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Title: 2013-11-18 Bloomberg: Are Bitcoins the Criminal's Best Friend? Post by: bitcool on November 18, 2013, 06:53:46 PM http://www.bloomberg.com/news/2013-11-18/are-bitcoins-the-criminal-s-best-friend-.html (http://www.bloomberg.com/news/2013-11-18/are-bitcoins-the-criminal-s-best-friend-.html) Quote The U.S. government recently imposed money laundering controls on legitimate businesses that use bitcoins, and a recent study suggests that it’s pretty hard to use them to launder money on a mass scale, though the FBI has argued otherwise. Bitcoin may have a bright future in the above-ground world, too. In letters to the Senate committee holding the hearing today, the Department of Justice and the Securities and Exchange Commission said the virtual currency is a legitimate financial instrument, which like any other online-payment system, offers benefits and presents risks. Speculators, meanwhile, are voting with their wallets. The currency has soared in value since the closing of the "Silk Road" marketplace drew wide attention to it. And given the speed with which bitcoins entered illicit commerce, it looks likely that drug traffickers and other international criminals will ditch old-fashioned cash for digital currencies. This shouldn't come as a surprise. When it comes to moving ill-gotten gains, hitting a few keys on a laptop beats shipping bogus toaster stuffed with cash. Title: Re: 2013-11-18 Bloomberg: Are Bitcoins the Criminal's Best Friend? Post by: EzCheese on November 18, 2013, 07:14:24 PM US is upset because it has yet to regulate and/or control the bitcoin network, even more so that it's breached the $500 US fiat mark. The real meaning of regulation is the ability for uncle Sam to skim off the top and tax it to death.
Physical dollars have springs attached, though they are only apparent in higher amounts. Nothing pissed me off more than the bank teller asking me why I'm moving 10k+ dollars out of my bank account. (home down payment) He eventually accept me saying, "Personal use" but it did open up my eyes on who is watching and how closely. Title: Re: 2013-11-18 Bloomberg: Are Bitcoins the Criminal's Best Friend? Post by: LiteCoinGuy on November 18, 2013, 08:16:11 PM http://www.businessinsider.com/ben-bernanke-on-bitcoin-2013-11
Title: Re: 2013-11-18 Bloomberg: Are Bitcoins the Criminal's Best Friend? Post by: Carlton Banks on November 18, 2013, 08:41:29 PM Ah, it makes me chuckle. The money power and financial establishment are shitting their shorts.
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