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University chair of Economics says Big Government will crush Bitcoin

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posted on Sep, 12 2017 @ 05:31 AM
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originally posted by: ANNED
The big problem with bitcoin and other cryptocurrency is that they can cross borders without checks and hide from the law.

The drug cartels are starting to use bitcoin to take there profits out of the US instead of suitcases of cash that can be caught at the border. Ransomware hackers have long used bitcoin to get there ransom so that governments can not track the ransom payoffs.
In the long run criminal use of cryptocurrency will force governments to tighten down on its use.
And it may even cause the cryptocurrency companies to face lawsuits by victims of crimes using cryptocurrency.


Location: China?!

ANNED < -- Chinese Shill ?!?

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But that is the whole purpose of bitcoin, so that no entity or government could regulate or manipulate it; especially create as much as it wants at will.

Ok so drug cartels can use it to transfer funds.. so what!?

I think this is a such a minor problem in comparison to the benefit for the majority of Earthlings. Hopefully Earthlings will figure this out and not fall for the bulls#. Unfortunately big gov't has the big guns.

What is worse ? Little pee-on cartels transferring drug money or the big government transnational cartel having control of your money?


edit on 12-9-2017 by nOraKat because: (no reason given)




posted on Sep, 13 2017 @ 09:34 AM
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I support cryptocurrency becausexim against everything these bankers and their system stand for. Go ahead and ban it! Good luck and all that will happen is a dio for buying up more. Some countries are going full steam ahead with blockchain and only greedy corrupt bankers would be against it.
I want freedom from this fiat 1% dominated world.
Bitcoin scares the he'll out of them and I love it.



posted on Sep, 13 2017 @ 11:29 PM
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originally posted by: nOraKat

originally posted by: ANNED
The big problem with bitcoin and other cryptocurrency is that they can cross borders without checks and hide from the law.

The drug cartels are starting to use bitcoin to take there profits out of the US instead of suitcases of cash that can be caught at the border. Ransomware hackers have long used bitcoin to get there ransom so that governments can not track the ransom payoffs.
In the long run criminal use of cryptocurrency will force governments to tighten down on its use.
And it may even cause the cryptocurrency companies to face lawsuits by victims of crimes using cryptocurrency.


Location: China?!

ANNED < -- Chinese Shill ?!?

-----



you need glasses. NAWS China Lake is a US military research base in the desert of Calif.
en.wikipedia.org...



posted on Sep, 15 2017 @ 07:17 AM
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a reply to: ADSE255

And especially the international bankers. They want to keep running their scam on us. Cryptocurrencies have the potential to break their system.





posted on Sep, 15 2017 @ 07:35 AM
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Here's another video that explains why the central bankers hate/fear bitcoin. It goes into detail on what it is and what it does.





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