Why shouldn't the US ban crypto?

[America 1st]

You're inconsistent sport. You started with banned, then morphed into regulated for several posts. Your initial question has been answered - I don't agree to relinquish my right to invest the fruits of MY labor as I see fit.

Banning something is a regulation...

Still haven't given me a reason it shouldn't be banned as currency.

 

[talimite]

Banning something is a regulation...

Yes it is and I said no it should not.

Let me ask a question - why should crypto be banned and not Gold, Silver, Art, Yachts, Diamonds, other currencies. etc?

 

[America 1st]

Yes it is and I said no it should not.

Let me ask a question - why should crypto be banned and not Gold, Silver, Art, Yachts, Diamonds, other currencies. etc?

Those things are finite.

Give a reason beyond some rable about your hard work. I've proven why your opinions aren't rooted in reality.

 

[talimite]

Those things are finite.

Give a reason beyond some rable about your hard work. I've proven why your opinions aren't rooted in reality.

Try again - Bitcoin is finite, though I don't see how that's even relevant. It's less a currency that it is an asset. Currencies are controlled by governments who manipulate them through fluctuating money supply.

You buy it with the anticipation that you'll be able to sell it in the future for more than you bought it. No different than gold, silver, . . .

You've not given a sensical reason at to why it should be any different than any other liquid asset

 

[America 1st]

Try again - Bitcoin is finite, though I don't see how that's even relevant. It's less a currency that it is an asset. Currencies are controlled by governments who manipulate them through fluctuating money supply.

You buy it with the anticipation that you'll be able to sell it in the future for more than you bought it. No different than gold, silver, . . .

You've not given a sensical reason at to why it should be any different than any other liquid asset

Bitcoin isn't the only crypto and it's only finate in theory. Also it's about all crypto currencies not just bitcoin.

Yore really bad at this.

The point is to have that manipulation by a government. It's what makes the US the most powerful country on earth.

Have you really not thought this through? Cuz again everything you keep listing is regulated to boot...

 

[talimite]

Bitcoin isn't the only crypto and it's only finate in theory. Also it's about all crypto currencies not just bitcoin.

Yore really bad at this.

The point is to have that manipulation by a government. It's what makes the US the most powerful country on earth.

Have you really not thought this through? Cuz again everything you keep listing is regulated to boot...

You seem really obtuse. Bitcoin is finite in theory and practicality, every one that's mined makes the next one more difficult to find. Eventually the expense of mining does not make it profitable. (Pretty much exactly like Gold, the more we mine the harder it is to find - oh and Gold is not banned).

The whole point is NOT to have manipulation by government (unless you're a socialist then I guess you wouldn't like it; I'm not and will fight you tooth and nail to keep my freedoms).

Your question has been answered - either you believe in individual freedom or you don't.

 

[America 1st]

You seem really obtuse. Bitcoin is finite in theory and practicality, everyone that's mined makes the next one more difficult to find. Eventually the expense of mining does not make it profitable. (Pretty much exactly like Gold, the more we mine the harder it is to find - oh and Gold is not banned).

The whole point is NOT to have manipulation by government (unless you're a socialist then I guess you wouldn't like it; I'm not and will fight you tooth and nail to keep my freedoms).

Your question has been answered - either you believe in individual freedom or you don't.

Troll is too obvious.

Nothing about currency manipulation is socialist. The US does it and is not a socialist nation.

Edit:
Also bitcoin isn't finite. It's global currency / resource manipulation. We want that restricted to the US so it benefits the US.

Bitcoin Block Reward Halving Countdown

Bitcoin Block Reward Halving Countdown website

bitcoinblockhalf.com

 

[talimite]

Troll is too obvious.

Nothing about currency manipulation is socialist. The US does it and is not a socialist nation.

Bitcoin isn't a currency

I'm done, you asked a question that you really didn't want an answer to, when given one you deflect/deflect/deflect.

Incredibly ironic for someone with a handle of America 1st. to want to restrict American's freedoms

 

[America 1st]

Bitcoin isn't a currency

I'm done, you asked a question that you really didn't want an answer to, when given one you deflect/deflect/deflect.

Incredibly ironic for someone with a handle of America 1st. to want to restrict American's freedoms

It's a crypto currency...

I'm sorry but you didn't give an answer at all. You ranted (inaccurately).

The US government has a right to regulate it's economy to protect it's citizens. It's not a free market economy. Stop being obtuse.

 

[Holly Bomber]

I think you're spot on but that doesn't answer my question about why the US should allow such a practice especially with the devaluation of their own currency as you noted.

First, America's currency devaluation has nothing to do with crypto, and everything to do wit irresponsible government spending.
Second, the US banning crypto would be like Mexico banning the internet because most of their people were not on it. It is the future of cross border trade. Period. The choice you offer is: Let Americans get on board and have some knowledge and experience or force them to jump in blindly later... seems easy to me.

 

[MortgageHorn]

Anything that resembles a global currency, that's not the US dollar, should be destroyed at every opportunity.

Change my mind.

I don't think you really understand crypto and the power of it.

 

[Sikness23245]

I think you're mostly right.

It should be viewed as a resource or technology as opposed to currency or an asset.

It really doesn't act like a currency much but like you pointed out. It's much more like a developing resource or technology.

Blockchain will bring many positives but acting as a 'currency' isn't one IMO.

Americans wouldn't be disadvantaged to eliminate blockchain as an asset option since it's still being used and developed across many fields.

The better argument would be why shouldn't it be regulated like other parts of the economy? The answer is there isn't one and it's never good to leave things completely unregulated because the bigs will always take advantage of the littles.

We'd be at a disadvantage because of the opportunity loss in not allowing Americans to profit from crypto while the rest of the world is. Not to mention, while the US pulling out completely would send crypto prices in a nose dive, only Americans would not have the opportunity to recover their losses once prices stabilize again.

 

[America 1st]

We'd be at a disadvantage because of the opportunity loss in not allowing Americans to profit from crypto while the rest of the world is. Not to mention, while the US pulling out completely would send crypto prices in a nose dive, only Americans would not have the opportunity to recover their losses once prices stabilize again.

Opportunity loss isn't enough justification and that assumes it has to be a loss. Americans could just as easily gain from not being taken advantage of.

Making money or people taking a loss is life. They knew that could happen when they sank capital into something.

We should hope crypto prices nose dive. Don't want anything resembling a world currency surviving.

 

[America 1st]

I don't think you really understand crypto and the power of it.

I do and that's exactly why it shouldn't be allowed to be used as currency.

 

[America 1st]

First, America's currency devaluation has nothing to do with crypto, and everything to do wit irresponsible government spending.
Second, the US banning crypto would be like Mexico banning the internet because most of their people were not on it. It is the future of cross border trade. Period. The choice you offer is: Let Americans get on board and have some knowledge and experience or force them to jump in blindly later... seems easy to me.

Wrong.

Currency manipulation by countries and complex and thought-out. The US has been trying to devalue it dollar for decades for trade purposes alone. The dollar being the world reserve allows the US to manipulate nearly at will (thank goodness).

Your second point is also wrong. It wouldn't be like that at all. It would be closer to the US banning drugs or counterfeit currency. Most do don't it but it's dangerous for all citizens, in many ways, and many other segments of the world.

 

[America 1st]

 

[Tell_Sackett]

Strawman, not at all equivalent to crypto. Your examples are supporting things that harm others (though I feel that anyone should be able to buy drugs).

Banning crypto would be akin to banning gold ownership.

They already did that once.

Crypto will be targeted by government power brokers because it is largely unregulated and uncontrolled. Mining it also leaves a massive climate footprint due to the electrical grid demand. It would not shock me for the regulation of Bitcoin to come not not directly via some type of universal monetary regulation but indirectly under the guise of a climate accord. All they need to get the stampede headed towards the exits is the stroke of a pen. A black swan event is a massive risk.