/biz/ - Business & Finance

[Anonymous No.23898796]

Seriously - what happens when the government(s) just decide to completely crack down on crypto? Theres no way they will allow major capital flight into BTC while their currencies collapse.

The only reason the chinks can get their hands on crypto is because they can access other avenues that allow it but once they get shut down, its lights out.

I thought we had no counter-party risk but now i realise the internet is no where near the cyberpunk escape world i thought it was...

[Anonymous No.23898800]

>>23898796
Idk dude lucky for me im not buying anymore

[Anonymous No.23898809]

What are they gonna do, turn off the internet?

[Anonymous No.23898864]

>>23898809
dont be abtuse, i need some actual cure to this FUD bro's...

the internet and its infrastructure is very centralised and they can shut down whatever they want. of course they wont shut down everything they'll just selectively shut down and ban what they need to

[Anonymous No.23898897]

>>23898796
assassinations obviously

[Anonymous No.23898959]

>>23898897
But that reduces the supply and increased the price

[Anonymous No.23898993]

game theory makes it untenable unless all governments agree to do it simultaneously. but if any government decides to buck the trend it will profit immensely

[Anonymous No.23899034]

>>23898864
What about iexec? What about dVPN? The 4th industrial revolution includes a new internet

[Anonymous No.23899052]

>the internet and its infrastructure is very centralised

[Anonymous No.23899178]

>>23899052
not an argument

[Anonymous No.23899197]

>>23898796
>what happens when the government(s) just decide to completely crack down on crypto?
1776
https://www.youtube.com/watch?v=j-diOQ6xCMM

[Anonymous No.23899203]

>>23899178
he didn't make an argument, he's insulting your stupidity

[Anonymous No.23899207]

Absolutely nothing. The internet is an almost completely centralised medium and unless major advances are made on the dark net and towards easy access to a decentralised internet and marketplace, there will always be a very serious threat of government intervention. The Australian government has already banned the purchase of privacy coins.

[Anonymous No.23899216]

>>23899203
if im stupid someone should be able to easily refute me

[Anonymous No.23899236]

>>23898809

[Anonymous No.23899244]

>>23899178
whats even your point an emp will wipe it out? Do you think unstoppable domains, e.g. eth miners, will just stop mining? Ok maybe those could wipe out an eth miner unless they use a provider like iexec as cloud computing. Ok well i guess iexec can be attacked by an emp, maybe youre answer is seeing if an emp is listed as a risk for iexec computing power or where it comes from im not familiar its supposedly decentralized so my understanding would be as long as people can connect computer to iexec they can provide computing power, sans internet, and you can use it

[Anonymous No.23899262]

>>23899244
meaning the internet that is ethereum probably wont go offline even if tradinternet does

[Anonymous No.23899300]

what's more likely, crypto or gold?

[Anonymous No.23899310]

>>23898796
>I thought we had no counter-party risk

considering the very real possibility of an adversary using a MITM attack to learn your private key it's hardly attractive from a security standpoint. it could be done very easily via hardware backdoors which we know exist thanks to snowden. the "no counterparty risk" talking point is bull. it could all be missing one day and you'd have no recourse whatsoever.

it's make-believe security. utterly worthless unless you're very, very, VERY careful about how you handle transactions and your private keys, to the point where it's very impractical to use as a currency.

[Anonymous No.23899323]

>>23899034
>What about iexec?
Ahhhh I see some bizmen are catching wind.....................

[Anonymous No.23899369]

They won’t shut it down, it’s exactly what they want. How much easier is it to trace central bank issued stablecoin of the local currency instead of cash? Anyone that has not been living under a rock for the past few years knows about the desire of a cashless society and all the other transhumanist, globohomo, klaus schwab agenda. They will wage a war on everything focussed on privacy.

[Anonymous No.23899400]

>>23899310
cont.

and if you really pin down one of these shills their only real argument is something to the effect of

>"oh well do you think they'd REALLY steal your private key?"

of course i do. why not? what's the point of using bitcoin in the first place if big brother can lift all your money on a whim?

EVERY single argument about bitcoin's security is completely moot if you believe even half of what snowden had to say. if tptb can steal your keys or you're using compromised RNG, then it doesn't matter how secure the bitcoin protocol is. this is indisputable fact.

[Anonymous No.23899416]

>>23898796
;)

[Anonymous No.23899512]

>>23898796
If nobody buys, then nobody can sell, and the price stays the same until the ban is lifted or becomes unenforceable.

[Anonymous No.23899524]

>>23899400
cont.

in fact, i think that any conception of bitcoin as a "socialist", "revolutionary", or "decentralized" money is rooted in ignorance. the people who believe these things are misguided at best. it's kayfabe socialism, kayfabe security. a very centralized scam.

[Anonymous No.23899541]

>>23899512

would you agree that satoshi & friends, along with anyone having sufficiently powerful surveillance apparatuses are very much favored by bitcoins adoption? does this seem like a decentralized revolution to you?

[Anonymous No.23899546]

There are BTC nodes running on satellites in space kek

[Anonymous No.23899562]

how many generic frogs are you people going to post? There's 3 of the same frog at the top of last reply sorted catalog right now. Fuck off with that and get a bigger folder.

[Anonymous No.23899575]

>>23899562
nevermind there are five of the same pepe and another that's slightly different.

[Anonymous No.23899578]

protocol security without hardware security only strengthens the monopoly over information that tptb already have.

[Anonymous No.23899592]

>>23898864
Abtuse isnt a fucking word you nincompoop

[Anonymous No.23899617]

i think people far too often confuse redundancy and fault tolerance with true security and decentralization of power.

[Anonymous No.23899632]

>>23898796
Wtf i just sold 100k buttcoin

[Anonymous No.23899642]

>>23898809
Thanks to the evil blockstream even if you turned off the internet BTC would still be running over satellite, radio and other meshnets.

[Anonymous No.23899644]

and all of this ignores the fact that bitcoin itself is not such a good idea, to put it kindly. proof that just because you *can* do something does not mean you *should*.

[Anonymous No.23899678]

>>23898864
the biggest companies in the world operate solely online. no one is shutting off the internet unless they want to fuck the economy worse than covid. you are a retard.

[Anonymous No.23899710]

>>23898864
Only if they ban E2E encryption

[Anonymous No.23899727]

>>23899310
Hardware wallets and airgapped cold wallets, dipshit.

[Anonymous No.23899729]

>completely crack down on crypto

[Anonymous No.23899786]

>>23899727

hardware wallets are usually running off-the-shelf processors and are probably compromised or covertly reveal your private keys, and in such a way that would be difficult to detect. to maintain a cold wallet and generate transactions securely would be difficult, very impractical, and still vulnerable to other forms of surveillance. you're the dipshit if you think any part of this is secure.

[Anonymous No.23899812]

>>23899710
>Only if they ban E2E encryption
see
>>23899578

so they'd never ban e2e encryption.

[Anonymous No.23899817]

lol

[Anonymous No.23899825]

>>23899678
i didnt suggest that they were going to 'shut off the internet'

they can make it illegal to do certain thinks like exchange fiat for crypto or ban exchanges

i came here for genuine answers but holy fuck the cope in this thread really is making me bearish

[Anonymous No.23899870]

>>23899512
300 IQ

[Anonymous No.23899915]

>>23899825
you can't shut off 'parts' of it brainlet. even in china you have ways to get around the "great firewall". now you will say "but muh arrests". how many people do you see fined or arrested for pirating? how about that billion dollar mining industry in multiple countries? they gonna shut that down? multiple cryptocurrencies have been cleared by the new york dfs. japan stores allow btc purchases, paypal just announced they are listing crypto. you are fucking living under a rock.

[Anonymous No.23900225]

>>23899786
By your definition no medium or store of value is secure, fuckwit

[Anonymous No.23900248]

>>23898796
Why shut it down when they can just tax you and squeeze the fiat on/off ramps? Personally ill be paying my government thousands for them not doing anything

[Anonymous No.23900250]

>>23899825
You can't prevent in person or Dex exchanges between fiat and crypto. I can always trade some bitcoin to someone for a toaster

[Anonymous No.23900261]

>>23900248
They can't do that for privacycoins so those likely will be banned. I can't waitt to see what reasoning they give though

[Anonymous No.23900297]

>>23900261
Sweet what will people be doing with their privacy coins? Bartering like peasants? Who cares there are actual criminals laundering millions

[Anonymous No.23900338]

>>23900297
Don't get your point

[Anonymous No.23900509]

>>23900338
There are bigger fish to fry. Whats wrong with the current systems? Makes half this board shit their pants and the other half wanting to move to a 3rd world country. How effective is specifically blocking certain protocols when criminals can currently launder there money legally through current tax loop holes

[Anonymous No.23900649]

>>23898809
Shut off certain power grid, also radio wave jamming

[Anonymous No.23900679]

>>23899207
>privacy coins banned
>buy bitcoin
>trade for XMR on shady anonymous exchange
>VPN to mask monero node traffic
????

[Anonymous No.23900759]

>>23898993
This is the real answer.
200 out of 201 ban it completely (while destroying internet and every e2e client available lol), 201 country (Russia for example) says we use crypto here and accepts crypto refugees and gets trillions in taxes in a year.
/thread

[Anonymous No.23901106]

>>23900759
The will distribute their own bullshit "sovereign" token and attempt to keep people out of bitcoin

[Anonymous No.23901213]

>>23899034
Literally NKN. Completely anonymous networking.

[Anonymous No.23901221]

>>23898796
>its lights out
your brain

[Anonymous No.23901237]

Eat the bugs, goy.

[Anonymous No.23901254]

>>23898796
It would require a world government to do this effectively, which we dont have (yet)
I'm just hoping to make it within the next year because time is ticking

[Anonymous No.23901259]

>>23898796
Did they kill off gold? No? There's your answer

[Anonymous No.23901318]

>>23901106
No, there is no profit in this, because people won’t flee to this country then. If some SEA shithole which has nothing to lose says we’re now pro bitcoin it will be in the top 10 richest nations overnight (provided that other countries ban it).
Simple as.

[Anonymous No.23901346]

>>23899578
is there hardware out there that is not backdoored? thanks for posting all of that

[Anonymous No.23901361]

>>23900509
I don't think you understand the problem privacy coins create for states. With a privacy coin, I can transfer an unknown amount of capital with no upward limit, for almost no cost, to an unknown destination. Imagine trying to transfer 1 billion dollars in cash or gold across country lines

[Anonymous No.23901416]

>>23898864
>shut off the internet to stop some people using bitcoin
>rich BTC holders just take a flight to somewhere with internet up and never come back
>meanwhile that country falls into utter chaos as social routines, business, news and communications break down
Genius anon, I can't see how anything would go wrong with this.

[Anonymous No.23901515]

>>23898800
this
imagine buying in way too late being on the records

[Anonymous No.23901623]

>>23899323
>catching wind
this shitcoin has been here way before you newfriend