4 ms·

But is it better to see your crypto devalued by some big dump? Would probably be easy for a nation state to do this if it wanted to.. All this independence fro

But is it better to see your crypto devalued by some big dump? Would probably be easy for a nation state to do this if it wanted to.. All this independence from states seems totally overrated to me. They can tax your crypto. They can participate in the crypto market.. many possibilities.

rybosworld 6y ago
People have been making some variation of this claim since bitcoin was $0.01. There haven't yet been any successful attempts at destroying it, which I think is what you're implying. Not to say it can't happen, but then if we prepared for every single possible scenario we'd all be quite exhausted.
- mamon 6y ago
  Bitcoin exists for just over a decade now. Give governments and financial regulatory bodies some time to catch up and they will destroy it, maybe creating their own cryptocurrencies in process.
- fileeditview 6y ago
  I guess the reason it didn't happen is that there is no need for it. Probably they laughing their ass off by profiting from it. Not sure how it works in the US but e.g. in Germany you have to pay taxes on crypto earnings. Sure you can just hold forever but what does it help you then?
rafale 6y ago
They can also enslave and kill you... Should they attack bitcoin, it would be acknowledging it's raison d'être.
nostrademons 6y ago
If a nation-state dumps crypto then they no longer have it. If crypto was overvalued to begin with they can just buy it back later, cheaper. If it was fairly valued and they crashed it unfairly, they just lost a whole lot of crypto and don't get to play in that market anymore. Same way that speculators get flushed out of the stock market: eventually you run out of money and lose the right to play unless you start making a series of good calls. This feedback mechanism doesn't exist when money can be created out of thin air. Then, if you run out of money, you just print more.

rybosworld 6y ago

People have been making some variation of this claim since bitcoin was $0.01. There haven't yet been any successful attempts at destroying it, which I think is what you're implying. Not to say it can't happen, but then if we prepared for every single possible scenario we'd all be quite exhausted.

mamon 6y ago
Bitcoin exists for just over a decade now. Give governments and financial regulatory bodies some time to catch up and they will destroy it, maybe creating their own cryptocurrencies in process.
fileeditview 6y ago
I guess the reason it didn't happen is that there is no need for it. Probably they laughing their ass off by profiting from it. Not sure how it works in the US but e.g. in Germany you have to pay taxes on crypto earnings. Sure you can just hold forever but what does it help you then?

rafale 6y ago

They can also enslave and kill you... Should they attack bitcoin, it would be acknowledging it's raison d'être.

nostrademons 6y ago

If a nation-state dumps crypto then they no longer have it. If crypto was overvalued to begin with they can just buy it back later, cheaper. If it was fairly valued and they crashed it unfairly, they just lost a whole lot of crypto and don't get to play in that market anymore. Same way that speculators get flushed out of the stock market: eventually you run out of money and lose the right to play unless you start making a series of good calls. This feedback mechanism doesn't exist when money can be created out of thin air. Then, if you run out of money, you just print more.