The solution perhaps could be a gold backed cryptocoin, but how would that work? It would have to be issued from a country that doesn't bend over to Uncle Sam ...  Libertyreserve was also gold backed currency. Check DGC wiki, Don't know what happened to their "GOLD". |
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Exactly! Let the government Liquidate Bitcoins' competition for us.
and then ban bitcoin in america and seize all american bitcoin exchanges/companies. It will be easy for them. They are Govt. They can do anything. |
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American govt is crossing their limits, They just want to control whole world.
For those who are comparing bitcoin with American dollar (cash) and saying it's a p2p and US govt won't do anything are fool.
If Libertyreserve was hub of criminal payments, Bitcoin is heaven. It was also designed for high anonymity like LR.
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Yes, and when Bitcoin miners and users are targeted we will all be in for a world of heart  heart or hurt? lol heat XD |
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This is bad for bitcoin. Very bad.
It shows that the US goverment is fed up with virtual currencies that can be used for money laundering. And bitcoin is even MORE anonymous than LR was.
I think this is a bad sign and bitcoin is in trouble.
Look at the trend:
- US govt freezes dwolla account of MtGox
- LR shut down by US govt
- OKPay announces it will stop working with bitcoin (US govt involved??)
That's three less ways you can exchange US dollars for bitcoin.
What comes next?
- US stops international bank wires to bitcoin exchanges
- US shuts down campbx and bitinstant
- US cracks down on local bitcoin sales through localbitcoins
- US companies are banned from accepting bitcoin as payment
Bitcoin crashes and goes away.
I see what you are doing, want cheap coins right? No, I bought most of my coins at about $10 and I have plenty. I'd love for it to go back above $200 and higher, but I am seriously considering selling earlier if I see more bad news on the horizon from the US govt. Like WackWilly said, yes, it's just concern for the future of bitcion. What bitcoin needs now is acceptance more than it needs fewer competitors. Agree with you mate, They closed LR because cyber criminals were using it, they all know that bitcoins are getting used in deepweb and they have a eye on it. |
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Some body lost a lot of money?  Lots of peoples lost thousands including me. Some had more than 50k |
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Why is this important to bitcoiners? Why because namecheap is one of the only domain registrars who accepts bitcoin payment. http://www.namecheap.com/deals/20000-retweets-0.98-domains-june-2013.aspxIf 20000 retweets are reached, there will be a 24 hour sale where all .coms, .nets, and .orgs are only 98cents. its currently at 3223 retweets. the deadline is in only 5 days!!!! only 16, 777 retweets to go That's great, some weeks ago they were giving domains at 0.98$ if you use coupon. |
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bitcoin itself is decentralized. but how does one come up with a decentralize exchange?
Don't know, someone still have to make a website for it and it can get seized. Biggest example: Exchangezone It used to work as escrow service and p2p exchange and it also got closed along with LR |
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It is very bad for bitcoin.
It shows that the US government is cracking down on anonymous virtual currencies that can be used for money laundering.
It is harder for them to shut down bitcoin but not impossible.
Let's say they shut down all the exchanges that exchanged dollars for bitcoin? Or at least froze the accounts of them. What do you think would happen to bitcoins price? And then it's utility?
It would be a big step back for bitcoin, and I fear that it is coming. soon.
+1 Well everyone knows bitcoin is getting used on deepweb for illegal things and if one day US govt decide to block bitcoin from america, they can do it easily. Although they won't be able to STOP bitcoin but they can bring bitcoin prices on it's knees anytime. |
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Maybe I misunderstood what you were saying? I said it affects fewer people than Cyprus, you said "not fewer", which implies "larger", so to me you are saying that this is larger than Cyprus?
Ah sorry actually i didn't knew what cyprus thing is that time. . |
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Not fewer people dude, too many. Total 6 billion dollars got seized and yes people will move to bitcoin for sure.
You are trying to say that more people used Liberty Reserve than live in Cyprus? A country with over a million people and an economy of over 20 billion dollars? I didn't compared it with cryprus |
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If you have not heard the news yet, Liberty Reserve has been shut down http://www.bbc.co.uk/news/technology-22680297This is bullish news for Bitcoins. Not only is there now one less competitor to bitcoins, but this shows one more time why a decentralized payment network is much more resilient than a centralized one. This also shows how aggressive governments can be, so it is even more important to have your money in a place you control, one which will not get shut down by police. Is this as big as the Cyprus thing? No, because it affects fewer people, but it is just one more thing in a long line of acts which the government is doing which will ultimately push people into using Bitcoins. Not fewer people dude, too many. Total 6 billion dollars got seized and yes people will move to bitcoin for sure. http://www.justice.gov/usao/nys/pressreleases/May13/LibertyReserveetalDocuments.php |
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Nice, thanks for sharing it dude  |
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