Will the u.s. gov’t outlaw bitcoin?

Elna Haag asked a question: Will the u.s. gov’t outlaw bitcoin?
Asked By: Elna Haag
Date created: Tue, Jun 29, 2021 12:55 AM

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❔ Will america outlaw bitcoin mining?

2021-03-29T06:42:35+00:00 2021-03-29T08:51:02+00:00. Ray Dalio, the American billionaire investor who previously called Bitcoin “one hell of an invention,” recently came out with a grim prediction for the cryptocurrency. Specifically, Dalio believes that BTC could be “outlawed” by the United States government.

❔ Will the us government “outlaw” bitcoin?

Specifically, Dalio believes that BTC could be “outlawed” by the United States government. Indeed, Dalio said last week that “back in the ’30s in the war years … because cash and bonds were such bad investments relative to other things, there was the movement to those other things, and then the government outlawed them,” Dalio told Yahoo Finance .

❔ Can the government outlaw bitcoin?

In this blog, we are going to discuss whether — can the Government outlaw Bitcoin? Even though the Government intends to shut down Bitcoin, they cannot truly cease the network. In lieu, bitcoin has...

10 other answers

Bitcoin has no ties to a true currency, the courts determined. Therefore it is a digital asset… not a currency. Its decentralized nature means it’s no more than a digital commodity. It can’t be banned. If they were to try… they’d fail. Here to Stay. It’s a good thing our masters in Washington see Bitcoin as a threat.

Ray Dalio, the American billionaire investor who previously called Bitcoin “one hell of an invention,” recently came out with a grim prediction for the cryptocurrency. Specifically, Dalio believes that BTC could be “outlawed” by the United States government. Indeed, Dalio said last week that “back in the ’30s in the war years … because cash and bonds were such bad investments ...

Billionaire investor Ray Dalio, the founder of the largest hedge fund in the world Bridgewater Associates, with $150 billion in assets under management, has said there’s a “good probability” the U.S. government could outlaw bitcoin, the same way it outlawed gold in the 1930s.

Bitcoin is a software network that runs on a network spread all over the globe. It is a decentralized network designed only to prevent such shutdowns. Bitcoin is Code, The US government Cannot Ban Code. What Bitcoin detractors forget is Bitcoin is a free speech and can’t be banned in the US, thanks to the First Amendment.

RAY DALIO: Bitcoin has proven itself over the last 10 years. It proved it hasn't been hacked. It's by and large therefore worked on an operational basis. It has built a significant following. It ...

Dalio’s most notable objection to Bitcoin, however, was that “if it becomes material, governments won’t allow it; I mean, they’ll outlaw it.”

Cryptos Bitcoin could become ‘outlawed the way gold was outlawed’ in 1934, speculates Bridgewater’s Dalio Last Updated: March 27, 2021 at 10:16 a.m. ET First Published: March 24, 2021 at 12 ...

When some people think that governments can't really ban bitcoin because the bitcoin nodes can always exist "underground" and keep mining over VPNs, and the government has no mindreading technology to know which citizens have memorized a 12-word passkey to their wallet, and so on... that's a naive view of the coercion tools the government has at its disposal.

Right now, Bitcoin is a popular form of cryptocurrency that operates using blockchain technology. Like the description above, Bitcoin is decentralized, its transactions are anonymous, and no central bank is involved. But the irony is, the blockchain tech behind the Fed's idea isn't likely to be used the way Bitcoin uses it. Not even close.

Very possibly, Bitcoin could still survive at the margins (as the Hawala system has survived). Quick research – accessing the very link that Farrell himself provides, actually – illuminates the fact that Hawala and Bitcoin have very little if anything in common. For starters, Hawala always involves a third-party to escrow, move the funds, take a risk, and collect a fee.

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