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in other news: Bitcoiners are Using Fake IDs to buy Kids Online. *joke*
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in other news: Kids Are Using Fake IDs to buy Bitcoins Online.
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I'm not sure who those pictures represent and my comment only presumes they are American because they mug for their photos.
FEDs can apply to "National" banks as well. I used to live in a neighborhood that was built by an S&L exec that escaped Reagan's prosecution. He knew how to punish bad bankers. Finance industries always attract scammers. Volunteer organizations also attract scammers. With Bitcoin being both, it's doubly so.
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Ooh, scary. Except they don't. Hashtag itsabigworld
____________ ____________ ____________ / / /    American. American. American. Ban Bitcoin in America and China and Bitcoin will do just fine. America has and always will have the most scumbags in the world. |
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First they laugh at you then they send in the FEDs. - Metafilter
Ooh, scary. Except they don't. Hashtag itsabigworld |
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CCMF! lol. prolly gonna break the exp trend soon but fun to watch.  |
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Okay. This is a first for me in a long while. TO DA MOON! |
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Rule of thirds will bring us to 466. It may stall if low volatility keeps us down in the Fifties at 450. If 466 doesn't hold then we'll stay sideways between Chinese magic 444 and rule of thirds 433. If it holds, then possible run up to the Chinese magic 555 before Western bears rule of thirds us back to 533, then back to Fifties level 500. Bitcoin speculation is ruled by magical thinking.
I seen 666 going steady for a while (months ago). I think it means something   Probably the same traders that like 420. |
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Rule of thirds will bring us to 466. It may stall if low volatility keeps us down in the Fifties at 450. If 466 doesn't hold then we'll stay sideways between Chinese magic 444 and rule of thirds 433. If it holds, then possible run up to the Chinese magic 555 before Western bears rule of thirds us back to 533, then back to Fifties level 500. Bitcoin speculation is ruled by magical thinking.
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So - from what I'm reading here, the plan is "let's release dark wallets, have our holy privacy to exchange coins with mycheatingsexsite.com, myklukluxklan.org, myheavydrugsite.net with no one knowing (especially not your spouse, your employer and the government), and help the 1% richest people in the world become richer by making the poor poorer and corrupt more and more people/organization/governments with absolutely no chance to track them down". Did I get it right?  Or is there any plan to limit the second part whatsoever? (I know I'm presenting things from an extreme angle here, but you get the point) Privacy allows innovation. The rich stay richer by keeping the innovators down i.e. Tesla. Brains are the most valuable resource we have and keeping our thoughts private insures that power remains egalitarian. |
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My point is that power over others corrupts. With privacy, less power is given to a few elite individuals. So, yes it will be easier for an individual to do bad things in a private world. But it will be much harder for a small number of people to have power over, and do harm to, large numbers of others.
For the sake of argument let's say 10% of people are "bad" and 90% of people are "good." (Obviously this is just for example purposes and everyone has some good and some bad tendencies.)
With privacy and decentralization that 10% can only do maybe 20% of the good people harm. With power given to a few (still with the 10/90 split) the one out of ten "bad" people can inflict harm on nearly everyone. The reason that a few people have a bajillion dollars to hide is because we gave them the power to take it. Without that power they would have a lot less.
Well said. |
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Dark Wallet coinjoin goes through a server, but the server cannot see any details of your transaction nor can they steal your coins. All details are encrypted for the counterparty, and all signing happens in the client.
The only weakness here is that a server gets taken down stopping the service in which case you switch to another service. Even if the NSA controlled the server, they wouldn't be able to steal your coins or observe your transaction at all.
Lastly the server is sharing messages with other servers (we are improving this too), so it isn't really centralised. It is federated kind of like how different email providers inter-operate with each other. The decentralised aspect will only improve over time as we develop standards and deploy technology.
Are you guys running a server? I'm not a laywer, but: If that is the case, that server could be shut down and Mr. Wilson and cohorts arrested for "running a service" that "facilitates" or supports illegal activity. Its clear that DarkWallet will be attractive to people who are doing things that are considered 'illegal'. If I'm not mistaken, Liberty Reserve and eGold were shut down for the same reason. Liberty Reserve's founder is apparently facing a long prison sentence (the charges against him include his boastings about the service's illegal utility). The developers of Bitcoin, and BitTorrent for that matter, don't face legal liability because they just write the software. They don't actually operate anything. I like DarkWallet, but hopefully the 'decentralised aspect' will improve very soon. The us is obviously going to do some very intensive traffic analysis on whatever server(s) you're operating. It's all encrypted. Try proving anything. They target the users machines with specially designed malware (assuming the server is as secure as believed). Once they decide the server is facilitating illegal activity, they will move in. Best to be paranoid. If I understand how this works properly, the server only matches encrypted keys. It doesn't do anything outside the blockchain. So if the users were not using TOR, then they might be able to trace the IPs. I suspect that these servers will become virtual and anonymous eventually. I don't like it, but I am open-minded enough to want to see what happens with the experiment. |
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Dark Wallet coinjoin goes through a server, but the server cannot see any details of your transaction nor can they steal your coins. All details are encrypted for the counterparty, and all signing happens in the client.
The only weakness here is that a server gets taken down stopping the service in which case you switch to another service. Even if the NSA controlled the server, they wouldn't be able to steal your coins or observe your transaction at all.
Lastly the server is sharing messages with other servers (we are improving this too), so it isn't really centralised. It is federated kind of like how different email providers inter-operate with each other. The decentralised aspect will only improve over time as we develop standards and deploy technology.
Are you guys running a server? I'm not a laywer, but: If that is the case, that server could be shut down and Mr. Wilson and cohorts arrested for "running a service" that "facilitates" or supports illegal activity. Its clear that DarkWallet will be attractive to people who are doing things that are considered 'illegal'. If I'm not mistaken, Liberty Reserve and eGold were shut down for the same reason. Liberty Reserve's founder is apparently facing a long prison sentence (the charges against him include his boastings about the service's illegal utility). The developers of Bitcoin, and BitTorrent for that matter, don't face legal liability because they just write the software. They don't actually operate anything. I like DarkWallet, but hopefully the 'decentralised aspect' will improve very soon. The us is obviously going to do some very intensive traffic analysis on whatever server(s) you're operating. It's all encrypted. Try proving anything. |
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What has China done for Bitcoin?
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Filipinos seem to have an understanding about privacy and personal responsibility with finances that Westerners seem to lack.
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Thank you genjix, for explaining how it works. It does look to be promising and a good use of technology. It's refreshing to see something developed that shows some inspiration and isn't a scam. If it wasn't for all the raging-against-the-machine-rhetoric folks would take the practical aspects of this more seriously.
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Has anyone pursued an SEC license for money exchanging services and Bitcoin ATMs?
I have an attorney that's started the process, but still working through issues. I'm looking into it also if I can use the funds to also serve as an immigration bond. |
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Has anyone pursued an SEC license for money exchanging services and Bitcoin ATMs?
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