

>>28714597
Banning Bitcoin literally proves that it did its job. Because banning Bitcoin means they ban the internet lol. This is check, mate comes in June.

>> No.28714883

>>28714669
>>28714684
Okay, so what happens with fiat on/off ramps?
Don't you think the people who held gold in the 1930's reasoned the same way?
Sure, they might have kept their gold for 35 years, buried in there back-yard but it the purchasing power declined due to it being illegal to hold.

Gold was global.
In theory you couldn't "ban" gold either.

>> No.28715106

>>28714794
>>28714831
But what happens to the price if they ban fiat on/off ramps?
The situation is very similar to the one which faced gold during the 1930's.

You could hide your gold and maybe trade it with some people...
But it was very hard for new money to enter and leave, so the price declined 90 + %.

>> No.28715129

>>28714883

So what's your mechanism for banning it? The cops going to come round and confiscated everyone's hardware wallets? Is every country on the planet going to agree to ban it?

I mean, think it through, anon.

>> No.28715203

>>28715129
Make it illegal to sell or buy

>> No.28715205

>>28714789
>It's entirely public
go ahead and stop it then

>> No.28715307

>>28714597
The US government could and this is my biggest worry. I knew about Bitcoin in 2012 and loved the political implications of honest money. But never bought because I realised how threatening it would be to governments and their ability to debase and rob people with fiat scam.
I still have not purchased any cryptocurrency because I fear the government will use collectivist propaganda, same as banning gold to confiscate or ban Bitcoin.
My plan is to leave the USA in the next 5 years and I am thinking about buying Bitcoin with cash into private wallet so no KYC, no taxes, and no US government knowledge that I have crypto.
Any thoughts?
I feel like owning Bitcoin linked to your SSN is a sucker play as I can already hear the arguments they will make. "Greedy hoarders are causing the inflation we need to work together to save the economy. Everyone needs to give their crypto to the Fed".
Any ideas frens?

>> No.28715311

>>28715203

Yeah, like drugs....

>> No.28715434

>>28715129
"Everyone who does not declare they own Bitcoin and surrender it to the Federal Reserve, or attempts to buy or sell any cryptocurrency in the USA goes to jail for 20 years"
Also see my post
>>28715307

>> No.28715447

>>28715129
Are you retarded or something?
In practice it's hard to force everybody to turn in their hardware wallets, just like how it was hard to tell people to turn in the gold they had buried in their backyard.

BUUUT (this is what you retards don't get) if public trade of bitcoin (or gold) is not allowed, then it virtually becomes useless as a medium of exchange.
What happens when they ban hedge funds from owning it? What happens when they ban all crypto exchanges? What happens when any entity which do public audits can't hold it anymore?

Sure, you COULD still do some complicated transactions p2p, but forget about any fiat on/off ramps -> hence the price will take a hard hit just like gold did.

>> No.28715598

>>28715447
>Are you retarded or something?

No, retarded is the guy thinking there would be a comprehensive, coordinated global ban on crypto that would be enforcable.

That's you, anon.

>> No.28715619

>>28715106
Well if you consider it to be a digital version of gold you can send anywhere in the world in less than 30 minutes as long as you have an internet connection, you will always have a buyer. But essentially if fiat on/off ramps are banned you’d probably want to trade your BTC for physical assets. Something like real estate, land, something that’ll appreciate in value. Unfortunately since BTC is a one of a kind asset, it’s literally better to hold and never sell since nothing else will generate asset value like it. Think of it as a way to defeat the money printer.

>> No.28715670
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28715670

>>28715307
>I still have not purchased any cryptocurrency because I fear the government will use collectivist propaganda, same as banning gold to confiscate or ban Bitcoin.

you are retarded and ngmi. bye bye

>> No.28715708

>>28714669
Hypothetically, what's stopping the banks from flat out refusing anyone to cash out of Crypto, and denying people from buying into Crypto?
What's stopping the government from cracking down on Paypal and other alternatives to online banking once they're the only way to exchange crypto and fiat?

>> No.28715727

>>28714789
>We are banning torrenting!

>> No.28715763

>>28715708

Which banks? Which governments?

>> No.28715768

>>28714789
>"It's time, Secretary Goldbergrowski..."
>"Prepare to disable the bitcoins"
>"Your Presidency, please forgive my insolence, but in order to disable the bitcoins, we will have to turn off the internet!"
>"THEN YOU WILL TURN OFF THE INTERNET, FOOL"
>"We will contact the owner of the internet immediately, forgive me, Your Legitimacy"

>> No.28715800

>>28714669
they can do anything.

>> No.28715809

>>28715307
>you knew about Bitcoin in 2013
>you were fully aware of the social and political implications
>you haven't killed yourself yet
Yeah, I'm sure this totally happened anon

>> No.28715848

>>28715708
The jews unironically. If the jews wanted BTC banned it would have been done years ago. But they don't want that, it's too much of a money opportunity for them.

>> No.28715880

>>28715763
All of the banks that work under the Fed, and by government I mean the US federal government.
Your only option would be to move elsewhere

>> No.28715885

>>28715203
>make it illegal to sell or buy
this law would make would dVPN's skyrocket in price. Very bullish

>> No.28715930

>>28715768
I like how retards don't understand that banning fiat on/off ramps and publicly holding Bitcoin will kill it's price, just like what happened with gold.

I hold $350k in crypto so I don't want this to happen, but I don't like weak arguments either.

>> No.28715990

>>28715809
>>28715670
Well, yeah. It sucks and like I said I think I'll start buying with localbitcoins with cash.
Of course the government has not attempted to ban it yet because the high levels of inflation and USD currency crisis has not yet occured. That is 2-3 years away.

>> No.28716009

>>28715930
Jews are holding this shit and will need to cash out. It's not gonna happen unless every jew cashes out first.

>> No.28716048

>>28715447
Your retarded way of screaming ackshully shows how stupid you are.

To answer your (bad) point: I don't need an on/off ramp with USD, or any fiat. I need to be able to buy and sell goods with this thing. Down to gift cards, I will barter my way around if that's what it takes. I will accumulate, and accumulate, and get fucking wealthy as hell.

Same as I set up a proxy server or use an indifferent ISP for torrenting, I'll simply use a mixer for my btc and trade small or large amounts from multiple wallets and get what I need, when I need.
All you'll do is make it easier for people like me to get more, and if I only have to wait 35 or 60 years to make it, all's the better for when I do.
I would love of hedge funds were out of crypto, leads to less malicious actors.

>> No.28716112

>>28715598
>coordinated global ban on crypto that would be enforcable
That argument is probably the most legit argument.
However, I do think it would be enough for either EU and/or USA to ban it to kill the price development.
Global enforcement isn't necessary.
Similar argument could be made for gold in the 1930's (Better with Bitcoin than gold though, since it's easier to get out of a country, that would be true).
I'm not sure that would be enough to not tank the price though.

>> No.28716147

>>28714669
Yeah and governments clearly give a fuck. CCP vanned Jack Ma and only released him recently and Teslas getting BTFO by Bidens administration. Billions wont save you from dudes who seek power not money

>> No.28716230

>>28714669
They can make owning BTC or using or accepting it to make purchases illegal, which is pretty much the same thing. Of course, PROVING that someone owns or uses BTC in transactions is a totally different matter.

>> No.28716308

>>28715990
>Of course the government has not attempted to ban it yet because the high levels of inflation and USD currency crisis has not yet occured.
You get it.
They don't feel the need yet.
But if they really do need to inflate away their national debt and Bitcoin would stand in way of that... Then there's a high chance they will ban all public trade of Bitcoin and kill all fiat on/off ramps.
The price will take a really hard hit and it will be hard for new money to enter.

>> No.28716320

>>28715598
1. force ISPs to know what every single bit on their network is for (this already is the case)
2. force ISP to ban any traffic related to crypto

if it's unclear in any way, to achieve point 1 you just make it so that only whitelisted traffic can pass (i.e., google, facebook, instagram). everything else blocked by default

this would be trivial to implement

>> No.28716408

why did people even stand for the gold ban, lol
that is the most cucked shit

>> No.28716424

>>28716230
They tried that with weed and everyone in the country smokes that shit every day.

>> No.28716449

Its weird how all the muh banned crypto, muh taxes, muh dirty money posting never occurs when crypto crashes

>> No.28716472

>>28714597
>>28714669
They will do it to bitcoin. The president right now without passing any laws can legally confiscate your meme coins.
India banned bit coin now (or soon).

The whole point of this is so you the peasant can never be rich again. You must stay a wage slave in their system and eat ze bugz

>> No.28716477

More likely it would get heavily regulated/monitored. Like bank transactions.

A complete ban would actually be good. Didn’t do anything for the price of snow.

>> No.28716515

>>28716308
At that point it would be even more bullish for bitcoin, if they would be inflating the dollar that much there would be a crack-up boom not just into BTC but literally any asset.

>> No.28716541

>>28714597
Alcohol was also once banned... You could sit around and philosophically jerk your cock about hypotheticals, but this isn't the era of "banning" things anymore in such a barbaric fashion.

If the slow to move dipshit parasites in both parties became determined enough to try and and ban bitcoin, then they would be doing it out of last minute desperation which would mean the dollar would be on its deathbed with widespread knowledge of the fact and BTC already worth hundreds of thousands. The amount of attention and tension in that situation would probably just make things worse for the parasite class, as in at the very least it would be very politically very unpopular with even major companies (Tesla probably merely being one of the first) holding BTC. What's more likely is cryptochads just buying out the politicians so they are unwilling to stoop to such measures even if the existence of BTC seems to accelerate the dollar's demise. The incentives that politicians are apart of could easily change to induce them into allowing that, the system is a shitshow it can't be expected to react intelligibly and capably to a threat like bitcoin.

https://www.businessinsider.in/tech/news/a-senator-has-urged-elon-musk-to-move-to-wyoming-as-it-has-the-best-laws-for-bitcoin-and-is-the-perfect-state-for-innovation/articleshow/80895881.cms

>> No.28716544

>>28716048
>I will barter my way around if that's what it takes.
Lol, you're really emotionally attached to your bag.
Funny thing is that my bag is probably bigger than yours, I'm simply trying to prepare for potential risks.

You're ngmi.

>> No.28716667

>>28714597
Because the CIA is literally pushing BTC. This is ironically, the easiest way to keep track of everybody's money. Also, a 51% attack is dirt cheap for something like a US gov.

>> No.28716668

>>28716009
Are you implying that jews were not holding gold in 30s?

>> No.28716687

>>28716541
Maybe we need to form a /biz/ lobby and start bugging the piss out of politicians until they do what we want. Seems to be how the system operates in general.

>> No.28716712

>>28714722
Memecoin was the banks pet project. In the future after collapse all money will be the world banks digital currency (meme coin). It may not be a one world currency at first but I have no doubt it will be in the future.

Xrp schizo anon said the new currency will have a negative interest rate so you the wagie will have to spend fast or its gone (like gainz in memecoin)

>> No.28716733

>>28714597
The best the government can hope for is co-opting crypto and blockchain tech, and trying to have as much influence as they can. FedCoin is a real possibility, and would probably be enough to placate the plebs (90% of the population) while the real players continue stockholding bitcoin.

>> No.28716759

>>28716668
I'm implying they cashed out, crashed and then swung the market--which is obviously true.

>> No.28716782

>>28716472
>India banned bit coin now (or soon).
Both Nigeria and India banned crypto the past month.
Their purchasing power is too small to make a dent on the price, It'll still be interesting to follow how well they can enforce it and if people still try to trade it.

>> No.28716819

>>28716320
>this would be trivial to implement

Not globally it wouldn't. And given the burgeoning status of crypto, you'd basically eb handing that section of the economy to all of the countries that didn't ban it.

>> No.28716822

>>28714669
literally all they have to do is call coinbase and that tanks the price significantly

>> No.28716828

>>28715880
Oh so America would accelerate its collapse even further. Gotcha

>> No.28716832

>>28716712
USD already has a negative interest rate, inflation

>> No.28716876

>>28716477
Isn't Bitcoin suppose to be "digital gold".
Look at the price chart I posted in thread start.
The price got completely killed when they banned gold.

>> No.28716885

>>28716320
>1. force ISPs to know what every single bit on their network is for (this already is the case)
Are you retarded? As long as you connect through TLS they have no idea what is transferred.

>> No.28716945

>>28716515
They did it in 1930's and 1940's to inflate the debt away, the gold price still tanked.

>> No.28716980
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28716980

>>28714669
public ledger, retard.

>> No.28716999
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28716999

>>28716472
>The president right now without passing any laws can legally confiscate your meme coins.
German police can't even confiscate 60 million euro of defrauded money in bitcoin after the guy spent 2 years in prison refusing to give up the seed.

You newfags need to cuck off. I love cunny

>> No.28717017

>>28716308
Exactly. I think USA could ban fiat exchanges based on what India is talking about. Government mega brrr "crypto" aka FEDcoin.
I am planning on moving to asia in less than 5 years for life so the bet was that fiat/crypto exchanges there would keep operating.
Very conflicted if I should buy on exchange tied to SSN and taxes and govt known and tracked, buy with cash, or stay away from crypto.

>> No.28717034

It's such an America-centric view, this shit.

You guys don't even have fucking Binance.

>> No.28717112

>>28717034
I'm sorry Ranjes but most people don't consider India to be the center of the world

>> No.28717258

>>28715129
>>28714831
>>28714669
IP ban all exchanges and forbid all bank2btc transactions.
bitcoin remains, it's value drops to zero.

>> No.28717366

>>28717258
>IP ban all exchanges and forbid all bank2btc transactions.

HOW WOULD THIS WORK GLOBALLY?

Let's say Biden enacts an executive order tomorrow doing it; the rest of the world isn't going to give a fuck.

>> No.28717452

>>28717366
Biden is obviously a puppet of global international banking interests you mongoloid

>> No.28717495

>>28714597
Because bitcoin can move globally and nothing they can do will stop it

>> No.28717494

>>28717017
You can buy now (maybe not exactly now since we're literally in FOMO bubble stage).
Try to do it with cash if you can, don't put in anything you wouldn't be okay with losing 90 % of.

I hold like $350k in it, but I still want to be objective about the potential risks and how likely they are to occur.

>> No.28717592

>>28717258
It's sad that people don't understand that this is a real risk.
I only hold money I am willing to lose 90 + % of due to risks like this.
So far I see no good arguments against this risk.

>> No.28717604

Because institutions are invested in bitcoin and institutions control the government.
>but what if they did anywaaaays
Then id buy some cheap corns i guess

>> No.28717675

>>28716999
I'm talking global recession, not now.
Just look at coof lockdowns this happened via gov authority under emergency

>> No.28717707

>>28714597
Just hodl for 50 years for that fat 20x gains baby

>> No.28718041

>>28717366
it doesn't need to work globally to destroy btc, just US and EU ban would be more than enough. but i'd say the US has incredible power to assert it's positions all over the world.
they made NZ arrest kimdotcom for damn petty things.
so you'll be able to trade bitcoin in russia and perhaps iran - it won't be relevant to me, you or anyone else on this mexican cartel skin peeling forum

>> No.28718044

>>28717366
>HOW WOULD THIS WORK GLOBALLY?
We get this and I don't think it matters for the price in the scenarios we pose.
Just answer me;
If USA and/or EU banned all public transactions of bitcoin (no crypto exchanges, no hedge funds can hold it, no publicly audited entities can hold it) then what would happen with the price?

>> No.28719186
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28719186

>>28717604

>> No.28719583

>>28718041
Don't think they can shut down exchanges nobody runs in other countries (RUNE)

>> No.28719703

>>28715880
move?
You can take a one weekend vacation to a single crypto friendly country, sell, and claim/pay taxes on your fiat on your way back in

are they going to make fiat money illegal too?
unlike gold or anything else, they can't stop you from taking crypto elsewhere, or ban anything you could possibly trade it for coming back in.

>> No.28719910

>>28717604
it's the only good point as to "why it won't happen". but it's still easy to solve - don't crush, freeze it and give everyone an exit option via tether. this way everyone gets their money back, incl. the big funds.

>> No.28720155

>>28719703
>are they going to make fiat money illegal too?
are you blind? they're doing it as we speak

>> No.28720317

>>28715768
We already have nodes talking via HAM radio

>> No.28720490

>>28717258
holy shit the world's biggest government-caused pnd

>> No.28720508

>>28714597
A major sell off would occur, 80-90% correction likely. Most alts fall through the floor and never recover.
On the other side of this, mining stays competitive, and difficulty may drop inviting true believers to join in. Bitcoin now becomes a closed black market ecosystem where the barrier to entry is set so high, anyone still holding can be a king (if you're willing to sell to some of the world's most despicable people)
What people miss about BTC is it's not the coins themselves that are valuable (which is why boomers don't understand money you can't hold) it's the properties of the protocol that are valuable. On and off ramps being shut down completely destroys the narrative of store-of-value or any serious investment perspective, but then it becomes the world's most powerful black market money. Offline deals exchanging cash for Bitcoin will be rampant. Articles shouting about how only criminals use Bitcoin will be a self-fulfilling prophecy.

>> No.28720574

>>28718041
lol fully cyber world War

>> No.28720647

>>28720508
Not to mention that by shutting down fiat ramps, Bitcoin becomes instantly more private by default.

>> No.28720789

I hope they try. It will just get stronger.

>> No.28720788

>>28714669
>barge into miner rigs
>trash them all to pieces

>> No.28720843

>>28714669
You can ban fiat on ramps

>> No.28721380

>>28720843
Crypto is the future. Any government who tries to stop it will just be left behind from the rest of the world.

>> No.28721450

>>28714789

They couldn't even stop streaming or torrenting.