Recent events involving comments made by Jamie Dimon and the actions of the Chinese Government demonstrate that the war on cryptocurrencies has officially begun. It's now time for everyone who believes in cryptocurrencies to start being more proactive and consider ways in which they can contribute to this cause.
War on Cryptocurrencies Has Begun. Time to be Proactive. | Vlog #95
7 years ago by louisthomas (75)
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you making this video and sharing your ideas is great! your passion to help out is very clear and anyone who is watching and reading your work can tell.
may I ask why you need centralized governing bodies to approve or legalize softwares that they have no control over? we do not need to fight them. we can use this energy to build from the bottom up. you are already contributing by sharing and having open and honest communications.
I am now a crypto evangelist, meeting with local hollywood producers, advertising agenices, actors, fittness coaches, grocery store clerks, family members and teaching them how to use the technology and how it can benefit them and their families. I found the more powerful a person is (someone who had benefited greatly from the current fiat economy) the more likely they are to oppose the idea, so I stopped wasting my energy on those people.
I do not know if these numbers are similar in the UK, but the state of the economy in the usa is completely devastating. this link is of a video I shot yesterday of a book I picked up recently out of a bargain bin. you can help me greatly by sharing this information and attributing the video. everyone who sees this is shocked that this is the reality they live in, and it is so difficult to get people to talk about these things instead of fighting about the NFL or some celebrity trivial nonsense.
thank you friend, it is wonderful to be fighting alongside you once more :)
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I believe the blockchain technology has potential, I believe crypto's have potential. However, for an ordinary person it's almost impossible to pay around $4000 for 1 bitcoin. I don't think governments can just ban bitcoin because they have to shut down the internet, but I fear through regulation and law they can make exchanges illegal (like China did) or perhaps tax every transaction. They will impact the price significantly. Since Bitcoin and alt coins have gone up so much since the beginning of this year, I am very careful investing. The reality is that nobody knows if prices will drop or go up. Personally I think Monero is a better coin in terms of privacy and is undervalued. I'm investing in Monero more when Nano Ledger S will support it! Also wondering what will happen with the fork in November! Perhaps we should also not fear this fork.
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There seems to be this misconception that the minimum amount of bitcoin one can buy is 1.0. That isn't so. You can buy 0.00000001 BTC (one satoshi). Whatever you buy now is likely to be worth at least 10x by 2020.
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Exactly. You can start with a $10 investment in Bitcoin; or choose another token that has promise, like perhaps Steem (the Smart Media tokens may breath new life into this).
I agree with @louisthomas that we are reaching a pivotal time and supporters will have to do more to support crypto-currencies if we want to see them succeed. I agree with what @thehutchreport says at the end of this article https://steemit.com/cryptocurrency/@thehutchreport/cryptocurrencies-the-revolution-will-not-be-televised-it-will-be-steemed
... that we may see a bit of a schizophrenic approach from governments who do not want to have their fiat currencies and banking systems overturned by cryptos, and yet they also do not want to miss out on the economic boom that the growth in cryptos may promote.
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I get what your'e saying, I could buy a small amount of bitcoin of let's say $100. Of course I don't have to buy a full bitcoin. That has pro's and con's. And I have experimented with some small amounts. Just to see how it works. I made some small profits. 30 - 40 USD. What I have noticed is that exchanges have a good thing going on with the fees you have to pay for every transaction. My point was just that I don't trust governments. As soon as things become too good and beautiful for ordinary people some law is made to make it hard for people again. I'm just wondering how long it will take governments in the US, Canada and Europe to come up with som legislative thing to attack the crypto's. I bet they have already been working on it for some time.
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One should never leave crypto on an exchange long term. If you're using Coinbase, you can avoid fees using this trick:
Get a hardware wallet to hold crypto long term.
Andreas Antonopoulos has important advice about holding crypto:
One of these cryptos is going to become the next Google of finance. I'm an IT person and studied Andreas Antonopoulos's book Mastering Bitcoin. The government would have to shut down the internet to eliminate bitcoin. If they do that, then they will have much bigger problems such as the survival of the government itself.
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I disagree. Whenever I buy and sell and transfer BTC It seems there is always a transaction fee much higher was like 0.001 BTC So in practically it seems to me that buying less than 0.001 BTC (0.0001, 0.00001, 0.000001, 0.0000001 etc) does not work as you will pay a higher fee to move the bitcoin than the amount you buying. Just my experience. Same problem with the alto coins. I have 0.0009 Ether stuck in one wallet because the minimum to move it is 0.001 so like with BTC the idea of buying 0.0001 even is ridiculous. Just my experience.
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Consider it an exaggeration to hammer home the point. In actual reality 0.00000001 btc is probably less than 1/1000th of a penny right now (I didn't do the math on this exactly either). But in the future if whatever label crypto this currency goes under becomes the next Google of finance, then one Satoshi will be approximately equal to one penny.
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I agree with what your saying. People believe that because Bitcoin and other cryptos are online the only way to stop them is by shutting down the internet but government regulation is a powerful thing and red tape over all the exchanges will put a huge number of people off and that mass adoption will never happen. Look at all the legislation New York introduced and loads of exchanges were forced to close or move to other states but in doing so they had to exclude people living in New York.
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Indeed, that was my point. Technically the blockchain cannot be stopped unless governments around the world would ' kill ' the internet. But that will never happen because too many instances, departments, (government itself) and companies rely on internet. So I don't think we'll have to worry about that. But...thru regulations and law enforcement , they can make it very difficult for people to buy and sell crypto's. And if they don't ban exchanges like they did in China, perhaps via taxation make it not profitable for people trading in cryptocurrency. For the love of God I hope I'm wrong! I want to be wrong , I want everybody to halve wealth and prosparity, but as soon as something gets too big and beautiful for the majority of people that's where government steps in and kills it :(
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The biggest problem is that inflationary currencies can't compete with bitcoin. The worst thing you can do to a system based upon "full faith and credit" is to place your support outside of the system. That drains power from the USD. Then the fact that bitcoin has a fixed upper limit and that government can't print up all the bitcoin it needs when their fiat fails will severely limit military powers. Governments know this which is why they went off the gold standard. What stops war? Cost. Without inflationary currency, government would have had to ask for $75,000 from everyone for the Iraq war. Obviously they can't do that which is why bitcoin will put a stop to it assuming it can scale to handle the transaction load of Visa / MC.
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The more governments will fight crypto and exchanges, the more traders will opt for decentralized exchanges. Of course, buying any crypto with fiat money will be more difficult but not impossible. For those government who will not endorse this new financial revolution, they will be left in the dust so to speak.
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They can try anything against cryptos but they will not going to succeed period.
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The first question Corbyn will have for you is: "How do we tax cryptocurrencies?"
And what will your answer be? More regulation?
And consider how difficult it will be with untraceable coins like Monero...
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What a nice payout :) Well desserved.
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Yeah
Biggest enemy will become the government in cryptos war
Thanks for sharing
:)
Upvoted
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Bitcoin don't care. It will go up in time. Nothing stops this train!!! :)
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Thank You for Posting @louisthomas :-)
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Let's see who will won the war
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The war on crypto has already been won and crypto is the clear victor.
As John McAfee said, "pandora's box has been opened".
There is no stopping crypto now.
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I declare you my favorite ginger! From ginger to ginger: WE ARE AWESOME! Also...thank you for you Vlog, I like your point!
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hahahaaa :D "Only a ginger may call another ginger Ginger"
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Great idea and a great way to support cryptocurrencies.
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I believe that if people have trust over the CryptoCurrencies then it will never gonna fail. So guys whatever the situation is going low, going up do not ever lose hope on CryptoCurrency because this is the best thing happen and it is the future :)
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I concur. Don't believe that "not backed by government" crap either. They are bankrupt.
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Whoever said disruption was easy? Haha.
Great post but this is just the beginning of a bumpy ride for cryptos. I am about to post about Jordan Belfort's comments - make sure to check it out.
Alex
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2we need to stand together and control our own monetary system!
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Thanks for sharing. The war begun when bitcoin was born. the fact that bitcoin still exist and price continue to climb amidst these onslaught from banks, government and businessmen is a testament that bitcoin is unstoppable. I thought this blog nailed it https://steemit.com/bitcoin/@sandalphon/digital-currency-past-present-future-bitcoin-is-on-the-run-next-stop-usd8-500.
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Having governments involved in crypto can only lead to bad things. We need to use cryptos to remove centralised control and ultimately remove the need for government.
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I saw Tony Robbins also gave his two satoshis on Bitcoin saying investing in Bitcoin is like "taking a trip to Vegas". Tony Robbins. Seriously? I think I have seen it all now :)
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Hi Louis,
Thank you for the great analysis.! really appreciate your effort!! All the best for the future !!!
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I think getting people involved by commiting themselfs through buying some crypto's has the best effect. Whenever there assets are on stake they will want to read more about it and than they will find out there is lots more to crypto than easy profit. I don't really believe in politicians for making a difference. In the beginning they might be enthousiastic and honest like yourself but after a while most of them get corrupted, dissapointed or threathend. I wish you all the best!
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good luck with talking to the dinosaurs! be interesting to hear the views from paul mason though - he hates the banks!
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@louisthomas a really great post, well done. I think you'd like my series Crypto Nights - our first episode briefly looked at the influence of the Government. The fourth episode has just been uploaded and looks at Monero - maybe thats a cryptocurrency that Government can't find a way to ban? Would love to hear your thoughts.
Up-voted and followed!
Anton
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The more governments will fight crypto and exchanges, the more traders will opt for decentralized exchanges. Of course, buying any crypto with fiat money will be more difficult but not impossible. For those government who will not endorse this new financial revolution, they will be left in the dust so to speak.
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