Holder: Bitcoin raises law enforcement concerns

[pdawg]

Attorney General Eric Holder told lawmakers that Bitcoin and other virtual currencies pose a challenge for law enforcement agencies, because they can be used to "conceal illegal activity."

http://money.cnn.com/2014/04/08/technology/bitcoin-holder/

Holder told lawmakers that the Justice Department is "committed to innovating alongside this new technology in order to ensure our investigations are not impeded by any improvement in criminals' ability to move funds anonymously."

Comments like that just tells me the TPTB are going to allow BTC to be part of our economy, for selfish reasons of course *cough* wall st. *cough*.

[BittBurger]

Ok.

1)  Briefcase full of cash:   100% undocumented 100% untrackable.

2)  Bitcoins:  100% documented 100% publicly trackable for the whole world to see.

Why aren't law enforcement folks grasping this?

Foundational definition of Bitcoin:   Worlds first publicly viewable ledger.

Finally bringing accountability to financial transactions.

Just because it doesn't have a first and last name slapped on every movement of coins, doesn't mean its anonymous.

-B-

[5thStreetResearch]

He must not know that bitcoin isn't anonymous at all.  Most people that dont know much about bitcoin have this misconception.  

[jc01480]

Holder poses a challenge for Americans. 

[Bit_Happy]

He didn't mention protecting our children? 

[joshv06]

He didn't mention protecting our children? 

Think about the children..

[turio]

bitcoin will never die 

[acoindr]

Holder told lawmakers that the Justice Department is "committed to innovating alongside this new technology in order to ensure our investigations are not impeded by any improvement in criminals' ability to move funds anonymously."

Right. Criminals and terrorists just use banks...

http://www.bloomberg.com/news/2012-07-16/hsbc-aided-money-laundering-by-iran-drug-cartels-probe-shows.html

HSBC Holdings Plc (HSBA)’s head of group compliance, David Bagley, told a Senate hearing he will step down amid claims the bank gave terrorists, drug cartels and criminals access to the U.S. financial system by failing to guard against money laundering.

[atp1916]

Every time i watch COPS and i see the murder-for-hire episodes, it's always dollars the fake hitmen are willing to take.  WTB episode where bitcoins get offered.

More seriously, Holder's statement was 100% political because he is a politician in LEO clothes.  The LE community knows full well about the transparency of the ledger system.  All it is is that they just aren't willing to put their necks out that far.  They stick to the official line just like the military community. If it ain't the accepted mantra, it aint gonna fly.

Only time, education, and the evolution of the Bitcoin market ecosystem is needed to win this generation (and the next) over.

Holder poses a challenge for Americans.  

+1 to that.  

[franky1]

law enforcement concerns:

officers have to get off their asses and do some police work, they were hoping to get rid of paper money and track everyone transactions, to be able to spend more time in the office eating doughnuts.. now they have to go back to plan A and be on the streets looking for criminals.

aww bless,

bitcoin doesnt make tracking criminals impossible, law enforcement just need to follow the trail of drugs/weapons/kidnappers instead of credit card transactions..