Trouble for Cryptocurrencies?

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Hahah, wow, sounds like a certain government is worried that people aren't interested in a certain national currency with falling value.

But shouldn't they be worried that the Taiwan dollar is slowly taking ground from USD?

Or is this government really going to throw around words like "criminal" and "terrorist," like we care anymore?
 
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I think people need to seperate Crypto-currency from Crypto-scarcity or Crypto-gold. BTC can be used like a currency if you get in and out almost instantly. Otherwise its risky to conduct transactions with it. It's a speculative investment mostly. But other currencies like more like currency and less like gold.
 
drutman said:
Wait until the IRS hits you for their share it will not be pleasant.
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I'm thinking Joe is gonna try and tax them to worthlessness.
It was a good run while it lasted guys.
How about trading 10,000 Bitcoin for 2 Papa John's pizzas?
 
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Let's face it, the answer to this rhetorical question is No, there are too many people too invested in it, and unless something absolutely drastic were to happen there may be some market dips but it will adjust and things will continue rolling.
 
Jagger100 said:
I think people need to seperate Crypto-currency from Crypto-scarcity or Crypto-gold. BTC can be used like a currency if you get in and out almost instantly. Otherwise its risky to conduct transactions with it. It's a speculative investment mostly. But other currencies like more like currency and less like gold.
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just curious, which ones? they all seem pretty volatile
 
I like this statement,
"Cryptocurrencies are digital currencies that have no physical form and are not controlled by a centralized authority such as a central bank.
This means they are largely unregulated and untraceable, making them appealing to criminals."

So, if it's untraceable, how do they know it's used mainly for illicit activities?
 
I mean really, is anyone surprised that a nearly untraceable currency is popular with people who don't want to be traced? There are lots and lots of reasons to not want to be traced, not all of them are evil. Yeah, we know that crypto is still primarily used for criminal enterprise and all, but it's so much harder to track down than green backs were.

Crypto was invented by criminals for criminals, but not just any old criminals. slavers, kiddie diddlers, drug smugglers, and snuff peddlers. GW Bush hit them hard and they just found a new way, same way it has always worked since the dawn of human civilisation. Only now they're even harder to track down, adversity is the mother of innovation and all that. Sweeping, heavy handed legislation lead to crypto. More sweeping, heavy handed legislation is incredibly unlikely to make all of these practices go away.
 
We should just stop using currency all together and everything is free.

Of course that wont solve the problem still.

We should close this thread because it is just going to become a soapbox :)
 
Zepher said:
I like this statement,
"Cryptocurrencies are digital currencies that have no physical form and are not controlled by a centralized authority such as a central bank.
This means they are largely unregulated and untraceable, making them appealing to criminals."

So, if it's untraceable, how do they know it's used mainly for illicit activities?
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Because you can't use it for anything else.
 
Parja said:
Not sure if joking or misunderstanding "Keynesian".
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mnewxcv said:
reference to Obama being Kenyan...
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Was joking, yes I know Keynesian economics, I spoofed it because Yellen has been called a "dove" and "To the fingertip Keynesian" economics.
Yet that article expressed she wants government control of all flow of money, that's Monetarist but it's implying she's the worst of both, if you have any fluid fiat that thus far has no central authority or regulations.

and no had nothing to do with Obama's country of origin, more about how Kenya has no economic growth.
Kenya's_GDP_per_capita_since_independence.png
 
griff30 said:
Was joking, yes I know Keynesian economics, I spoofed it because Yellen has been called a "dove" and "To the fingertip Keynesian" economics.
Yet that article expressed she wants government control of all flow of money, that's Monetarist but it's implying she's the worst of both, if you have any fluid fiat that thus far has no central authority or regulations.

and no had nothing to do with Obama's country of origin, more about how Kenya has no economic growth.
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my mistake!
 
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