[Drako]

It seems the government has finally caught on to the threats that Bitcoin and other cryptocurrencies facilitate, because the Federal Reserve stated that it should be more closely regulated. Shortly after, Trump said that Bitcoin was, "based off of thin-air". Now Bitcoin stocks are falling. What do you think this means for cryptocurrencies in the future?

https://www.forbes.com/sites/billybambro...4eb5f91a59

[mothered]

the Federal Reserve stated that it should be more closely regulated

In my view, this was bound to happen.

I'm Interested to see precisely the type of regulations they (plan to) put In place.

[Dismas]

Trump said that Bitcoin was, "based off of thin-air".

It's funny, because the U.S. dollar is also "based off of thin-air". It hasn't been backed by anything since 1971 and is controlled by the Federal Reserve. One could argue that Bitcoin is based on electricity use, which is more than most currencies nowadays.

Spoiler:

[roastedtv]

Like @Oni said, in order for a currency to have value is that it needs to consume energy or material that in which itself costs that currency. For example, I have read before that that american dollar consists of cotton fibre which results in the dollar bill to actually have a value of one dollar. However this method does not work for the 100 dollar bill. Because its made from the same material. Therefore, the most effecient currency is always physical coins. Honestly, I believe that some of the systems our ancestors made are more sensible and better than our current systems ,however this is my opinion.

[Tracefl0w]

It's funny because Mnuchin doesn't represent the whole Federal Reserve, clickbaity indeed.
However, the much bigger national security threat is actually the White House itself. They seem to be signaling that they care more about the illicit use cases of cryptocurrencies, but they make no acknowledgment of the decentralized nature of Bitcoin. "Bitcoin is highly volatile and based on thin air", makes me wonder what the US dollar is based on with an average decrease in purchasing power of 2% every year

[natifix]

Trump said that Bitcoin was, "based off of thin-air".

It's funny, because the U.S. dollar is also "based off of thin-air". It hasn't been backed by anything since 1971 and is controlled by the Federal Reserve. One could argue that Bitcoin is based on electricity use, which is more than most currencies nowadays.

Spoiler:

well that's just it right there... yet I wonder if you can make a greater connection from this understanding?

FIAT currency is the issue, and its not just the Dollar that is fiat based. If you have NOT figured it out yet... THE FED RESERVE is the single entity that needs to be wiped out in order for any change to occur on planet Earth. IT controls not only what happens in America, which sin't American at all, its British as an extension only created to pay off debts to British and English Banks! I sense a lot of people ACCEPTED the idea that 1492 was the day America was discovered and they did so cause they wanted to save themselves from a corrupt government etc. Wrong, it was created to pay back debts after creating a new trade exploitation of the new land and its inhabitants.

back to the topic at hand though. Nazi's and their mentality to rule others... now imo don't mean you have to be a Nazi to be a Nazi. you can be a jew too, just ask Hitler. The whole point is to lie SO blatantly and in public that no one dares to criticize it. Who will stand up to the Fed? Hackers? Militia Men? China? Russia? LMAO... I dont think so... I had always hoped we would kick these fagots out and create a better world for EVERYONE ... but I SEE now, that the world is full of really small people... who are EASY to step on and shit all over, I wont wait up, and I wont bend over backwards. I deserve better and thats all I can fight for. I cant fight for others who want this very tyranny and control.

as they say, no one, can argue with ignorance. You know what ya know. I know, the Federal Government, is the Nazi 2.0 in its simple form. CIA was created to ensure survival of US economy... FED gives them a blank check... AND our so called accountable Government, asks about no accountability from these extensions. Sad, No one seems to understand where DEPT of HOMELAND Security came from... any guesses? lol 0/ ?

maybe its the cool aid, maybe everyone is just retarded. perhaps they dont care about anything but themselves... or ya all just feel these lil pussies in suits are too tough a target to handle ...

id rather three weeks of uncomfortable life for the rest of my life true freedom... but everyone else seems to be backwards where, you get like 3 weeks freedom - likely when you are a kid or born before labeled with a SS number... so they live the rest of their fucking lives sad and under the control of others.