Since most of us suffered huge losses as the result of the Bitcoin crash-devaluation last month, there is really nothing to regulate here. 80% of people who foolishly experimented with Bitcoin Over the counter Swap Derivatives (OSDs) recently have been robbed by the Bitcoin Pharaohs who got there's for $10.

There is adequate tracking of bank transfers in Canada to make it merely a pointless duplication to force Bitcoin Derivative Marketplaces to register as banking or credit institutions.

You are correct. it's value is too unstable to contract, estimate, forecast or pay anyone in, it's too slow to transact and it cannot handle large liquidity exchanges without huge value penalties, so it's limited to small potatoes transactions and really no competition for money.

It is a serious threat to the debit and credit card monopolies though, and a huger still challenge to the central banksters because it endangers the lifeblood of their most treasured deregulated  "credit swap derivatives" loophole.

Well the Austrian national-socialist "economizers" still don't understand the fundamental difference between a mere, inanimate 3rd rate Commodity-pile of too much of some "wealth" (Medium of Savings Commodity) and the Prime Resource value of a "money" (Medium of Labour-Resource Exchange), nor do they recognize the crucial moral difference between loving and growing goal-oriented economies of Our human families and the ever-decaying soullessly bestial enslavement-oriented corporate monopolist ones.

According to the stupid Austrian fascists, the various commodity-crud of their world just gets up and "does itself all day" (medium of exchange) necessitating a "money commodity" to replace/substitute for the commodity-junk that other commodity-junk "doesn't want or need".

I can assure you that without the Prime Resource of labour, no commodity-thing ever gets up or does anything to anything, by or for anyone, with anything or without anything and there is and can be no such thing as "economics". Their emptying, Malthusian zero-sum philosophical planet is one where ennobled carts of "their crap" are pushed around for them by "so-many" disposable horses.

A "money" is a reasonably stable-valued, standardized Medium of Labour Resource Exchange token - period!

You can exchange anything with anything, that doesn't make either of them a "money".  A "money" is the token of human Labour Resource Exchange-Value that humans pre-agree to get paid in for the private properties of works that humans perform, so that humans can choose what humans want or need to obtain out of it's human Labour Resource Exchange-Value afterwards.

A "money" is not just "some commodity" it is The Prime Resource Token of the human value of the Prime Resources of every economy. It is the token of measure of the property values of it's people's labour-properties.

Allow me to apologize to both of you, I am just trying to present the philosophical rebuttal to the DHS ticket-cop's write-up.

I rather fancy that most people still have little idea of what bitcoin is, or the truly monumental breakthrough it represents in the science of independent human resource exchange-valuation transmission. It is a quantum leap beyond anything else that has ever been used by humans as their own Medium of Labour Resource Exchange. Though it may bark like a money and quack like a money it is most assuredly not any sort of a national socialist foreign-exchange "currency", nor is it backed by anything other than faith in our own human natures. Furthermore it cannot be seen thus cannot be construed to even appear let alone "look like" (prima facie) anything anyone has ever used as a "money" (national-socialist trade-backed foreign-exchange currency).

It is not a genuine nor a "reserve"-counterfeited (fiat) gold or silver deposit-receipt note issued by any smithy or nation, nor is it a constitutionally valid publicly owned and operated for public profit "fiat" greenback-currency like that of Julius Caesar, Henry 1st or the Continental Congress/Lincoln/JFK. It is not a privately issued for private profit debt note to private lenders backed by ancient gold enslavement bonds possessed by a bankrupted nation in receivership's gold-Pharaoh boardroom-socialist creditors, either...

So when we look to see the true nature of the Commercial Resource instrument that it is, we see that it is a "derivative token" of a known, previous "funded credit" transaction that may potentially be exchanged for an unknown and unknowably-valued future "credit funding" transaction whereby it can change hands once more, and so on.

Therefore it is a token derivative of a past and likely future Credit Swap, that may be had in a marketplace or over a counter, to use as an alternative to/from conducting a legal tender transaction.

That does not make it either a "currency" or a "money" unless one chooses to redeem it for one, (by selling it to another "credit funder") and then apply that funder's currency to the transaction conducted.

Invalid by what logic? Do you always present your learned arguments by "B" sci-fi movie characterizations?

Why do you think FinCen was not only forced, but absolutely obligated to deal Bitcoin a strict "hands off" for their TBTF masters?

The answer to that goes back to Brooksely Barnes and the CFTC.

Any legislation or regulatory rumblings in any way or manner affecting their sacred, secret back-counter Derivative Swaps is like showing a "blessed, holy cross" to these vampires, you silly!

If a precedent be established whereby regulators could regulate the Bitcoin Credit-Swap OTC market, then they could also regulate and require disclosures of actual, secret, "over the (back) counter" Credit Swaps that the investment banksters use to insider-trade and swap losses for their swap-alternating short/long positions to fix prices (and concertedly rob markets) with, to keep cyclically swap-neutralized short-selling losses off of their books.


Unless the DHS Gestapo have a hankering to become relics of the past in a big hurry, they'd better just drop this half-assed, half-baked fishing expedition!  LOL

BTC is an Over the Counter Credit Swap Derivative  (OCD) in the eyes of the law. You can't regulate it without stepping on some very very TBTF bankstering toes. Anything that would threaten Over the Counter Swaps would totally threaten and jeopardize the principle criminal loophole by which the TBTF "investment" banksters can insider trade all day long to fix stock prices and bond and futures markets by merely ping-ponging predetermined losses back and forth, thus keeping their shorted Defaulted Credit Losses completely "off their books" by "swapping them" (and keeping any profits they've stampeded) each day.


A bitcoin is an Over the Counter (OTC) Credit-Swap (funded Credit Swap or fCS).

To you, it is only worth what the last guy sold it to you for and made off with. You funded "his" credit for it and the next guy (is assumed to be willing to) fund yours! It is a funded credit derivative backed by nothing but faith.(in a "next guy")

http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000

The reason Bitcoins/Altcoin tokens are legal is because they are OTC derivatives (of their own past-funding transaction) with a uniquely intrinsic digital anti-conterfeiting network-transfer capability (marginal intrinsic value). Otherwise they would be a Ponzi scheme.

https://bitcointalk.org/index.php?topic=175708.msg1832923#msg1832923

But, at stake is the irony that the FinCen analysis points out. Any attempt to regulate these special (over the counter) OCD "swap" derivatives would kneecap the Fed and all the TBTF bank monopolies abilities to fix market and bond prices by insider trading "off their books" all day long, every day and twice on holidays.

If they even open the door a quarter inch to the CFTC to regulate OCD Swaps they will have the full vengeance of the financial industry gunning them down.

https://en.wikipedia.org/wiki/Commodity_Futures_Trading_Commission#Over-the-counter_derivatives

The problem with Bitcoin is the idiotic market trading exchange nonsense, which might create an opening for them to allow the CFTC to regulate this one form of a swap precisely because it is publicly "traded" in a stupid market.

A bitcoin is an Over the Counter (OTC) Credit-Swap (funded Credit Swap or fCS).

To you, it is only worth what the last guy sold it to you for and made off with. You funded "his" credit for it and the next guy (is assumed to be willing to) fund yours!

http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000

The reason Bitcoins/Altcoin tokens are legal is because they are OTC derivatives. Otherwise they would be a Ponzi scheme.

https://bitcointalk.org/index.php?topic=175708.msg1832923#msg1832923


The markets for them are not "exchanges", they are simply marketplaces.

Stop pretending that BTC is a national socialist "currency" backed by a national socialist economy, it is not.

Isn't being extorted at gunpoint by the minions of a Tory-Bilderberg gang of standing-Pentagon communist Trotskyites to force you to pay them a rent on your private property so that they can pollute the planet with nuclear thermal pollution, toxic nuclear wastes and depleted uranium weapons of mass destruction a form of injury?

Or do you have to wait until they assault your home in the middle of the night, tie your family in chains and bundle you off to a "re-education" camp first?

Legally, Mt Gox is a (deregulated) Over The Counter Derivative-Token Marketplace, it cannot be rightly regarded as a (regulated) "trading exchange".

The case-law flaw here is in falsely mis-identifying a Bitcoin Over the Counter Credit-Swap Derivative token as the "currency" of a national-socialist "economy".

So the second paragraph must (lawfully) read:

"Mt. Gox acts as a digital Over the Counter Credit Swap Derivative Token trading marketplace where customers open accounts and fund their respective accounts with fiat currency, or with Over the Counter Credit Swap Derivative Tokens they have obtained elsewhere, which they may trade there, primarily to obtain Over the Counter Credit Swap Derivative Tokens through the Mt. Gox derivative token trading marketplace; the Over the Counter Credit Swap Derivative Token is known as a bitcoin. Fiat currency simply refers to any nation's currency that a government has declared to be it's nation's current legal tender (money). The un-regulatable, international Over the Counter Derivative Token trading marketplace is bidirectional and allows customers to also occasionally sell their bitcoins to others for their other respective fiat currencies, and then withdraw whatever new purchasers' funds they may so later deserve through the Mt Gox marketplace. The purchasing and auctioning of bitcoins incurs a floating rate auction fee charged by Mt. Gox and is determined by the customer's aggregate amount of bitcoin derivative tokens traded on a monthly basis."


A Bitcoin is not a nation's national-socialist economic legal tender, money nor an international exchange "currency" of any trading nation. It is merely the derivative-token of a (most recent) Credit Swap transaction that has occurred in it's past. It has no exchange-value until or unless it can be resold for some new value to a new owner, again.

So, where Mt Gox may be in trouble with the Tory-Bilderberg ZioNazi Waffen-SS Wehrmacht is in exchanging the currencies of foreign buyers into Private Federal Reserve Printing Company "They Owe Us" notes to pay American sellers, since "American" citizens of the Union of ZioNazi Socialist Republics (U.Z.S.R) do not buy any "currency" there, though they can sell things (that cannot be easily detected, confiscated, smelled nor felt through their underwear) there and may, possibly obtain "exchanged currency" value that may have originated from other foreign buyers, from the marketplace, arising from the resale of them by that marketplace.

Of course one would have to prove that a non-American terrorist-customer (who was not hiding in his wife's underwear at an airport) purchased a particular bitcoin derivative DIRECTLY from an American ZioNazi and his foreign terrorist-currency was then exchanged by Mt Gox into (U.Z.S.R.) ZioNazi currency for that specific foreign terrorist. But once an American ZioNazi places a "sell order" that derivative is technically sold to the "intermediary trading marketplace" who then collect from the purchaser, foreign terrorist currency-funds necessary to compensate the ZioNazi seller that they bought it from, in ZioNazi "currency". There is no way to prove nor disprove that, or if, other "American" ZioNazi's are not the buyers, from whence the ZioNazi funds came. One cannot also disprove that Mt Gox may also occasionally have to go to a "currency exchange" itself to pay it's bills to it's clients where, as or when needed, in national socialist fiat "currencies" appropriate to them.


A Bitcoin functions exactly in much the same way as a "traded" Credit Default Swap (CDS). You fund it's former owner's "loss" (defaulted costs) on it now, and the next owner (you trade it with or back to,) hopefully, then funds yours, later. It neither has, contains nor is backed by any currency-exchange value other than faith. It is legally the same as all other exchange traded derivatives which are specifically deregulated to favor the banksters who invented and use them (like loss-ping-pong instruments) to fix stock and bond "market prices" with.  The Bitcoin is however technically not about a "defaulted credit" it is about a "previously funded credit", but, that "credit" has no certain value! Therefore it is a (previously)  Funded Credit Swap Derivative. It's theoretical or imagined future "exchange value" exists solely in the faith of the mind of it's holder, and it is backed as a "currency" by no national socialist economic trading nation.

The Mt Gox Marketplace only facilitates the buying and selling of Digital Over The Counter Credit Swap Derivative Tokens, known as "Bitcoins" and or "Altcoins" etc. They do not directly or indirectly convert or exchange any "currencies", as any matter of the implicit character of their business, although thy may accept currencies that they must later exchange elsewhere, to settle the respective accounts of their clients.

A Bitcoin is a commercial "over the counter (OTC) derivative" of the most recent-past credit swap value and future possible credit swap values of itself and it's network, which are only (at best) completely deregulated Commercial Resources, and neither "commodity futures" nor "securities" as per the CFMA of 2000. nor a legal tender "money" or a "currency" of the current trade balance export valuation of any national economy.

http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000


Either you are with The Constitution or you are with The Terrorists, Mr Bush!

There is an awful lot of history behind how the Tory-Bilderberg Trotskyite-communist Rothschild-surrogate ex-gold Pharaohs ended up reconquering America in  1913 after it's failed Revolution and Civil War but it all goes back to the mistake of putting the stupid words gold and silver into the Constitution (even though they are irrelevant there) and the common misperception of idiots who confuse a "wealth" of some sort of a silly metal commodity with a "money" that is an economies' token of it's people's Prime Resource. After their black slaves were freed

According to the Constitution however, it is mandatory that the US Congress and it's Treasury ALONE be the sole owners, profiters from and operators of it's money and borrowers of it's debts.


Thus (above) the US Mint alone under the supervision of the Congress's Treasurer/Treasury must be the sole issuer and renter of it's money and the sole lawful authority as to the setting of the value of whatever it is that they decide to "coin".


The criminally private, for private profit Federal Reserve Printing Company is totally and completely corrupt and illegal.


One might see some sort of a chicken and an egg problem, and they would be totally correct, as the power to print money from nothing is the power to buy politicians to let you get away with doing so, and also to force them to do everything and anything else you wish them to. Only a public organization like the US Treasury should be doing this, and profiting from the lending of new money for the taxpayers.

Even though reconstruction was ended Ford was booming and the country was prosperous, the criminal Tory-traitor Wilson put the US into receivership to the Tory-Bilderberg Rothschild Surrogates in 1913 making all Americans white and black, bond slaves to the slave traders of Jekyll Island once again.

In the Tory-Bilderberg Trotskyite thermonuclear Pentagon-Communist's  Federal Reserve Printing Company empire of the Union of ZioNazi Socialist Republics all land ALREADY IS "public" (FedResCo) property, this is why you must pay tax-rent to the imperial Federal Reserve Printing Company to hold onto it.  Otherwise one of their state or city corporations must evict you and repossesses it for them.

Not only that there is now the precedent of "Eminent Domain" which permits local corporate-soviets to appropriate land not only for "community" Trotskyite FedResCo projects but the fancy private projects of their elite-Menshevik minions as well.

Permanent war is the old fashioned term for "communism", that's why they used to call normal, temporary wars "acting in the common defence". Of course none of the preemptive permanent offensive wars of the ZioNazi Communists are "defensive" any more. This is why once-heroic warriors have now become commodity "war fighters" since that mundane job is now a permanent standing commodity export.

Nature intended things that burn to be burnt. A cloud also introduces a libido (white reflectivity) that repels solar heat during the day. Global warming (night and day) is about unnaturally added excess-heat from our (soullessly bestial destructive-anthropogenic) destructive perversions of nature here. (like the destructive and eternally toxic waste-byproducts of pointless thermonuclear-communist Bohemian Grove terrorism)

If fail to see how anyone could excuse a thousand new honorless-war-communist-made "suns" on the surface of our world as anything "natural".

In fact thermonuclear communism is the #1 cause of global warming, not fossil fuel burning that produces CO₂ that plants need to breathe to produce oxygen for us. Nuclear reactors dissipate millions of terawatts of completely wasted heat as direct thermal pollution into waterways and seas as do their dangerous eternally-decaying new, used and spent fuel rods. In fact if stored nuclear fuel bundles were to be "racked" within simple, foolproof electrical thermocouples they alone would function as their own nuclear batteries to uninterruptedly power their own stupid water pumps to pollute the earth with the remainder of their wasted heat. This would make external batteries, power or generators to "cool fuel pools" unnecessary and redundant and would have prevented Fukushima. (and a thousand more of them to come)

But, of course, Tory-Trotskyite Federal Reserve private boardroom-socialist communism, dictates that their handsomely-profiting elite foxes always "regulate" our hen-houses.... (while we all face and pay them dearly for the consequences)

All "government" is "socialism". The two words mean the same thing. The more of one you have, the more of the other you end up with.

1: Preserve, protect and defend the Constitution without any reservation nor purpose of evasion.

2: To hear and vet all proposals to make, repeal, amend and enforce valid laws and declarations and to provide for the best conduct of the duties that they require.

A so-called base-inflationary publicly owned and operated monetary token system is an absolute and critical necessity to all and any economic growth. It also provides the new excess liquidity (in accompaniment to exportable workforce productivity) necessary to loan it to new enterprises or to finance public projects without taxation. Then private lenders may also participate through their invested savings as well.

A privately owned for private profit inflationary, private monetary token debt-enslavement system requires regressive boardroom-socialist public taxation to pay off the enslaving lenders, and enslaves all new entrepreneurs and the state as well, to the fiat dictates of the secret insider trading monopolist boardroom-socialist (FED) high-preisthood tyrants who own, operate and monopolize all. Other private lenders cannot participate in lending because their costs of lending cannot compete with the monopoly counterfeiters.

A deflationary currency (like limited gold, platinum, palladium or antiques, fine arts or other rarity "Medium of Savings") when stupidly abused as a Medium of work-Resource Exchange "currency" that constantly becomes ever-rarer and ever-more valuable with any and all growth is a totalitarian Austrian fascist recipe for and sentence to eternal abject bonded debt enslavement to elite "winning" monopolist gold-pharaohs, ad infinatum.

Higher usury-interest coupled with reserve (once gold-receipt) counterfeiting are actually the number one causes of inflation (devaluation or demeaning) of the Medium of Work-Resource Exchange "currency" (money). By this I mean undue profiteering (excess inflation) in excess of the goodly need of an economy and it's "currency" to "grow properly" (inflate properly and naturally in a well-regulated manner) based upon the ever-increasing (enlarging)  exportable value growths of the increasing values of all of the fruits of all it's also-growing workers (EP Export-Product) labours.

The reason the crime of interest usury originated was so that fraudulent gold-smiths could lend out counterfeited gold-reserve receipts, (first coin-tokens then paper receipt-notes) to people who had no gold deposited with them. They knew people didn't want the bother of the damned stuff and would never come back to claim any unless they were moving away, so figured why not rent out phoney ones as well as good ones? Their unfairly criminal (and costless) competition in the lending business inflated rates of usury, since real lenders could not accept risks reserve-counterfeithers could, and consolidating counterfeiters ended up repossessing everything..

The security of the Bitchain system makes this fraud impossible with a Bitcoin Funded Credit Swap OTC derivative-coin. Smiths cannot duplicate Bitcoin OTC derivatives to lend them out in a "reserve loan-counterfeiting" fashion. (unless idiot morons are allowed to mint or ever stupidly agree to accept physical Bitcoins that cannot be "confirmed") The Tory "Federal Reserve Printing Company" or "WB-IMF" Trotskyite reserve-counterfeithers could, however, "intervene" (price-fix or crash) the Bitcoin "penny stock" market, but if we always out-maneuver them to price the BTC at a mid-point between USD and Euro they would always lose and we all should always profit.

The fact that BTC are traded on hundreds of discreet markets also foils them, although dangerous preeminence of the vulnerable Mt Gox monopoly is a serious global-threat to our currencies safety.

In 48 BC the Pontifex Maximus, Julius Caesar outlawed private coin-smithing/usury and minted the first publicly owned for public profit public coin-currency, which could only be rented from the Republic. With it's profits domestic taxation became obsolete, and he was able to complete vast expensive public projects. As with Lincoln and JFK, this was why he was assassinated.

Give this person a fine Cuban cigar wrapped on the thighs of young virgins!

When one adopts all of the identical and self-same, secret and corrupt tools of a corrupted and established-fascist tyranny under the guise of "fighting it" one has already lost the war before it's first battle. After Truman's surrender to Churchill at Potsdam, then Senator LBJ with his re-introduced NDA (DRO '48) capitulated America to London, plunged America into Trotskyite Pentagon-communist tyranny and guaranteed the West's certain, eventual Cold War defeat.

All "government" is "socialism" the two words mean the same thing. The bigger one is, the bigger is the other. The former economy of the former "USA" (once-Republic of Liberty) will not die like that of it's Spanish or Grecian client states, because it has become subsumed to a far greater global imperial-fascist (Tory-Menshevik City of London) bankstering tyranny.

Nobody "won" the Cold War, the East simply acknowledged the insanely demented fanatical futility of it all, first.

The (Tory-Trotskyite) Union of ZioNazi Socialist Republics (UZSR) is now doomed to collapse exactly like it's imperial-fascist twin, the former USSR did. The same way the Tory-Fascist "empires" of England, Rome and Egypt did, when a corrupt elite high-preisthood of a single, totalitarian, established, soullessly-bestial corporate-socialist religionism pervert it's power, sap the strength of all it's people and destroy competitivity in their envious, greedy and violent pursuit of some pie-in-the-sky theocratic dogmatism, based upon "special rights" that they foolishly believe that they alone are "worthy" of .

Communism is simply the modern term for "permanent war". It matters not whether a Tory Caesaropapist-fascist Menshevik pledges his idolatry to a tribal mafia warlord, a Pope, a Mohammed, an ex-prince named thut-Moses, a Marx, a Bolshevik named Lenin, a tin-pot N Korean fascist or the Chairman of a private boardroom-socialist Federal Reserve Printing Company.

 There can be no such thing as a "faith" without the FREEDOM to choose, or not to choose one!

This "Final Battle" is not about the nature of the "money" that represents all of the good fruits of all of our constructive human labours, it's about just who "owns" it, and by extension, them.

It's about the corrupt crimes, frauds, debts and hatreds that represent the vile, all destructive perversion and all repulsive enslavement of us all by those all-divisive fanatics who claim to own us, through their instrumentations of it.


(A congress shall attempt to make no "law" establishing any brand of any sort of a single or combined flavour of totalitarian religious-monopolism)

There are more of us than there is of them