Bitcoin is a lot like egold. Egold was shutdown after having many HYIPs/Ponzis.

[Coincomm]

Pirate might be an agent for a larger organization with a goal to destabilize the Bitcoin community and give it a bad name.

[JupeB]

Yeah, except that Bitcoin cannot be shut down because it is decentralized - big difference from eGold.

[cypherdoc]

Pirate might be an agent for a larger organization with a goal to destabilize the Bitcoin community and give it a bad name.

actually you sound like that agent.

[hamdi]

might be, but you see clear how the world wants BTC to be worth US$10

[FlipPro]

Yeah, except that Bitcoin cannot be shut down because it is decentralized - big difference from eGold.

[proudhon]

Yeah, except that Bitcoin cannot be shut down because it is decentralized - big difference from eGold.

True.  But lots of people can stop using and those that aren't yet can be motivated to avoid it if it's continually associated with scams and is a pain in the ass to use.

[FlipPro]

Yeah, except that Bitcoin cannot be shut down because it is decentralized - big difference from eGold.

True.  But lots of people can stop using and those that aren't yet can be motivated to avoid it if it's continually associated with scams and is a pain in the ass to use.

Ponzi schemes should not effect any true Bitcoin users. If you are in it for the Ponzis, and you loose out on a PONZI, then you have no valid argument. You got into these type of "investments" knowing the risks involved. If you are a true BTC holder the ponzis should not effect you.

[Soros Shorts]

Bitcoin is a lot like egold. Egold was shutdown after having many HYIPs/Ponzis.

That is not true. Please see the following link:

http://www.egoldclaimsprocess.com/FrequentlyAskedQuestions.aspx

It was primarily shutdown for suspected unlicensed transmission of money.

Why did the government get involved in E-Gold, Ltd. (E-Gold)?

Answer:

In the summer of 2008, E-Gold, Ltd. (E-Gold) pleaded guilty in United States v. E-Gold, Ltd. et al, Criminal Number 07-109, in the United States District Court in the District of Columbia. E-Gold was operating as an unlicensed money transmitter business in violation of federal criminal law. This plea led to the seizure of E-Gold accounts because the accounts were either involved in the unlicensed money transmitter business or particular account holders were alleged to have been involved in certain illegal activities.

If you have been following the case closely, you will know that the "certain illegal activities" referred to suspected money laundering and child porn. HYIP was rarely mentioned.

However, after seizing the accounts and examininng each one they even admitted that it turned out that most of the e-gold was legit.

How did the government recover money from E-Gold?

Answer:After E-Gold pleaded guilty in its criminal case, E-Gold contacted the United States Attorney’s Office in Baltimore, MD and offered to assist the government in recovering proceeds of criminal activity and in returning the value of certain accounts to qualified account holders.  E-Gold and the United States Attorney’s Office then agreed to work together to resolve these issues.  As a result, the United States Attorney’s Office applied for and obtained warrants from the court to seize funds from the sale of e-metal held in E-Gold accounts.  Some of the e-metal in E-Gold accounts appears to the Government to have been criminally derived.  However, the majority of the e-metal was owned by innocent account holders.

I have a large sum of legit funds tied up in this mess, and I am still waiting to be contacted about my claim. Never again.

[cypherdoc]

yet another thread where the OP makes a FUD statement and then disappears unwilling to defend his position b/c he knows he can't.

[bitcoinBull]

E-gold was more like Liberty Reserve. Liberty Reserve is now down for maintenance after reports from people getting locked out of their high-value accounts.

This will be an interesting few weeks. Here's what I hope to see:

LR will be gone.
Pirate will be gone.
Bitcoin will remain standing.

[Elwar]

Pirate might be an agent for a larger organization with a goal to destabilize the Bitcoin community and give it a bad name.

actually you sound like that agent.

Says the agent.

[Gabi]

Let's hope they don't shutdown bitcoin 

[kwukduck]

i herd rumors the govt is going to shut down and seize all bitcoin servers from the owners next month!

[Endgame]

Bitcoin is an impressive enough innovation that I do not think governments would try and shut it down unless it became a hotbed of criminal activity. Basically the legitimate uses need to always outweigh the illegitimate uses. I do not think bitcoin is in any danger of being 'shut down' at the moment, because the illegitimate uses are the exception rather than the rule.

[justusranvier]

Bitcoin is an impressive enough innovation that I do not think governments would try and shut it down unless it became a hotbed of criminal activity.

Your understanding of the goals and motivations of the people which make up governments appears to be based on a fairy tale.

As soon as Bitcoin grows to the point at which it can support large scale money laundering it will be useful for moving kickbacks, bribes and misappropriated funds, at which point politicians and bureaucrats will enthuastically embrace it.

[Piper67]

i herd rumors the govt is going to shut down and seize all bitcoin servers from the owners next month!

That's unnecessary, all they have to do is raid the Bitcoin offices and shut down their building. Bitcoin is history... 

[waspoza]

Bitcoin is an impressive enough innovation that I do not think governments would try and shut it down unless it became a hotbed of criminal activity.

Your understanding of the goals and motivations of the people which make up governments appears to be based on a fairy tale.

As soon as Bitcoin grows to the point at which it can support large scale money laundering it will be useful for moving kickbacks, bribes and misappropriated funds, at which point politicians and bureaucrats will enthuastically embrace it.

+1

[RaTTuS]

i herd rumors the govt is going to shut down and seize all bitcoin servers from the owners next month!

That's unnecessary, all they have to do is raid the Bitcoin offices and shut down their building. Bitcoin is history... 

don't be silly
all you have to do is advertise a 10% interest rate and get people to invest in it and then vanish
[this is after you have stolen as much as you can from your previous hedging fund and trading station]

the other way is to just switch the internet off and then it will stop.
dead easy

[Le Happy Merchant]

Let's hope they don't shutdown bitcoin 

who is 'they' ?

if 'they' come for my coins I will be the 'they' that stops them.

[bbit]

omg!