Bitcoin Forum
January 20, 2018, 07:45:07 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 [3]  All
  Print  
Author Topic: What happens to BTC when Finra or the SEC shut down Mtgox for money laundering?  (Read 4075 times)
Logik
Sr. Member
****
Offline Offline

Activity: 322



View Profile
March 22, 2013, 04:47:51 AM
 #41

Quote
Developers, programmers, where are you?  Lets get this thing operational before it's necessary.


It's not exactly a software development problem. An exchange needs to electronically transfer legal tender ($USD, $CAD, etc.). That's not possible without reliance on 'traditional' infrastructure. For example MtGox relies on Dwolla.. I'm not saying the US govt. wants to kill MtGox, but if they did then that's the weak point. No matter what service or technique you use, if you want to electronically transfer legal tender you will have the same kind of weak point.

The closest thing to a decentralized exchange is manual bank deposits between individuals, but then that's basically what localbitcoins.com is.

    ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄   
   ████████████████████████████████   
     ▀██████████████████████████▀     
        ▀████████████████████▀       
          ████████████████▀         
            █████████████           
            ▀████████████▀           
             ▀██████████▀             
              ██████████             
               ████████               
               ▀██████▀               
                ██████               
                 
.
trade.io.
██████
██████
███
███
███
███
███
███
███
███
███
██████
██████

▄██████████████████▄
███       ▀███████
███       █████████
███       █████████
███       █████████
███              ██
███   ▄▄▄▄▄▄▄▄   ███
███   ▄▄▄▄▄▄▄▄   ███
███              ███
███▄▄▄▄▄▄▄▄▄▄▄▄▄▄███
██████████████████▀

▄██████████████████▄
███████████▀ ███████
█████████▀   ███████
███████▀     ██▀ ███
███ ▀▀       █▄▄████
███          █▀▀▀▀██
███ ▄▄       ███████
██████▄     █▄ ▀███
█████████▄   ███▄███
███████████▄ ███████
▀██████████████████▀

▄██████████████████▄
████████████████████
███████████████▀▀ ██
█████████▀▀     ███
████▀▀     ▄█▀   ███
███▄    ▄██      ███
█████████▀      ▄██
█████████▄     ████
█████████████▄ ▄████
████████████████████
▀██████████████████▀
██████
██████
   ███
   ███
   ███
   ███
   ███
   ███
   ███
   ███
   ███
██████
██████
.
.Join the Trading Revolution.
1516477507
Hero Member
*
Offline Offline

Posts: 1516477507

View Profile Personal Message (Offline)

Ignore
1516477507
Reply with quote  #2

1516477507
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1516477507
Hero Member
*
Offline Offline

Posts: 1516477507

View Profile Personal Message (Offline)

Ignore
1516477507
Reply with quote  #2

1516477507
Report to moderator
edmundedgar
Sr. Member
****
Offline Offline

Activity: 352


https://www.realitykeys.com


View Profile WWW
March 22, 2013, 04:57:12 AM
 #42

It's not exactly a software development problem. An exchange needs to electronically transfer legal tender ($USD, $CAD, etc.). That's not possible without reliance on 'traditional' infrastructure. For example MtGox relies on Dwolla..

Right, we if we could use traditional currencies online in a cheap, fast, decentralized and censorship-resistant way we wouldn't need Bitcoin in the first place...
Grover
Full Member
***
Offline Offline

Activity: 137


I was thinking Stay Puft, but Gozer said Grover


View Profile
March 22, 2013, 06:57:54 AM
 #43

I just found this article it explains at length what I stated in an earlier post.


http://bitcoinmagazine.com/fincen-bitcoin-users-not-regulated-exchanges-are/
Pages: « 1 2 [3]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!