ilconsiglliere wrote:
Govmt has realized that its a threat to the $ and the party is over.
Actually, I think the global elitists DON'T want to end the party just yet.
Right now, they are making money from falling cryptocurrency prices via the new futures contracts. While it's a pretty good bet that crypto-currencies will hit bottom after a crash of 90% to 99%, it won't be a 100% crash.
But after crypto-currency prices hit bottom, the elitists will want to make money from vastly greater price increases, which will make crypto-currencies more expensive than ever. That's why the current effort to crush crypto-currencies will stop short total annihilation.
Once cryptocurrency prices are bubbly high (again), government central banks will declare the crypto-currencies to be "safe" and will once again allow the general public to buy. Otherwise, there will be nobody for the global elitists to sell their BitCoins to at the top.
As long as crypto-currencies are used only for speculation, they are NOT a threat to government fiat currencies. They will become a threat only when they display enough price stability to function as money.
Remember, the elitists missed out on the first three boom and bust cycles. Then they missed out on the boom part of the fourth cycle. Finally, they're now making money on the bust part of the fourth cycle, and they want to make money on the future FIFTH boom and bust cycle.
I think there's a good chance that governments will outlaw all non-government crypto-currencies after the 5th cycle busts, but NOT before that.