Argh.

If you use monies, you are under contract with the issuer.

Paypal is not a digital currency, it is a payment processor, a carrier of fiat money.

Any trades of bitcoin for fiat money puts the parties subject to that contract.

The SS will kick in the door and arrest anyone that their owners tell them to arrest. Private currencies undermine their owner's carefully crafted illusion of monopoly in money creation.

Money problems and control issues are not a new thing. Digital currencies are not a new thing. Persecutions and prosecutions of facilitators of private money is not a new thing.

I wish you kids would take some time to study the history. What you think is fair or equitable has no parallel in reality. This is a power struggle and the enemy owns your government and directs it's police. They own the drug trade, arms trade, public relations, gambling and other vice. They are not elected. If they catch you in their house using your own home-made poker chips, they will jail or kill your ass. By it's nature, exchange in or out of fiat money puts the exchanger clearly in the house.

Back to the subject at hand; What is up with LR?

I am in contact with the founders of LR, whom I have known and done business with since before the creation of LR in '02, and have a relationship with someone on the inside who just came back to Canada from Costa Rica. I am assured that there is no bank charter contract pending and that the increased KYC is only for the protection of customers against crackers and lost passwords. Do I believe this? No, I do not.

The owners of the governments have a long history of slow incrementalism toward collectivist totality. Today LR want you to verify that you have used your registered (slave) name. Who knows when, but sometime soon I predict that they will want to verify addresses. Then they will attempt to bring users under statutes that will turn LR into another payment processor. The gun held to the head of the trustee will remain unseen, but you can be sure it exists. For every stick there is a corresponding carrot. In this case the promise of charter.

On the other hand, there is no reason to panic. LR is not going to become a carrier of fiat anytime soon. After watching a half dozen previous systems fall to the tyranny, I have developed a good sense of timing my exit. Until LR starts freezing accounts pending presentation of gov issued (slave) ID, I'm not going to worry.

LR's primary exchanger just came to me with the offer of zero cost in. I predict that we will see out exchanges get more expensive and in exchanges might pay a premium, but I don't see the jackboots grabbing the loot quite yet.

Use it as it was intended - a communication vector, not a savings account.

You have your trust issues backwad methinks.

Why would a bitcoin seller trust you and your reversible MoneyBookers?

I'll bet if you did the same post about a Nigerian scammer, the bitfags posting here would shrill and stamp and call you racist.

lol @ bitfags

Note how the OP never fails to preclude the word "scammer" with the word "Russian".

George Jung long ago discovered that piles of rat gnawed stinky green paper was difficult to trade into anything of value outside of the excited states.

Yellow metal carries easily, resists rodent damage and is readily traded into luxury cars and fast women anywhere in the world.

In principle I don't advocate for banning anything, however I have serious concerns about advertising contraband on this forum.

By doing so, you paint a target on the exchangers.

Too few of you understand what exchangers have already been through. It was police action over gambling that caused every exchanger in the USA to quit or flee.

What is the FBI and RCMP going to do now that some of you have openly advertised sale of drugs by mail? Gambling got exchange people imprisoned, exiled and even murdered. What is police reaction going to be now, offering illegal drugs for sale and naming exchangers in the same posts?

In the past few weeks I've noticed links to illicit offers in my referrer logs. In all my years of working as cashier to the internet I've never seen such blatant disregard for the principles of discretion.

The men who run the bitcoin markets and the exchange services are not anonymous ghosts. We are real people in meat space with reams of law to obey, ID documents, bank accounts, offices and licenses. We can very easily be tapped by the lawmen.

Do you jokers really think exchangers will work for you when you have such little regard for their liberty?

Shut the hell up already.

You can't convert Paypal for anything resembling cash. Not for anything remotely liquid.

Trading bitcoin in and out of LR is easy, cheap and quick.

Read again post I made above.

Why not?

I don't understand your logic.

Does BoA have branches in all states? Is there one near you? What about Wells Fargo? Citibank?

At one time many of the states had laws prohibiting branch banking, or branches with out of state head offices. At one time a banker could not make a loan to anyone more than one day's return journey on horseback distant!

The laws have changed and the bank scene has evolved.

Which US bank has the most branches in the most places?

People already can automatically swap BTC in or out of LR  with low fees and no minimum, auction style at Mt. Gox or instantly at NG. That functionality has been in use for over a year already.

Bank wires have to be large enough to overcome the hefty flat fee. LR works fine for small spends, even for micropayments.

Probably that particular exchange operator was not in a buying mood that day. Another exchanger would offer you more.

This crazy unstable exchange rate has made bitcoin more of a stock market game than a good money for commerce. It's difficult to set prices or plan ahead when it's changing so rapidly.

Coffee4Bitcoin can charge a fair price today, but by the time it is delivered the customer feels he has paid too much. I expect any product that can't be delivered immediately might produce these negative feelings.

The opposite has also happened, where a day or a week later, the BTC I collected was worth less than I paid for the coffee.

The intrinsic value of bitcoin is in it's unique utility. That utility is adversely affected by wild price changes.

And if we are going to stand for that, we might as well just stick to using credit cards.

Which brings us back to the worry that LR is becoming a bank.

EUREKA! It works! I have one more bitcoin!

The defense against Paypal chargebacks is to not use Paypal at all.

Paypal only works when the receiver trusts the spender.

As a consumer protection feature, Paypal allows buyers to back out of trade and charge back their purchase. Users might cry that they did not get what they paid for, or they may claim their account was cracked or phished. Paypal will take the money back from the receiver.

As a seller, it's easy to trust someone who is buying a service that can't easily be resold, such as a subscription. 

With something liquid, the classic example being the mail order laptop, it's harder to trust the spender. What is to stop him from charging back after the hardware is shipped?

In the case of trading Paypal for cash money, like bitcoin, it's very hard to trust the spender. Nothing is more liquid than digital currency. It belongs to the bearer, as does cash. It's easily traded into anything you can imagine. It's liquidity is very attractive to phishers and scammers.

There is a whole army of thieves who understand this and will steal from you Quip. This is an old problem and has been addressed so very often by every digital currency in use, past and present.

When you start verifying and validating and ID ing and KYC ing and AML ing and on and on, you completely undo the benefit that the digital currency delivers. It's no longer private. Privacy is the necessity that did mother this invention. It's no longer cheap. All that checking and validating and getting to know someone is time consuming and expensive. In the end, you will be wrong about some users and you will be the only one to pay for those errors.

Now you are an exchanger; you are effectively upgrading the hardness of your users' money. The buck stops with you. You are the firewall against fraud.

Good luck and best wishes.

Sounds like "plunge protection team" lies. In the near future, nothing is going to go down against the USD, even dogshit is going up against the USD.

Silver is currently even more undervalued than gold.

Silver might go down against RE, but I doubt it. Might go down against gold, but I doubt that too.

I'll bet you all the silver I own that reality will unfold exactly opposite to this forecast.

Cash deposit to USA bank account.

link2voip
talksugar
nanaimogold

You know, businesses are not often judged solely by websites.

What bout Mt Gox? BTCex?

Are you some sort of site critic? What are your credentials?

That's what I figured, but Raulo says no.

> Correction. The first is minted in 1370=1991/2 AD. The other is 1367=1988/9 AD.

According to my numismatics books, only brass coins were struck in those years.

Well, no. I can't know what to offer you.

Nice.

Maybe this is correct;

Minted in 1979, called "Bahaar-e Azaadi" or "Bahar-e Azadi"

if so, the gold content;

8.136g * 21.6 Kt (90%)
7.3224g au * $43.8664
$321.21 USD / 0.9291 = 345.72 BTC ea.

plus a premium for being a sweet coin.

A bank solicits deposits and makes loans at interest. Mt Gox is a financial services business (FSB).  Since these definitions come from France, I will assume they are also used there. FATF is Groupe d'action financière (GAFI)

Generally, this "authority" claims that FSBs who transmit money must be licensed. I can argue that exchangers don't transmit money, and be correct, but the opposition has proven themselves to be motivated to something other than justice.