/biz/ - Business & Finance

>>28257114
>Remember the governments cryptocurrency will be infinite and they will keep making more of it.
Yeah, weimar germany tried this. It didn't work out too well

This is not a fud btw

If anything this should make you want to go buy BTC

The question is, when your government inevitably creates it down digital currency, and offers you a fucking shit load of it, just for your 1 BTC, do you think you will sell out and take it?

It seems like an offer most just couldn’t refuse. You would be an instantly wealthy, and the government gains control of your BTC, which is what they are going to want.

The know outlawing it won’t work, so it’s either they kill you, or pay you out to relinquish the BTC

>When governments eventually have their own cryptocurrency for their own country, they’re going to want to remove Bitcoin from circulation
Admit it. When governments eventually have their own fiat cryptocurrency for their own country, they’re going to want to remove Bitcoin from circulation

So what you’re saying is we’re heading towards a BTC short-squeeze type deal where the government has to buy back 100% of the BTC. Don’t tell Reddit fags

>>28257114
Considering how quickly they are inflating usd 25mil of anything they make won’t be worth 1bitcoin.

>>28257606
Mate, it’s already happening with Fiat.

What’s going to happen is when the fiat goes 100% digital and they have their own cryptocurrency.

They will be forced to offer an insane amount of their own coin to get holders of BTC to give up their coin. So the government is going to be buying out all the BTC from their own citizens for the local nations cryptocurrency.

This is what I mean.

>>28257791
They don’t have to, but they’re going to want to. They will buy all the BTC they can from the citizens of the country that they’re in. And the government when have succeeded in removing BTC from circulation from the citizens, and it will be stored as digital gold in government coffers, they will use it to trade with other nations.

Basically in the end the only people who will keep BTC will be criminals, crimina organisations, and governments. The average citizen (you, me) will trade for the insane pay out to relinquish ownership, because their offer will be too good too refuse.

I think the opposite, USD, GBP, EUR will have no choice but to tether to Bitcoin. They cannot be the master, only the slave to it

>>28257767
>Admit it. When governments eventually have their own fiat cryptocurrency for their own country, they’re going to want to remove Bitcoin from circulation

Yes, and they will do this only by offering an amount holders of BTC can’t refuse. You will see the few people who held onto their BTC become instant top 0.1%ers.

>>28257800
>Considering how quickly they are inflating usd 25mil of anything they make won’t be worth 1bitcoin.

It doesn't really matter, the point is whatever an extreme amount of wealth is at the time is what they will be forced to offer to remove BTC from circulation, an offer we cannot refuse as normal people.

In countries like China, they will probably just kill you, but in places like Australia or the United States, you will be offered lottery tier amounts for your BTC.

Bump, why is nobody interested in this? Has nobody actually thought about Bitcoin this far into the future?

This will happen in our life time.

>>28258895
Bump

>>28257114
That's as likely as it is them declaring gold is now worthless and now rocksalt is valuable

>>28257114
Wouldn't that just raise the price of BTC to 20M?

>>28260036
You obviously dont understand. They're not declaring gold (digital gold) bitcoin as worthless. They would want every single citizen within their borders spending with their particular nations cryptocurrency, because they can control this cryptocurrency.

Said governments will want you and I to use this, and they will want Bitcoin taken out of our hands, and the only way for them to do this is to (A) Kill us or (B) Pay us out an insane amount.

The end result is the government buys all the Bitcoin from those who hold it, and they put it into their coffers, as a digital gold, and will use it for trading with other nations. Just like with how gold is used by nations today, but BTC will be the digital form.

>>28260284
Yes. Thats the point Im making. But you have to remember, the government will simply generate more of its own Cryptocurrency, to pay you out.

So like normal, their own currency will devalue, like fiat is now, but you will be paid out with extreme wealth.

Remember, by the time this happens, the average person will never be able to even accumulate 1 bitcoin in their life time. So even before this happens, Bitcoin will already be a 7 figure coin, when the governments start trying to remove BTC from its citizens, it will be forced to offer very high amounts of their own digital currency for it, a digital currency which is what will be used at the time for you to buy shit within your country, like how fiat is now.

Yes the government be be forced to generate billions/trillions of its own cryptocurrency in these "Buyback" programs, but it doesn't matter, remember, they do that shit anyway. The point is getting BTC out of our hands will be the number one propriety for governments.

Like i said though, in places like China, they will probably just arrest/kill you if you have BTC at this time, but in places like the United States/Australia, you will be paid out handsomely by your government to trade your BTC for the local cryptocurrency.

>>28260612
ohhhh I see, I feel like holding a bitcoin would be like holding a very scarce resource due to the history behind it. It would be like holding a very old golden coin that was made in like 1300. I would probably keep some as an heirloom or some shit idfk thats a future problem who even knows

Yes, for a large estate in a rural setting with all ameninties and a small apartment in the city for the extended family to use, I will be free.
The government can have my bitcoin.
but.. they'll never get my unknown amounts of XMR

>>28257832
>Mate, it’s already happening with Fiat.
Alot of REAL food has doubled in price since the beginning of covid. Bad things are afoot.

>>28260794
By the time this happens, the average person will never be able to accumulate 1 BTC. The average person would have sold their Bitcoin at that point.

Just like the majority of people who owned BTC when it was $1 have sold by now. By the time BTC is in the 7 figure range, the majority of people who hold BTC now would have sold.

In the end, the average person like you or I, who held onto our Bitcoin, it is 1 off people like us, that will be offered lottery-tier amounts of the local cryptocurrency, because the government is going to want it out of your hand, and in their coffers.

>>28261062
How is the government going to track down all the Bitcoin holders by country?
What about XMR?
and what about the rest of the cryptocurrencies, or is it only going to be Bitcoin you think? because of the scarcity by that time?

>>28257114
Thinking about liquidating my stock market holdings and going all in on Bitcoin. it's all funny money to me anyway.
Should I?

>>28261605
They wont have to track anyone. Their offers in trading for your BTC will be so high that you will goto them to trade it.

It wouldn't be cryptocurrency if it's backed by a government. It's just currency.

>>28262054
Understandable. Well I would definitely sell at least some of it and hide another fraction if the deal was good enough.
You say in your OP
>the only down side is now you’ll be back under the thumb of the governments money and you’ll be using their own centralised digital currency instead of your decentralised BTC
Wouldn't be necessarily true, you didn't give a timeline, but assuming this is after block rewards are zero, wouldn't people devoted to not being under the thumb of government currency be using a different cryptocurrency to actually transact, and using BTC as the store of value/asset type thing? and even still some of them might not sell to government if they are so hardline this far into the future, I mean imagine how different things could be then.

>>28257114
>At the time an average house might be worth $5,000,000 so you’ll be getting a pretty good deal for giving up your digital gold, the only down side is now you’ll be back under the thumb of the governments money and you’ll be using their own centralised digital currency instead of your decentralised BTC

People already do this. Nobody uses BTC as a method of transaction. The government has made it too onerus to do so because in the US there is an unofficial 20% sales tax anytime you make a purchase with BTC. So what happens is they just cash out into USD and then plow that money into big ticket asset purchases. It will be no different than today, except that USDcoin in 100% trackable. Worse comes to worse, people who hold BTC who believe in liberty and privacy, but what to keep purchasing power just trade pure BTC in for tangible assets like land and precious metals. You will take a 20% shave or whatever the fuck the cap gains will be at the time, but it's better than being enslaved by the FED.

>>28262243
To go even further than that assuming you will say they will want to stomp out all cryptocurrency, they can't actually stop crypto unless they seize nodes worldwide, if they were just offering insane amounts of fiat for ALL crypto they are essentially just making people rich for generating crypto, like XMR will be mineable forever, they literally can't stop it, and what would you choose? USDCoin trackable taxable fuckable or XMR?

>>28261823
Im not a financial advisor and I dont care to give finanical advice.

All Im interested in is the future of money, and the future of BTCs place in the world when the entire world is using cryptocurrency and every government has their own local currency 100% transformed into cryptocurrency as the 1 and only form of payment within the borders of said country.

The government will never be able to control BTC, so the only methods of the government having control over it is to either kill you, or buy it from you, and for them to buy it from you, they will have to trade an extremely large amount of their own government cryptocurrency, which they control and generate more of, like they do with fiat, but in digital form.

It will be extremely hard for the average person who accumulated 1 or more BTC today, to then in the future, refuse the amount they will be offered to give up the BTC to the government.

But as I said, it depends where you live and your government, if you're in China, the odds are your government will just kill you for the BTC, if you're in Australia, US, any EU country, you will be paid out handsomely in order to trade it to them.

>>28257114
1) the government cryptocurrency has no intrinsic value 2) it's pumped by theter 3) only used by criminals to cause wars 4) it's bad for the enviroment 5) will be broken by quantum computers 6) is a tulip bubble 7) cannot scale

I only trust real money like bitcoin, not this fake stuff

>>28257114
Never selling faggot. I will always have a stack for insurance. Taxation is theft and there will be a citadel because i will hold amd create it.

>>28261823
for a store of value, bitcoin
to earn dividends or multipliers? DYOR on altcoins

>>28262678
You missed the point.

When every nation has officially now gone 100% Crypto for their local currency. You will ONLY be able to purchase shit in the local cryptocurrency, because the government is always going to want control, it will be a centralized cryptocurrency that everyone will be using.

The government will want you to stop using BTC, and the only viable way it can do that is to either kill you, or to pay you out, so you trade your BTC for an extremely large sum of their own digital currency.

To give you an example, yes, paying out people with BTC, will cause inflation, but the point is, only a few of us by then will have any significant amounts of BTC, so while yes it will devalue their own cryptocurrency to pay you out for BTC, it doesn't matter, they're the government, they're doing that anyway, and will always do that, just like they do with Fiat.

>>28262900
and you won't be alone

>>28257114
The goal is to have enough commoners with bitcoin that governments won’t be able to interfere with its progress due to fear of retaliation from the commoners.

Let's say the governments do this.
It will have to run on a network. A network MUCH faster than VISA. So in your mind do you think they will make their own network, license it out or take bidders on a government contract.

There is only ONE coin that will be able to handle that volume. Buy that coin.

>>28263047
Yes, but its not going to work out that way in the end.

Read my posts in this thread in full and you will understand. Ive repeated in different ways so far.


I am not FUDDING BTC, if anything what Ive posted here should FOMO you into buying as much BTC as you can afford to buy now, and to buy more and more as you can afford to.

What I am saying is that BTC will end up being bought by governments using their own cryptocurrency to trade for your BTC, traded for what will be lottery tier amounts of money for the average person.

>>28263255
It its really peaking my interest watching companies like Tesla and Apple gobbling up Bitcoin. Something big is planned in the works...
I CAN FEEL IT

>>28262972
no, (((you))) missed the point. if bitcoin exists and has a market today, it means people choose it, no one is going back to "government currency" anymore, and also you are very optimistic about how much more the government can last, or how strong it's going to be, you do know stuff like the IRS are already understaffed right

>>28263894
What does the IRS being understaffed have anything to do with this? You're adding information that is irrelevant to the discussion.

The government not lasting? Governments have only grown in size and power, and continue to get bigger and gain more control over us, to think this is somehow going to randomly collapse and some libertarian future will come in is retarded and delusional.

Has the pandemic not taught you anything? Do you not realize that people want to be controlled and looked after by the government? The anti-government anti-epidemiologist anti-medicine is a small niche group of Qtard tier people, the majority of people dont think like that, the majority of people want big daddy government.

The point is, BTC will grow in value, to a point where when governments have their own centralized cryptocurrency, that they will be buying BTC to remove it from circulation because they will not want a descentralized form of digital currency being used by you or I, they will want us on their own currency they control, and that is why they will either (A) Kill us for it or (B) trade a huge amount of their own digital currency for our BTC.

>>28257114
Retarded schizo posting.

Most governments will disregard cryptocurrencies and just declare it illegal to own or operate with crypto. They won't offer shit. You are a spazz if you think any other outcome will happen.

>>28264396
G7 bans any member nation from having crypto companies/networks operating. 99% of interest is killed since fiat pathways are abolished. Crypto falls 99%. It's gonna happen, just not for at least a decade.

>>28264396
And that will cause the value of BTC to skyrocket even more and they will end up being forced to give you $100,000,000 of their own currency instead of $10,000,000.

>>28257114
how will a country ban crypto when Visa and Paypal will begin to accept it?

i live in a country where they recently begun to implement their "digital currency" its useful.

but wont compete with crypto cause it lacks the good parts of it

but they wont ban it when major credit cards and financial institutions are in it

>>28264471
If you knew anything about how BTC works, you will understand that in doing so (wont happen) it will only serve to skyrocket BTCs value even more

I suggest you research Bitcoin.

>>28262972
That would just devalue their currency against other nations who don't do that and people will be prefer crypto since it's not taxed over fiat. What the government will have to do is change the way they think of tax entirely and redesign banking.

I'm never ever selling for any price, I might trade a little so I can live better but otherwise I'd buy a ticket to the moon and leave their power, and their scams behind.

>>28264623
I didnt say anything about banning cryptocurrency or banning anything for that matter....

You clearly did not read my posts.

Its not about "competing" with decentralized cryptocurrency, its about removing it from the hands of the average person, like you or I, and to do so, the government will have be forced to trade huge amounts of its own digital currency for us to give up our BTC.

>>28264661
Been in bitcoin since 2013, before regs even existed.

Bitcoin exists at the mercy of central governments. I am taxed on it, but once it becomes a threat, governments will force you to sell, or restrict you from buying.

The price will not skyrocket, because demand will drop.

Fucking level up your brain your floor licker.

>>28264807
Not to sound arrogant, but why would we remove our freedom when we could remove their power?

>>28264851
The demand for BTC will be infinitely higher by that time than it is now. It will make $50k/BTC look like chump change.

Governments will buy BTC and store it in their coffers like they do gold, as a form of digital gold.

It will be used for nation>nation huge trades/ transactions.

>>28264932
Because it is not "we", you will be "you" and you will eventually sell out for your lottery ticket. Everybody has a price.

The only people who will hold onto their BTC will be BTCautists, criminals, criminal organizations, big corporations, and big government.

>>28264851
Atomic swaps, DAI, XMR and direct transactions.

Not saying it's perfect but it's a trend of things to come. If they make it illegal I'll still keep 100% of my wealth in it. This will also be like tax Haven's where countries that don't ban it will make a fortune on exchanges, staking, mining etc...

>>28265086
Yeah but my price is in sats. Papers just pap

>>28260612
They won't offer you a shitload. They'll offer fair market value.
>t. Imminent domain

>>28265016
There must be something I’m missing about your hypothetical. I can sort of see what you’re saying about either having to give up your Bitcoin or be killed, but I don’t see why the government would be interested in Bitcoin. If the situation present is no one is really allowed to have it then why would the government want it? What would the use be other than to get rid of it. More succinctly: if government(s) want it gone what use would it be to openly traffic in a currency which the peasants shouldn’t be able to own? Why would other countries, especially smaller ones, give a shit then?

>>28257674
>The question is, when your government inevitably creates it down digital currency, and offers you a fucking shit load of it, just for your 1 BTC, do you think you will sell out and take it?
Yes

>>28265241
"Fair market value" will be a fucking niggerload by that time this occurs.

Remember there is no physical way for the government to take it from you like they can take physical gold away from you.

Like I said, by the time this occurs, we will look back at $50k/Coin and see it was literally chump change in comparison, and that is with inflation or even hyperinflation taken into account.

OP is retarded. The minute the US bans BTC will be the best day in the world for BTC holders. Singapore, Canada, Korea, Japan, etc. will step up and in less than 2 years US will have to reverse their stance.

Law makers are starting to realize this. If anything, BTC wallets will be attached to passports or ID, and that can be used to credit you their currency. IE if you own 1 btc your country pays you 8% interest for holding it for you or some shit. BTC is not going anywhere. Banning it will make it crash momentarily, but in the long run other countries will step up. Its proven to be a trillion dollar industry already and its being used by less than 1% of the population.

The smartest minds (and some of the dumbest) are attracted to it now that they understand the implications it brings to the world of finance and economy. 10k limits at international borders are meaningless, seizing someones funds is irrelevant, finding a way to do business or barter without gov currency got a million times easier.

>>28265436
>Remember there is no physical way for the government to take it from you like they can take physical gold away from you.
There's your answer

You are thinking too hard. Bitcoin is an speculative bubble. Buy low, sell high, while it's legal.

>>28265410
Small countries are irrelevant. Nobody gives a fuck.

The governments only want it "GONE" as in OUT of the hands of the average citizen, like you or I. They dont want the average citizen using anything besides their own centralized cryptocurrency that THEY control.

And like i said, the only way for this to occur is they kill you/jail you, and or pay you out an insane amount.

In countries like China and other shitty countries, you'll most likely just be killed/arrested/tortured until you give it up, in places like Australia, the US, you will simply be paid out.

>>28265558

>>28265558
>OP is retarded. The minute the US bans BTC

I NEVER SAID ANYTHING ABOUT BANNING BTC

YOUR READING COMPREHEND SKILLS NEED IMPROVING SIR

NEVER NOT ONCE IN THIS THREAD I SAY ANYTHING ABOUT BANNING BTC, OR THE GOVERNMENTS BANNING BTC

HOLY FUCK

>>28257114
that doesnt make any sense bitcoin isnt actually a threat to anything other than the BIS, already legislation to pay taxes in bitcoin nbd

>>28264396
>hurrrrrr goberments gonna BAN ur coins, betcha feel DUMB now huh?
he says after the richest company in the world announced their holdings, a week after Visa, the largest payment processor in the world announced their plans for an API to allow banks to transact in bitcoin, a month after PayPal started allowing bitcoin buying/selling/transacting.
but i bet you think you're really fucking smart for this old FUD.

>>28265616
OP yfw u realize a global crypto currency is actually what they want, national currencies are one of the few things stopping complete globalization, we have bitcoin, like 100% chance now it will be a reserve currency this is probably the last gartner cycle no joke

>>28264932
you cant remove government power with bitcoin. bitcoin exists thanks to well known and unconcealed mining farms lol. government takes those, it's over.

>>28258895
Are you sure governments can easily do that when they yield so easily to corporations?
>>28262538
Prove to me that xmr isnt a honeypot/controlled opposition.