There are a number of things I laugh about every day related to Bitcoin. When I see certain news headlines, I say to myself "Bitcoin user not affected.
Some examples
Here is a website with some pretty funny memes.
My most favourite phrase of all time is
"Government bans bitcoin - Bitcoin user not affected"
There is nothing the government can do to stop the coming onslaught of bitcoin. It might take years or even a decade, but the government can't simply stop Bitcoin
I like to think of it this way. Say you had a house on a lake. For some reason, the level of the water keeps rising over the months, and doesn't ever stop.
The first thing you do would look at the water and say "hey look, its rising". This is where the bitcoin/government relationship is right now.
Next, you would get slightly concerned about the rising water... You'd think of what you could do to protect your house if the water raises further. You think "maybe i need to build a sandbag wall". Congress said last week, "maybe we should pass some laws"
When the water keeps raising, you then build your wall and say "there, that will stop it" But the water just keeps raising, so you make your wall taller and taller. This will be the "regulations" that the US government will impose on bitcoin.
Eventually you get more concerned with the raising threat, and you build a glass dome over your house.
The water then raises over your sandbag wall, and starts raising against your dome.
Given enough time, your dome is 100' under water and you cannot escape.
Bitcoin is unstoppable. If they regulate it, users will find ways around the regulations. If they outlaw it, it will go into the black market. If just one country of the 236 that exists in the world that is bitcoin friendly, they will have a huge economic growth period, and bitcoin users and companies will move there.
The best thing regulators can do is impose some minor regulations on it, to justify its existence, and move on. If I was Big Ben Bernake, I would even buy a couple hundred thousand, so that when the US dollar crashes, the government has a backup system.
The only way to save your house on a lake is to build a raft underneath it, so you can ride the rising waters of bitcoin.
If you want a current example of what I'm saying, just look at other illegal things, the most common of which is drugs.
Drugs are illegal, and the war on drugs has done a few things
1) Cost us taxpayers 1 trillion dollars link (just US tax payers)
2) empowered Mexican drug lords with massive profits. Killed thousands of people.
3) driven drugs into the black market
4) overpopulated prisons (at more expense to taxpayers)
The war on drugs has in NO way stopped the consumption of drugs
What if drugs were legal, and the government taxes the crap out of them. Not only do you eliminate the costs above, but you generate massive tax revenue. Before prohibition, federal tax receipts were 70% from the sale of alcohol.
The biggest opponents of the legalization of marijuana, are marijuana dealers and growers.
Another example is Prohibition. Alcohol consumption actually increased during prohibition.link Modern organized crime was funded by prohibition.
You cannot regulate morals and beliefs.
If you want a current example of what I'm saying, just look at other illegal things, the most common of which is drugs.
Drugs are illegal, and the war on drugs has done a few things
1) Cost us taxpayers 1 trillion dollars link (just US tax payers)
2) empowered Mexican drug lords with massive profits. Killed thousands of people.
3) driven drugs into the black market
4) overpopulated prisons (at more expense to taxpayers)
The war on drugs has in NO way stopped the consumption of drugs
What if drugs were legal, and the government taxes the crap out of them. Not only do you eliminate the costs above, but you generate massive tax revenue. Before prohibition, federal tax receipts were 70% from the sale of alcohol.
The biggest opponents of the legalization of marijuana, are marijuana dealers and growers.
Another example is Prohibition. Alcohol consumption actually increased during prohibition.link Modern organized crime was funded by prohibition.
You cannot regulate morals and beliefs.
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