... and I thought crypto was for criminals....

[redraspberry]

I don't think the US government will be the primary player in a world based digital currency.

The 'governments' have the unlimited resources to mine the bitcoin right? Rumor has it ChYna has three nukes dedicated to that.

[t00nces2]

I don't think the US government will be the primary player in a world based digital currency.

The 'governments' have the unlimited resources to mine the bitcoin right? Rumor has it ChYna has three nukes dedicated to that.

The code for Bitcoin will only allow so much to be mined so fast. It does not matter how much computing power you throw at mining, the code only allows so much to be mined so fast. If more computational power is thrown into mining, the algorithm just makes the mining harder to do. The code says there will only ever be so much and the last coin will be mined somewhere around 2051 or so. I don't know the exact date off the top of my head.

[redraspberry]

Just for the record I look at it as if it comes from nothing then it will go to nothing.

[jjmcwill]

If the US adopts a digital currency, what does that mean for Bitcoin?
Isn't that going to be a problem? Too easy to hide money in Bitcoin as it is. In order to find hidden money, which there is a lot of, a subpoena is required. A forensic analyst then needs to seize your digital devices and get access to your emails.
This is only worth pursuing if we are looking at a whole lot of hidden money. It also depends on whether the individual pursuing can afford a lawyer to go that far into things.
It represents a very real problem for a government that wants to know how much money you actually have.

The current price of Bitcoin is very tempting, but I see many problems for it in the near future. The government is eventually going to demand change and transparency. This will destroy what so many value about Bitcoin in the first place.
Also, the digital gold myth has been thoroughly debunked at this point.

[t00nces2]

If the US adopts a digital currency, what does that mean for Bitcoin?
Isn't that going to be a problem? Too easy to hide money in Bitcoin as it is. In order to find hidden money, which there is a lot of, a subpoena is required. A forensic analyst then needs to seize your digital devices and get access to your emails.
This is only worth pursuing if we are looking at a whole lot of hidden money. It also depends on whether the individual pursuing can afford a lawyer to go that far into things.
It represents a very real problem for a government that wants to know how much money you actually have.

The current price of Bitcoin is very tempting, but I see many problems for it in the near future. The government is eventually going to demand change and transparency. This will destroy what so many value about Bitcoin in the first place.
Also, the digital gold myth has been thoroughly debunked at this point.

There is no way they can have any idea how much bitcoin you have if you know what you are doing.... Unforseen boating accidents occur.

[SilverPalm]

Just for the record I look at it as if it comes from nothing then it will go to nothing.

There are times when you & I agree completely. This is one of them.

[SilverPalm]

https://youtu.be/BoyTQWJN29w?t=361

Apparently the Canadian Government saw bitcoin use as being criminal & they were able to freeze accounts.

Was bitcoin not supposed to be a currency that was outside of government control?

[t00nces2]

They shut down the banks they can control. They cannot control commerce conducted with bitcoin (crypto) any more than they can control you trading work for eggs.