Heads up on this.
>The risk with Bitcoin is that the government could simply change the definition of money. That is what they did to me back in 1980 because I was one of the three main market-makers in gold (perhaps the biggest). It was all a hunt for taxes, not concerning me but my clients. I have explained before why I retired from making markets in gold — the IRS declared me to be a BANK!
>Now comes Bitcoin. The Judiciary Committee of the United States Senate is currently working on Bill S.1241 that aims to criminalize deliberate concealment of property or the control of a financial account. The bill was submitted in June, and the law would change the definition of “financial account” and “financial institution,” and thus also cover digital currencies and digital exchanges. Who is pushing it? None other than California’s Senator Dianne Feinstein, who maintains that the bill is needed to update existing money laundering laws because of terrorists.
>This means that the miners of Bitcoin will become a “bank,” as I was declared. The operators of the trading platform Coinbase were forced by court ruling to notify the IRS of the identity of over 14,000 investors who were trading $20,000 in Bitcoin. Users were affected if their trading volume had exceeded $20,000 at the beginning of 2013 by the end of 2015. So this is NOT a single transaction, but accumulative. The IRS will now “presume” tax evasion. This is what I warned would happen. Been there done that! They can shut down Bitcoin in the blink of an eye by simply defining anyone who is a miner to be a financial institution.
The bill will change the definition of “financial institution” in Section 53412 (a) of Title 31 , United States Code.
Bitcoin to be Declared a Financial Institution
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cool
who will be the first cops that get shot in the face when they come for my bitcoins?
real interesting hill to die on, but pigs are slaves to the kikes anyway and deserve to die. it's been a LONG time coming for these defenders of niggers and spics.
If you tumble the coin and keep an offline wallet can the irs even find out.
How would they even know you have bitcoins?
This would be like the gold confiscation during the depression.
I don't think people are going to willingly give up their gold, guns and beans.
I'm honestly just hoping these fat fucks are weilded by the jew at some point so I can be justified in killing them.
I'm so fucking sick of their thuggery for the DMV. they steal property, and they protect niggers. Cops are the reason we are minorities in our own land.
>Who is pushing it? None other than California’s Senator Dianne Feinstein, who maintains that the bill is needed to update existing money laundering laws because of terrorists.
>None other than California’s Senator Dianne Feinstein
Surprised?
When is she going to retire? She is about 90.
We also have The Fourth Turning, and pic related incoming.
>They can shut down Bitcoin in the blink of an eye by simply defining anyone who is a miner to be a financial institution.
THIS ISNT A LOGICAL CONCLUSION
IT JUST FORCES REPORTING AT RISK OF CRIMINAL CHARGES
>If you tumble the coin and keep an offline wallet can the irs even find out.
lol coinholders are starting to get nervous
they've been monitoring transaction space for a while now user. your offline wallet is meaningless as you have to get online to exchange it to anyone in a realistic amount
I fucking called it Bitcoin is just an excuse to wipe out physical cash.
>Been there done that!
Exactly the only thing the 80 year old members of Congress would do, too.
>shutting down an anonymous currency
wew
fpbp.
there was no federal reserve before 1913.
federal taxation was enacted to pay the federal reserve which was created December 23, 1913.
They literally had to amend the constitution to allow this: February 3, 1913.
no, but how will you exchange them for cash? your bank will know (and report it) if you go peer to peer, and of course the exchanges will be on lockdown.
so unless you can get some guy to show up with a suitcase full of cash, good luck making any real profit on the sly with bitcoin.
this is exactly the situation i have been warning about for a couple years now, regarding anybody foolish enough to go long on bitcoin. it can and most definitely WILL be shut down before it is allowed to gain real momentum and undermine state authority.
of course, that was the intention the entire time. bitcoin is a creation of the US government, and is meant as a weapon against the chinese economy while serving as a breeding ground for new blockchain applications which are actually sustainable. the crash is coming, the chinese will be fleeced after having their own state authority severely weakened, and it will be the US govt who pushes the button and rakes it all in.
Yeah, we all know BTC and crypto coins are all gonna get nuked by the government. No shit. It's all a fucking huge "Ponzi scheme" that's gonna collapse and BTC will end up being worthless. Just fun to watch all the suckers get sucked into this shitstorm.
your chart is 4 months out, so its wrong.
>they make it illegal to trade cryptos
Now what do you think will happen?
>bitcoin has died 203 times
> target the exchanges
> have to give all your details to them to trade
> only alternative is to go p2p, dark web anonymous
Fuck sake. I give up, Socialists and Facists can have my blood, take my house, take my silver, take my Bitcoin, find some 3rd worlder to do my job. (good fucking luck cunts)
Czech’d
> When the government and those that control them are going to crash the USD
> When they're going to create their own digital currency
> Declare the other ones illegal and normies will just fall in line so they can get paid, nevermind the taxes
> some people think Facism & Statism is the answer
Fuck this shit.
How long before Alex Jones mark of the beast conspiracy is proven reality?
> "And no one could buy or sell anything without that mark, which was either the name of the beast or the number representing his name."
> username or account number please
Interesting timing..
google.com
Pedo-Coin :)
>They can declare it this...
>They can declare it that...
>(((They))) can also SUCK MY COCK
Signed.
Fuck em.
>bitcoin became shit because (((Feinstein)))
RRRRRRRRRRRRRRRRRRRRRRRRRRREEEEEEEEEEEEEEEEEEEEE
FUCK YOU CALIFORNIA NOBODY LIKES THE FACT YOU CONTINUE TO EXIST AND ARE THE PRIMARY REASON WHY THE COUNTRY HAS GONE TO HELL, FUCK YOU AND THE FACT YOU WERE BORN, I HOPE ALL YOU SPICS FUCKING BURN TO DEATH!
I mean, BTC was probably created by the Chinese for the express purpose of toppling the USD.
Why hasn't the US banned it completely?
Why don't you actually read how bitcoin was started and then report back on why you're retarded.
I can't believe I thought there were intelligent people here.
>Satoshi Nakamoto is the name used by the unknown person or people who designed bitcoin and created its original reference implementation. As part of the implementation, they also devised the first blockchain database. In the process they were the first to solve the double-spending problem for digital currency.
Right...
> Asian sounding name
> The Chinese Communist Party totally developed it in economic warfare with the US
Is this what you're actually implying due to the cunts sudonym being Japanese?
> Why don't you actually read how bitcoin was started and then report back on why you're retarded.
^ Listen to this user kiddo.
...
Atomic swaps and privacy coins (Monero, Zcash, etc.)
The government literally cannot do shit about it.
>takes 2 weeks to even transfer a bitcoin to anyone now, will continue getting slower over time
>durrr this is a good currency
>transfers take two weeks
only if you're a retard that sets a transaction fee of like 1 cent
>what is lightning network
Why is Sup Forums so fucking stupid and illiterate about crypto.
cool except there are hardly any miners in the US. Its also possible to obscure who is mining. There are valid concerns about centralized exchanges though. The sooner the crypto ecosystem cuts itself off from the fiat system the better
>h-h-heh it's a good idea to be forced to pay to give money to my friends
fucking retard
>The sooner the crypto ecosystem cuts itself off from the fiat system
bitcoin is fiat
I dont think that word means what you think it means
of course goyim didn't think you could avoid paying taxes now did you
Look, I understand this subject might be difficult to grasp and seem like to much effort to understand. However, giving up on understanding and making up baseless conspiracy theories that connect the dots in order for your worldview to continue functioning really outs you as a mentally deficient person.
I don't want this to seem like an ad hominem attack thought, if you actually believe what you previously stated is true, state your case and what evidence you have gathered that makes your theory tenable.
>huuur paying 1 dollar when moving say a thousand is worse than having to go through multiple institutions that each carve out their own fees
get rekt faggot, you must be losing money huh
Bitcoin was created to allow middle class people to launder money and buy contraband online.
It can't actually be banned, it can't "crash" and it has extreme value. Ask anyone who deals guns or drugs online.
Which btc isn't used for at all anymore because it has a public ledger that the SEC and FBI track in order to tie identities to transactions. Monero is mostly used for that now because it is mostly anonymous.
>the goyim thought we wouldn't collect our fair share
>the goyim thought that they wouldn't get thrown in jail for trying to earn more then (((their fair share)))
also why the fuck is it always feinstein behind this shit, every single god damn time, holy shit.
>implying its not impotent
Who else is using the coins? Not buying, using?
chinks are using a mass amount of it and you can buy shit off alibaba off it with them.
yes it does.
fiat currencies are called "fiat" because they exist as a result of a declaration that they exist.
bitcoin (and all the rest) are the most fiatie of fiat currencies since their "value" is determined solely by the assertions of their creators.
i place the value of a bitcoin at roughly $0 since it is nothing but a digital hash and an entry in an electronic ledger.
i dont accept them as currency, and do not consider them as a mechanism of exchange or a store of value.
the US dollar is a fiat currency, but the declaration of it's value is underpinned by the full faith and credit of the united states, not the sly huckstering of some anonymous shills on the interweb.
bitcoin is supported by the full faith and credit of reddit, twitter facebook and a few of the less reputable corners of redtube, placing it's real value somewhere around $0.00.
tough shit shill.
> using fake money to buy fake shit from china
> cant even tell who is jewing who
Don't think those are high volume relatively, though I might be wrong.
I'd bet the majority of the six digit or higher transactions using the currency are criminal on one form or another.
Exactly, that's why I never invested into it in the first place. Sure I'd be rich now, but I'd just be ripping that money off people that believed in this pyramid scheme and I'm not about that.
I think bitcoin is a pyramid scheme that has blown out of proportion due to the sense of rarity and security. Even though there are many other coins out there with the same technology and basically unlimited supply. Most thought that the algorithm used for Tor having complete anonymity was foolproof. They now think anonymity can be achieved through the transactions of the decentralized bitcoin.
I don't feel like typing out a response to you explaining this shit so I'm going to paste an excerpt from article. You can argue all day long that the intrinsic value isn't much or that its greatly overvalued, however, the fact stands that there is intrinsic value.
>The missing piece of this puzzle – the piece that both Bitcoin fans as well as detractors have missed – is the ability to mine Bitcoin. Because in theory anyone can put in the effort to create new Bitcoin by processing Bitcoin transactions, it is possible to profit on Bitcoin outside of its use as a medium of exchange. This fact, combined with its enforced scarcity, enable Bitcoin to become such a medium, and thus have value.
>In fact, the Bitcoin infrastructure is intentionally set up to reward miners: if more miners attempt to create Bitcoin then it automatically becomes more difficult to profit from the process. Likewise, if fewer miners make the attempt, then it becomes easier to make money this way.
>A Bitcoin’s intrinsic value, therefore, is the representation of the effort it takes to mine it.
There are a lot more people that value it quite a bit higher than that though. So enjoy living in a bubble of delusion, of hope, rather than reality.
>decentralized exchanges are being worked on right now
>the very nature of crypto currencies work with this model
Goodbye Jewish control of our capital
Sage the pedo-shills and pedo currency
[sage]
>a pedo worshipping terrorist complaining about pedo shills
top kek
>Bitcoin can be used for money laundering
the currency itself leaves a digital trail a mile long
its gonna shoot up more because they are about to launch bitcoin derivatives
come on now, apply yourself
My local liquor store lets you buy piss with bit coin and etherium
>California’s Senator Dianne Feinstein
Every fucking time!
>i.p. addresses are people
It blows my mind that the energy used to mine a bitcoin is more then the energy they are using to mine gold.... Just think about that for a minute.