Bitcoin Forum

US Fincen effectively shuts down Casascius physical coins

http://www.zerohedge.com/news/2013-12-12/producer-physical-casascius-bitcoins-being-targeted-feds

Wow, they should start banning laserprinters!
I just printed some password protected paper wallets and wrote down the value on it.

How can these coins be banned?
It's like banning beercaps because there is text written on them.

This is major news, and I think there are only few people who understand how big this is.

Fincen has no authority over any Crypto's if it dosn't involve Fiat or some form of Crime

As the President of the Crypto Currency Central Bank a Global institution I have already made this perfectly clear to Fincen.

I cannot be expected to read into every case they put their hands on, its up to the individual user to decide themselves

or with a lawyer to assert this, if this fails contact me at the Crypto Currency Central Bank for help.

Hooray,

another successful Business shut down by bureaucrats that don't even understand what they are dealing with simply because it hasn't purchased their licences that offer nothing but the protection from being shut down.

Mafia anyone?

Also "possibly" because the business owner dosn't know their own rights.

Casascius has outlived its original intention. It was great as a novelty when Bitcoin was at $5 and they could be used as a great marketing tool. But with their high price and the ability to break the seal without being detected as well as the counterfeiting that was starting to happen they were beyond their usefulness as anything other than a trinket.

Though if he wishes to continue he can always leave such a business unfriendly country and run his business somewhere else.

That's about right. As the maker says of the 1 BTC coin, "Perfect as a small gift to introduce someone to Bitcoin." At $5, nobody was likely to bother to crack the security. At $1000...