Look at the Price and Facts People

[Findeton]

I am think he want to say, that there is will no buyers in other countries.
They will start another chain, independent from bitcoin chain. Like you now USD and EUR. Something like that.
And this can happen, by the way.

I'm european, I have bitcoins. This is a free market: if mtgox doesn't allow you to buy them another exchange will do. I'm also able to buy anything from america (including assets) from europe.

You people are talking crazy.

[clickbangdone]

I am think he want to say, that there is will no buyers in other countries.
They will start another chain, independent from bitcoin chain. Like you now USD and EUR. Something like that.
And this can happen, by the way.

I'm european, I have bitcoins. This is a free market: if mtgox doesn't allow you to buy them another exchange will do. I'm also able to buy anything from america (including assets) from europe.

You people are talking crazy.

You don't get the point

When the US government has their hands in the bitcoin business I doubt global buyers will continue to buy.

Would you continue to buy bitcoins if the US Government was regulating them?

[DamienBlack]

There really isn't a good way to regulate them... that's the point. How would you suggest they regulate them?

[jhansen858]

Bit coins are just as traceable as any currency with a serial number on it, and even more so then cash.  government involvement is actually a good thing for bitcoins as it legitimises it, which would make people who are risk adverse and would otherwise steer clear of bitcoins, part of the community.   Would you rather the government fight it, just hurting the value for everyone?

Sorry for all you who thought anarchy was going to ensue... Rich people are rich for a reason, they know how to watch their money and get more money.  The cool thing here is that we as early adopters have a leg up on the old money in this case....

[Silverpike]

When the US government has their hands in the bitcoin business I doubt global buyers will continue to buy.

Would you continue to buy bitcoins if the US Government was regulating them?

If non-US countries know what they are doing, they won't give 2-shits about whether the US outlaws/regulates Bitcoin or not.  That does not diminsh it's value, however it may make a certain part of the world's population ineligible to use Bitcoins.

Besides, it's completely moot.  There's no way for the US government to block Bitcoins anyways; it's not technologically feasible.  The only thing they could do is outlaw it's use at point-of-sale stores, which they have some influence over already. 

[DamienBlack]

Sure you can trace them, from anonymous account to anonymous account. If I want, I'm sure I can store some bitcoins away where no one will ever find them or link them to me personally. And there isn't a way to stop me the way the system is currently designed.

[clickbangdone]

There really isn't a good way to regulate them... that's the point. How would you suggest they regulate them?

Look at the link to the video of the CBS News interview I posted earlier. The main exchange is already regulated and looks like bitcoin developers will cooperate with regulators.

See the price spike to $28+ that's called a blow off top.

The cats out of the bag the US Government has their hands all over this.

People will be trampling over themselves to get their cash out soon. The main exchange won't be able to handle the stampede which will perpetuate the crash.

Bottom line Bitcoin can't be what you thought it could period.

The main developers knew the the Government would need to be involved and hinted to such.

You knuckleheads just never bothered to listen. Now you get to pay the price for not paying attention.

[jhansen858]

They are not as anonymous as you think.

Think about it. You have to get them from somewhere...

a) you generated them (belong to a mining pool?)  Did they log your IP?, did you sign up with them and give them your email address?
b) you purchased them (with money from a bank account??)
c) you traded for them (on what site ebay? craigs list?  your cousin louie?)  ask your self where did he get them your only 1 hop away from him.
d) you spent them, which super node recorded the transactions first, was the CIA watching the logs of a vast majority of the nodes to see how the transactions unfolded.  Can they pinpoint your IP or geolocation from that?  What other information could they calculate from the transaction logs and how they played out?

Mathematically speaking, its probably very difficult to hide your true identity completely and possibly impossible to leak absolutely fucking 0 information about your self from any transactions that you do.

I do agree that it is possible to conduct anonymous transactions with bitcoin, however, I think that a vast majority of bitcoin transactions will be very much traceable ...



 

[Silverpike]

There really isn't a good way to regulate them... that's the point. How would you suggest they regulate them?

Look at the link to the video of the CBS News interview I posted earlier. The main exchange is already regulated and looks like bitcoin developers will cooperate with regulators.

What the hell are you talking about?

The "main exchange" is MtGox.  It's located in Japan, not the US, so the US cannot "regulate" it.  It is totally meaningless for Japan to "regulate" it as well, since regulation of Bitcoin is technologically impossible.  What are they going to do, pass laws against math?     Furthermore, there is nothing that Jeff Garzik needs to do regarding "the government".  Writing code is not a crime (yet), nothing he does falls under anything resembling US securities laws.

You knuckleheads just never bothered to listen. Now you get to pay the price for not paying attention.

You are an idiot, and you clearly have no idea what you are talking about whatsoever.

[Findeton]

Look at the link to the video of the CBS News interview I posted earlier. The main exchange is already regulated and looks like bitcoin developers will cooperate with regulators.

So the biggest bitcoin exchange is legal. Why is that a bad thing? It actually is a very good thing.

You didn't really think you could avoid paying taxes on dollar profits, did you? If you don't want to pay taxes, don't buy dollars with your bitcoins! Let your bitcoins rest or sell them for goods not for dollars.

[clickbangdone]

There really isn't a good way to regulate them... that's the point. How would you suggest they regulate them?

Look at the link to the video of the CBS News interview I posted earlier. The main exchange is already regulated and looks like bitcoin developers will cooperate with regulators.

What the hell are you talking about?

The "main exchange" is MtGox.  It's located in Japan, not the US, so the US cannot "regulate" it.  It is totally meaningless for Japan to "regulate" it as well, since regulation of Bitcoin is technologically impossible.  What are they going to do, pass laws against math?     Furthermore, there is nothing that Jeff Garzik needs to do regarding "the government".  Writing code is not a crime (yet), nothing he does falls under anything resembling US securities laws.

You knuckleheads just never bothered to listen. Now you get to pay the price for not paying attention.

You are an idiot, and you clearly have no idea what you are talking about whatsoever.

It is regulated. Every transaction you make at MtGox into a government currency is being tracked and recorded. Why do you think they have withdraw limits? They are a money changing business. The US government could seize their funds in a heartbeat. What good are your bitcoins if you can't easily trade them for cash.

Go smoke some more weed

 

[hoo2jalu]

...Every transaction you make at MtGox into a government currency is being tracked and recorded. Why do you think they have withdraw limits? They are a money changing business. The US government could seize their funds in a heartbeat. What good are your bitcoins if you can't easily trade them for cash.

Go smoke some more weed

I can buy some of that with bitcoin. Mmmm, screw euros and dollars and all that B.S.!

[Findeton]

It is regulated. Every transaction you make at MtGox into a government currency is being tracked and recorded. Why do you think they have withdraw limits? They are a money changing business. The US government could seize their funds in a heartbeat. What good are your bitcoins if you can't easily trade them for cash.

They'd only do that for specific reasons, for example to stop tax evading.

Go smoke some more weed

Go smoke some more dollars  

[AaronM]

"Online currency caches, such as PayPal, are beginning to accept the online coinage." What?

[AaronM]

[...]What good are your bitcoins if you can't easily trade them for cash.

I think you missed the point of Bitcoin entirely...

Go smoke some more weed

'k.

[clickbangdone]

Look at the link to the video of the CBS News interview I posted earlier. The main exchange is already regulated and looks like bitcoin developers will cooperate with regulators.

So the biggest bitcoin exchange is legal. Why is that a bad thing? It actually is a very good thing.

You didn't really think you could avoid paying taxes on dollar profits, did you? If you don't want to pay taxes, don't buy dollars with your bitcoins! Let your bitcoins rest or sell them for goods not for dollars.

I'm not saying it's a bad thing.

What I'm saying is a large portion of the people on this forum believe the value of bitcoin is it's ability to not be regulated or controlled by a government. Once they figure out they are wrong what's going to happen to the value of bitcoins?

I say it becomes a paypal.
Whats a paypal worth?
Depends what currency you put into your account
 

[kstepyra]

Because it's paypal. Bitcoin is opposite to it. It's not controlled by any government. usa can block Bitcoins but other 200+ countries will still accept it. Believe me - if a lot of people join Bitcoin in USA there will be nice fight on the streets if it will be disabled/blocked in their country.

Ofc Bitcoin have some central points - like irc, main places of exchange(mtgox) and for example website is posted on some web server with specific ip(but also on SF), but remember - irc can be replaced, server can be replaced(or even software can be distributed via p2p in torrents for example) and mtgox is in Japan, if he disappear then price will drop, but bitcoin will not disappear : )

Bitcoin can't be controlled just like that.  They would need to close mtgox, put gavin in jail and close half of the internet. GL with that.

Time will show us facts.


Anyway -
It's a revolution. Go bitcoins!

btw. - epic:

Go smoke some more dollars 

http://i14.ebayimg.com/03/i/001/33/25/0b2f_1.JPG

[marcus_of_augustus]

Look at the link to the video of the CBS News interview I posted earlier. The main exchange is already regulated and looks like bitcoin developers will cooperate with regulators.

So the biggest bitcoin exchange is legal. Why is that a bad thing? It actually is a very good thing.

You didn't really think you could avoid paying taxes on dollar profits, did you? If you don't want to pay taxes, don't buy dollars with your bitcoins! Let your bitcoins rest or sell them for goods not for dollars.

I'm not saying it's a bad thing.

What I'm saying is a large portion of the people on this forum believe the value of bitcoin is it's ability to not be regulated or controlled by a government. Once they figure out they are wrong what's going to happen to the value of bitcoins?

I say it becomes a paypal.
Whats a paypal worth?
Depends what currency you put into your account
 

Pro-gubmint troll wants to buy in cheap eh?

Two words.

Blind signing. We're going feral babe.

[Jack of Diamonds]

random things

Why is it that every time there is a publiclity spike or a price spike, bitter fuckwads like you who never owned any BTC and are too poor to buy any mining equipment, come preaching on the forums about how it's all going to crash and we're all going to die?

Hint: It's happened dozens of times. You're not the first. And they always disappear/vanish after a few weeks.

[stakhanov]

Listen to what Garzik said on the CBS interview. It doesn't sound like bitcoins will be as uncontrolled as most people on the forum thought it would.........The authorities will know who you are , governments will control it and oversee it.

It really is the only way for bitcoins to survive but to survive as what?

That would make bitcoin an awesome decentralized alternative to paypal, with cheaper fees and available everywhere. That's more than enough to drive the price of bitcoins over a thousand dollars each.