Here is why a ban on cryptocurrencies may not be even possible

[troubled soul]

https://www.businessinsider.in/cryp...not-be-even-possible/articleshow/82741310.cms
Nice one

 

[Martin Everson]

Well you can't technically ban it but you can criminalize it. And for most law abiding citizens that is enough to stop them from using it.

 

[Silvio]

You can literally ban crypto in 2 minutes by one US Gov decision: any bank that accepts crypto-related funds will be disconnected from FedWire USD system and open to billions of dollars of fines for "financing terrorism\AML offences etc".

 

[void]

cool down guys
can it go to 25k? of course
even 10k? yes. is it likely? not much
does this episode change anything? no way
it's perfect time to buy cheaply

 

[Martin Everson]

Removing it from the banking system can be done via a executive order and its game over in minutes as you say. But removing its use in society is impossible. There are still crazy people that feel BTC has real value and is a store of wealth and such strange people you cannot convince otherwise. They will continue to use BTC in private in the shadows like meth addicts shooting up in dark alleys.

 

[Silvio]

Removing it from the banking system can be done via a executive order and its game over in minutes as you say. But removing its use in society is impossible. There are still crazy people that feel BTC has real value and is a store of wealth and such strange people you cannot convince otherwise. They will continue to use BTC in private in the shadows like meth addicts shooting up in dark alleys.

LOL

On a serious note, I think most of these real crypto enthusiasts that really care about their privacy are already using Monero/Z-Cash for a while now.

 

[troubled soul]

Removing it from the banking system can be done via a executive order and its game over in minutes as you say. But removing its use in society is impossible. There are still crazy people that feel BTC has real value and is a store of wealth and such strange people you cannot convince otherwise. They will continue to use BTC in private in the shadows like meth addicts shooting up in dark alleys.

Still today, Very few Real banks in the world Accepting payment from Crypto-related activity.
Already, a Kind of partial ban on Crypto Activity is all around the world. The funniest part is that where the Crypto ban is harder, the Biggest user are from that country

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
people figure a way out to use crypto.
It is easy to make Law. Just write it down on Paper. But It is very hard to implement. The Internet makes things even harder for the government. From the first day of the Internet Government and authority can not win against "Online piracy". They make law. People figure out new innovative ways for "Online piracy". They ban websites like Megaupload etc, Now people using Telegram and another service for that. It is next to impossible to fight Piracy on Telegram type of service. Gambling, Drug, black market, prostitution Government fighting from them for ages. Still Today No government claim victory over any of these.

“Do I not destroy my enemies when I make them my friends?”
― Abraham Lincoln

If you can not win over something, Just make them your friend. Some countries legalize gambling, drugs, and Prostitution as they know they can not win over them. Even some countries earn tax from this activity also.

In the case of the USA Crypto ban, the Swiss government allowed Finacial Crypto activity and earn money from them as usual.
You see most of the Crypto related Transfers are anonymous. It is very hard to trace which country and who is using Bitcoin at a large.
The real crypto user is still unknown. as Its Creator Satoshi Nakamoto. Even the mining power hash rate of some of the miners is still unknown. Even major mining pool has anonymous miner. No KYC in mining operation.

https://www.blockchain.com/charts/pools
After A decade also, Bitcoin is in Early-stage.

Price volatality is Diffrent game. But Person to Person money transfer without any central authority is Game Changer.
Same for Electic Car,
Tesla's share price is debatable but the Electic Car tech is a game changer.

 

[Martin Everson]

The real crypto user is still unknown. as Its Creator Satoshi Nakamoto.

Satoshi is just the US Government field testing blockchain technology to get the world used to the technology before they switch society to it. They want massive uptake of crypto and for people to familiarize themselves with the technology and feel comfortable. People would not accept such a new financial system if government lead the delivery so they use smoke and mirrors. Eventually they will kill of all these private projects via regulation and all Central Banks will release their own CBDC.

P.S Ok I will take my conspiracy hat off for today

 

[Silvio]

Tesla's share price is debatable but the Electic Car tech is a game changer.

Not really game changer at all, electric cars are an old tech from 200 years ago:
"The electric vehicle is nothing new. It will come as a surprise to many readers, but the electric car was invented almost 200 years ago, in 1832. In fact, the first electric vehicle was built 50 years before the first internal combustion engine vehicle (ICEV).

During the 1890s, EVs outnumbered other vehicles 10-to-1, and by 1912 there were 38,842 electric vehicles on the road.

In an era when America’s road system was poor and undeveloped, electric vehicles thrived as the vast majority of driving trips were short-distance, making an EV’s “range” a non-issue. However, some of the early EVs had a mileage range of 180 miles off a single charge! The picture below shows an early charging station in 1912"

Source:
https://investoramnesia.com/2020/08/09/speculation-innovation/
Nothing new under the sun.

 

[troubled soul]

Satoshi is just the US Government field testing blockchain technology to get the world used to the technology before they switch society to it. They want massive uptake of crypto and for people to familiarize themselves with the technology and feel comfortable. People would not accept such a new financial system if government lead the delivery so they use smoke and mirrors. Eventually they will kill of all these private projects via regulation and all Central Banks will release their own CBDC.

P.S Ok I will take my conspiracy hat off for today

OMG I never knew that

Not really game changer at all, electric cars are an old tech from 200 years ago:
"The electric vehicle is nothing new. It will come as a surprise to many readers, but the electric car was invented almost 200 years ago, in 1832. In fact, the first electric vehicle was built 50 years before the first internal combustion engine vehicle (ICEV).

During the 1890s, EVs outnumbered other vehicles 10-to-1, and by 1912 there were 38,842 electric vehicles on the road.

In an era when America’s road system was poor and undeveloped, electric vehicles thrived as the vast majority of driving trips were short-distance, making an EV’s “range” a non-issue. However, some of the early EVs had a mileage range of 180 miles off a single charge! The picture below shows an early charging station in 1912"

Source:
https://investoramnesia.com/2020/08/09/speculation-innovation/
Nothing new under the sun.

I saw documentary on "How big oil company finish the EV car industry" on YouTube long time ago.
Thanks for your input

 

[Silvio]

Speaking about Elon, TSLA and BTC...

 

[Martin Everson]

Well Elon is right for once. Everyone is a genius in a bull market. Just like everyone is a real estate investment genius during a housing bubble

 

[troubled soul]

Well Elon is right for once. Everyone is a genius in a bull market. Just like everyone is a real estate investment genius during a housing bubble

I find Elon somehow irritating. His focus is make headlines, how to be in news anyhow??

I like Google founders type of people. No noise no drama and created real innovative culture corp.


Compare to this clown Elon achieve nothing and barking moon, moon, moon.

My tolerance level for Elon nonsense is reach at its pick. Whenever I see his news, I want to break my monitor .

 

[Silvio]

I find Elon somehow irritating. His focus is make headlines, how to be in news anyhow??

I like Google founders type of people. No noise no drama and created real innovative culture corp.


Compare to this clown Elon achieve nothing and barking moon, moon, moon.

My tolerance level for Elon nonsense is reach at its pick. Whenever I see his news, I want to break my monitor .

Well he made billions of dollars but overall I agree with you, he's very annoying tweeting weird BS while high on Ambien.

Anybody else doing the kind of stock\crypto pumps and dumps he is doing, telling the SEC to suck his dick etc would have been in jail a long time ago.
I wonder what kind of connections he has that allow him to do all this with impunity.

 

[troubled soul]

Well he made billions of dollars but overall I agree with you, he's very annoying tweeting weird BS while high on Ambien.

Anybody else doing the kind of stock\crypto pumps and dumps he is doing, telling the SEC to suck his dick etc would have been in jail a long time ago.
I wonder what kind of connections he has that allow him to do all this with impunity.

Elon has sex cd of regulator. So he is able to blackmail them easily

 

[Martin Everson]

Well Elon understands his GARBAGE car business called Tesla is based solely around him as a person. The company would have died years ago under its mountain of debt if if was not for his cult following. He has to maintain a presence on social media and steal the headlines every so often to ensure that Tesla remains relevant. He is his own marketing machine and has a lot of influence among his cult members. Yes he is a weirdo and I hate Tesla with a passion but he knows having cult followers and haters help his business. It is far better to be talked about than not talked about in the world we live in. Social media is all about antics and Elon is prince of antics

 

[troubled soul]

Well Elon understands his GARBAGE car business called Tesla is based solely around him as a person. The company would have died years ago under its mountain of debt if if was not for his cult following. He has to maintain a presence on social media and steal the headlines every so often to ensure that Tesla remains relevant. He is his own marketing machine and has a lot of influence among his cult members. Yes he is a weirdo and I hate Tesla with a passion but he knows having cult followers and haters help his business. It is far better to be talked about than not talked about in the world we live in. Social media is all about antics and Elon is prince of antics

Can not agree more.. in today's world so called startup develope zero innovative things, using social media and marketing They are surviving. Best example wework. No innovation just softbank free money..they create all circus...

 

[Martin Everson]

Exactly Wework is just an office subletting business its a joke company. Anyone can rent a whole building and sublet it if their lease allows it. Their whole business model is borrowing tons of money to lease and make offices look fancy and trendy and subletting them to their Organic Cucumber Latte drinking demographic. Another pure garbage business like Tesla.

 

[EuroKiss]

90% of my like was for the “Organic Cucumber Latte drinking demographic”! Best last generations description I saw in my life...

 

[troubled soul]

90% of my like was for the “Organic Cucumber Latte drinking demographic”! Best last generations description I saw in my life...

Martin's sense of humors . I mean seriously he killed it