I love this...! Would be awesome with a bitcoin voiceover!  |
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Those who are intermediaries in the transfer of virtual currencies from one person to another person, or to another location, are money transmitters that must register with FinCEN as MSBs, unless an exception applies. Pretty depressing really. Liberty Reserve operated as an online money transmitter deliberately designed to avoid regulatory scrutiny and tailored its services to illicit actors looking to launder their ill gotten gains.
According to the allegations contained in a related criminal action brought by the U.S. Department of Justice, those illicit actors included criminal organizations engaged in credit card fraud, identity theft, investment fraud, computer hacking, narcotics trafficking, and most relevant for today’s purposes, child pornography.
The action taken by FinCEN was designed to protect the financial system from the risk posed by Liberty Reserve an online, virtual currency, money transfer system that was conceived and operated specifically to allow and encourage illicit use because of the anonymity it offers. They could replace "Liberty Reserve" with "Bitcoin" and it would still be just as accurate, more so actually. I recently heard a banker say that there is a reason that financial institutions have to obtain licenses. It is a great bestowal of trust that enables banks to be part of the U.S. financial system, to be part of the global financial system. Yeah... "A great bestowal of trust". It has nothing to do with preventing competition. no no. The saddest thing about this entire document is that they never mentioned that foreign companies / individuals are exempt as long as they do not deal with US. Guess nobody is really exempt from the almighty world police of USSA. I would like to close with a challenge to our great innovators: extend your focus to devising creative solutions for preventing the abuse of virtual currencies by criminals, such as those who would exploit children The "think of the children" card, honestly, it's getting kind of old. We all stand to benefit from such innovation, and the related transparency and integrity to our financial system Oh, the sweet sweet irony. |
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Those who are intermediaries in the transfer of virtual currencies from one person to another person, or to another location, are money transmitters that must register with FinCEN as MSBs, unless an exception applies. Pretty depressing really. Liberty Reserve operated as an online money transmitter deliberately designed to avoid regulatory scrutiny and tailored its services to illicit actors looking to launder their ill gotten gains.
According to the allegations contained in a related criminal action brought by the U.S. Department of Justice, those illicit actors included criminal organizations engaged in credit card fraud, identity theft, investment fraud, computer hacking, narcotics trafficking, and most relevant for today’s purposes, child pornography.
The action taken by FinCEN was designed to protect the financial system from the risk posed by Liberty Reserve an online, virtual currency, money transfer system that was conceived and operated specifically to allow and encourage illicit use because of the anonymity it offers. They could replace "Liberty Reserve" with "Bitcoin" and it would still be just as accurate, more so actually. I recently heard a banker say that there is a reason that financial institutions have to obtain licenses. It is a great bestowal of trust that enables banks to be part of the U.S. financial system, to be part of the global financial system. Yeah... "A great bestowal of trust". It has nothing to do with preventing competition. no no. The saddest thing about this entire document is that they never mentioned that foreign companies / individuals are exempt as long as they do not deal with US. Guess nobody is really exempt from the almighty world police of USSA. I would like to close with a challenge to our great innovators: extend your focus to devising creative solutions for preventing the abuse of virtual currencies by criminals, such as those who would exploit children The "think of the children" card, honestly, it's getting kind of old. We all stand to benefit from such innovation, and the related transparency and integrity to our financial system Oh, the sweet sweet irony. |
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3000 coint till 100.
Nothing to fear. Less than 3k now... *gulp*  |
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new ask wall 500BTC @ 108.49
time to panic sell?
Did you give up your $180 prediction  no, I still believe! do you? i think most of the resistance will be here at 108ish, once everyone has sold, we can take off, so please bears, sell now I think 12 days is too soon, but I'm still all in. How can I NOT believe now that we just had the worlds first bitcoin baby  |
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in 12 days i will be the one loling.
this |
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new ask wall 500BTC @ 108.49
time to panic sell?
Did you give up your $180 prediction no, I still believe! do you? i think most of the resistance will be here at 108ish, once everyone has sold, we can take off, so please bears, sell now I think 12 days is too soon, but I'm still all in. How can I NOT believe now that we just had the worlds first bitcoin baby |
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new ask wall 500BTC @ 108.49
time to panic sell?
Did you give up your $180 prediction |
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Is it just me or this canyon has gotten a tad steeper if compared to few days ago? Is that a serious question? Is it just me or is it June 13th while few days ago the day could be expressed with a single digit? Fuck, I'm so observative. Observe this.  |
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"I am pretty confident we are the new wealthy elite, gentlemen." - Atlas
"Bitcoin will do to banks what email did to the postal industry" - Rick Falkvinge
"I have done a lot of thinking about bitcoin that ended up with me investing all of the money I had saved and all that I can borrow into the currency." - Rick Falkvinge
"[Bitcoin] is a techno tour de force." - Bill Gates
"Did I mention how good it feels to be a bitcoin millionaire?" - Max Keiser
"It can only go UP UP UP!!!" - Bruce Wagner
"BN,NS! !!!!!!!! BUY NOW - Don't wait till next week!!! NEVER SELL - No matter how high it spikes!" - Bruce Wagner
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BTW: How can laissez-faire ("let it be", "let it go") be diluted? These are two very common french words and merely translating them leads to the correct definition: no government involvement in the market! No exceptions.
It's weird, I had a discussion recently where I used that word, and the other party assumed I was talking about a "less" regulated market, but still regulated. It's kind of like the diluted version of capitalism is starting to spread. I still use laissez-faire though, and like you, point it out if people got it wrong. |
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In other news: guys, time to sell. Really.
What? Has it reached $300k/m BTC already? Almost - anyhow, I'm just trolling. You guys know i'm a long term perma-bull  Is there anyone who is not? Those who held 100% fiat and waited for the price to drop to $2 one more time, back in 2011. Ooops |
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And once again I disagree  Why? You say I should take their definition because I don't have power over them. That's nonsense. It makes it very difficult to communicate with someone if their definitions differentiates from the majority. It doesn't have to do with surrendering anything. I cannot and will not accept a definition that's internally inconsistent. Even if all others in the world do accept it. You're right this may impede communication. I don't know you're political believes. But capitalism is an example of a word, that now, by the majority means a "government regulated marked / corporatism" and not a free market. Because of this, I do not use the word "capitalism " anymore, instead I use voluntaryism, anarcho-capitalism etc. Even "laissez-faire" has been somewhat diluted lately to define a regulated market. In your opinion I would be better off sticking with "capitalism" even though majority will misinterpret it. I guess we'll have to agree to disagree  |
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And once again I disagree Why? You say I should take their definition because I don't have power over them. That's nonsense. It makes it very difficult to communicate with someone if their definitions differentiates from the majority. It doesn't have to do with surrendering anything. |
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Sure sounds like there's a lot of SR vendors on this thread, trying to morally justify they are just that  Maybe bitcoin economy is mostly SR afterall... You are wrong. I never dealt on SR, ever. Don't take it so seriously, I was just poring oil on the fire  That being said, I don't have any moral issues with SR and may very well start dealing there one day. Just don't know what to deal. |
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And once again I disagree Why? |
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Sure sounds like there's a lot of SR vendors on this thread, trying to morally justify they are just that Maybe bitcoin economy is mostly SR afterall... You are wrong. I never dealt on SR, ever. |
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You don't disagree, I don't believe in any moral need to follow laws that are unjust either. But if the statist are going to name you a criminal for doing what's right, then be proud to be a criminal.
No, I do disagree They aren't crimes. Some ignorant people (governments mainly) may label them as crimes, but this doesn't make it so. See that's the thing, it all boils down to definition, but we don't have any power over those. So instead of trying to explain to people that their definition is void, it's better to take on their defintion, their label, and embrace it fully. Yes, I'm a criminal. Yes, I'm a pedophile. Yes, I'm a terrorist. Yes, I launder money. So what? This spurs a much more interesting conversation, than trying to explain what is criminal behaviour and what is not. |
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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. Victimless crimes is logical contradiction. What they call victimless crimes aren't crimes. (blasphemy, prostitution etc.) Victimless crimes are still crimes. If you break the law, you are a criminal. I disagree. Morally, one shouldn't be bound to follow laws that are unjust. Just don't get caught/prosecuted. You don't disagree, I don't believe in any moral need to follow laws that are unjust either. But if the statist are going to name you a criminal for doing what's right, then be proud to be a criminal. It's just as weird as your conclusion that I seem to live under some kind of illusion If you believe most criminals have done something morally unjustifiable, you're either morally corrupt or live under the illusion that those crimes have victims, even though they do not. |
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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. Victimless crimes is logical contradiction. What they call victimless crimes aren't crimes. (blasphemy, prostitution etc.) Victimless crimes are still crimes. If you break the law, you are a criminal. 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. Following your line of thought by saying that "being criminal is a good thing" you live under the illusion that every crime is victimless. That's a weird conclusion. Most crimes are victimless, some are not. But since the majority of criminal actions are victimless, I believe it's fair to say it's a good thing that bitcoin is used by criminals. |
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