The StoNks thread

[Spud]

Originally Posted by GMT6 [You must be logged in to view images. Log in or Register.]

Bitcoin isnt real and they have no value at all, we are very close to the treasury basically making them illegal.

The value of bitcoin, or of anything, is what people are willing to pay for it. What is the value of the US dollar when the treasury can just print it endlessly? Each bitcoin was mined by converting real energy into it. Each dollar was printed by central bankers making a decision and hitting a button.

Why do you think the treasury is close to making it illegal? That's not true at all. We have US senators and representatives who are bitcoiners. Mayors major US cities, CEO's... all coming around to it. It is becoming too entrenched for a full ban at this point.

Even if major nation were to ban (ie China, India), it has happened in the past the price of bitcoin went up.

If the US were to ban bitcoin for some reason, it would be a major blow to innovation in the cryptocurrency space. Game theory would then dictate that another competing nation such as China, India or Russia would out perform the US.

Even with a ban, anyone can easily buy or sell Bitcoin by using a VPN.

Originally Posted by GMT6 [You must be logged in to view images. Log in or Register.]

I am not against crypto but a real company needs to launch one for it to be viable.

Sorry but this is completely wrong. Crypto is all about decentralization. For it to work, you can't have a central authority involved otherwise it would be a security and essentially a Ponzi scheme.