BERNANKE SAYS BITCOIN WILL FAIL

>Was head of Federal Reserve
>Not in the (((inner circle)))

Yeah ok...

governments need an acceptable reason for them to implement that. they could have done the same thing for anyone using torrent software.

You know there are websites to schedule meetings at Starbucks for trading btc for cold hard cash right?

How will they stop that?

Good for ETH

The only coin.....

when was torrent software ever a threat to the government

>buy gold with bitcoin
>nothing happens because fuck you

lmao stay ,mad

when will ripple go up daddy?

This. You fucking kids disgust me. Ripple will only be used ,minimally, to move fiat around

10 years in jail for trading information in the "Land of the free"

Lmao

I know someone in prison for doing that.

die SEC Jew reptile.

i gave it as an example on how they cant just put laws that punish individuals that harshly without giving an acceptable reason.

they cant outright say "its a threat to our fiat currency" so lets treat everyone who holds it like a criminal.

that's not what regulation means

Virtually no country's laws would warrant that

Fake news

Oy vey. (((They))) don't want you to use Bitcoin, Goyim.

It's a threat to their financial institutions and they know it. They will do everything in their power to stop it Bitcoin and cryptocurrency from succeeding.

they'll say it supports terrorists, and suddenly problem solved

yes good luck with that

>You know there are websites to schedule meetings at Starbucks for trading btc for cold hard cash right?

What is money laundering?

Yeah, you go right ahead and play with THAT fire.

Idiot.

I'm not saying it is

huh because the US government supports israel the largest terror supporting nation in the world qwhich also has totally unregulated suitcase nukes and armed ICBMs

>I'VE BEEN TRYING TO TELL YOU FAGGOTS. YOU WON'T BEAT THE FEDS. THEY WILL REGULATE THE SHIT OUT OF CRYPTOS. JUST WATCH.
cuck

trading things for cash is a good way to launder money, but being afraid to use cash just makes you a good goy.

fiat is also used for terrorism, bitcoin transactions are actually quite transparent. even a college NEET can easily think of this response.

in fact its much easier to track bitcoin transactions because the data is publicly available.

didnt you read the Monero leak on how its easy for governments to track bitcoin fags? if you're worried about that, then dont hold Monero.

How was he caught?

Yep because that worked with drugs and guns and every other conceivable crime.

Central banks will have to issue their own cryptocurrency if they want to be part of the digital economy, once they do and decentralised exchanges become mainstream governments are out of luck.

>he got caught by my uncle (words for the CIA)
his dad works at nintendo as well

lmao... you think precious metals dealers don't report their sales? You're a special kind of stupid.

you are confusing "truth" with "what the government will argue the truth is"

we're talking about how the government can get away with shutting down bitcoin if they wanted to, not that they necessarily actually need to, nor that they would have to do it in a fair and truthful manner

Oh wow that sucks I already know lots about this sweetie.

i think you're being too paranoid and too anti-government lmao.

both those things are tools that hold legitimate power over the mainstream population; we all love drugs, and we all fear guns

bitcoin holds no such power except where it is valued, which would be only among criminals themselves - but really not there either, since criminals wants to interact with other markets than JUST the black ones, so fiat would get them further

Bit too late their mr. Noseburg.

Also a bit authoritarian.

Listen, you dumb fuck. We're not talking about cashing out your paltry $100 worth of btc. We're talking about large amounts.

And your pretty little graphic only accounts for federal requirements. Any licensed bullion dealer will have to file their sales EVERY MONTH with the fucking state. Do you understand this, sweetie? Every transaction is recorded, no matter how small. If said state's DOR wants to see who those transactions were made with you bet your ass the dealer will hand over his sales records post haste.

>muh murica

I think most of my /biz bros know this by now, but the rest of the world doesn't give a shit about you. I don't see your juden overlords taking any action aside from heavy regulation or even outright banning, their fear reinforces the idea we're onto a good thing and the rest of us will continue on without you. If crypto actually works you can enjoy our bags at such a time when a governing body is employed to protect you and certifies professionals to buy for you safely.

>what this means for us in the nearer term

Small dump as murifat norman shuffles his shekel to FIAT, knowing it was a scam all along. "Smart" murifat knows if he unloads his hodlings he isn't getting back in, as we saw with China when the money is already out of the establishment they are aware hard work has been done, the lucky have won, no whale is dumping.

What will (You) do user?

What are you even trying to argue?

One of the biggest powers any government has it the issuance and control of their own currency. You think governments all over the world will give that power up to Bitcoin?

Fat chance.

oh wow so is bitcoin now considered cash by the IRS? oh wait no it's not.

so even if it is, you can still buy how much in a period without being reported? oh, 9,999$ in a 24 hour period.

thanks for playing kike slave.

It's funny because this retarded little cuck doesn't even know what the fuck he's talking about

>federal requirements are different from monthly filings

Oh sweetie.

>What is structuring.

People get caught for it all the fucking time, moron. Christ you don't know DICK about the law do you...

if you think the government NEVER lies to you, then I have some bad news

I'm not anti government at all actually, just anti authoritarianism

look at this desperate kike trying to FUD the actual letter of the law about reporting not applying to bitcoin->gold transactions

jmbullion.com/faq/report-purchases-government/

>We do not report the majority of precious metals purchases to the government. That being said, we do have an obligation to file Form 8300 in the instance of cash payments over $10,000. The $10,000 minimum also applies to related cash transactions within 24 hours of each other that together total more than $10,000. Please note, cash includes cashier’s checks and money orders with a face value of $10,000 or less. For full details, view our infographic and video detailing bullion reporting requirements.

Stay mad retard.

...

I'm trying to argue that the chances of every country in the world making bitcoin illegal is so small.

You're arguing that governments will punish anyone holding bitcoin and wont have to give acceptable reasons. Anything can be argued in that manner.

> governments are corrupt and can do X thing without giving their citizens an acceptable reason

Why are you even investing in crypto if you're this paranoid?

b-b-but buy ripple r-r-right guys???

>You think governments all over the world will give that power up to Bitcoin?

the US government doesn't even issue the US "federal reserve" note, retard. they gave up their constitutional power to coin and regulate dollars to a group of incestuous jews like you

Holy ever loving fuck my ass Christ. Are you seriously this retarded?

Listen, you fucking brainlet: Every state in this union requires a sellers permit to conduct sales. That sellers permit has filing requirements. ALL SALES must be reported so that taxes can be properly assessed. What, you think that framed piece of paper issued by the state and hanging on the wall in literally every fucking business in the USA is just there for decoration?

Holy fuck...

You sound pretty mad.

Refer back to my previous infographic, retarded kike FUDder. When the requirements above are reached, then it is required to be reported according to federal standards.

Otherwise they do not record the transaction. Thank you for playing.

Thats exactly what theyll do. And you know what? Most people will eat that shit up and agree. People dont like cognitive dissonance.

Wrong.

The worst thing that could happen is every country only allowing accredited investors (rich fags) to hold crypto.

There is no real estate bubble

I can't count the amount of times I've heard normies chant "bitcoin funds terrorism" or "I heard North Korea makes bitcoin"

>> governments are corrupt and can do X thing without giving their citizens an acceptable reason

I'm not talking about smoking a little reefer or engaging in the oldest trade in the world. I'm talking about the stripping of one of the major powers a government has, and they will fight to protect it and keep it that way. Look at Greece as an example of a country who can't control their currency.

Also yes countries do in fact do what you describe all the time.
>hurrr fucking durr you're a jew

The only greedy fuck I see is you thinking bitcoin will all work out without even considering the very likely possibility that it won't. Go ahead and spout your memes little boy it's all you have.

Clearly you're smoking too much of that anarchist bong.

>Otherwise they do not record the transaction.

You are absolutely, 100% dead fucking wrong.

Let me dumb this down to the 3rd grade level for you, retard:

JM Bullion is based in Texas. To conduct business in Texas they are required to have a Sellers permit. Texas DOR walks into JM Bullion one day and wants to see their sales records.

"Uhhh... we don't record our sales"

Guess what happens? OUT OF FUCKING BUSINESS WITH A HUNDRED STATE AUDITORS UP YOUR ASS.

God you fucking children piss me off sometimes. You are so oblivious to how the real world operates it's fucking astounding.

>to hold crypto
you mean highly leveraged crypto iou's that will cause the actual coins to moon. sounds good to me.

Nobody cares what the US government does. It's a side issue.

He's right and you are a fucking idiot. Wow.

this

I see 1 scenarios playing with the US government regarding crpyto

1) They won't ban it but they'll heavily regulated it. Like the internet pre 2000s
They didn't ban the internet, but eventually starting implementing laws later during the years as of now.

If anything they are going to adopt crypto, so it wont replace the dollar but will be another security assets. Like stocks, CDs and Bonds.

Theirs a lot of money floating in crypto space, and even if the us pulls a china, other countries will welcome the users.

Also this. And those crypto-dollars will all inevitably be measured in terms of bitcoins.

If the gvts said you shitcoins are all gucci to go and FDIC approved etc. Trillions would pour into it

Bitcoin will fail, it needs to fail, in order for crypto to reach its full potential

I love how people aggressively argue for Bitcoin to fail by pointing out how draconian current regulation is. It's like a fucking slogan for why Bitcoin and cryptocurrency are so great.

The government doesn't make the market. They can only punish the people they catch. They can't force other countries to keep using USD forever. The US will slide into irrelevance precisely because they refuse to innovate and use repressive measures to maintain their dominance instead.

Doubtful. Even if it does it's a bubble that will pop.

Stocks, CDs, and Bonds are all back on goods, services, and faith in a particular government to repay them with the above.

Bitcoin backed by what exactly? The idea that it will be a world-wide currency at some point. That's pretty much the main selling point.

There's absolutely nothing wrong with being realistic.

The government doesn't make the market but it sure does facilitate it. Also what makes you think other countries are going to again give up the power that comes with controlling their own currency and hand it over to crypto?

Lay of the weeeeeeeed man.

I don't doubt digital currency or crypto. We are there in a lot of ways, I do doubt that governments will be hands off. Call me a FUDer or kike or whatever but at least I'm being honest and not drinking the kool-aid.

When all the flavor of the week ICO scam coins are gone and crypto doesn't have to worry about government interference (because it's already regulated), then so much more money will pour into this. Widespread adoption. Will compete with the stock market

>Also what makes you think other countries are going to again give up the power that comes with controlling their own currency and hand it over to crypto?

Maybe to make a business friendly environment where businesses can thrive and not be left behind eating dust like all countries that try to control crypto will end? Sooner or later they will have to accept that national currencies just aren't adequate for a globalized market and trying to ban crypto will only make your country end up like a third world shithole.

So one of the main benefits of bitcoin is that it's for the most part out of the governments control. So if they are going to let it be "regulated" and not adopted as currency then why are people trading it exactly? It's not backed on any tangible good or service. Why would the average Joe park his retirement there?

Yea things are good now but this is uncharted territory and anyone predicting anything and saying they are certain is someone I would watch out for as they are trying to game you.

What a pitch. All style, no substance. Go on explain why a business would want to park their assets in crypto any time soon?

I think he's telling the truth. Did anyone actually read his whole keynote speech? He wasn't necessarily arguing against bitcoin, just saying that governments would probably would shut it down if it ever became a threat. Which is accurate, governments will do what they do.

No because surely if you're serving a global market it is better to use hundreds of different currencies all controlled by different governments. Who would have thought that creating a token native to my network could be more efficient...

Why don't you create a competitor to Golem that instead of GNT pays in USD or JPY, or EUR, or whatever of the hundred different national currencies that exist.

You're just too dumb to understand that crypto isn't just a store of value, it is a form of payment that can be automated and caters to a global market.

Banning crypto is the most backward stupid decision you can make plain and simple.

>You're just too dumb to understand that crypto isn't just a store of value, it is a form of payment that can be automated and caters to a global market.

You just described a process involving money that happens millions of times a day.

pretty sure that was a movie about a train in siberia.

...

I don't like to say this because it's overused here, but you really are a moron.

Yep.

I see through your bullshit ,i though you were smart pointing out things that others chose to ignore about cryptos
But here
>So one of the main benefits of bitcoin is that it's for the most part out of the governments control. So if they are going to let it be "regulated" and not adopted as currency then why are people trading it exactly? It's not backed on any tangible good or service. Why would the average Joe park his retirement there?

You're just a peace of shit fudde you're probably the faggot that post smoking anime saying "bUy sToCkz", i dont wanna argue you why but i see through your bullshit not everyone is a dumb fuck here and will buy anything someone say bevause of fancy words , dig a dildo up you ass

wrong

thanks for playing retards

Ya. I guess it's really hard to go to a different county and cash out.

>So one of the main benefits of bitcoin is that it's for the most part out of the governments control. So if they are going to let it be "regulated" and not adopted as currency then why are people trading it exactly?

Up to here you were doing good. One of the main attractive points of cryptos in general is, indeed, to be able to escape monetary policies and monetary control.

If governments could effectively regulate bitcoin it would take no time before they forced coins to peg their value to inflation or some other BS that would make them lose their utility as value refuge.

>It's not backed on any tangible good or service. Why would the average Joe park his retirement there?

Here you fuck up, because it is backed up by tons of services and goods.

When I put my fiat into coinbase to buy bitcoins, what it means is that I'm working in exchange of bitcoins, when millions of people are working in exchange of bitcoins, you create a network of people who maybe don't trade directly but who are, de facto, pouring their labor into bitcoin. This generates a 3-directional barter.

In short, the value of bitcoin is as infinite as the productivity growth of those who accept bitcoins instead of fiat.

what a load of horseshit

Feel free to enlighten us, Schlomo

>eventually governments wil take any action to prevent that
eventually people like me will take any action to kill elite scumbags like you

Granted, I don't know if this was Ripple's intention.
But if you're trying to increase your brand
that's MAINLY BOUGHT BY BITCOIN
then why the fuck would you
create a situation
where this guy says shit like that?????

if you have 10 million you can just move to a different country that has no such law in effect. Bitcoin being global makes it impossible to stop. Even if the UN moved against it, there would be small states willing to profit by allowing it to exist in their borders.

Cant wait for this m8

> there are people planning on "cashing out" bitcoin for fiat

Understand: if you do this, you are hopelessly fucking stupid. That is not up for debate either, just know that you are.

Trade your fucking shitcoins for fiat, if you trade just one bitcoin for worthless dollars, you are truly lost.

>"I don't think"
Yeah no shit Baldie McScruffy

Ripple will take the throne.

I don't give a shit. Black market here I come.

Looks like the criminals hate having competition.

If you are a SBO you should have a bitcoin wallet, no exceptions.

Pretty soon there will be no need for $.

>“Eventually governments will take any action they need to prevent [that],” he said.

The only way to do that is to cripple the internet and lmao enjoy that shitstorm.

Maybe if taxes weren't assrapishly high compared to the generations before us people wouldn't be finding innovative new ways to tell the IRS to sod off.