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“There is a natural order to this world, and those who try to upend it do not fare well.” – from "Cloud Atlas"
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This is rediculous. Where do all these operatives cash out - MtGox? It's not like they can just buy a yacht with Bitcoin. All the transfers of funds would funnel down to a narrow point of exchange and be visible to the whole world in the blockchain. Yeah, I'm sure no one would notice a $50 million transfer and cash out to buy armament for a puppet regime.
This isn't 1991. You don't need to dial into a BBS to get your FidoNet messages anymore because it grew into something more useful. Bitcoin is adding layers and growing into a more useful internet protocol. The internet itself hasn't changed its basic protocols in decades, and neither will Bitcoin. MtGox will likely be bought by Wal*Mart or some other ubiquitous entity and get renamed WorldCoinz or some such corporate sounding name and have POS systems everywhere they sell cigarettes, gas, and beer. Look at the post above yours - it still applies. Yes today it does. Obviously. You wouldn't want to use any form of electronic currency to move $50 million. Only Bitcoin will someday allow you to do it untraceably. Now that I agree with - someday. OTOH, when Bitcoin gets to that point, there will be very little need for large amounts of armament. |
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 easy logo LMFAO |
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This is rediculous. Where do all these operatives cash out - MtGox? It's not like they can just buy a yacht with Bitcoin. All the transfers of funds would funnel down to a narrow point of exchange and be visible to the whole world in the blockchain. Yeah, I'm sure no one would notice a $50 million transfer and cash out to buy armament for a puppet regime.
This isn't 1991. You don't need to dial into a BBS to get your FidoNet messages anymore because it grew into something more useful. Bitcoin is adding layers and growing into a more useful internet protocol. The internet itself hasn't changed its basic protocols in decades, and neither will Bitcoin. MtGox will likely be bought by Wal*Mart or some other ubiquitous entity and get renamed WorldCoinz or some such corporate sounding name and have POS systems everywhere they sell cigarettes, gas, and beer. Look at the post above yours - it still applies. Yes today it does. Obviously. You wouldn't want to use any form of electronic currency to move $50 million. Only Bitcoin will someday allow you to do it untraceably. |
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This is rediculous. Where do all these operatives cash out - MtGox? It's not like they can just buy a yacht with Bitcoin. All the transfers of funds would funnel down to a narrow point of exchange and be visible to the whole world in the blockchain. Yeah, I'm sure no one would notice a $50 million transfer and cash out to buy armament for a puppet regime.
This isn't 1991. You don't need to dial into a BBS to get your FidoNet messages anymore because it grew into something more useful. Bitcoin is adding layers and growing into a more useful internet protocol. The internet itself hasn't changed its basic protocols in decades, and neither will Bitcoin. MtGox will likely be bought by Wal*Mart or some other ubiquitous entity and get renamed WorldCoinz or some such corporate sounding name and have POS systems everywhere they sell cigarettes, gas, and beer. |
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I see the Trezor as mostly useful like a Yubikey with thousands of keys stored. Social networks can use them to securely identify logins and also offer micro payments to play with farm animals.
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Bitcoins become nonexistent when everyone unplugs all the computers
Please lead by example. |
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I kinda wonder why there is any interest in bitcoin. With a market cap of only a billion, it wouldn't pay the catering for the conference.
Because anybody with half a brain can see its game-changing potential. It can subvert the current power structures, which are dependent from financial lobbies that control the usd They should have thought of that before they let Al Gore invent the internets. They haven't really discussed any game-changing potential, possibly because of the half-brain requirement. If they did, they would be talking about all the beneficial things crypto-currencies offer. Instead, they frame Bitcoin as a foreign currency sponsored by "all kinds of mean nasty ugly looking people." Again, this "conference" sounds like it's nothing but a lobbyist effort to kill Bitcoin with no evidential reasoning. Hopefully, they will someday focus on administering the network competitively as it is designed rather than fighting it idealistically which they have no moral standing to do so. There are real threats out there now from banks like HSBC that need attention. |
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They know they could lose the store but I don't think they have anything to fear. I expect that the "REGULATE ME, PLEASE!" crowd will save them the worry and just hand Bitcoin over to them in their zeal to be compliant.
If this post were from a noob I would take exception. At this point I will scratch my head. My understanding is that it would take a major fork to hand over the keys to regulators. I don't see that happening. Voluntary compliance should be more than enough to satisfy them, especially if they offer monetary incentives to do so. |
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No. A distributed exchange most likely will not work.
Bitcoin was designed from day one to be distributed... your bank account wasn't. I don't think you'll find many people willing to upload their bank account info, credit card or traditional form of payment to a distributed system. Fiat in Bank Accounts is not meant to be P2P distributed... Meaning random people sending random SMALL amounts to strangers' accounts... Based on a some network algorithm they trust. In fact, doing something like this is probably MORE illegal... Than just running a Bitcoin exchange... One could make the case it falls under Racketeering and the RICO statutes. I'm not aware there is anything illegal about using a bank to make private transactions. In fact, the banks do enjoy the fees. The law in about INTENT. What it is you are intending to do. And LE is not stupid. They've seen every kind of smartass. Forming an organized group where the INTENT is to circumvent Financial Regulations... Is far more serious than running a public exchange with reasonable compliance like CampBX. There isn't a group forming at all. It sounds more like a decentralized protocol with no person or group of persons in any position of authority. It will be like every back alley and airport restroom where one can freely exchange for goods and services. It will be a steroid shot for Bitcoin. |
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I kinda wonder why there is any interest in bitcoin. With a market cap of only a billion, it wouldn't pay the catering for the conference.
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The silver to bitcoin isn't litecoin, it is silver.
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Litecoin has nothing new to add. Bitcoin has all the development and tools. The altcoin is a good experiment, but it solves no problem that hasn't been solved for bitcoin.
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There is only one US official listed as a speaker. This looks like nothing more than a lobbyist soiree sponsored by big banks. The folks with power may be in attendance, but I doubt they will be paying attention to the speakers.
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What's my privacy on this board? I'm not concerned about threads that I post in, but what about the threads I only watch? Who has that information? Is this board's meta-data encrypted?
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I wonder which is used more for illicit activities Cash or Bitcoin?
There probably is more money laundered into the wall street from any single delaware company than with BTC total. FTFY |
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No. A distributed exchange most likely will not work.
Bitcoin was designed from day one to be distributed... your bank account wasn't. I don't think you'll find many people willing to upload their bank account info, credit card or traditional form of payment to a distributed system. Fiat in Bank Accounts is not meant to be P2P distributed... Meaning random people sending random SMALL amounts to strangers' accounts... Based on a some network algorithm they trust. In fact, doing something like this is probably MORE illegal... Than just running a Bitcoin exchange... One could make the case it falls under Racketeering and the RICO statutes. I'm not aware there is anything illegal about using a bank to make private transactions. In fact, the banks do enjoy the fees. |
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Sukrim makes a good analysis and I believe this Ripple XRP is Proof-of-Stake. Open Transactions with Bitcoin will prove far superior though may face unfair regulatory hurdles that TBTF banks do not. Due to the secrecy nature of Opencoin, I suspect their project is a threat to decentralized crypto-currencies and a friend to centralized virtual currencies.
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If it's in references to this thread: https://bitcointalk.org/index.php?topic=232950.msg2455940#msg2455940There is nothing to worry about. The virtual currencies used for crimes are plethora and capitalized in hundreds of billions. That problem predates Bitcoin by decades and will continue to avoid Bitcoin as it is far more traceable than offshore virtual banks. |
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