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Bitcoin Comes Under Senate Scrutiny

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Re: Bitcoin Comes Under Senate Scrutiny

#51

Earlier quoted context omitted.

Are you trolling? The Pirate Bay is doing better than ever.

But it's not a legitimate method of obtaining (a lot of) data. The only legitimate uses I for BT I've used are WOW updates and maybe getting Linux distros. The Pirate Bay may still be up, but it's a shady corner of the internet. If businesses can't legitimately use BC, it doesn't matter if I can still do shady things with it.

The world's black market is huge. The world is bigger than just U.S. If Bitcoin is banned from U.S., it won't be stopped anyway. Like war on drugs, war on Bitcoin will only raise its price.

At the same time, every person even in the government or banking sector, would love to keep his earnings and bribes in a secure highly-liquid asset Bitcoin is.

The war on Bitcoin won't be about forbidding usage, but about seizing bitcoins from mortals to rulers. And eventually it will displace fiat currencies and take out a lot of artificial power that is created via money printing. Then this war will be over and people can back to daily peaceful life and work. (Yes, wars will become completely unsustainable due to lack of debt-based funding.)

Re: Bitcoin Comes Under Senate Scrutiny

#52
post #32

Earlier quoted context omitted.

Inversely, it will only weaken Bitcoin, and erode any credibility it has.

I would say it has stood the test of time for a few years now. Every attempt thus far (directly or otherwise) has strengthened it economically. The price is now around $250usd, doubled in the last month since silk road was closed down.

i don't think you can say the test if time when it had only been a few years.
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