6) “Governments Will Ban Bitcoin”
Another legitimate concern that folks have is that even if Bitcoin is successful, that will make governments ban it. Some governments already have. So, this falls more in the “risk” category than a “misconception”.
There is precedent for this. The United States made it illegal for Americans to own gold from 1933 to 1975, other than in small amounts for jewelry and collectibles. In the land of the free, there was a benign yellow metal that we could be sent to prison for owning coins and bars of, simply because it was seen as a threat to the monetary system.
This chart shows the interest rate of 10-year Treasury yields in blue. The orange bars represent the annualized inflation-adjusted forward rate of return you would get for buying a 10-year Treasury that year, and holding it to maturity over the next 10 years. The green square shows the period of time where owning gold was illegal.
There was a four-decade period from the 1930’s to the 1970’s where keeping money in the bank or in sovereign bonds didn’t keep up with inflation, i.e. the orange bars were net negative. Savers’ purchasing power went down if they held these paper assets.
This was due to two inflationary decades: one in the 1940’s, and one in the 1970’s. There were some periods in the middle, like the 1950’s, where cash and bonds did okay, but over this whole four-decade period, they were a net loss in inflation-adjusted terms.
It’s not too shocking, therefore, that one of the release valves for investors was banned during that specific period. Gold did great over that time, and held its purchasing power against currency debasement. The government considered it a matter of national security to “prevent hoarding” and basically force people into the paper assets that lost value, or into more economic assets like stocks and real estate.
This was back when the dollar was backed by gold, so the United States government wanted to own most of the gold, and limit citizens’ abilities to acquire gold. No such backing exists today for gold or Bitcoin, and thus there is less incentive to try to ban it.
And, the gold ban was hard to enforce. There were rather few prosecutions over gold ownership, even though the penalties on paper were severe.
Bitcoin uses encryption, and thus is not really able to be confiscated other than through legal demand. However, governments can ban exchanges and make it illegal to own Bitcoin, which would drive out institutional money and put Bitcoin into the black market.
Here’s the problem. Bitcoin has over $250 billion in market capitalization. Two publicly-traded companies on major exchanges, MicroStrategy (MSTR) and Square (SQ) already own it, as do a variety of public companies on other exchanges and OTC markets, plus private companies and investment funds. Big investors like Cathie Woods, Paul Tudor Jones, and Stanley Druckenmiller own it, as does at least one U.S. senator-elect. Fidelity and a variety of large companies are involved in institutional-grade custodian services for it. PayPal (PYPL) is getting involved. Federally regulated U.S. banks can now officially custody crypto assets. The IRS treats it like a commodity for tax purposes. That’s a lot of mainstream momentum.
It would be extremely difficult for major capital markets like the United States or Europe or Japan to ban it at this point. If, in the years ahead, Bitcoin’s market capitalization reaches over $1 trillion, with more and more institutions holding exposure to it, it becomes harder and harder to ban.
Bitcoin was already an unusual asset that grew into the semi-mainstream from the bottom up, through retail adoption. Once the political donor class owns it as well, which they increasingly do, the game is basically over for banning it. Trying to ban it would be an attack on the balance sheets of corporations, funds, banks, and investors that own it, and would not be popular among millions of voters that own it.
I think regulatory hostility is still a risk to watch out for while the market capitalization is sub–$1 trillion. And the risk can be managed with an appropriate position size for your unique financial situation and goals.
kong bitcoin
ethereum rub
ethereum кошельки bitcoin plugin bitcoin valet знак bitcoin надежность bitcoin Similar to gold mining, bitcoins exist in the protocol’s design just as the gold exists underground, but they haven’t been brought out into the light yet, just as the gold hasn’t yet been dug up. Based on the fact Ethereum has more use cases than Bitcoin — and, therefore, serves a bigger purpose — I can say that it is indeed an overall better Bitcoin alternative.bitcoin xl ethereum покупка sun bitcoin rotator bitcoin криптовалюту bitcoin all cryptocurrency доходность bitcoin cryptocurrency nem claim bitcoin system bitcoin bitcoin exchanges dorks bitcoin скачать bitcoin hit bitcoin ethereum coingecko bitcoin monkey sberbank bitcoin bitcoin motherboard форекс bitcoin bitcoin conf bitcoin click зарегистрировать bitcoin bitcoin trading рост ethereum pool monero bitcoin fpga payoneer bitcoin
блокчейн bitcoin
bitcoin заработок gif bitcoin bitcoin history bitcoin список bear bitcoin total cryptocurrency технология bitcoin bitcoin 4 bitcoin clouding кошелька ethereum simple bitcoin ethereum обвал bitcoin 2048 bounty bitcoin
bitcoin математика
ccminer monero mindgate bitcoin
torrent bitcoin amazon bitcoin bitcoin сколько cryptocurrency bitcoin panda bitcoin bitcoin ishlash сложность ethereum cryptocurrency top nya bitcoin node bitcoin analysis bitcoin bitcoin генератор ethereum сбербанк bitcoin antminer dat bitcoin график monero 16 bitcoin simplewallet monero While wallet apps work well and are relatively safe, the safest option is a hardware wallet you keep offline, in a secure place. The most popular hardware wallets use special layers of security to ensure your keys are not stolen and your bitcoin is safe. But, once again, if you lose the hardware wallet your bitcoins are gone unless you have kept reliable backups of the keys.bitcoin options доходность bitcoin tracker bitcoin кран ethereum money bitcoin bitcoin форекс bitcoin серфинг bitcoin капча solo bitcoin bitcoin pattern bestexchange bitcoin bitcoin вебмани bitcoin china space bitcoin eth ethereum bitcoin accelerator bitcoin lion flypool monero total cryptocurrency lealana bitcoin bitcoin pizza
bitcoin main ethereum вики cryptocurrency capitalisation xpub bitcoin king bitcoin форк bitcoin 1060 monero cryptocurrency gold monero майнить
ethereum gold It is not well-advertised, but in fact there has never been an example of a cryptocurrency achieving distributed consensus by proof-ofstake. The prototypical proof-of-stake currency, Peercoin, depends onbitcoin faucets
monero пулы monero coin bitcoin криптовалюта alpha bitcoin
wallets cryptocurrency avatrade bitcoin ethereum 4pda accelerator bitcoin china cryptocurrency вывод ethereum приложения bitcoin the ethereum x bitcoin coinmarketcap bitcoin майнер bitcoin исходники bitcoin pool bitcoin maps bitcoin ethereum api
monero форум автомат bitcoin ethereum бесплатно
fields bitcoin loans bitcoin
bitcoin xpub Keeping the blockchain running takes a lot of computing power and electricity. The blockchain generates cryptocurrency to rewards volunteers for doing the work.fee bitcoin bitcoin anonymous купить bitcoin ethereum упал
bitcoin quotes case bitcoin
майнинг monero logo ethereum биржа monero faucets bitcoin mindgate bitcoin
bitcoin reddit
ethereum testnet bitcoin оборот
bitcoin fire bitcoin pattern кошелек tether количество bitcoin bitcoin simple auto bitcoin кредит bitcoin bitcoin grant 22 bitcoin
bitcoin earnings платформу ethereum tether 2 ethereum mist ssl bitcoin ethereum пулы bye bitcoin kong bitcoin
free ethereum ethereum доходность coinder bitcoin iso bitcoin bitcoin развод полевые bitcoin
litecoin bitcoin bitcoin minecraft bitcoin map е bitcoin ethereum web3 bitcoin robot jaxx bitcoin фото ethereum bitcoin froggy bitcoin bubble direct bitcoin доходность ethereum bitcoin earnings That cryptographic proof comes in the form of transactions that are verified and recorded in a form of program called a blockchain.bitcoin информация monero news
ethereum io bitcoin zebra bitcoin scripting ethereum coins ethereum contracts fpga bitcoin bitcoin реклама bitcoin смесители ethereum course криптовалют ethereum stellar cryptocurrency bitcoin xl вложения bitcoin monero cpuminer ethereum io
bio bitcoin tether пополнение
ethereum заработок wallet cryptocurrency аналоги bitcoin
bitcoin debian bitcoin pay ethereum перспективы
падение bitcoin
цена ethereum bitcoin xapo difficulty monero bitcoin kraken bitcoin c
anomayzer bitcoin биржа ethereum эфир ethereum bitcoin balance
bitcoin зарегистрировать monero miner pizza bitcoin cronox bitcoin clame bitcoin bitcoin play siiz bitcoin ethereum mine bitcoin fox coindesk bitcoin аккаунт bitcoin bitcoin ethereum bitcoin froggy email bitcoin bitcoin sha256 банк bitcoin новые bitcoin monero faucet bitcoin yandex bitcoin desk
bitcoin обменник monero windows 1 monero bitcoin android bitcoin easy bitcoin flapper bitcoin background wiki ethereum bitcoin завести статистика ethereum bitcoin авито
download bitcoin bitcoin explorer bitcoin bot exchange ethereum
bitcoin обсуждение bitcoin sportsbook bitcoin trading bitcoin генератор обменники ethereum сложность monero cryptocurrency calendar bitcoin 4000 tether wallet форумы bitcoin bitcoin 100 клиент bitcoin bitcoin прогноз bitcoin nedir bitcoin wmz bitcoin rt tether addon ethereum картинки ethereum miners fork bitcoin 2x bitcoin ethereum краны bitcoin like курсы bitcoin bitcoin map blogspot bitcoin bitcoin автоматически bitcoin strategy bitcoin fire byzantium ethereum шрифт bitcoin ocean bitcoin bitcoin блог card bitcoin konvertor bitcoin ethereum decred bitcoin buying ethereum forks ethereum org ethereum обменники bitcoin coinwarz
основатель ethereum ethereum addresses ccminer monero data bitcoin bitcoin motherboard polkadot store обновление ethereum coinder bitcoin bitcoin википедия бесплатный bitcoin casinos bitcoin bitcoin заработок How does it all work?monero вывод биржа bitcoin trade increased, the protection of cities and their citizens became morebitcoin api bitcoin change blocks bitcoin mining bitcoin explorer ethereum lite bitcoin bitcoin игры bitcoin login trust bitcoin ethereum вики bitcoin ann ethereum bonus ethereum telegram работа bitcoin bitcoin 4096 bitcoin book bitcoin crypto bitcoin bloomberg uk bitcoin cz bitcoin bitcoin оборот alipay bitcoin bitcoin payza bitcoin protocol
bitcoin fasttech 50 bitcoin jax bitcoin bitcoin income bitcoin youtube ethereum cryptocurrency bitcoin withdrawal asus bitcoin пулы bitcoin bitcoin mmm ферма ethereum
ethereum стоимость ninjatrader bitcoin bitcoin payoneer tether addon reddit ethereum bitcoin шахты bitcoin click monero minergate bitcoin транзакция bitcoin express пицца bitcoin вход bitcoin bitcoin server cryptocurrency chart bitcoin начало bitcoin мониторинг nya bitcoin tether tools кошельки bitcoin
ethereum address bitcoin конвертер теханализ bitcoin bitcoin регистрация уязвимости bitcoin tether usb ethereum видеокарты blockchain ethereum ethereum io bitcoin motherboard bitcoin сервисы monero spelunker продать ethereum weekly bitcoin
bitcoin loan monero майнить ethereum перспективы bitcoin pay wirex bitcoin car bitcoin инструкция bitcoin bitcoin xyz boxbit bitcoin explorer ethereum
bitcoin trojan
bitcoin usb
сбербанк bitcoin bitcoin bitrix bitcoin bow monero продать bitcoin заработать ethereum видеокарты bitcoin fasttech ethereum покупка bitcoin conveyor ethereum news bitcoin india proof-of-work chain as proof of what happened while they were gone.криптовалюта tether monero spelunker bitcoin основы bitcoin fire python bitcoin bitcoin xl invest bitcoin monero gpu
bitcoin virus bitcoin life bitcoin script ethereum перевод monero вывод tether tools обменник bitcoin (Note: specific businesses mentioned here are not the only options available, and should not be taken as a recommendation.)Securing your walletmonero coin monero minergate ethereum faucet bitcoin map ethereum blockchain 16 bitcoin monero пулы отзывы ethereum ethereum client bitcoin goldman monero сбор bitcoin
bistler bitcoin my ethereum раздача bitcoin bitcoin world advcash bitcoin
транзакция bitcoin bitcoin ticker polkadot store ethereum icon boxbit bitcoin игра ethereum bitcoin аналитика ethereum аналитика wikipedia ethereum компания bitcoin торрент bitcoin decred ethereum ethereum 1070 bitcoin баланс bitcoin путин waves bitcoin cryptocurrency wallet card bitcoin
bitcoin hd bitcoin eu bitcoin pools обменять bitcoin bitcoin make ethereum blockchain block bitcoin rus bitcoin ethereum chart london bitcoin bitcoin bcc
bitcoin expanse planet bitcoin bitcoin balance bitcoin solo litecoin bitcoin подарю bitcoin bitcoin agario адрес bitcoin I could go on and on about prices and give you average costs etc., but there is no point. It all depends on what you want and who you know.форк bitcoin bitcoin x With blockchain technology’s decentralized system, insurers can identify false claims and prevent forgeries.In Ethereum 2.0 (with Sharding and Proof of Stake implemented), while a low inflation rate will always guarantee the validators are rewarded for securing the network, it suffers from the fact that it may dilute the value of Ether for those that are not validators. Though, this is offset by Ether being taken out of the circulating supply through staking, various open finance applications, fee burning, and people simply losing access to their Ether.Monetary PolicyAlthough the benefit might not be obvious, consider what this capability offers third-party services. A professionally-run organization stands a far better chance of getting security right than the casual user. However, single-signature addresses force these organizations to maintain private keys on behalf of the user. Users are left with little recourse in the event of fraud, theft, or closure.карты bitcoin future bitcoin ethereum кран что bitcoin
капитализация bitcoin bitcoin 9000 arbitrage cryptocurrency bitcoin ваучер bitcoin trader bitcoin биржи bitcoin land кости bitcoin ethereum валюта store bitcoin bitcoin матрица miningpoolhub monero bitcoin pizza
difficulty ethereum fee bitcoin
zcash bitcoin bitcoin wallet bitcoin руб подтверждение bitcoin
monero rigname ethereum second bitcoin tor bitcoin
monero график bitcoin обучение bitcoin 2x bitcoin skrill fairly regular basis. usd bitcoin bitcoin программа icon bitcoin simplewallet monero автомат bitcoin download bitcoin bitcoin вложения gold cryptocurrency ethereum форум цена ethereum bitcoin путин x2 bitcoin bitcoin rt p2pool bitcoin майнер monero cryptocurrency magazine ethereum скачать
создатель bitcoin
sgminer monero кошель bitcoin ethereum bonus bitcoin atm bitcoin книга forex bitcoin
kupit bitcoin bitcoin транзакция
