The ongoing discussion about whether Bitcoin can be outlawed by governments continues.
While it is likely too late, with Bitcoin, there are things that can be done. Along with their guns and jails, they also could backstop the buying by banks to end up destroying BTC.
In this video I discuss how Bitcoin will likely not only be legal but will be the realm of the elite. The rest of crypto is where the average Joes and Janes can play. It is where we can see defense against the major players.
▶️ 3Speak
While they can't kill it outright, they could make it illegal to mine, hold, or transact in punishable by heavy fines or jail time. They could shut down the centralized exchanges, eliminating all legal fiat gateways. These two moves alone wouldn't kill it, but they would severely cripple it pushing it back into the shadows and the price would be much much lower than it is today.
Without a doubt, they could make it very painful for Bitcoiners. They still have their jails and guns which are very powerful.
However, with institutions getting involved, it is unlikely that they go full tilt after it. After all, the regulators and Wall Street are on the same side.
Ultimately, we just need to keep expanding the entire industry.
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Yep, the more money that flows in, and the more billionaires we have on our side (and by extension politicians), the less likely there is a bad ending here. The faster we get YUGE the better!
Looking back now that you mentioned it, they should have killed Bitcoin when they had the chance. I think they could have done it. Do you take requests for future vlogs? If so I would like to hear more about your thoughts on taxes and the IRS. As it would pertain to Hive and the ecosystem.
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Sure I can do some of that in the future although I am not an expert on Tax Law. My dad is the accountant in the family. LOL.
I will have to watch @nealmcspadden's videos to get up to speed.
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That would be great, I'm still up in the air on the whole thing and leary of it too. I'm afraid to open that can of worms.
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Nice info
No kidding, he is a treasure trove of information. Sometimes I enjoy watching a video instead of reading a post. Do you think they will outlaw Bitcoin?
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