the end is near....

[hchc]

http://news.cnet.com/8301-13506_3-20070268-17/senators-target-bitcoin-currency-citing-drug-sales/?part=rss&subj=news&tag=2547-1_3-0-20

better cash in my btc quick  

[Jack of Diamonds]

Old news. Besides, bitcoin is not "based" in any country so it can't be shut down.

[digdugg67]

Hell they ought to outlaw the Fiat FRN's the US is using now. It buys way, way more drugs than Bitcoin ever will!

[1.21gigawatts]

senators can't even distinguish the difference between bitcoin and silk road

[AngelusWebDesign]

I like (read: not really) how they lump "silk road" and Bitcoin together, like they're partners in crime or something.

You could re-write that whole article, replacing "Bitcoin" with "US Dollars", and "digital" with "physical", and it would make just as much sense.

Bitcoin is just the currency these drug dealers are dealing in. They deal in any currency that has value!

That's like saying hammers are bad because a few people use them to bash people's skulls in.

Matthew

[cschmitz]

All you trolls who "register to post that bitcoin is about to die" please gtfo.

[kiwiasian]

So uh, how do they plan to shut down Bitcoin?

[Scientician!]

They can't shut down BTC.

They CAN shut down the excahnges, and will. Soon.

Anyone in the US who has cashed via Gox/Dwolla should be concerned also.

[stic.man]

i forgot that the US govt can arbitrarily shut down a company based in Japan.

Now Dwolla would be a bit more dicey...

[Scientician!]

i forgot that the US govt can arbitrarily shut down a company based in Japan.

Now Dwolla would be a bit more dicey...

You think the US govt. would have a hard time convincing any government that could be a potential host to an exchange to allow it to yank said exchange, especially an ally like Japan?

Gox could get darked with a couple of phone calls from the State Dept., I assure you.

[kokojie]

i forgot that the US govt can arbitrarily shut down a company based in Japan.

Now Dwolla would be a bit more dicey...

I think mtgox's bank account is US based, as it is required to obtain a dwolla account. Majority of their money has to be in the US bank account to facilitate dwolla withdrawals and deposits.

[JellyfishRancher]

It's funny that these guys act as if Silk Road is the ONLY underground blackmarket trading site. Before the publicity, SR only had ~2500 members! It's small potatoes compared to some of the other tor black markets.

[Scientician!]

i forgot that the US govt can arbitrarily shut down a company based in Japan.

Now Dwolla would be a bit more dicey...

Also, you think the NSA would have a hard time doing this covertly? Or would hesitate, at the Secret Service's behest, to behead any of these emerging exchanges?

They wouldn't, and they wouldn't, I assure you.


We need a TOR exchange. Now. and preferably with SSL/TLS at the exit nodes REQUIRED to transact.

[proudhon]

Buying and selling drugs and distributing copyrighted material should be illegal in the US, that way people will stop doing those things!

[LegitBit]

Buying and selling drugs and distributing copyrighted material should be illegal in the US, that way people will stop doing those things!

  lol

[LegitBit]

This is not going to shutdown bitcoin, a the act of buying/selling is illegal, not the currency or means used.

You haven't got anything to worry about unless you are participating in illegal activity.

[Scientician!]

This is not going to shutdown bitcoin, a the act of buying/selling is illegal, not the currency or means used.

You haven't got anything to worry about unless you are participating in illegal activity.

Converting BTC to USD will be declared illegal soon enough.

[TraderTimm]

We need a new category for these posts:

"Alarmist"

"Conspiracy"

"TrollLoLOLOLOL"

I mean, really - is there a purpose to this crap?

[kseistrup]

Buying and selling drugs and distributing copyrighted material should be illegal in the US, that way people will stop doing those things!

Obedience to the law is freedom:



War is peace, etc.

Cheers,

[rebuilder]

I'm starting to sound like a broken record, but Schumer et al. have *not* called for shutting Bitcoin down. I haven't read anything where they even call for investigating it. They want Silkroad taken down.