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I believe that is exact where the value of bitcoin is: because any nations will not giving up their own currency. Bitcoin is anti-establishment. Of course, the

I believe that is exact where the value of bitcoin is: because any nations will not giving up their own currency. Bitcoin is anti-establishment. Of course, the real test will only happen when some country start banning bitcoin. No one knows what's going to happen.

puranjay 6y ago
It will only prove Bitoin holders right.
- arcticbull 6y ago
  lol, it will prove them broke. The overwhelming majority of people own bitcoin because number go up. Banning it will make number not go up. This will cause them to divest. Substantially nobody is in it for the ancap utopia espoused by $20 transaction fees and 30 minute long confirmation times.
  - randomopining 6y ago
    Yeah literally that has been my argument too. And I'm invested in this... because number go up. Ok, so govs ban exchanges and you have your stuff in cold storage. You have to buy/sell p2p? Are people gonna do that just to have this magical deflationary currency? Possibly... but idk.
    - puranjay 6y ago
      Ever wondered why so many crypto projects come from China and Russia and former Soviet states? Because people who live there know what oppressive governments can do and how unreliable fiat is. I don't think people in the developed world understand it because they haven't really faced oppressive governments.
      - arcticbull 6y ago
        Are you sure it’s not because that’s where scams and cyber attacks against the west come from?
        puranjay 6y ago
        Yessir, it's surely because of that and not because of the complete state collapse a lot of these people witnessed first hand.
        arcticbull 6y ago
        Are you sure it's not because that's where cyber attacks come from? Because you do know that trading cryptos is illegal in China. Do you have any data to back up your assertion?
      - randomopining 6y ago
        Lol like average people there are invested in Crypto? I'd say it's because it's kind of the "wild west" and they can do scammy stuff and not get hit by the government like in the US or europe.
      - powerapple 6y ago
        In US, BTC had a use such as on Silkroad for drugs and other stuff; in China, at least from what I understand, it has a use of transferring assets out of the country. If you talk about China specifically, the average people wouldn't consider governments 'oppressive', the approval rate for government is actually quite high.
  - puranjay 6y ago
    If that happens and people don't get mad, it will be truly, truly sad. Most people here are pro ownership. If you think everyone should own their data (they should), why wouldn't you think that everyone should also own their money? Crypto might be a 'scam', but at least I get to own the risks. Giving up ownership means that my money is just used by bankers to invest in their own scams, and when they screw up, bail them out again. You can't be pro data ownership and anti money ownership.
    - arcticbull 6y ago
      Well that’s easy to say when everything’s is going your way haha, as soon as bitconnect and gox and quadriga hit the fan the first thing people did was yell “help! Police!! Why didn’t anyone stop this?!” That’s exactly what’s going to happen with tether.
      - puranjay 6y ago
        And I would still be fine with it because, again, my money, my risk. You have a chance to disrupt an ageing, slow legacy industry - banking - and most people here are rooting for the dinosaurs. Amazing!

puranjay 6y ago

It will only prove Bitoin holders right.

arcticbull 6y ago
lol, it will prove them broke. The overwhelming majority of people own bitcoin because number go up. Banning it will make number not go up. This will cause them to divest. Substantially nobody is in it for the ancap utopia espoused by $20 transaction fees and 30 minute long confirmation times.
- randomopining 6y ago
  Yeah literally that has been my argument too. And I'm invested in this... because number go up. Ok, so govs ban exchanges and you have your stuff in cold storage. You have to buy/sell p2p? Are people gonna do that just to have this magical deflationary currency? Possibly... but idk.
  - puranjay 6y ago
    Ever wondered why so many crypto projects come from China and Russia and former Soviet states? Because people who live there know what oppressive governments can do and how unreliable fiat is. I don't think people in the developed world understand it because they haven't really faced oppressive governments.
    - arcticbull 6y ago
      Are you sure it’s not because that’s where scams and cyber attacks against the west come from?
      - puranjay 6y ago
        Yessir, it's surely because of that and not because of the complete state collapse a lot of these people witnessed first hand.
        arcticbull 6y ago
        Are you sure it's not because that's where cyber attacks come from? Because you do know that trading cryptos is illegal in China. Do you have any data to back up your assertion?
    - randomopining 6y ago
      Lol like average people there are invested in Crypto? I'd say it's because it's kind of the "wild west" and they can do scammy stuff and not get hit by the government like in the US or europe.
    - powerapple 6y ago
      In US, BTC had a use such as on Silkroad for drugs and other stuff; in China, at least from what I understand, it has a use of transferring assets out of the country. If you talk about China specifically, the average people wouldn't consider governments 'oppressive', the approval rate for government is actually quite high.
- puranjay 6y ago
  If that happens and people don't get mad, it will be truly, truly sad. Most people here are pro ownership. If you think everyone should own their data (they should), why wouldn't you think that everyone should also own their money? Crypto might be a 'scam', but at least I get to own the risks. Giving up ownership means that my money is just used by bankers to invest in their own scams, and when they screw up, bail them out again. You can't be pro data ownership and anti money ownership.
  - arcticbull 6y ago
    Well that’s easy to say when everything’s is going your way haha, as soon as bitconnect and gox and quadriga hit the fan the first thing people did was yell “help! Police!! Why didn’t anyone stop this?!” That’s exactly what’s going to happen with tether.
    - puranjay 6y ago
      And I would still be fine with it because, again, my money, my risk. You have a chance to disrupt an ageing, slow legacy industry - banking - and most people here are rooting for the dinosaurs. Amazing!