Comments

Listener Feedback for 3-6-23 – Epi-3262 — 6 Comments

  1. I’m not arguing against Bitcoin, I’m not advocating for Bitcoin.
    I have a serious and respectful question regarding Bitcoin that hasn’t been addressed, not even with your podcast guest Brian Harrington. Currently you’re able to purchase Bitcoin with Fiat and turn Bitcoin into Fiat, but that will change. Government goals are Digital Currency, eliminating Fiat. This will happen 100%, not tomorrow but in the future it is a certainty. From a common sense standpoint, this appears to be fatal for Bitcoin. It would turn the Bitcoin market into an exclusive Bitcoin for Bitcoin as it would be impossible to incorporate anonymous untaxed Bitcoin into the Government Digital Currency. Also it has been reported that when Governments Centralized Banks control Digital Currency, they would classify Bitcoin as “Counterfeit Digital Currency” because it’s not regulated and taxed, and instituting heavy penalties against purchases made with Bitcoin such as Real Estate, Personal Property, etc, and outlawing supermarkets, gasoline stations, etc from Bitcoin use.
    I’m not asking about some of the most successful financial minds in business dismissing Bitcoin because that’s speculation. I’m not asking about turning off the internet because that’s not based in reality.
    I am asking about what Governments and the Laws they will pass will have on Bitcoin.
    In the past when I asked this question I was given replies of insults and sarcasm without addressing my question or concerns. I’m hoping for an honest, respectful response.
    How does Bitcoin survive in the Government’s Digital Currency System ?

    • 1. Do you own a gun?
      2. What will you do if government says you can’t have it anymore?
      3. Since most governments already outlawed guns, why even bother owning a gun?
      4. Isn’t outlawing guns even more likely then outlawing bitcoin?
      5. So why even bother owning a gun?

      I hope that makes a point and doesn’t seem like a full answer at the same time. In any event first I am not of a mind that your full scenario will play out. Bitcoin is property and it is a protocol it is frankly impossible to control. Many nations like say the entire EU, Australia and Canada have approved Bitcoin ETFs, so Bitcoin is now part of teachers pensions, city worker pensions, police pensions, etc.

      You think they are going to outlaw it at this point?

      Additionally an entire bitcoin economy is being built. Could your scenario play out? I guess. Could an astroid kill all life on the planet tomorrow? Yep.

      The reason people basically tell you to sod off is we have heard this and other shit for 10 years, it gets tiresome to constantly have to deal with “but what if” when you begin to feel that the only purpose of the “what if” is to come up with a reason to not buy bitcoin. And it is coming from faceless person on the internet, you don’t know and didn’t initiate a conversation with.

      The SEC has stated MANY TIMES, “bitcoin is a commodity” and the IRS calls it “property”. I am 99% sure it isn’t going anywhere and to me that makes it a better bet then the places you currently have your money, like stocks, bank accounts, etc. If you want 0 risk, life isn’t for you. Walking around the block has risk.

      • Sorry my question upset you, that was NOT my intention. As a faceless person, who sincerely respects your work, I was looking for information. That is a key to survival, knowledge and the ability to fully understand. My point was not that Bitcoin would be outlawed, but reduced to all forms of government regulations including taxation. If ownership of Bitcoin was no longer permitted to be anonymous, and was taxed like stocks, wouldn’t Bitcoin lose value ? The people who tell me to sod off to a fair and respectful question are the people without answers and/or are fearful of the question.
        Outlawing doesn’t work and there are many obvious examples such as prohibition and marijuana. The government doesn’t care about alcohol and pot as long as they regulate distribution and tax the sale. Bitcoin is no different, but my question was to the point Bitcoin loses its anonymous untaxed property status and becomes a regulated commodity, wouldn’t it lose value ?
        Regarding guns…well I don’t want you to tell me to sod off, but if you’re really interested you can watch on YouTube CIA and DARPA scientist Dr. James Giordano: The Brain is the Battlefield of the Future briefing cadets at West Point. Another good on is Dr. Charles Morgan on Psycho-Neurobiology and War. Puts into perspective the significance of a 12 gage or AR against Tyrannical Governments.
        Very scary what “they” can spray into a truck cab while the person is inside Kroger shopping.

        • It didn’t upset me, I gave you an answer. I told you why you get told to sod off with the question elsewhere. If you can’t seperate that, not on me.