Can Governments Stop Bitcoin?

Quillete ^ | 21 February 2021 | Alex Gladstein

[BiglyCommentary]

That meaningless story just shows how little you know. Banks don’t make loans based on future possible bonuses, whether in bitcoins or bananas. And you if you are getting piad in bitcoins as your salary, what bank s going to give you a loan based in in US dollars for a mortgage. THEY WON’T. More evidence you have little real world experience or knowledge.

[amorphous]

Sorry, but the government banned untraceable gold, when men were men, and women were women. Not many resisted. If they could ban gold back then, those in government can ban anything they want to, now. There may be a few who go out fighting, but not enough to matter. And you'll not here about the fate of the resistance fighters in today's news.

To fight them, you have to be prepared, quicker, and smarter than they are. With today's technology, they're like the orkin man, and we the people, insects.

[BiglyCommentary]

I’ve been filling out Section 1256 Contracts and Straddles forms longer than you have probably been alive. I’m certain you have not a clue what those are.

[M Kehoe]

Hi.

Good post.

I didn’t see mentioned that there are only 21 billion Bitcoins available? Maybe I missed it.

Think about this. What if the Treasury stopped printing dollars for a month.

5.56mm

[MinorityRepublican]

I would recommend to anyone to stop using it if the government in your jurisdiction outlaws it.

Obviously, the black market will continue to use Bitcoin if cash is banned in the future. Even if the penalty of using Bitcoin is death, that won't stop people from using it.

[amorphous]

For a month? Probably hoodrats would be having a white fat politician over for a barbecue, as the main course. Which is why that's never going to happen, long as they got electricity to run the printers 24/7.

[M Kehoe]

LOL.

True, but the value would skyrocket against all other currencies.

5.56mm

[amorphous]

People will do what they have to do to survive, or simply to get what they want. I can only recommend to follow the law.

[amorphous]

Sure it would. But, that’s dreaming. It’s not going to happen in the real world. More likely, if something caused banking to suddenly stop, there would be rioting and looting in the streets. Civilization would quickly deteriorate to what you see in movies. Which is why I often mention, what we have in place now for trade is a recipe for disaster. Our very lives, and civilization itself, now depends upon the availability of the power grid and the internet. Take out either, and millions will die. The most important thing you can do for yourself, and family, is to get prepared for just such an event.

[GOPJ]

“Not your keys, not your coins,” first popularized by Bitcoin educator Andreas Antonopoulos, is a community mantra. With more than 10 percent of the American population using Bitcoin, if enough people self-custody, then a 6102 attack would be of limited effect. Given that the keys to your Bitcoin account are typically in the form of 24 seed words that can be written down, hidden, encoded, or memorized, a military home-by-home raid couldn’t work very well and would constitute a mass set of human rights violations.

Revolutionary stuff... power to the people...

[amorphous]

I’ve been filling out...

If you're just some ol' fart spouting off, then I will ease up on you newbly... :)

Have a nice day!

[amorphous]

Revolutionary stuff... power to the people...

Indeed.

[amorphous]

Microstrategy Buys Additional $1 Billion Bitcoins For $52,765 Average Price

https://www.zerohedge.com/crypto/microstrategy-buys-1-billion-bitcoin-52765-average-price

[amorphous]

Related to the general discussion:

Silver Squeeze post goes viral on WallStreetBets

https://www.zerohedge.com/news/2021-02-23/silver-squeeze-post-goes-viral-wallstreetbets-gets-removed-reposted-here-zh