What if US bans privacy coins? Not fud

If the United States decides to ban all privacy coins, what would it mean to you and what will you do? (Poll closes in one week and results will be released then to get honest uninfluenced answers)

  • Bullish (Buy more)
  • Bearish (Sell all)
  • Uncertain (Hodl)
  • Uncertain (Sell some)
  • Uncertain ( Buy more)

0 voters

4 Likes

Fortunately US is only a part of the entire world…

However if we use DEXes this won’t be a problem.

5 Likes

Buy additional nodes and not care, because of Incognito all my coins are private.

3 Likes

I agree completely. Unfortunately when the US leads the rest of the world follows. I for one feel it would only strengthen the fundamentals of the project but I wanted to make this poll to gauge the community’s sentiment around this possibility. I mean I could only hope that the people who are here at this point have the same mentality and outlook as you and I but I also need to know what others here would do so that I can plan what I will do. If the rest of the community will dump then I want to be able to capitalize on that opportunity and vise versa.

Plus it’s just a valuable discussion to be had by the community so that we can understand and have stronger hands and encourage the rest. Because I am all but certain the day will come. Just a matter of time. And I’m not so sure everyone else has even considered or entertained the possibility.

3 Likes

I Trust privacy protocols more than US (or other countries that follow US without thinking). You can have many layers of privacy: the good thing about incognito is that you can shield the non-privacy coins and this can not be stopped. At the end of the day if you want to interact with the “real” (FIAT) world you will (almost) always pass through centralized system (with KYC).

2 Likes

I’d like to mention that at one point the US banned gold in 1933.
The price per ounce then was $26.33.
The next year it went to $34.69.

But there were deff more economics at play when that happened. I believe Roosevelt actually changed the statutory price legally.

All restrictions and bans from Authorities lead to crypto and especially Incognito pump, IMO.
If there where no restrictions and limitations - crypto may become more useless.

1 Like

Can you clarify the question? Would it be bullish or bearish for Incognito network, PRV token, BTC, defi/earning yield on crypto, crypto market for a whole?

I think the answer to each is different.

I don’t think so, because some popular coin like monero also privacy coins but still not banned, so if that day happen i will buy more

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I have mined for 10 years now, BTC and then Monero! Never used an exchange that wanted my DNA, F*** them!
Sure it will scare away a lot of normies, but they will still have a bank crypto to enjoy!
Lets face it, in a lot of countries, counterfeiting cash was considered worse than murder! These Aholes look at unregulated crypto as the devils work!
A bit of Gold might be of use, just incase!

Cheers

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Remember when it happened in China. Bitcoin crashed then came back.

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The good old US of A told me I couldn’t participate in the EOSio ICO and I still found a way…I would like likely still hodl…I like to live a little on the wild side lol

1 Like

Eventually people will question why we think government has any authority over what we use for currency. Fewer countries nowadays still believe the government should control what religion a person has, the same will happen with currency. Why are we allowing corrupt politicians tell us what we can exchange with one another as consensual adults?
Maybe not this year, or this decade, but eventually even regular people will awake to the con game. Let government ban anything they want, until people are forced to realize they only have the power we relinquish.

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Absolutely right Nsmith, but the government has the guns and wants it’s share!
Just like the Mafia. If the alternatives get too big, there is no doubt they will come for us! :frowning_face:

You can move and renounce your citizenship just like Roger Ver. On a smaller scale there are millions of Americans that have moved abroad. They can renounce if/when the time is necessary. People move across nations all the time but it’s less common culturally for Americans I think, or because America is such a large nation already.

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I read an article yesterday that the IRS setup a trap for next years taxes for those trying to avoid crypto tax regulations…and it doesnt suprise me one bit.

Would you mind sharing this article?

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Here is the article: https://www.wsj.com/articles/the-irs-sets-a-trap-for-cryptocurrency-tax-cheats-11601026202

Here is discussion: https://www.reddit.com/r/Bitcoin/comments/izp3bx/the_irs_sets_a_trap_for_cryptocurrency_tax_cheats/

4 Likes

Damn paywalls :rage:

Here use this: https://www.google.com/amp/s/www.wsj.com/amp/articles/the-irs-sets-a-trap-for-cryptocurrency-tax-cheats-11601026202
Bypassed paywall for me. (Edit: For some reason it doesn’t seem to work anymore, at least for me)

1 Like