We must make all cryptocurrency as we know it today illegal.

MrGuvernment

MrGuvernment

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Really...

https://www.forbes.com/sites/jasonb...cryptocurrencies-down-heres-why/#5622c37f1bca

Last week I wrote an article on illicit cryptomining – how hackers are sneaking cryptocurrency transaction processing software onto corporate networks, personal computers, and other devices. I attempted to raise the alarm, calling this threat the most dangerous of 2018.

I didn’t go far enough.

Upon deeper reflection, the implications of illicit cryptomining are profoundly frightening. Because this type of cyberattack is ‘relatively’ benign – for certain definitions of ‘relatively’ – it’s positioned to run amuck, taking over computers, networks, data centers, and cloud environments around the world.

Perhaps there’s a way to stop this insidious infection from killing its host, which is nothing less than the global computing infrastructure. To be sure, cybersecurity vendors are already on the job.

In my opinion, however, prevention and mitigation technologies will never work well enough. There’s only one way to slay this beast. We must make all cryptocurrency as we know it today illegal.
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thing about crypto is its pretty dang hard to make illegal. It carrys a death sentence in Venezuela (?) but yet anyone with a small amount of computer skills could quite easily own crypto there. the only option even close to viable is banning exchanges but that would only dent it not stop it. and that would just effet the us. its impossilbe to ban crypto from the world and alot of these exploits are coming from outside the us.
 
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MacLeod said:
Hell if it means I can finally buy a GPU that's not 300% over MSRP and actually in stock, I'm game.
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Ebay would be flooded with used hardware.


Want a 580 for 30 bucks? It would happen.
 
oblox said:
No it won't. You can't kill or ban anything P2P.
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you'd be surprised. much of the boom was caused by investors. If the sec hammers it, the market won't go away, but it will get crushed like it is now.
 
You know they make a crypto currency hacker box you can build. First you need to purchase 12 GPUs....
 
I want my time from just skimming that garbage article. just an ad for ripple which is a scam coin.
 
oblox said:
No it won't. You can't kill or ban anything P2P.
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technically they could ban all encrypted network traffic which would kinda kill it but that would have a MASSIVE effect on so much more then crypto.
 
cpuspeed said:
I want my time from just skimming that garbage article. just an ad for ripple which is a scam coin.
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How is ripple a scam coin?

Considering the backing Ripple as a company has for using it's tech and it is already in production for some banks and in test phases for American Express / Amex in the UK. I know the coin can be separate but all that backing gives the coin a hell of a lot more backing than 99.9999% of most coins
 
MrGuvernment said:
How is ripple a scam coin?

Considering the backing Ripple as a company has for using it's tech and it is already in production for some banks and in test phases for American Express / Amex in the UK. I know the coin can be separate but all that backing gives the coin a hell of a lot more backing than 99.9999% of most coins
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thats actuall one of the things that makes ripple worse then the rest. ripple is managed by a privet company meaning EVERYTHING that company wants can and will happen. they can manipulate coins as they want distribute coins as they want and alter transactions as they want. You have to trust the privet company which is kinda the exact opposite of what you want. most cryptos are governed by preset rules verifiable by everyone and anyone, for those rules to change the crypto needs to fork. That requires both invester and miner support. so all of those cryptos are backed by pretty solid rules as oposed to being backed by a company who may or may not be good.

another example. its pretty much impossilbe for anyone to take my monero if i have a privet key and the internet exists i will have that monero.

if i had some ripple and for whatever reason the privet company decided they didnt like that, i would have no more ripple.

cryptos are not ment to be backed by any party. they are ment to be backed by themselfs.

In addition the price of ripple is manipulated to hell because it can be.
 
MrGuvernment said:
How is ripple a scam coin?

Considering the backing Ripple as a company has for using it's tech and it is already in production for some banks and in test phases for American Express / Amex in the UK. I know the coin can be separate but all that backing gives the coin a hell of a lot more backing than 99.9999% of most coins
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100% pre-mined. They literally printed their own money and then made press releases as if banks are using it to give it some perceived value. Banks aren't touching XRP and never will. The company has other software that a few banks use as instant messaging chat when transferring real money between them. This other software has nothing to do with XRP and any BS the company uses to allege future integration with XRP is utter bullshit trying to give some worth to XPR.

Again they printed their own money which is a scam. They've given the impression Banks are using it to transfer money, again that is a scam.

The garbage article in the OP makes the argument permission-less cyrpto should be illegal. So a coin anyone can mine should be illegal because it should require some permission to mine but straight up print your own money 100% premined already and you decide when and how much to release on the market is somehow not permission-less and therefore ok. OP article is a fine example of the propaganda pumping XRP.
 
You could make the possession or trade of all cryptocurrency globally illegal, with an immediate death penalty to be carried out on the spot, and any country could send their anti crypto task force into any other county to eliminate people - and it would still exist.

Would have to completely scrap the entire world's internet and start over with some new system that would never allow any encrypted or secured connections to ever exist anywhere. Yes I know this is insane, but I honestly can think of no possible way to actually stop the crypto machine.
 
Verge said:
you'd be surprised. much of the boom was caused by investors. If the sec hammers it, the market won't go away, but it will get crushed like it is now.
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The SEC doesn't regulate the world but I agree there would be a setback. Having said that, regulation doesn't mean illegal and there is no indication that is the direction the U.S. is taking. Certainly not after other regulators (CFTC) allowed futures trading.
 
The only US talk on regulation in crypto is in regards to ICOs and presale tokens coins, etc because of the inherent ability to scam investors. There was a recent meeting with the SEC and CFTC heads in front of the Senate Banking committee last month and they basically gave their blessing to the idea of crypto as a new technology. This is far far from any discussion of making crypto illegal in general.
 
MacLeod cry me a river.

cpuspeed You are 100% correct. Wish more folks would actually understand what they read (or skim) over.

Crypto is the greatest laundering honeypot ever invented in human history.

Additionally, this space will never take off unless basic AML/KYC frameworks are in place and enforced.

This is 2018, not the wild west.
 
Verge said:
They can't even eat. Good luck.
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If you could import 10 million foil pokemon cards and a mere 4 tons of food, You could start a currency and basically own a large part of their total economy. Bonus points if you can start supplying the military run black market across the border and demand poke' cards in payment.

atp1916 said:
Crypto is the greatest laundering honeypot ever invented in human history.
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It is a godsend to the invented industry that is AML. What the industry/govt spends versus what they stop in terms of money laundering has got to be comically out of balance. :p
 
Verge said:
Technically USDT and USD should be together... although the amount of USDT should freaking terrify people.
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Yup. I'm not sure if I see crypto disappearing completely at this point regardless of what happens, but a Tether collapse would probably set it back years.
 
While I think a global currency other than drugs is needed, and I like crypto coins in general, I think the lack of rules and control will eventually bring problems. Eventually one or possibly many, of the scam coins, are going to hurt/tarnish the rest and create enough doubt it will eventually sink the ones that are not scams. Ride the wave while it lasts I say, but in the end, something is only valuable is another person wants to buy it....
 
ob1 said:
While I think a global currency other than drugs is needed, and I like crypto coins in general, I think the lack of rules and control will eventually bring problems. Eventually one or possibly many, of the scam coins, are going to hurt/tarnish the rest and create enough doubt it will eventually sink the ones that are not scams. Ride the wave while it lasts I say, but in the end, something is only valuable is another person wants to buy it....
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There are already scam coins out (Bitcoin gold and ripple are the larger ones) I actually enjoy the complete lack of regulations. You can look and stocks and they are far from perfect even with a comparably large amount of regulations and I don't want to see crypto take the same path
 
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Governments may think they can regulate crypto, but they never will. Bitcoin started it and was created one way. And it is meant to be decentralized. No banks, No governments.
 
Airbrushkid said:
Governments may think they can regulate crypto, but they never will. Bitcoin started it and was created one way. And it is meant to be decentralized. No banks, No governments.
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The issue comes with exchanges which can easily be monitored and regulated. Forcuantly as more places accept crypto that becomes no issue
 
Icy006 said:
Yup. I'm not sure if I see crypto disappearing completely at this point regardless of what happens, but a Tether collapse would probably set it back years.
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It's incoming, they are definitely not back by USD.
 
Why make it illegal? If you don't like it, don't mine or buy any of it? Pretty simple?

You can still find cards at MSRP, just have to be quick.
 
Hagrid said:
Why make it illegal? If you don't like it, don't mine or buy any of it? Pretty simple?

You can still find cards at MSRP, just have to be quick.
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Or know what to look for. I buy firepros at what would be considered stupid cheap even before mining. The only people really hurting are the ones who are dead set on ~1080 ti level of prefermance. And those people should just buy a overpriced one and mine on it till it is a normal price. Or buy a titan
 
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