Bitcoin

[Wales-Bales]

Mostly used by criminals, action required.

http://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-latest-updates-uk-regulation-theresa-may-control-ban-digital-currencies-cryptocurrencies-a8177631.html

[Eric Cartman]

Mostly used by criminals, action required.

http://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-latest-updates-uk-regulation-theresa-may-control-ban-digital-currencies-cryptocurrencies-a8177631.html

It doesn't take much does it? Price has dropped $1k today.

[Badly Ironed Shirt]

I saw the headline "Theresa May to take action against bitcoin"

The truth is - there is nothing she can do is there , if people want to trade in eggs rather than money - they can do, if people want to buy and sell 'stuff' in Dinah , scheckels or horse dung - that is up to them. And more fool them if they some how lose out.

The UK Govt underpin sterling, that's what they control. The problem every Govt has is if a digital currency for which no one is responsible becomes an acceptable , trustworthy and alternative currency - then the Govt has a problem. A bit like the US cant stop some central American countries from using the dollar.

As for the bitcoin investors - well done if youve made money - but the day it becomes common knowledge is the day it also becomes a ponzi scheme - which is what it is.

I think there is some other motive for this. Crypto currencies could, potentially, be a threat to more traditional currencies. We are a million miles away from that scenario, but a number of world leaders have spoken against it.

Complain about nasty criminals, and erode human rights - May has form.

[Badly Ironed Shirt]

It doesn't take much does it? Price has dropped $1k today.

That's not down to May's statement, though.

[Rock_Flock_of_Five]

That's not down to May's statement, though.


Not soley, perhaps. However, statements that get released by world leaders, like May, certainly do impact on cryptocurrency. South Korea's president has publicly declared a crackdown on the exchanges in his country, indeed he talked about banning it altogether ... and with that there followed a bloodbath in crypto' land with huge losses.

[Rock_Flock_of_Five]

If a digital transaction is taking place in another country between 2 individuals - then I fail to see how any Prime Minister can 'ban' it - ban what - a transaction between 2 entities ? - never going to happen.

What will happen is that they some how crack it - and then it becomes destabilised - then the money just drains away from it - end of story


Well, if China bans the mining of Bitcoin, for example ... it would probably signify the end of Bitcoin (China mines the bulk of Bitcoins). If the banks refuse to accept transfers from cryptocurrency exchanges, then how would investors be able to cash-out their gains? Governments could simply shut down exchanges ... Korea has already done so and so has India.

[Mrs Steve R]

Mostly used by criminals, action required.

http://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-latest-updates-uk-regulation-theresa-may-control-ban-digital-currencies-cryptocurrencies-a8177631.html
In full HD. :biggrin:

[Eric Cartman]

If a digital transaction is taking place in another country between 2 individuals - then I fail to see how any Prime Minister can 'ban' it - ban what - a transaction between 2 entities ? - never going to happen.

What will happen is that they some how crack it - and then it becomes destabilised - then the money just drains away from it - end of story

The irony is that all the bitcoin 'investors' on social media talk about it as the future of currency yet they have never actually bought anything with it. Purely speculation, hold and hope. The ramping has gone into overdrive as the dream appears to be fading away.

[Wales-Bales]

I think there is some other motive for this. Crypto currencies could, potentially, be a threat to more traditional currencies. We are a million miles away from that scenario, but a number of world leaders have spoken against it.

Complain about nasty criminals, and erode human rights - May has form.
Being an observant person, I have noticed that she is sometimes blinky-blinky when she talks, even shutting her eyes before she says some words. What if anything does this mean? I wish I knew more about body language and how to interpret the various signals.

[joecity]

Being an observant person, I have noticed that she is sometimes blinky-blinky when she talks, even shutting her eyes before she says some words. What if anything does this mean?

She's trying to stop herself laughing out loud at the rubbish coming out of her mouth,.summoning up the courage to tell another porkie.

[Wales-Bales]

https://www.youtube.com/watch?v=zoieErQEmvA

[Blue in the Face]

I saw the headline "Theresa May to take action against bitcoin"

The truth is - there is nothing she can do is there , if people want to trade in eggs rather than money - they can do, if people want to buy and sell 'stuff' in Dinah , scheckels or horse dung - that is up to them. And more fool them if they some how lose out.

The UK Govt underpin sterling, that's what they control. The problem every Govt has is if a digital currency for which no one is responsible becomes an acceptable , trustworthy and alternative currency - then the Govt has a problem. A bit like the US cant stop some central American countries from using the dollar.

As for the bitcoin investors - well done if youve made money - but the day it becomes common knowledge is the day it also becomes a ponzi scheme - which is what it is.

That's a good post.

I also think it will come in to the public discussion that constructs like Bitcoin will over-ride democracy and the power of democratically elected governments. Therefore take power away from the people.

I hope it crashes and burns. (After CCMBers get their money out).

[Rjk]

Theresa is just trying to lower the price of bitcoin, before she lumps on the NHS budget and then all she has to do is sit back and wait for the money to come rolling in.

Its a bold brexit strategy for a new Britain

[Badly Ironed Shirt]

Being an observant person, I have noticed that she is sometimes blinky-blinky when she talks, even shutting her eyes before she says some words. What if anything does this mean? I wish I knew more about body language and how to interpret the various signals.

It's the mouth that I notice, and I have seen people make similar expressions when having to apologise (for example) or make a statement they don't necessarily agree with.

After the NHS crisis, May was on Radio 4 talking about "Window" computers. She has zero knowledge of computers but was instrumental in bringing in the snooper's charter. A little knowledge is dangerous, especially when it is supplemented by "advisors" spoon feeding you horror stories about how the internet is all pedophiles, terrorists, and porn watchers.