Of course bitcoin is the currency of criminals, that's why it was created in the first place, to have a safe haven for criminals. But you need to realize that being a criminal is not a bad thing, it's a good thing.
Now that's something! It's a good thing for the criminal as long as they are not caught, and a bad thing to their victims. You seem to live under the illusion that every crime has a victim, that is utterly false. In fact, most crimes are completely victimless. |
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lol imagine drug lords standing around waiting 40 minutes for 6 confirmations before finishing their exchanges.
I think services built on top of bitcoin will account for most purchases eventually. Those services will provide more anonymity and will be instant. I would imagine drug lords using these services as well, and use bitcoin for long term storage. |
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But we all know how much was bitcoin when it was used only for illegal purposes and not for speculation like today. I would like to hear your opinion on what will happen with bitcoin if it will be illegal to run a bitcoin exchange? Of course TOR-based exchanges could appear, but big money would be gone.
First and foremost, a global ban is unlikely. The most likely scenario is that there would be countries where it would still be legal to run exchanges. And "big money" knows how "offshore banking" works - especially is this "big money" comes from dubious sources. I bet you know that there is a lot of "big money" (or better, HUGE money) in counterfeit pharmaceutical drugs, prostitution, illegal weapons traffic, drugs, etc. Secondly, Dread Pirate Roberts (SR operator) is a visionary. But new generations of "criminals" will join the pack as soon as they understand BTC. If BTC is banned, they would be even more attracted by it. "Criminal activity" (or black market) is a 1,829 billion per year market. If only a small % of that economic activity goes to BTC the price will skyrocket, and as I said earlier: everything illegal comes with a premium. Bitcoin has the potential to be HUGE regardless of the official position of Governements. I always thought that bright future of Bitcoin that we look forward to is not being a currency used by criminal big money, and when somebody mentions big money they mean investors, not human trafficing and weapons. But yeah, I'm fine with that as long as price goes up. Of course bitcoin is the currency of criminals, that's why it was created in the first place, to have a safe haven for criminals. But you need to realize that being a criminal is not a bad thing, it's a good thing. |
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Bullish! yea another Direct funding source for bitcoin likely to be cut off. No need to ban bitcoin,only bank wire remains. What happens if the banks decide Bitcoin is against AML laws and stops business with exchanges, we'l see how can price be sustained then. Ultimately, we're going to be prepared to go this route anyways. I don't see how this anonymous taxhaven / money laundering paradise can continue to operate uninterrupted like it is today. We will need p2p exchanges to take over where there is no big, centralized point of failure. The end goal would be mass adoption to the scale where in and out exchange is no longer necessary because everyone accepts bitcoin. Anyhow, I think there will continue to be exchanges in obscure countries, for a long time to come. |
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Another thing, I really think we should ditch the current centralized domain system. It's fine to have non-US ccTLD, but it won't last long. We're going to need full decentralization, more and more countries are jumping on the censorship wagon. It would be great also to see networks such as Tor grow and become more common use. We need to embrace these tools that give us privacy. I agree, let me quote this excellent piece from an article I read recently: "Never do anything against conscience even if the state demands it." - Albert Einstein
To effect change we are left with a boycott in everything but name. It means that non-US Western businesses need to start using "not subject to US law" as a marketing point. We need cloud providers and software vendors that don't have a US presence, no US data centers, no US employees - no legal attack surface in that nation of any kind. Perhaps most critical of all, we need a non-American credit-card company.
If enough of us start to pull our technology purchases out of the US they will indeed sit up and take notice; money leaving the country may well be one of the only things that will ever cause them to do so. Yes Sir. Fuck those pricks. But beware, believing that non-US Western businesses are somewhat independent from the US is delusional. All the West is part of the same "axis", and 90% of Western Govs. will do whatever daddy-US says. The revolution has to be done at a user level. Yeah, I'm not particularly fond of "businesses" as a general concept. I believe in agorism, still, it's a nice selling point, even for agorists, being able to claim "not subject to US law". I think it will be difficult for US to claim jurisdiction over someone who denies all US customers, blocks all US IPs, do not have any servers or domains in the US. I find that very comfortable, after all, they do have one of the sickest justice systems on earth (imo)  |
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Is there any ETA yet? This is really starting to drag....
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I agree, let me quote this excellent piece from an article I read recently: "Never do anything against conscience even if the state demands it." - Albert Einstein
To effect change we are left with a boycott in everything but name. It means that non-US Western businesses need to start using "not subject to US law" as a marketing point. We need cloud providers and software vendors that don't have a US presence, no US data centers, no US employees - no legal attack surface in that nation of any kind. Perhaps most critical of all, we need a non-American credit-card company.
If enough of us start to pull our technology purchases out of the US they will indeed sit up and take notice; money leaving the country may well be one of the only things that will ever cause them to do so. |
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$111 broken. Time to panic buy, for whoever is crazy enough to still hold fiat  |
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The market went crazy on news that mtgox would be adding litecoin support, as time passes by and nothing happens people are losing faith, giving up, etc. The price just couldn't be sustained. I've been buying some litecoins and will continue to do so around this price area and lower. When mtgox adds it, the price will go up to 0.03 or more, in my opinion. At that point I'll probably sell, with a nice 30-50% profit on investment. But it's difficult to predict the result of it being added, maybe I'm being conservative and people will buy like crazy shooting the price much further. Will have to keep an eye on it, when that happens and judge then.
Then there is the disastrous scenario in which mtgox doesn't add litecoin for some reason, or it is severely delayed to the point of market capitulation. That surely won't be good for the price ratio, even if mtgox turns around and adds it. So it better happen soon. Mark mentioned on twitter yesterday they have been working hard for 3 months and will soon release information, fingers crossed.
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The biggest threat to Bitcoin right now IS regulation.
+1 can't argue with that I do. The biggest threat to regulation is Bitcoin  I like the sound of that  |
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price is about to explode to 180, and you guys are wondering why someone would buy it up to 110. too funny So sayeth the November bottom theorist.  that was b4 the worlds first bitcoin baby  |
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price is about to explode to 180, and you guys are wondering why someone would buy it up to 110. too funny  |
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Usual trolling apart, let's see if $110 stands another assault.
Come on guys, if it's broken on the upside, who is panic buying in here?
Not me, I'm already all in. |
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Well, at least bitcoin was created for us who likes zero regulation.
And ironically, if this continues, that's exactly what's going to kill it. Yeah.... no. The biggest threat to Bitcoin right now IS regulation. +1 can't argue with that Welcome! I actually had you on ignore for quite a while, but put you off since you seemed to improve for a period. Guess I'll take this as a final push to put you back there, cheers. |
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Well, at least bitcoin was created for us who likes zero regulation.
And ironically, if this continues, that's exactly what's going to kill it. Yeah.... no. The biggest threat to Bitcoin right now IS regulation. +1 can't argue with that |
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Well, at least bitcoin was created for us who likes zero regulation.
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Price rising again with very low volume... painting the tape? Can we expect touching $110 today and $115 tomorrow? Damn manipulators  Let the bubble deflate completely! Anyway, i'm not buying it, sitting 100% on fiat until we go under $80, then i will start purchasing little by little. Oh man, you're going to be butthurt when it hits $120. On the other hand, I can see $120 then crash to $90 and below. If not, $180 in a month.  |
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He has been in a mental institution, probably just got a reality check and have now readjusted the target. He is still bullish, and a super node, you, on the other hand, is neither, if I had to guess. Suuuupppernode lifestyle here we come and welcome back rpietila! The said: "Mister Pietila, sir, don't you think $300 per m BTC within a year is a bit much". So they settled on $200 per m BTC after a few weeks and he could go home |
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It is becoming unlikely that we'll see $300 this year.
TIME TO PANIC $300 per mBTC If rpietila lost faith in his ultra bullish (verging on bull-shit) stance, it's as if pope said "ok, there is no god" He has been in a mental institution, probably just got a reality check and have now readjusted the target. He is still bullish, and a super node, you, on the other hand, is neither, if I had to guess. Suuuupppernode lifestyle here we come and welcome back rpietila! I'm bullish, I just believe that we will hit 30 before rebounding to new highs What if you're wrong? |
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