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Author Topic: Everyone understands that this wont last right?  (Read 8260 times)
Jdumond
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June 11, 2011, 01:27:50 AM
 #1

Like seriously, a peer regulated currency?

Going great now, but there was just a Chicago tribune article and now a review by a Yale JD candidate. Eventually this will get shut down because its was to easy to send money to people our government, your government, or any government does not want receiving money.

anyone heard of the patriot act?

Are we all just deciding to operate in this bliss?

I saw a post today with some dude running a server with a mask on, really this inspires confidence?

THERE IS NO WAY THIS WILL LAST SO HAVE FUN BUT KNOW THAT THE GOVERNMENT WILL CRUSH THIS.

lets have some fun but realize that this will end, government regulation or hack will end bitcoin.



Enjoy the ride


I dont like the guy. How many reasons do I have? alot.
How many reasons do I need? none.
I just dont like the guy.

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June 11, 2011, 01:29:30 AM
 #2

 Grin Grin Grin Grin Grin Grin Grin  Cheesy Cheesy Cheesy Cheesy  Shocked Shocked Shocked Shocked Shocked Shocked Shocked

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onesalt
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June 11, 2011, 01:31:32 AM
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Oh please, bitcoin doesn't have any oil, theres no way the US government will do anything other than crush it completely if it's used to fund terrorism.
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keep off the gras!!! that green stuff under feet?


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June 11, 2011, 01:37:10 AM
 #4

Like seriously, a peer regulated currency?

Going great now, but there was just a Chicago tribune article and now a review by a Yale JD candidate. Eventually this will get shut down because its was to easy to send money to people our government, your government, or any government does not want receiving money.

anyone heard of the patriot act?

Are we all just deciding to operate in this bliss?

I saw a post today with some dude running a server with a mask on, really this inspires confidence?

THERE IS NO WAY THIS WILL LAST SO HAVE FUN BUT KNOW THAT THE GOVERNMENT WILL CRUSH THIS.

lets have some fun but realize that this will end, government regulation or hack will end bitcoin.



Enjoy the ride






listen to what Govts are up to

http://www.youtube.com/watch?v=gTQex6Xzsfo

pls stop bending over in this form, you can't be thar devote!!!

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alxs
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June 11, 2011, 01:42:26 AM
 #5

had to register to comment on this one...

I think its going to be tricky as anything GOV does has to factor in linden dollars, facebook, etc.

A bigger concern is what gavin, jeff et al intend to do as per:
http://www.cbsnews.com/video/watch/?id=7368784n&tag=contentBody;housing

We are working with the government to make sure indeed the long arm of the government can reach Bitcoin[/b]
Jeff Garzik, Bitcoin Developer

Bitcoin and Agorism
http://rulingclass.wordpress.com/2011/06/09/bitcoin-and-agorism/
Jdumond
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June 11, 2011, 02:00:28 AM
 #6

alxs

Awesome links, I really enjoyed them both.

This is what has peaked my interest, very in-depth, and looking for feedback.

http://www.scribd.com/doc/55491049/Bitcoin-An-Innovative-Alternative-Digital-Currency-SSRN-id1817857

I dont like the guy. How many reasons do I have? alot.
How many reasons do I need? none.
I just dont like the guy.

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Jdumond
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June 11, 2011, 02:03:26 AM
 #7

Oh please, bitcoin doesn't have any oil, theres no way the US government will do anything other than crush it completely if it's used to fund terrorism.

which if its untraceable, and goes beyond our borders our politicians A wont understand and B exactly what you said is what they will think.


What makes you think they WONT think its funding terrorism?

I dont like the guy. How many reasons do I have? alot.
How many reasons do I need? none.
I just dont like the guy.

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Bazil
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June 11, 2011, 03:37:45 AM
 #8

I think governments will try to wreck bitcoins, but I think they will fail.  Trying to kill bitcoins would be like trying to hold jello down by hammering it with a nail.  They can't get rid of it just by throwing the developers away and seizing their assets like they did with eGold and the liberty dollar.  Since Bitcoin's value is in the coin in your computer and not in someone's store house of commodities.  Bitcoin already exists, and the number one man has already disappeared and no one knows who he was.

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Mike Caldwell
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June 11, 2011, 04:10:01 AM
 #9

Bitcoin already exists, and the number one man has already disappeared and no one knows who he was.

Maybe he quit to go start the Silk Road to help bait the media for the purpose of propping up the value of his million bitcoins, since he knows cryptocurrency is boring geek news that won't go past Slashdot but a mail order drug website using cryptocurrency will go viral.  And maybe he runs the Silk Road on a hacked server at some telemarketing outfit or donut factory somewhere, so that if and when the authorities finally find the actual server it's running on (after spending a billion taxpayer dollars to find it), the sorry underqualified guy who's job iswas system administrator won't have a clue it was ever there or how it got there, and that fact will be corroborated by a lifestyle that is clearly inconsistent with dealing drugs or owning a million bitcoins.  And Satoshi will be getting the last laugh on a beach or a cruise somewhere with a laptop and a towel and a copy of Tor, slowly selling BTC to sail the seven seas while checking his e-mail once upon a time, and codes his next big idea, like a decentralized crypto-based stock exchange anyone can list themselves on, so he can make NASDAQ and NYSE obsolete.  The end.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
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June 11, 2011, 04:11:29 AM
 #10

There is an easy way to effectively shut down bitcoin: go after the exchanges.  Shut down MtGox and a few other popular ones, or bury them in red tape and lawyers.  Imagine if the US government required MtGox to get photo ID from all users, or they pressured other banks and organisations to not accept MtGox withdrawls.  The Euro zone would follow soon afterwards.  Just closing a few exchanges would collapse the value of bitcoins as people see the dollars they pumped into the system may not necessarily be pumped out.  

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dgamer5000
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June 11, 2011, 05:53:07 AM
 #11

An article by the Chicago Tribune AND a review by a Yale graduate?

Shit is going down, man.
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June 11, 2011, 08:19:36 AM
 #12

THERE IS NO WAY THIS WILL LAST SO HAVE FUN BUT KNOW THAT THE GOVERNMENT WILL CRUSH THIS.

Like they crushed torrents and filesharing? Like they crushed Wikileaks?

You might just find that good ideas are a bit more resilient than you thought.

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June 11, 2011, 08:25:00 AM
 #13

THEY WILL CRUSH BITCOIN JUST LIKE THEY CRUSHED FILE SHARING AND ANONYMITY NETWORKS!!1

My Bitcoin address: 1DjTsAYP3xR4ymcTUKNuFa5aHt42q2VgSg
hugolp
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June 11, 2011, 08:39:58 AM
 #14

had to register to comment on this one...

I think its going to be tricky as anything GOV does has to factor in linden dollars, facebook, etc.

A bigger concern is what gavin, jeff et al intend to do as per:
http://www.cbsnews.com/video/watch/?id=7368784n&tag=contentBody;housing

We are working with the government to make sure indeed the long arm of the government can reach Bitcoin[/b]
Jeff Garzik, Bitcoin Developer

Bitcoin and Agorism
http://rulingclass.wordpress.com/2011/06/09/bitcoin-and-agorism/


I watched the same and did not like it a bit. I really hope they are just working Bitcoin as a trojan horse, giving the most kind face to the authorities so they let Bitcoin exists and it becomes big enough so they can not go down on it because there is a big mass of people using it and the political backslash would be considerable.
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June 11, 2011, 08:53:36 AM
 #15

Hey bitcoin is NOT anonymous. It's only anonymous if you both use tor and a bitcoin mixer.

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Sjalq
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June 11, 2011, 09:16:45 AM
 #16

THEY WILL CRUSH BITCOIN JUST LIKE THEY CRUSHED FILE SHARING AND ANONYMITY NETWORKS!!1

+1

Worrying though is that what if bitcoin fails this test, that it is too transparent. That means something else will replace it, something that will have the benefit of the bitcoin experiment and less flaws, that something is what will destroy our investments in bitcoin.

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June 11, 2011, 10:23:20 AM
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There is an easy way to effectively shut down bitcoin: go after the exchanges.  Shut down MtGox and a few other popular ones, or bury them in red tape and lawyers.  Imagine if the US government required MtGox to get photo ID from all users, or they pressured other banks and organisations to not accept MtGox withdrawls.  The Euro zone would follow soon afterwards.  Just closing a few exchanges would collapse the value of bitcoins as people see the dollars they pumped into the system may not necessarily be pumped out.  

How will they accomplish that?  Do you believe all goverments will join to destroy the exchanges, when they did not do that for more important issues?  Even so, destroying the exchanges will accomplish nothing, P2P trading will go on.  Destroying Bittorrent and Wikileaks would be far more easy than Bitcoin.

Actually goverments will need Bitcoin, as more and more people wake up to what b***s**t fiat currency really is.  And nope, people will not choose an inflationary fork to Bitcoin.
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June 11, 2011, 10:33:03 AM
 #18

THE GOVERNMENT WILL CRUSH THIS.
Which one? The one that's bankrupt and only influences 6% of the Earth's population? Do you know about some places on your planet called "Europe" and "Russia"?
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June 11, 2011, 10:33:16 AM
 #19

On the topic of Wikileaks, I believe they were kicked of Amazon on a Thursday and had attacks against their dns provider? By the Sunday night Google was returning new their IP as the top result for them and there were 208 exact copies of the sigh up and running.

If they go after Bitcoin they will create insane interest in BTC in the rest of the world. If bitcoin goes down, something better will just replace it.

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June 11, 2011, 10:52:22 AM
 #20


I saw a post today with some dude running a server with a mask on,



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