Quote from: AnonyMint on November 14, 2013, 10:27:32 PM

I detailed in the links of my prior post how Bitcoiners are going to jail.

Quote from: justusranvier on April 19, 2013, 07:04:26 PM

Quote from: dacoinminster on April 19, 2013, 06:05:11 PM

Does anyone really expect the government to sit back quietly and watch while their currency is debased, terrorism is funded, and children are kidnapped? The only question is when and how they will strike back against these forces. While the government does have a lot of options, ultimately those options only slow things down. At some point, we collectively with our governments face a difficult choice between trying to survive this deadly storm or attempting to destroy all decentralized computer networks (including the internet). The former seems unthinkable, the latter, impossible.

I wouldnt be surprised if this chaos gives rise to a strong, centralized, one-world government which gets its revenues by tightly reigning in freedom of commerce in order to collect taxes. For instance, I will not be surprised to see a requirement someday that every person buying or selling have an implant which tightly binds their identity to the sale. Perhaps the implant will even be located on the back of the right hand or the forehead! This may seem repugnant to you now, but wait until you have lived in the storm for a while before you call it impossible. The natural reaction to the deadly chaos of decentralized currency is for the populace to embrace increasingly centralized controls on commerce. The battle lines are only just starting to be drawn, and your guess is as good as mine for how it will play out.

You overestimate the dedication the government has to their own organization. They are in it for the money, mostly. When it is no longer profitable to keep the structure in place they abandon it.

That's exactly what happened in the USSR. Everybody in the government could see that the system was headed for collapse due to unavoidable mathematical realities, and when that knowledge spread they looted what they could and abandoned ship. The number of true believers who were addicted to power for its own sake weren't great enough in number to hold things together.

The Russian oligarchs didn't abandon anything, and are richer now than they were.

The game theory of socialism never changes, see the links in my prior post.

Quote from: justusranvier on April 19, 2013, 07:04:26 PM

The same thing will happen to the western governments when socialism collapses here. As Bitcoin grows large enough to represent a real threat governments might make noise about regulating it or shutting it down, but the entire time politicians are spewing hot air insiders throughout the bureaucracy are going to be quietly stashing whatever money they can get control over in Bitcoins. All the scare stories that pop up between then and now are designed solely for the purpose of scaring early adopters into letting go of their bitcoins so those who don't have them yet can buy in cheaply.

Pure fantasy to propose the masses (the 99%) are going to tolerate a 100000X devaluation of the western financial system handing half of society's net worth to the bitcoins minted in the first 4 years.

To be a viable currency, Bitcoin would have to be distributed to the masses, because the 97% only gain their wealth from money spent as currency. The wealthy Bitcoin early adopters aren't going to spend, rather they will invest their coins to gain more coins than they had.

Thus the masses would be forever impoverished in Bitcoin's coin supply model.

Sorry Buttcoin is a Trojan horse. See the links my prior post for details.

You seem to think that Bitcoin is going to destroy fiat. It's probably not gonna happen. The existence of gold doesn't destroy fiat for example.

Think about the fact that to reach 100 000$ per BTC, Bitcoin needs only to capture 15% of the value of the gold market, without the need to capture any value of the fiat market.