You just have to love bankers. They still do not get it!

[AlwaysAway2]

https://www.cryptocoinsnews.com/bitc...nk-canada-ceo/

Translated this means....

The blockchain might be really good but we want you all to use our currency NOT Bitcoin.
Too late you banking guys.
We have Bitcoin ...Litecoin ...
We will NEVER EVER use your version.

Of that I AM CERTAIN.

[Wales-Bales]

https://www.cryptocoinsnews.com/bitc...nk-canada-ceo/

Translated this means....

The blockchain might be really good but we want you all to use our currency NOT Bitcoin.
Too late you banking guys.
We have Bitcoin ...Litecoin ...
We will NEVER EVER use your version.

Of that I AM CERTAIN.

What happens when we go cashless, which is clearly the aim? Couldn't the government's, banks and major corporations simply refuse to deal with these technologies? It's only the ability to turn them into cash that makes them attractive, or have I got the wrong end of the stick?

[AlwaysAway2]

It is a VERY good point.
The key thing to get ones head around is that ... having Bitcoin or their subdivision satoshis OR indeed Litecoin will be the norm.
No one will want Dollars or sterling or other fiat currencies at all.
As BTC and LTC take over .... everyone will be seeking to acquire some decentralised cryptocurrency of their own.
The main reason is that unlike the money we use now the cryptos will over time appreciate in value.
It sounds ridiculous I realise but this obsession with wanting to get your Cryptocurrency back into a fiat currency is misguided longterm.
AJMHO
(All Just My Humble Opinion)

[Llanedeyrnblue]

It will all end in tears

[AlwaysAway2]

It will all end in tears

No. Not if you only invest money you can afford to lose in Cryptos.
Don't get greedy. Just get a little and enjoy the ride. It has barely started yet.
AJMHO

[Feedback]

It's not bankers who drive the value of fiat currency, it's the fact you can pay your taxes with it.

If governments ignore crypto and implement fx controls, then how is it's value derived?

[Wales-Bales]

It is a VERY good point.
The key thing to get ones head around is that ... having Bitcoin or their subdivision satoshis OR indeed Litecoin will be the norm.
No one will want Dollars or sterling or other fiat currencies at all.
As BTC and LTC take over .... everyone will be seeking to acquire some decentralised cryptocurrency of their own.
The main reason is that unlike the money we use now the cryptos will over time appreciate in value.
It sounds ridiculous I realise but this obsession with wanting to get your Cryptocurrency back into a fiat currency is misguided longterm.
AJMHO
(All Just My Humble Opinion)

Once the fiat currencies are gone the governments will have full control over which digital currencies can be used for transactions. Couldn't they just start one of their own and transfer everybody's assets into it?

[Organ Morgan.]

Here's one take for consideration. http://www.shtfplan.com/headline-new...of-it_10202017

Crypto Currency Calm Before The Storm: “Governments Are Studying It To Find The Means To Take Control Of It… And You”

Jeremiah Johnson
October 20th, 2017

The United States (and the world) has been using the worthless fiat federal reserve note that is not backed by any true tangible asset. The only backing is not even the “full faith and credit of the United States government,” because the government is too far in debt to have any credit. Faith disappeared a long time ago: our faith in elected officials as public servants. Instead, they serve themselves upon the labors of the public, and the public services them, in every sense of the word.

Cryptocurrency is an illusion. The new “shell game” is to replace one illusion…the fiat currency…with another illusion, the “bitcoin.” Russia announced last week several measures to “deal” with the Cryptocurrency…first, by issuing a Crypto-ruble. If you read the fine print, the Russian government is moving in to tax and regulate it, at a rate of 13% on trades for profit, as well as “Crypto-Rubles” that suddenly appear out of nowhere.

It won’t affect the Black Market as much, because 13% is going to be paid to turn a blind eye to the billions of rubles being stolen by the Russian Mafia and oligarchy alike. The gimmick here is for the government to take a chunk out of it: for now. The reason “now” is being used, is that eventually they’ll shift gears, pass legislation, and eventually outlaw private trading in it that is not government-sanctioned or government-approved.

A government is only concerned with perpetuating itself and maintaining power. The most basic way it does this is by controlling the currency of the nation, regulating it, and taxing the citizens. In the United States, it has been reported by several sources that JP Morgan Chase is going to embrace Cryptocurrency. Europe is well on its way to establishing a “Euro-BitCoin,” and China has recently relaxed some measures regarding it.

This is the calm before the storm: the governments are studying it, and studying the masses to find the means to take control of it.

The gullible masses are playing right into their hands. The problem with Cryptocurrency is not just in the fact that it is backed by nothing (a fool’s errand before it has been started), but there is no privacy. None. If the governments control and monitor all electronic and computer media, then there is no such thing as privacy regarding electronic currency. This will be the death of cash, and thus the death of any privacy for citizens.

There will be no hiding from the taxing authorities. All the accounts will be monitored: taxed on any growth, and every single penny accounted for. The government will know what work you do, for how much, and how much “Crypto-currency” you have in your accounts. All electronic, nebulous, unbacked garbage. How about a nice “glitch” where suddenly, your entire account falls to a zero balance? That “glitch” can happen anytime.

No, the politicians and the oligarchs will have gold, silver, real estate, mining rights and contracts, and ownership of every utility and municipal function upon which the public is dependent. Eventually the Crypto-Dollars will be handed out sparingly to “exchange for food, clothing, and to pay their bills,” and the whole thing is designed for one thing:

To keep the population at a starveling, subsistence level while those in power own everything, and them as well: Ruled by the politicians and oligarchs, fooled by the press and the religious pulpits, and killed by the enforcement arms of police and military.

In 1910, the meeting on Jekyll Island, Georgia took place leading up to 1913. It was then that the framework for the transfer of the power of the U.S. government over the nation’s currency to the federal reserve was established.

“The real truth of the matter is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson.”

President Franklin D. Roosevelt’s letter to Colonel Edward Mandell House,

Fmr. Advisor to President Woodrow Wilson November 21, 1933

The aim is global governance. The Cryptocurrencies arose out of a desire to use something other than the dollar and other failing fiat notes not backed by anything. The irony is that the Cryptocurrencies are the vehicle for the globalists.

Once each nation has its Cryptocurrencies in place, they can “align” them, and virtually abolish all economic buffers and barriers…which will come crashing down just as the illegal aliens in Europe and the United States are destroying the borders, language, culture, and societies. The whole thing is trumpeted as a recourse, but it is nothing more than an extension of an Alinsky principle “organizing the organized.” At the right moment, the governments will swoop in, regulate, and tax these Cryptocurrencies.

Once cash is eliminated, hard assets such as gold, silver, and other resources will be simple to control. Where did you obtain that gold? How did you obtain it, and is it in our records?

The power lies in the receipt, the payment receipt showing where you obtained that product and how you obtained it…all based on POS (point of sale), the electronic monitoring of every expenditure at the register. The “successful” employment of Cryptocurrency will mean that the people have been completely duped and have handed all privacy into the control of the government. Once they control everyone economically, they will use that control to seize other aspects of daily life that are not regulated. They’ll know how much you make, where you work, and how much you have available.

Or what you think you have available, because in the blink of an eye, they’ll make your Crypto dollars disappear, and you’ll have no recourse, just as they have no accountability. If politicians steal money now, while cash still exists, think of how much they’ll be able to steal when everything is done electronically…when all the bankers and oligarchs are under their control/in a symbiotic-parasitic relationship and they can pass any law they wish. Cryptocurrency is a scam that will eventually lead to the final enslavement of the U.S.

[Organ Morgan.]

What happens when we go cashless, which is clearly the aim? Couldn't the government's, banks and major corporations simply refuse to deal with these technologies? It's only the ability to turn them into cash that makes them attractive, or have I got the wrong end of the stick?

Each time every one of us make a payment electronically we are inexorably tightening a financial noose around our necks 'cos when cash, and with it privacy/anonymity, is eliminated then we're truly fecked by being completely at the mercy of government and those who pull its strings.

[Vimto]

Each time every one of us make a payment electronically we are inexorably tightening a financial noose around our necks 'cos when cash, and with it privacy/anonymity, is eliminated then we're truly fecked by being completely at the mercy of government and those who pull its strings.

I'm rearing some goats, with which to barter.
Damn .. I used my card to pay for their shed and the straw .. doh ..

I get your point. Not sure what we can do about this. Genie is wholly out of the bottle.
'Collectively' very few will be concerned over potential to monitor spending habits. Yet collectively we should be concerned.
Many will now prefer to be seen (especially to be seen ) paying with an eye-Phone via Apple Pay - or the likes - than be concerned about anonymity as a consumer.

TBH, we've hardly been anonymous consumers for decades now.

[Organ Morgan.]

Other than your last line, I agree with everything else you wrote.

Barter for practical purposes would be extremely limited.

Every government would adore cashless as it would lend them much greater control than they enjoy presently. Anyone viewed as a dissenter would have their bank balance reset to nil.

[Organ Morgan.]

Coincidentally, I have, as an experiment, deliberately spent the past fortnight 100% cashless. Using two debit cards, one of which is contactless, I haven't spent a bean with cash, and I can easily see the attraction of being beguiled with plastic, particularly with the contactless one where I didn't have to summon the strength to push a card into a machine and enter a four digit PIN. The downside was I couldn't buy two coffees at an outlet upstairs at Cardiff Central Market or have a haircut at a barber's in Abercynon as neither had the facility to accept debit cards of any description.