Colby's article was probably about as balanced as you can be when the immediate, direct audience is the anti-money laundering crowd and those tasked with compliance. I think it's great that the web address is moneylaundering.com instead of antimoneylaundering.com.
Money laundering is a pejorative term to begin with because it insinuates that the participants do not have certain inherent rights to financial privacy. The Jews "laundered" their money to Switzerland in order to escape Hitler's holocaust. Come on, people! Financial privacy is a fundamental human right that has been consistently eroded and violated by governments. We must take a step back and comprehend that "secrecy" does not mean "concealment", but rather that "secrecy" means "privacy" in its most basic sense.
Amen to that, +1. Let's bring back the "radical" old idea that a man's financial affairs are his alone, private and nothing to do with the state. The facist creep away from economic freedom has set back advancement of humanity immeasurably in untold ways. |
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Who is John Galt?
Satoshi Nakamoto is Japanese for John Galt. |
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Euchh, that got ugly quick, maybe a less public place to settle your differences of opinion?
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Satoshi definitely saw this as a strike against the malignant forces that national fiat currencies and the parasitic monetary/finance system has become.
Enslaving us all in unpayable debts and endless taxation for wars and bankster bonuses ... it is now a criminal system that will go down in history and those at top aren't doing squat to change it, except personal enrichment. (Oh but we are chasing bad guys playing poker online, trading goldbits and smoking weed on their couches ... whatta a load of BS).
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t's safe to say that my editors and myself, as well as all of my sources, were floored by the novelty of this invention, which I liken to something out of a Phillip K. Dick novel. That being said, I reported what many knowledgeable sources said were money laundering vulnerabilities. I was floored too, then elated. Not sure what you mean by "money laundering vulnerabilities", maybe it is strength that ALL trade can be private in this currency rather than a vulnerability? One man's terrorist is another man's freedom fighter. Ghaddafi's fighting Western Bloc forces alongside rebels with allegedly "Al Quaeda" amongst them, Things are pretty messed up already so deciding who are the bad guys anymore is arbitrary and those in power abuse it, cutting off commerce because some meglamaniacs want to play god and tell everybody what they can and can't trade is a blind alley for humanity, nothing surer. We are on the threshold of a new enlightenment, if the power-brokers can let go peacefully. |
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Yea, that is what I think would happen. The cool think is that it would go unnoticed until you reach a really good player, trader, that works himself up to greater than 0.01 from 0.00000001 BTC, then he will be playing/trading for effectively real money.
In essence, Play money to a point that converts to real money if your good.
I am considering a Business Plan on it, don't know how the community would take it.
Maybe $1000.00 USD for initial investment, plus share on percentage of income. Just like the good old days, work for little with a potential for a big payday.
What I am thinking is a good free game on the AppStore, with a percentage for taken exchanges, through a central exchange. Or just an upfront, 0.99 USD price with decentralization exchanges.
Can't do it myself, currently I don't know Obj C, generally I program in the mundane Assembly triage for specific processors. Which is great for what I do, but not for gaming (would take way to long).
You might want to denominate you business plan in BTC rather than depreciating fiat currency and you'll get more takers ...  |
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Now this is the kind of interesting, ahead-of-the-crowd, investigative journalism Time has been sorely lacking.
Well done, good instincts.
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Only dividing by 1,000 is kind of arbitrary .... why not 10 or 100? Consumers are always confused anyway, it is the way of the world.
Not really, the 1000 instead of 10 or 100 is because that's precisely how we already do it. And not just in SI measurements, but in currency as well: $1k; $1,000,000; etc. Except you are wrong since decimal divisions of currency have always been done in hundreds, as in centimes, cents ... the 1000's are used on the other side of the decimal point. Don't get me wrong I like 1000's and use scientific notation as it is simpler but the consumer doesn't, today. There has never been a sufficiently deflationary currency that has required it ... maybe they will get used to milli, micro, nano and pico when their meal ticket depends upon it ... but the couch potatoes I come across get lost when they run out of fingers and toes. |
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It is not legally "money laundering" as Bitcoin is not legally recognised as money but virtual commodity tokens. How can it be?
They are in a chicken and egg until they decide to go whole hog and declare Bitcoin as a bonafide currency, by which point it will be too late.
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Only dividing by 1,000 is kind of arbitrary .... why not 10 or 100? Consumers are always confused anyway, it is the way of the world.
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It is possible that someone who finds themselves in spot of bother and needs to move sizeable money into Bitcoins in an urgent manner due to outside circumstances. They may not have the luxury of time but they have luxury of fiat money .... for now.
""Give me your tired, your poor, your huddled masses yearning to breathe free, the wretched refuse of your teeming shore. Send these, the homeless, tempest-tost to me, I lift my lamp beside the golden door." by Emma Lazarus.
Bitcoin welcomes you with open arms.
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Or just keep it as it is, BitCoin - the stateless currency.
Yes, bitcoin as the stateless currency. We should however focus more time on implementing decentralized p2p exchanges and also address the vulnerabilities of IRC in light of an attack. What exactly do you have in mind for "decentralized p2p exchanges"? Are you able to clarify that interesting sounding concept with details as yet? |
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a proposal to make deepbit just a little more interesting  a fee to the one that finds a block of 5% or 10% and the rest of the block to go to the other co-miners? Or the block finding miner gets the transactions fees included in the block ... not much but just something to make it interesting without taking away from the "low variance" pay-out ...? |
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By using multiple e-mail addresses and anonymous proxies to disguise their locations, criminals can open a new Bitcoin account for each transaction and ensure that their money movements are "virtually bombproof and untraceable to an investigator," said Santorelli, a former Scotland Yard cybercrime detective and a former senior manager of investigations with Microsoft's Internet Crimes Investigation Team.
Okay. A $5 million sideshow warrants the investigative efforts of a Scotland Yard expert? And by the sounds of his comments he's spent enough time "looking into" Bitcoin to speak in a quite reasonably informed manner. He probably already reads this forum and has tried to do some transactions, maybe even in contraband already ... From the number of people, establishment types who watch these kinds of things, who are already up to speed with what Bitcoin can do, I'd say they are worried. They are watching their gravvy train and free lunch on taxpayer dime fading away, who needs regulators when you can't regulate? It's gonna be priceless watching the bankster's shit sandwich central bank fiat NWO monetary system unravel in real time. |
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Anybody got a link to a fun, colorful website or blog that could be good for explaining Bitcoin to kids?
Kids get to/ need to know how to manage cash from quite early on and they are remarkably IT savvy also, it seems like there should be a portal that can cater for them to understand it and then they can making small transaction amongst their friends, with their parents, siblings, or whatever. I know I had a savings account from age 7 or something, if they grow up with Bitcoins who knows what young imaginations can come up with?
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BitCoin motto:
"Building Character through Adversity"
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I can't imagine what kind of damage a botnet can do
It seems likely that most botnet machines would be lower-powered, without capable GPU. So, you'd need a really, really big CPU mining botnet basically... But what if the botnet intrustion code was smart enough to search for a suitable GPU (it would not care about mining efficiency so it would go for both ATI and AMD)!! Imagine the hashing power such a botnet could achieve. Imagine all those poor games who are left scratching their head wondering why their system lags and why temps spike "myseriously"...  If it's that smart, then why would it even be noticed by the user? It should be able to throttle the GPU so that it's running just below full fan heat and stop whenever the screensaver dies. Yet another reason to go to Linux ... botnets could get a lot more virulent if there is palpable money (bitcoin) at the end of the computational theft rainbow. |
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And in other news, Wall Street bankers bonuses rose again today ...
.... the biggest fraud goes unpunished, the society itself is criminal to core now so police action becomes meaningless, we are all criminals now, it is law of the jungle from here on in ...
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Bitcoin is generaly cool idea, but isn't it unfair?
I calculated that if almost everybody in the world would want to use a bitcoin as a main currency, then one bitcoin would cost about 1 million dollars!
As I understand it isn't technical problem, but people dont like unfair systems and this is why bitcoin can't spread freely I think. It is unfair because some of you already have a lot of bitcoins and the onese who are late will haveto pay too much for what the "rich" onese got for almost free.
I bought 10 bitcoins today and payed about 10 dollars. But first ones who used a bitcoin client did get same amaound almoust for free. If I think about that - I don't want to buy more bitcoins.
What do you think about that?
I think it is BS. You label a topic "Conceptual" and then put up a whiny, "I got here late so its not for me" sour grapes egocentric argument that is about as far from conceptual as possible ... I say, get a life. Bitcoin will work because it is superior to the other completely unfair systems out there ... get in now or you'll still be whining miserably when it gets to $100 per BTC. |
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