Senator Charles Schumer Pushes to Shut Down Online Drug Marketplace

[alkor]

If it wasn't for Silk Road, they would have found another excuse to clamp down on Bitcoin. The true reason as to why they will be doing it is the threat that Bitcoin presents to the government monopoly on the issue of money. But of course they will never say that - instead they will look for excuses to shut it down such as money laundering, child pornography, and all kinds of other outrageous things that they will have no trouble convincing the general population to accept.

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[n0m4d]

I will to do what I can to help the police catch scammers and crooks who want to steal from people.  The police might use those same tools and techniques to help catch people who use bitcoin to pay for drugs; I can't stop them from doing that.

Maybe it's too Libertarian Hipster of me, but man, I don't like the idea of giving succor to the guy with the stick.

Why help law enforcement when you could help the community do its own policing?

I would rather the market solve this, than the BTC community have its own Jose Guerena.

[Anonymous]

Gavin has to be a conforming, tax-paying adult for the sake of the project. Leave him be.

[Terpie]

Gavin has to be a conforming, tax-paying adult for the sake of the project. Leave him be.

Agreed. For now, we must get as large as possible as fast as possible. Gavin being open, honest, and forthcoming while he steers the narrative will help to delay any government intervention. Our size is our strength, and I'm not convinced we're big enough at present to survive the efforts of the world's largest superpower.

[dissipate]

Gavin has to be a conforming, tax-paying adult for the sake of the project. Leave him be.

Gavin is a figurehead at this point. However, if he can placate the terrorcrats for awhile to allow the network to strengthen, then that's good.

[hazek]

I will to do what I can to help the police catch scammers and crooks who want to steal from people.  The police might use those same tools and techniques to help catch people who use bitcoin to pay for drugs; I can't stop them from doing that.

I'm just wondering does this include any sort of modification to the client especially such which would give the LEAs special privileges?

[gene]

For immediate release.

Bitcoin enables small and medium sized business compete more effectively in today's fierce market.

Accepting bitcoin will give a business a considerable advantage when considering credit card fees and could well make the difference between a successful business and a failed one. This all translates to more jobs for Americans at a time when we need more innovation to rebuild our economy. These jobs, especially in the tech industries are crucial, and will spur on the development of new industries - including green technology, which America will require as it advances out of the current recession and into the future.

something to start with...

[ene]

Exactly right. I will to do what I can to help the police catch scammers and crooks who want to steal from people.  The police might use those same tools and techniques to help catch people who use bitcoin to pay for drugs; I can't stop them from doing that.

Are you saying you would want to work on "coin un-mixers", software that attempts to reduce the effectiveness of coin mixers? (Using statistical analyses on the public data of the block chain.)

[gigitrix]

Exactly right. I will to do what I can to help the police catch scammers and crooks who want to steal from people.  The police might use those same tools and techniques to help catch people who use bitcoin to pay for drugs; I can't stop them from doing that.

Are you saying you would want to work on "coin un-mixers", software that attempts to reduce the effectiveness of coin mixers? (Using statistical analyses on the public data of the block chain.)

He's not saying he wants to explicitly work in that field. He'll just explain bitcoin to interested parties (a good thing, since they get the real story, not the ZOMG think of the children version) and explain how the protocol works. If the FBI decided to use their knowledge of bitcoin from this to make such a "coin un-mixer" then that isn't Gavin's fault: he merely gave the gift of knowledge, much as many of you forum posters did to everyone here who came in asking questions and needing help understanding bitcoin.

[Anonymous]

Haha coin unmixers. That's funny.

[minerX]

WAIT.... Can I buy slaves??  Me want.

[kokjo]

Exactly right. I will to do what I can to help the police catch scammers and crooks who want to steal from people.  The police might use those same tools and techniques to help catch people who use bitcoin to pay for drugs; I can't stop them from doing that.

Are you saying you would want to work on "coin un-mixers", software that attempts to reduce the effectiveness of coin mixers? (Using statistical analyses on the public data of the block chain.)

it could me done by mixing a large amount of btc in the mixer, so others will mix to your btc, insted of anonymous ones

[xf2_org]

I know it dismays a lot of hardcore crypto-anarchists on this forum, but I am a happy, law abiding, tax paying US citizen  And I think bitcoin's best path to success will be to work within existing government regulations.

The vast majority of businesses we want accepting bitcoins are law-abiding businesses, as are the vast majority of people in the world.

If you believe that bitcoin is monetary freedom, as I do, then you don't want to self-select yourself away from the law-abiding world.  I want to spread bitcoin to as many people as possible... not "as many crypto-anarchists as possible"  

Sure, there will be setbacks from entrenched interests, but the best way to fight that is to be positive and help build the bitcoin economy.  Soon, the entrenched interests will be joining our economy.

[Anonymous]

And I think bitcoin's best path to success will be to work within existing government regulations.

[kokjo]

I know it dismays a lot of hardcore crypto-anarchists on this forum, but I am a happy, law abiding, tax paying US citizen  And I think bitcoin's best path to success will be to work within existing government regulations.

The vast majority of businesses we want accepting bitcoins are law-abiding businesses, as are the vast majority of people in the world.

If you believe that bitcoin is monetary freedom, as I do, then you don't want to self-select yourself away from the law-abiding world.  I want to spread bitcoin to as many people as possible... not "as many crypto-anarchists as possible"  

the problem rises when they change the law, or decides interpreted it in another way.
i would also be a tax paying citizen if i earnd something, but im not earning anything, im in school.

[N12]

Sure, there will be setbacks from entrenched interests, but the best way to fight that is to be positive and help build the bitcoin economy.  Soon, the entrenched interests will be joining our economy.

Please do explain how you could ever have a full Bitcoin economy (not relying on an exchange rate) if spending Bitcoins is only going to hurt financially.

Honestly, I view Bitcoin more as a future store of value (encrypted wallet copied everywhere, easily redeemable, easy to acquire etc.) than a currency, just like precious metals. It will probably only be adopted as a currency in areas where it has critical advantages (where you practically *need* Bitcoin), not just "low transaction fees fees, no chargebacks, no middlemen". Hence Silk Road.

I would love to be wrong though.

[Phenomenon]

I know it dismays a lot of hardcore crypto-anarchists on this forum, but I am a happy, law abiding, tax paying US citizen  And I think bitcoin's best path to success will be to work within existing government regulations.

The vast majority of businesses we want accepting bitcoins are law-abiding businesses, as are the vast majority of people in the world.

If you believe that bitcoin is monetary freedom, as I do, then you don't want to self-select yourself away from the law-abiding world.  I want to spread bitcoin to as many people as possible... not "as many crypto-anarchists as possible"  

Sure, there will be setbacks from entrenched interests, but the best way to fight that is to be positive and help build the bitcoin economy.  Soon, the entrenched interests will be joining our economy.

Perhaps you should consider using USD.  It is an interesting currency which makes it very easy to comply with all US government regulations.  After all bitcoin will most likely be deemed an illegal currency in the coming months and you wouldn't want to be involved in something like that.

[Anonymous]

I know it dismays a lot of hardcore crypto-anarchists on this forum, but I am a happy, law abiding, tax paying US citizen  And I think bitcoin's best path to success will be to work within existing government regulations.

The vast majority of businesses we want accepting bitcoins are law-abiding businesses, as are the vast majority of people in the world.

If you believe that bitcoin is monetary freedom, as I do, then you don't want to self-select yourself away from the law-abiding world.  I want to spread bitcoin to as many people as possible... not "as many crypto-anarchists as possible"  

Sure, there will be setbacks from entrenched interests, but the best way to fight that is to be positive and help build the bitcoin economy.  Soon, the entrenched interests will be joining our economy.

...you wouldn't want to be involved in something like that.

Oh, yes, we wouldn't want to displease our duly elected representatives who absolutely act in our will. We can't be insubordinate against the sacred system known as democratic law. May all reason forbid someone keep Bitcoins when they are deemed unacceptable by our government.

[Bit_Happy]

WAIT.... Can I buy slaves??  Me want.

You might need to visit a used Karma salesman.  

[Goldenmaw]

Reading this, and thinking about what this kind of rhetorical will set into motion, makes me wonder if the only way for bitcoin to survive and be exchanged in America, is for bitcoins themselves to fall under government regulation of some sort.