Governments will close down bitcoin and cryptocurrencies if they get too big, warns Jamie Dimon

the problem is...how do you turn bitcoin into food, hookers and booze without the govt allowing exchanges...you cant. At the point when you can barter openly with bitcoin, it will be more illegal to have than newks....our friendly gov will see to that as China's is already in progress of.

You think entirely too highly of "your" abilities and entirely too little of the government's. The second they want to confiscate it, they will. You and other crypto currency traders are simply tools of the end TPTB wish to attain. When a tipping point is reached, you will be shut down.

You are uninformed as to how this works. I can make thousands of copies of my wallet if I want. Everybody encrypts them, nobody else is able to access them. I don't even need a thumb drive or a written piece of paper or anything to access/send/receive funds, just my key and an internet connection.

You need to do some reading before talking about subjects you know nothing of. Either read the bible or read up on cryptos, one of the two child. Jesus Christ.

You did it to yourselves. You knowingly accepted lie after lie, continued in it, fed it to your children, paid money to have it spoken to them.

I am departed from you.

We all are.

All of us hu gnow..



Gone.

Poof.

You won't hear of heaven again from this mouth or these fingers.

To those who hearing understand know you are higher now, above it. Shielded.

Don't mind them anymore, the naysayers, the doubters, fearmongers, you are right. You know you are, I know you are, God knows you are, all of HEAVEN APPLAUSES FOR YOU!

We will return to where we now depart from in a time and a time and a half's time.

Nothing new grows like as in ash.

They would shut the exchanges down and outlaw conversion into usd. Easy peasy.. How would you trade it then? Peer to peer? Theres no medium.. get caught? 5-10 mandatory.. Thats how..

Dimon called cryptocurrencies a "novelty" and said they are "worth nothing."
A company called Blockswater has filed a market abuse complaint in Sweden against Dimon, claiming he deliberately spread false and misleading information about bitcoin.

Eventually governments will close down cryptocurrencies: JPMorgan CEO
14 Hours Ago | 02:51

JPMorgan Chase Chief Executive Jamie Dimon has laid into bitcoin and digital currencies once again, warning that governments will shut them down if they grow too large.

"Right now these crypto things are kind of a novelty. People think they're kind of neat. But the bigger they get, the more governments are going to close them down," Dimon said during an interview with CNBC-TV18 in New Delhi on Friday.

Dimon was concerned that with bitcoin, ethereum and various initial coin offerings (ICOs), there are now cryptocurrencies everywhere.

"It's creating something out of nothing that to me is worth nothing," he said. "It will end badly."

Dimon warned that governments will eventually crack down on cryptocurrencies and will attempt to control it by threatening anyone who buys or sells bitcoin with imprisonment, which would force digital currencies into becoming a black market.

These are the latest comments from Dimon attacking bitcoin. Earlier this month he called the cryptocurrency a "fraud.". His comments, along with several prominent hedge fund investors, came before a sharp sell-off in bitcoin. The price for one bitcoin fell from around $4,340 to as low as $2,981.05 in the days after his comments.

During the interview on Friday, Dimon also criticized bitcoin for not being a fiat currency formed by a government and backed by a central bank.

"With central banks, (the money) says legal tender: you have to take this as payment. It's very cheap to do, it's very easy to move back and forth. JPMorgan moves $6 trillion around the world every day very efficiently, very quietly, very effectively and very cost efficient," he said.

"Creating money out of thin air without government backing is very different from money with government backing."

less then 50% fair use act.....
--------------------------

[link to www.cnbc.com (secure)]

uh, yeah there is.

iinm #bitcoin-otc was around long before mainstream exchanges.
[link to en.bitcoin.it (secure)]
[link to bitcoin-otc.com (secure)]

as for transfer.. cash-by-mail is hugely popular thanks to how the postal system works. check out localbitcoins or paxful if you don't care for IRC.

but the latter has been around since 1988, and I doubt is going away anytime soon.

bots that run IRC ecosystems, e.g. the warez scene, historically have been hosted on hacked servers... and there will be 0-day's for that even after formal code verification becomes practical... as long as .gov wants OS backdoors
[link to www.cs.rochester.edu]

the only serious threat ics is if ISPs in some country were required, by law, to mandate an OS-integrated, transparent internet ID system, apart from which they won't provide /any/ access to the internet.

Not sure how feasible that is technically, but I think governments would love it, and sheep would accept it, to say the least.
[link to www.cbsnews.com (secure)]

Bitcoin is a sort of Mandela effect - it exists only in a large number of people's minds.

The whole POINT of a cryptocurrency is that governments CANNOT shut them down.

But thanks, Jamie, for showing us that you have a dictator's mindset. We bailed your ass out. Without us, your bank would have gone bust. The ONLY way you are a "genius" banker is when somebody bails your ass out of your stupid decisions.

Thanks, Jamie.

We will see if the crypto world can do what it was designed to do, once governments start targeting it.

I don't know a single store in Finland (brick-and-mortar or online) that accepts bitcoin. It's perfectly useless.

"It's creating something out of nothing that to me is worth nothing,"

The irony is astounding...

If you haven't figured it out yet it is ALL bullshit.

So a guy created the entire system but doesn't know how to use back doors into ppls wallets? Or he sealed those doors?

Imo we are giving to much trust to an anon source, you think even if you used a 200 number password the owners of glp couldn't get into your account?

Some of them are, some aren't. Bitcoin can be traced via a blockchain tracker, but some others that are specifically designed to be private like Monero and Verge are next to impossible to track.

"If you don't know, I'm not going to tell you." Great attitude right there. Hey, everyone, you should try to be more like this poster, f*** everyone.

"It's not that I think you should be impoverished of wisdom, I think you should seek the knowledge of your own accord for knowledge's sake. Self learning makes for the strongest of individuals."


Absolutely. Which is probably why you ought to do some research into cryptocurrencies yourself before opening your mouth somewhat out of place in another thread like this.

I don't need to look at the technology of cryptocurrencies. I have a book called "The webapplication hacker's handbook".

In the first chapter of this book it goes into how computer networking works, from the hardware layer (Like the copper cable of ADSL.) to the application layer much further down the line.

Sure you can say your computer is secure and only traceable by a random IP assigned by your Internet provider. But your ISP knows who you are and has records of everything you do on their network and can track you by your hardware Machine Address Code.

Even if you spoof your MAC in your router, the person providing you with internet can log everything you do by sending a log to whatever computer their want from their router.

And I wouldn't recommend using stolen Wifi because criminals usually provide unsecured Wifi to log everything hoping to get a would-be thief's banking or passwords.

A buddy of mine used my internet for something and I have his Facebook and dating website passwords in the keylogger installed on my computer.

Even though he considers his Facebook to be sacrosanct, it's easy to break into by recovering his password by using his email. But for all his failures and there are many, I maintain his privacy by not posting to his Facebook "OMG! Hillary is one sexy taco!"

-----

The point of this long winded and rather boring post is this... Whoever controls the computer network providing you with internet, owns your internet access.

the only way you can stop crypto is to shut down the entire interwebs.. and that aint gonna ever happen