Bitcoin the worlds leading cryptocurrency, is going to its peak days. The price of Bitcoin has achieved more then $7000m, this year. Bitcoin has caught many peoples attention to engage on it.
GOVERNMENT RESPONSE TO BITCOIN
Wow the government believes that bitcoin is actually an alien conspiracy, not a government one. Each Bitcoin is infected with a virulent e-virus that will act together with all other Bitcoins in existence when the signal is given by Satoshi from the mothership. They will takeover all computing devices, and shortly thereafter the world. Which means that the Government is threatened by Bitcoin and they are planing to destroy it.
If the government wanted to shut down bitcoin they would've already done it. If they wait until more businesses adopt it as a payment processor they will receive a lot of backlash from the bitcoin community if they were to take it down.If one of these coins are REALLY successful, it will be a threat to government power and they will try to suppress it. It will also threaten the status of USD as the de facto international currency. I just hope they can't take it down or by the time they try, too many of their citizens have a stake in the coin to just let them shoot it down. By really successful, I mean a lot of people worldwide actually use it to trade goods and services, not just a small fraction of the world population hog it hoping it's value will increase. You will still need to pay taxes to the government and they will still annoy you about it. For a government, it is just a matter of thinking how to do this.
"be fearful when others are greedy and greedy when others are fearful" - Warren Buffett
Bitcoin might go down in the short run because of China, but in the long term Bitcoin and other cryptocurrencies will stable and go up again. They question you need to ask yourself is - Do you believe that Bitcoin has the potential to create an economic revolution, by taking the power from the governments/banks and putting it back in the hands of the people? In my opinion this is bigger than one nation and China is just panicking a little bit. They will understand eventually that it’s better to be a part of the game of the new economy than outside of it. This is why they are not banning the mining. Soon they will let the exchanges reopen.
This is my view, but you need to remember that it’s not going to be an easy ride. Bitcoin will take-over the world soon, its just a might of time.
By Mc-khenzi
