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Author Topic: What if possession of bitcoins or bitcoin software is outlawed?  (Read 1125 times)
EuSouBitcoin
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June 08, 2011, 01:12:58 PM
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Like many people, I'm trying to figure out how Bitcoin will playout. Will it be successful or not? First I think Bitcoin is NOT a digital currency. It's more of a digital asset or digital commodity. Calling it a digital currency immediately conjures up thoughts of counterfeiting and crackdowns by governments. Which brings me to my main question. What would happen if possession of bitcoins or bitcoin software is outlawed?

For the possession of bitcoins question, it is could be hard for a government to find a file on a computer hard drive, pen drive or on a cloud somewhere. But regarding bitcoin software, wouldn't it be relatively easy to find those computers that are running bitcoin software? I'm not an IT person but couldn't the govt track down the IP address, identify the user and then stop the software? Also, if bitcoin were outlawed, only outlaws would use bitcoin which would diminish its desirability to law-abiding citizens.
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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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rezin777
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June 08, 2011, 01:13:45 PM
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If Bitcoin is outlawed, only outlaws will use Bitcoin.
zer0
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June 08, 2011, 01:38:50 PM
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this is what tor is for
Sukrim
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June 08, 2011, 02:23:51 PM
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Please name a single piece of software that is illegal to own and use!

Even so called "hacking software" in Germany is not 100% illegal.

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TraderTimm
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June 08, 2011, 03:13:09 PM
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The same thing that 'happened' with bittorrent.

1. Announcement

2. Collective shrug

3. Business as usual


fortitudinem multis - catenum regit omnia
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June 08, 2011, 03:19:10 PM
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Please name a single piece of software that is illegal to own and use!

Even so called "hacking software" in Germany is not 100% illegal.

Gambling software, viruses, trojans, spyware, malware, registration crackers/key generators, etc.
PhoenixUK
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June 08, 2011, 03:31:06 PM
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The software itself is not illegal, it's the improper use of it that's against the law.

It's like owning a fast car is legal, but driving it at 200mph through city is a different story right?
Being a locksmith doesn't automatically make you a thief.
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