Breaking the back of BTC: 1. Prepping society for regulating crypto. 2. Legacy behemoths co-opt the blockchain.

in blockchain •  2 years ago  (edited)

Are the halcyon days of bitcoin over?

Is the Satoshi Nakamoto inspired anarchist moat slowly, but surely, being breached?

    Consider:
    1. The elites, deep state, NWO, government prepping society 
         for governments to commence regulating crypto-currencies.
    2.  Legacy financial behemoths like the US Federal Reserve 
         System commence their co-opting of the blockchain.

Palpatine's Revenge


Scams

While scams existed long before BTC, crypto anonymity has made it even easier to scam. Consider:


Currency of the dark web

Buy anything on the dark web with BTC, like:


Grassley-Feinstein

US Senate Judiciary Chairman Chuck Grassley (R-Iowa) & SenDianne Feinstein (D-Calif.) sponsored Senate Bill 1241, Combating Money Laundering, Terrorist Financing, & Counterfeiting Act, 2017. is based on the premise that Funds Stored in a Digital Format Are Within the Definition of Monetary Instruments. Additional legal onslaughts on the crypto moat include:

Know your customer.
Who is the real person transacting?
Anti-Money Laundering.
Crypto is perfect to wash, rinse & spin dry.
The Petya ransomware attackers demand USD 300 in BTC.
To be free of the Wanna Cry worm you have to cough up between USD 300 to USD 600 in BTC.

Jekyll Island 2.0


Will BTC be permitted to realize its true potential?


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thanks for sharing this article it's helpful considering rumors about bitcoin nowadays !!

You're welcome, @simolab
Bill Gates is bullish on bitocoin.

lOl he really is !!

Excellent post

Thank you, bursatilonline
The blockchain is changing money.

That's a sad story, @enginewitty.
Hope that you recover your lost time & effort.
Upvoted your post.

Thank you, me too. 🏞

I'm new here, I just followed and up voted you, Please follow me back, Thanks! https://www.facebook.com/kutch.wella

Welcome to Steemit.
Followed you, @superjc
Bitcoin is transforming our economy.