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> The sort of emotional hyperbole on here about "cryptocurrencies need to be banned by the loving, paternal, incorruptible government to save the world from ourselves" is not just getting old, its absurd.

Why is it "getting old"? It's a fair concern that something so volatile should be examined critically and relentlessly. People don't just "get a stiff drink and accept they'll lose money" if it goes down---they jump out of windows.

I'm hesitant to jump in cryptocurrency discussions because 1) I know too little about them, even at a technical level and 2) they're consistently filled with "emotional hyperbole" (that we agree on) from both ends.

I think governments/regulators should have some say the same way you'd want them to regulate any financial instrument and punish Ponzi schemers and pump-and-dumpers.

I'd like to think about the motives of both sides from being so passionate. For naysayers, I imagine it's a bit of sour grapes. For yaysayers, it's a bit more obvious---once the hype dies, they'll stop making money.

> It's a fair concern that something so volatile should be examined critically and relentlessly.

I agree - but backed with concerns based on legitimate understanding not "price is going up quickly, must be a scam".

> I think governments/regulators should have some say the same way you'd want them to regulate any financial instrument and punish Ponzi schemers and pump-and-dumpers.

Because they did such a great job in 2008? When are they planning to punish the architects of the financial crisis? Who's going after the banks when they launder money for mexican cartels and ISIS? You really think these people are trying to protect the public?

> I'd like to think about the motives of both sides from being so passionate.

I can't speak for anyone else but I come to these threads hoping to find sensible insight and technical analysis not "THIS IS A BUBBLE! BAN IT!"

> For yaysayers, it's a bit more obvious---once the hype dies, they'll stop making money.

There may well be a huge correction but the overall market is anti-fragile and here to stay.

An article that sums up my thoughts: https://www.callmegwei.com/2017/11/24/crypto-price-isnt-an-e...

> I agree - but backed with concerns based on legitimate understanding not "price is going up quickly, must be a scam".

Something that goes up and down so quickly and so frequently does warrant concern. Nobody has that understanding at the moment and it needs investigating.

> Because they did such a great job in 2008?

Maybe not the American government, but IIRC, Iceland is punishing the bankers (jail!) and the Canadian government has been praised for having kept a steady ship during the crisis through their economic policies. Governments can work.

Your realize that pointing yo the tiny nation of Iceland as the only one who actually put people in jail just sounds like sarcasm

> Something that goes up and down so quickly and so frequently does warrant concern.

Why is "going up and down so quickly" inherently bad? There's no moral or legal standard on volatility. It's just a metric, everyone is aware of it, and everyone should act accordingly.

it is not about morality. volatility is bad for any currency. it's simple truth.

Despite mass perceptions and previous assertions long in the past by its creator, bitcoin is not a currency, nor are most people attempting to use it as one. Neither is it digital gold, or an asset management system, or any other easy label. These terms were and are used as analogies to help people grasp blockchain technology, but it is a new and altogether different beast from previous monetary instruments, and not subject to the same constraints.

You probably don't live in Zimbawe, Venezuela or trying to get money out of China or another country for that matter. If you want to take over 10 grand out of the country you have to declare it or risk having it siezed.

I don't, you are right. But then why would I buy BTC? I don't need it if I live in the US. If it is so amazingly valuable to people in these countries, then why are we buying it and hoarding it instead of giving it to the people in need?

Because it's the current get-rich-quick scheme and human nature is rather selfish than altruistic? Because it's been a good tools to store value and move it over borders?

> "cryptocurrencies need to be banned by the loving, paternal, incorruptible government to save the world from ourselves"

If you're going to summarize the other side's position, do so in a way that they would agree with.

Well there are people on here that are saying literally: - cryptocurrencies should be banned - government regulation is the solution (with the implication that government is extremely concerned about the well-being of the populace in general, and investors/speculators specifically) - the people investing don't know what they are doing and need to be protected from potential losses

If there's something I've left out from this particular argument please let me know.

I believe Venezuela, Zimbabwe, South Sudan, Argentina and others greatly appreciate Bitcoin as a store of value due to their hyperinflation travails. These locations are the exact places where a complete loss trust exists toward government and the financial institutions therein.