Post
Topic
Board Speculation
Re: Gold collapsing. Bitcoin UP.
by
rocks
on 25/03/2015, 01:55:59 UTC

Yesterday it was the same with gold, they didn't outlaw gold per se, instead they said you had to transfer gold to the gov who gave you an equivalent amount of dollars that were the same as gold, that they could now track within the banks.

Today it is the same with cash, they are not outlawing cash, but any amount or transaction above a nominal amount has to be kept in electronic form in bank accounts, enabling full tracking and ownership by the government, this is today. They could easily legislate this for bitcoin.


They were able to introduce paper dollars because these are, in many ways, better than gold coins; then they were able to introduce electronic dollars because these are, in many ways, better than paper dollars. But this works as long as the new system reduces friction in payments. Now the game is over.

Agree with you, that is why I am here and invested. But I'd characterize bitcoin as "having a fighting chance" because the system reduces friction, not that "the game is over". It will be a long battle, and they haven't even started to use the various tools at their disposal.