The Future of Bitcoin and Our Big Brother
By Dante Vitoria August 4, 2016
Phil Collins says: “I can feel it coming in the air tonight…”
Well, Phil, I can and do. What is it?
It is BITCOIN, or more accurately, the registration of Bitcoin and its users.
The European Commission is moving to do this, in response to the terror attacks recently in Europe. On the surface, it makes sense, right? Well, yes and no.
Do you really want the world that BITCOIN was created to finance terrorism? I doubt that, and I am sure you do too.
However, the door is open for the “governments” around the “free world” to regulate and control users of BITCOIN. Governments HATE BITCOIN and have hated it since its inception.
If used wisely, BITCOIN can afford the user an advantage in currency fluctuation and even CREATE their own…..like Goldman Sachs does…OH, I said “IT ” out loud !!!!
Governments do not like or want a “decentralized” currency, do they Mr. Corzine, former NJ Governor? They want their currency to be controlled by THEM…and the “large spreads” to be enjoyed by their friends, families and those who contribute to their election and re-election campaigns.
There are now laws that allow police or law enforcement agencies to literally seize and confiscate money of almost anyone, under “probable cause” laws. Not with BITCOIN!!
BITCOIN is a “decentralized” currency, and can not be traced, tracked and most importantly (to the chagrin of governments) CONTROL.
Simple, the more people use BITCOIN, the less control government has over it. NOT GOOD for government.
History shows that governments ESPECIALLY in difficult financial times invariably attempted to control its currency. Often putting restrictions on banks and financial institutions and hindering its citizens from accessing their money.
This is happening in Europe as I am writing. Many European banks have strict restrictions on the amount an account holder may withdraw from their account.
Not to mention, the not so “behind the scenes” attempts to ban hard currency (CASH) altogether!
BITCOIN users are immune to such restrictions, and this fact has the governments in a word…”petrified”.
I, for one think government leaders with any type of business acumen OR common sense (OH come on now, what am I THINKING?), would welcome BITCOIN.
By welcoming BITCOIN, and trying to integrate their systems and concepts into their system, it would give that government a huge advantage in the highly competitive advantage in the world’s markets…BUT…Common sense, right?
I guess now would be my chance to scream:
“TRUMP for President ” RIGHT?
Governments think the opposite, rather than try to be creative and work with and FOR the people, they tighten up control, hold on with BOTH hands and prevent its citizens from accessing their money.
The government goes into “desperation mode” and puts MORE restrictions in place.
EXACTLY what they should NOT DO!
They have the perfect excuse now…the terror attacks (see The Patriot Act in the U.S.)
The Lawmakers NOW have their opportunity to assume MORE CONTROL. And they will…PROMISE!
So rather than add BITCOIN, they will TRY to reject it. When that does not work, they will attempt to block its use by attempting to set up a Database of users and track the “coin” itself…
Hopefully these attempts will FAIL…
Dante Vitoria is the Founder and CEO of The Vitoria Group in New York City.