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Does Ray Dalio know something we don’t? “They have ways of killing it”

If you define “kill” as completely destroy the Bitcoin network and seize it from functioning and cause Bitcoin to go to 0…

How is this possible? Does Ray know something we don’t?

Bitcoin can always be used peer-to-peer since it is just data being sent through the internet… The government couldn’t stop torrents, how would they stop Bitcoin?

[https://www.cnbc.com/2021/09/15/ray-dalio-says-if-bitcoin-is-really-successful-regulators-will-kill-it.html](https://www.cnbc.com/2021/09/15/ray-dalio-says-if-bitcoin-is-really-successful-regulators-will-kill-it.html)

EDIT: Hmmm maybe what he means is he thinks the government will destroy all communication methods, all computers, all satellites, all phones, all means of production, and will hire men with guns to ensure we are trapped in our homes at all times and never meet up with another human or partake in any form of communication



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16 Comments

  1. their only tool is killing. without it, they wouldn’t exist. bitcoin doesn’t surrender to bullets. but people do. the good news is we outnumber them by a long shot. no pun intended.

    what dalio is suggesting is that if corporations start all going the way of microstrategy, then because corporations are a socialist institution, and completely controlled by the state, regulators could simply say “sorry, can’t own bitcoin”, and that could create a massive price pullback. but of course ray is conflating that with killing bitcoin because it would kill its use in corporations (and ray is born of corporate mentality). the result would be that individuals would start buying bitcoin hand over fist because govt can’t stop that with a mere dictate. they would have to start murdering. and bitcoin has already come too far for them to get away with that. because again, we outnumber them greatly. the best they can do is slow adoption. that’s not “killing bitcoin” unless you’re a high time preference fucktard who can’t see beyond next quarter’s earnings report.

  2. It’s funny that people thought that the mainstream traditional finance elites would want bitcoin killed. But it turns out that instead of that, they’re jumping on board. Why? Because they can make money with it. Why shut down a new potential profit stream?

  3. People forget that governments can make anything they want illegal. While that won’t kill Bitcoin, it will significantly change its use case. But why would the government do that? Stocks and housing prices are flying as well. Are they gonna outlaw all investing bc it undermines the value of fiat? Doubtful.

  4. Just making exchanges and other on- and offramps to fiat illegal will probably do it. Banks will block transactions with them, and bc people still depend on the fiat value of bitcoin that will probably kill it, or at least bring its value back to below a hundred bucks..

  5. They have the power to force the industry out of the country therefore insuring that America’s standing as the leader of the free world will diminish significantly. If they force innovation out of the country they are fucked, if they allow Bitcoin to become the world reserve currency they are fucked! If they allow innovation to stay in the Country they are less fucked.

  6. Something like a global treaty – e.g. a UN Single Convention on Cryptocurrencies – that forbids businesses from using cryptos would effectively kill Bitcoin. Sure, it could continue to be used in the underground economy but its value would be single digits. That’s why lobbying efforts are so important.

  7. The weak point would be pools.

    The extremity of the difficulty makes solo mining unprofitable. Profit is the driving force behind miner participation, because they can add their small rig that otherwise would have no probable chance of yielding anything to a large group of miners and take a tiny share of all rewards. Remove the motivation, disrupt participation, cripple the viability.

    Government has always exerted it’s force by focusing at the top. Consider payroll taxes. Sure, each individual is responsible for paying their own taxes, but if the IRS trusted you to self remit your taxes they’d have gone broke a long time ago. Thus, they limit their focus on business owners. Your employer takes the government’s cut and remits it to them before you ever get your cut.

    Thus, if the government wanted to end any PoW crypto, they’d target the pools.

What do you think?

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