7 ms·

Blockchain and Cryptocoins will face the same fate HYIP forums / Liberty Reserves went through-regulatory enforcement and social stigmatization.

• wyager 10y ago
  > regulatory enforcement The only place regulatory enforcement could hit Bitcoin is at the fiat exchanges, which are already beholden to KYC/AML. > social stigmatization People have already tried that; "Bitcoin is only for illegal drugs and guns!" Didn't work.
  • obstinate 10y ago
    It didn't?
    • dwaltrip 10y ago
      Have you checked the charts? Usage and price are essentially at all time highs, and are creeping higher.
      • wcummings 10y ago
        People like drugs.
        • petre 10y ago
          Or the Chinese, Venezuelans and Indians are buying BTC because either somebody else is in control of their currency or their currency is out of control.
• arglebarnacle 10y ago
  I mean sure, maybe they will. But people have been saying this for at least 6 years. When will this happen exactly, and why? Bitcoin may never achieve the status its proponents hope for, but interest from investors and the financial sector in bitcoin and it's underlying technology suggest it's unlikely to suffer this fate anytime soon. Unlike HYIP, which are a malicious scam, and LR, which essentially only existed for money laundering and had a single point of failure, bitcoin is at least some kind of innovation. This position isn't really better than the knee-jerk "bitcoin will replace the Federal Reserve". Both are based on feelings or ideology rather than research, and both fail to acknowledge the great uncertainty that clearly surrounds the future of bitcoin and blockchain technology.