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Israel considering national cryptocurrency: this is the nightmare I warned about
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Date: December 24th, 2017 11:58 AM Author: Umber electric furnace https://cointelegraph.com/news/israel-government-considering-national-cryptocurrency "According to the sources close to the Finance Ministry, Israel’s black market is approximately 22 percent of the country’s gross domestic product. A digital currency, registered with the government of Israel, would make black market transactions less possible.
Additionally, per the news source, the government is considering legislation that would substantially reduce the amount of physical cash in the economy. For example, one suggestion would be a law against paying wages in cash."
The important part is the focus on destroying the cash economy -- every transaction citizens make will be traced. Privacy as we know it will be destroyed.
People talk about blockchain -- the focus should be on the CHAIN not the BLOCK. it will enslave humanity. (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998105) |
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Date: December 24th, 2017 12:01 PM Author: vivacious locus FIAT COIN IS THE END OF HUMANITY AND THE BEGINNING OF CENTRALIZED CYBERCONTROL (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998124) |
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Date: December 24th, 2017 12:01 PM Author: Umber electric furnace and it portends the ultimate ban of non-governmental crypto. (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998125) |
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Date: December 24th, 2017 12:03 PM Author: vivacious locus Can people ban non-government crypto? I thought that was the point, although I guess that'll send it all underground and rape the price (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998130) |
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Date: December 24th, 2017 12:05 PM Author: Umber electric furnace they can easily ban the exchange on and off ramps to fiat. so banning coinbase, preventing banks from sending funds to known crypto sources, etc. much harder to ban decentralized p2p transactions but price would be decimated if you can't go to fiat. (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998143) |
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Date: December 24th, 2017 12:08 PM Author: vivacious locus So something like the U.S. government banning poker sites? (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998154) |
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Date: December 24th, 2017 12:10 PM Author: Umber electric furnace sure, or just look at china. china banned local exchanges, which really hurt the crypto market until the chinese started using non-chinese exchanges. will be much harder when SK, japan or the US ban them.
russia already announced their own fiat coin and ban on other cryptos a month or two ago, btw. (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998167) |
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Date: December 24th, 2017 12:16 PM Author: vivacious locus So if we see a real fiat coin it means it's time to get the hell out or do you think it's all heading down? (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998186) |
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Date: December 24th, 2017 12:19 PM Author: Umber electric furnace i think prices are heading down now...not sure on the government ban timetable, i'm actually surprised it hasn't happened by now. (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998199) |
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Date: December 24th, 2017 12:23 PM Author: vivacious locus Why do you think this crash is the bellringer, rather than local peak that's signaling a slow decline to 6-10K for a few months? (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998217) |
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Date: December 24th, 2017 12:25 PM Author: Umber electric furnace it could be more of a slow decline:
(https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998236) |
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Date: December 24th, 2017 12:31 PM Author: vivacious locus I'm totally new at this but I'm sticking to Scott Adams' analysis of it that Bitcoin has become a standard part of balancing portfolios, which was why institutional investors bought in over the last six months or so...
I think another more efficient coin will become more the 'useful' one, but that might end up being a government coin (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998265) |
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Date: December 24th, 2017 1:41 PM Author: learning disabled electric lodge Crypto isn’t big enough for the government to do more than roll their eyes at tbh. It seems huge to people making personal fortunes but the entire space is still tiny in the grand scheme of things (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998596) |
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Date: December 24th, 2017 2:23 PM Author: vivacious locus that's my feeling too (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998815) |
Date: December 24th, 2017 1:41 PM Author: racy candlestick maker useless brakes The only regulations that matter are US/EU...nothing else will have a substantial affect on the market (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998601) |
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Date: December 24th, 2017 1:51 PM Author: Umber electric furnace south korea crackdown would have a huge effect. you obviously havn't studied where crypto is being bought. (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998647) |
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Date: December 24th, 2017 1:59 PM Author: racy candlestick maker useless brakes I'm well aware..But that's a short-term bump in the road. US and EU markets are where the growth will come from the next few years.
Honestly not even really sure US making it illegal would kill it. The growth would just come from Central/South America. Is every country on earth going to make it illegal? There's too much for a country to gain economically by not keeping this in the private market. Any country that doesn't recognize that deserves to be a TTT shit hole. (https://autoadmit.com/thread.php?thread_id=3839362&forum_id=7#34998683) |