Bitcoin Forum

What are your thoughts on the Liberty Reserve take-down that occurred yesterday? Thankfully, Bitcoin is decentralized so it makes it incredibly difficult for a government to shut-down the network. However, it appears that there is a renewed interest in alternative currencies by regulators under the guise of "only terrorists would use alternative currencies and the networks fuel their operations - therefore they pose a national security threat." What do you think? 

Aquaticas

Something new will always arise to take somethings place.

Great demonstration for LR users as to the value of bitcoin.  One of the things LR retailers liked about LR was no chargebacks if I recall correctly.  Bitcoin offers this as well of course on top of innumerable other features such as the ability to move virtually unlimited amounts of wealth without even having to register with anyone.

Although it seemed that LR's infrastructure was more developed for the "average" user and I think Bitcoin is still developing a friendly infrastructure.

I expect that some criminals using LR (it's safe to assume there were at least a few, right?) will resort to other methods of moving money that impose more risk to themselves.  It seems to me that statistically, they should get caught sooner.

IMO if even one of them is involved in human trafficking, the whole bust is worth it.  I wouldn't be surprised to see more people getting caught laundering money now that the cover of LR is gone.

I think this will be good for Bitcoin, no doubt about it.

Sure, it's scary to see that the government is going out of their way to shut down these 'rouge' payment systems, but its safe to say Bitcoin is most definitely a completely different kettle of fish.

This is a shame. Liberty reserve was a pretty common way to fund exchanges. Can't help but think their will be less money flowing into bitcoin now.

I lost $2000 but I could honestly care less. It sickens me to know what my transaction fees were funding.