Quote:
Originally Posted by NEW XTC
wow I have heard a lot of blanket statements about the future of Bitcoin but this takes the cake. You're ALL IN Squealer...what are you going to do when your wild opinion never comes to fruition...don't hang yourself but no one will blame you if you do.
Who's delusional coming in here implying that Bitcoin exists anywhere BUT outside the banking system - "anonymity will have to go" that's full tard man - major exchanges that are regulated are not anonymous now (mtgox)... and you're totally overlooking that anyone anywhere can buy or sell person to person for cash (or pay though any other digital means (pay pal etc)...countries are "clamping down"? quite the opposite actually - regulations only help BTC not hurt.
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That's not the point he's making and you know it. If the banking industry decide they don't want any banks dealing with Bitcoin exchanges then the price of Bitcoin will drop through the floor and it'll drive out the majority of the speculators that only have money invested due to it's incredible capital gain in such a short space of time.
The potential of Bitcoin as a technology is inexplicably linked and depends on the users ability to convert fiat to Bitcoin and vice versa.
Also TheSquealer hasn't made any "blanket statements" what he has done is make some excellent points, he's one of the few voices of reason in this thread!
Quote:
Originally Posted by TheSquealer
I understand international banking and commerce and anyone who has to do business globally, runs or has ran entities in multiple countries, has to deal in multiple currencies and moves a lot of money around, understands fully that no country is going to allow a fully anonymous currency enabling people to launder money, buy and sell illegal weapons, evade taxes, hire people to kill their wives, buy and sell illegal drugs and fund terrorism.
Countries are slowly clamping down on it and ultimately, it can at best, only exist outside the banking system and with no possibility of it being exchanged into hard currency, otherwise, anonymity will have to go. There are no other possible outcomes.
Thinking otherwise, is just beyond incredibly naive and wishful thinking... and outright delusional and something only someone who doesn't understand the controls and monitoring that goes on in banking and why those rules, laws and regulations and complete and total financial cooperation between nations, exist.
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Nailed it!
Crypto currencies are a direct threat to the consolidation of control the banking industry has managed to exert over us all, that control is only going to continue to increase.
HSBC are now imposing restrictions on large cash withdrawals
http://www.bbc.co.uk/news/business-25861717
You now have to provide them with proof before the bank decides if they want to give you your money.
They're all slowly starting to roll out these policies, next up monthly fees for personal accounts!