Idrisu
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February 04, 2017, 10:41:32 AM |
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Of course it is possible to launder money via Bitcoin. Otherwise, Bitcoin cannot be considered the equivalent of a real currency, because the ability to launder money is a "feature" of every fiat currency. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Bitcoin cannot be control because of it decentralization natured. My fear and why government all over the world are bragging feet about bitcoin adoption is because of laundering. Many evils people may be trying to use bitcoin for their evil intention. Adoption of cryptocurtencies lay on this, if governments will adopt it then there most be set of control , if not evils people will use it as a tool for their evils.
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Mometaskers
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February 04, 2017, 01:54:25 PM |
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I've always been under the impression that bitcoin is completely anonymous but the more I read about it, the more I'm starting to be convinced that it isn't. There would be ways to track the money. There may be services like mixers that might help in the process but these companies could eventually find themselves under government surveillance. Never underestimate the state's capacity to use force.
Though it might seem troubling that they'd probably get around to tracking how we use our money, that's not always a bad thing. Everyone would probably agree that it's our obligation to pay taxes and that most money laundered have been made by stealing people's money (scams, hacking, etc) or exploiting them (drug sales, prostitution rings, etc).
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Victorycoin
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February 04, 2017, 02:15:44 PM |
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Its an illegal act and is punishable by law when bitcoin is used on laundering money, because that is not transparent to the government regulation and through laundering illegal transactions is prone to happen. We don't want bitcoin to have bad reputation right? So if we knew something involved to any cases like this linked to btc laundering, it should be reported so that i will be stopped in an earlier time.
I think that there is only one solution for that, that governments should consider bitcoin as legal. and after they they can also impose tax on it and can also put tax on it on transaction of bitcoin from one country to another. although it is loosing difficult but i think it is not such big problem for the governments to do arrangements for that. Governments already see that suggestion as suicidal and would not be willing to touch it even from a mile, because with such backing, Bitcoin would become so formidable and valuable, all other form of money especially the fiat currencies would lose favor and value. I think the governments are helpless with Bitcoin, they can't frustrate it and yet they can't approve of it. Actually it is interesting that things are the way they are, in the long run, it is sure to create a condusive global economy.
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Gembul
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February 04, 2017, 02:22:03 PM |
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I've always been under the impression that bitcoin is completely anonymous but the more I read about it, the more I'm starting to be convinced that it isn't. There would be ways to track the money. There may be services like mixers that might help in the process but these companies could eventually find themselves under government surveillance. Never underestimate the state's capacity to use force.
Though it might seem troubling that they'd probably get around to tracking how we use our money, that's not always a bad thing. Everyone would probably agree that it's our obligation to pay taxes and that most money laundered have been made by stealing people's money (scams, hacking, etc) or exploiting them (drug sales, prostitution rings, etc).
Right dude, I personally agree that law enforcement in this case is the government to intervene like that. Such illegal activities is to be upheld, because it harms others. Although a little difficult to keep track of bitcoin transactions but I believe that the authorities always have his own way. Good or government interference depends upon the perspective of each person.And money laundering is beneficial for criminals, and therefore need an active role in law enforcement in this case. Thank you
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Vaskiy
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February 04, 2017, 02:25:38 PM |
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Its an illegal act and is punishable by law when bitcoin is used on laundering money, because that is not transparent to the government regulation and through laundering illegal transactions is prone to happen. We don't want bitcoin to have bad reputation right? So if we knew something involved to any cases like this linked to btc laundering, it should be reported so that i will be stopped in an earlier time.
i think that there is only one solution for that, that governments should consider bitcoin as legal. and after they they can also impose tax on it and can also put tax on it on transaction of bitcoin from one country to another. although it is loosing difficult but i think it is not such big problem for the governments to do arrangements for that. Bitcoin getting regulated by governments needs more time. This is not simple to make arrangements to track the transactions and impose tax. The uncontrollable factor keeps it hard to find the person behind the laundering service. Eliminating bitcoin from money laundering is a difficult and a task which is 80% impossible.
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danherbias07
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Leading Crypto Sports Betting & Casino Platform
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February 04, 2017, 02:27:28 PM |
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I've always been under the impression that bitcoin is completely anonymous but the more I read about it, the more I'm starting to be convinced that it isn't. There would be ways to track the money. There may be services like mixers that might help in the process but these companies could eventually find themselves under government surveillance. Never underestimate the state's capacity to use force.
Though it might seem troubling that they'd probably get around to tracking how we use our money, that's not always a bad thing. Everyone would probably agree that it's our obligation to pay taxes and that most money laundered have been made by stealing people's money (scams, hacking, etc) or exploiting them (drug sales, prostitution rings, etc).
Right dude, I personally agree that law enforcement in this case is the government to intervene like that. Such illegal activities is to be upheld, because it harms others. Although a little difficult to keep track of bitcoin transactions but I believe that the authorities always have his own way. Good or government interference depends upon the perspective of each person.And money laundering is beneficial for criminals, and therefore need an active role in law enforcement in this case. Thank you You want law enforcement near ours? We will all problems here if that happens. Look, if the government starts interacting with the bitcoin community there will be charges that will be on our heads. Privacy is being a crime now. They dont want people keeping secrets with them specially one without tax. Here we dont pay taxes and thatvis against rhe law. That is why this criminal activities are being held here. They know they wont see because theee is no trace of legality.
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Dank Frank
Sr. Member
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Too Weird to Live. Too Rare to Die...
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February 04, 2017, 02:31:37 PM |
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I've always been under the impression that bitcoin is completely anonymous but the more I read about it, the more I'm starting to be convinced that it isn't. There would be ways to track the money. There may be services like mixers that might help in the process but these companies could eventually find themselves under government surveillance. Never underestimate the state's capacity to use force.
Though it might seem troubling that they'd probably get around to tracking how we use our money, that's not always a bad thing. Everyone would probably agree that it's our obligation to pay taxes and that most money laundered have been made by stealing people's money (scams, hacking, etc) or exploiting them (drug sales, prostitution rings, etc).
Bitcoin isn't completely anonymous, there are several criminal organizations here rolled up and all their btc was confiscated after that they just followed the trail on blockchain where it all went and even more people got arrested. It does require a lot of work to find such things out but seemingly it can. I'm not sure what if they would had used randomizes for the coins where the servers are placed in a country where we aren't allowed acces to. It would for sure had made things more difficult. Or else people could convert to a true anonymous coin like monero, do some transactions and exchane back to btc to sell it. There are some ways I believe to hide it. I agree it is our obligation to pay taxes and I'm glad some people are audited who try to get out of it.
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manselr
Legendary
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February 04, 2017, 02:37:40 PM |
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I've always been under the impression that bitcoin is completely anonymous but the more I read about it, the more I'm starting to be convinced that it isn't. There would be ways to track the money. There may be services like mixers that might help in the process but these companies could eventually find themselves under government surveillance. Never underestimate the state's capacity to use force.
Though it might seem troubling that they'd probably get around to tracking how we use our money, that's not always a bad thing. Everyone would probably agree that it's our obligation to pay taxes and that most money laundered have been made by stealing people's money (scams, hacking, etc) or exploiting them (drug sales, prostitution rings, etc).
Bitcoin isn't completely anonymous, there are several criminal organizations here rolled up and all their btc was confiscated after that they just followed the trail on blockchain where it all went and even more people got arrested. It does require a lot of work to find such things out but seemingly it can. I'm not sure what if they would had used randomizes for the coins where the servers are placed in a country where we aren't allowed acces to. It would for sure had made things more difficult. Or else people could convert to a true anonymous coin like monero, do some transactions and exchane back to btc to sell it. There are some ways I believe to hide it. I agree it is our obligation to pay taxes and I'm glad some people are audited who try to get out of it. It is our obligation to pay taxes and i dont recommend laundering money because that is a crime, but if someone runs their coins through Helix through their onion hidden service then I dont know how anyone can ever trace back the coins back to the original sender, so you dont even need monero to do that.
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Vikingr
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 04, 2017, 03:16:43 PM |
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It is quite possible, if people know how easy it is to save money so that avoid taxes certainly bitcoin is the place. This is one of the weaknesses of the bitcoin too free to use by anyone. I think this should be repaired immediately because it could create a state block bitcoin.
It is not a weakness, it's a good feature, everyone should be free to use bitcoin and that is what makes bitcoin great and much greater in the future... When everyone is using it, it will be strong... So I don't see it as a weakness totally, but partly yes, since it is not like bank who asks many things about the one holding an account... ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) But I have a thinking that bitcoin has only just began, and maybe in the future, there will be a solution to that... I think so, this is a nice feature, we all know that the price of the bitcoin can be very dynamic, up and down hundreds of percent in a year. I'm sure, although bitcoin is a safe place for money laundering, but there is a big risk. Example: someone buy 1 bitcoin with price at $1,000 and then he bought 1,000 btc, then when the price becomes $700, for sure he will crying. Believe me, it is not possible be people making bitcoin as money laundering. for now it is good for us bitcoin users. But in the long run maybe it will be the same as fiat money. They can let us give taxes if the government told so. So better if we use it now and feel free to use its features before its too late. I do not think that in the future the governments will impose taxes on bitcoin or if the governments will impose tax then they will not be able to regulate this order on bitcoin users because bitcoin is a decentralized currency and people are anonymous in the use of bitcoin and the governments do not have control on the use of bitcoin.
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thunderbitz2717
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 04, 2017, 05:58:03 PM |
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Based on what I found in bitcoin according to its definition, Bitcoin is very hands on in so many ways. I can imagine that any individuals they can use bitcoin for whatever purposes whether it is legal or illegal. No one can stop it. Even in money laundering they can really use bitcoin through in black market, because maybe they're avoiding big taxes in the government, sounds like that. I guess bitcoin will not be abuse by somebody in illegal activities.
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RENATA612
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February 04, 2017, 06:15:53 PM |
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Issues bitcoin be a place for money laundering, which is ultimately for the country that corruption is still high they will not accept bitcoin currency partially, because bitcoin can not be controlled, if the problem washing the money actually dependent use are of interest in using it for what bitcoin
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BitFinnese
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 04, 2017, 06:55:14 PM |
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It is quite possible, if people know how easy it is to save money so that avoid taxes certainly bitcoin is the place. This is one of the weaknesses of the bitcoin too free to use by anyone. I think this should be repaired immediately because it could create a state block bitcoin.
It is not a weakness, it's a good feature, everyone should be free to use bitcoin and that is what makes bitcoin great and much greater in the future... When everyone is using it, it will be strong... So I don't see it as a weakness totally, but partly yes, since it is not like bank who asks many things about the one holding an account... ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) But I have a thinking that bitcoin has only just began, and maybe in the future, there will be a solution to that... I think so, this is a nice feature, we all know that the price of the bitcoin can be very dynamic, up and down hundreds of percent in a year. I'm sure, although bitcoin is a safe place for money laundering, but there is a big risk. Example: someone buy 1 bitcoin with price at $1,000 and then he bought 1,000 btc, then when the price becomes $700, for sure he will crying. Believe me, it is not possible be people making bitcoin as money laundering. for now it is good for us bitcoin users. But in the long run maybe it will be the same as fiat money. They can let us give taxes if the government told so. So better if we use it now and feel free to use its features before its too late. I do not think that in the future the governments will impose taxes on bitcoin or if the governments will impose tax then they will not be able to regulate this order on bitcoin users because bitcoin is a decentralized currency and people are anonymous in the use of bitcoin and the governments do not have control on the use of bitcoin. I think they can if they target the exchange, or the customer that is converting their Bitcoin to fiat currency or vice-versa. Government can resort to any trick even the dirty one to get money from their citizen. Worst is they tend to make it as look so good that these citizen even thanking their government LOL.
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Clement Kaliyar
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 04, 2017, 08:11:54 PM |
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I've always been under the impression that bitcoin is completely anonymous but the more I read about it, the more I'm starting to be convinced that it isn't. There would be ways to track the money. There may be services like mixers that might help in the process but these companies could eventually find themselves under government surveillance. Never underestimate the state's capacity to use force.
Though it might seem troubling that they'd probably get around to tracking how we use our money, that's not always a bad thing. Everyone would probably agree that it's our obligation to pay taxes and that most money laundered have been made by stealing people's money (scams, hacking, etc) or exploiting them (drug sales, prostitution rings, etc).
Bitcoin is not completely anonymous but you can very well be anonymous if you really wanted to be.Unless and until you prefer to enrol your coins in an exchange it is fine other than that it is quite obvious it can be tracked through the open ledger which can be viewed by anyone.
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deisik
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February 04, 2017, 08:56:26 PM |
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It is quite possible, if people know how easy it is to save money so that avoid taxes certainly bitcoin is the place. This is one of the weaknesses of the bitcoin too free to use by anyone. I think this should be repaired immediately because it could create a state block bitcoin.
It is not a weakness, it's a good feature, everyone should be free to use bitcoin and that is what makes bitcoin great and much greater in the future... When everyone is using it, it will be strong... So I don't see it as a weakness totally, but partly yes, since it is not like bank who asks many things about the one holding an account... ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) But I have a thinking that bitcoin has only just began, and maybe in the future, there will be a solution to that... I think so, this is a nice feature, we all know that the price of the bitcoin can be very dynamic, up and down hundreds of percent in a year. I'm sure, although bitcoin is a safe place for money laundering, but there is a big risk. Example: someone buy 1 bitcoin with price at $1,000 and then he bought 1,000 btc, then when the price becomes $700, for sure he will crying. Believe me, it is not possible be people making bitcoin as money laundering. for now it is good for us bitcoin users. But in the long run maybe it will be the same as fiat money. They can let us give taxes if the government told so. So better if we use it now and feel free to use its features before its too late. I do not think that in the future the governments will impose taxes on bitcoin or if the governments will impose tax then they will not be able to regulate this order on bitcoin users because bitcoin is a decentralized currency and people are anonymous in the use of bitcoin and the governments do not have control on the use of bitcoin. I think they can if they target the exchange, or the customer that is converting their Bitcoin to fiat currency or vice-versa. Government can resort to any trick even the dirty one to get money from their citizen. Worst is they tend to make it as look so good that these citizen even thanking their government LOL "All authority comes from God" It is sort of Stockholm Syndrome really. Folks are grown with the idea of government being their superior Big Brother which has some legit power over them and allowed to do anything he may ever wish. It is hilarious to see when the authorities make some stupid move and then try to cover their steps with lame excuses like fighting with terrorism (instead of real fighting with real terrorism, e.g. bombing out SA) or similar things, or, say, declaring some other government and their leader as the worst enemy of the nation and then turning 180 degrees when it fits them most ("doublethink", or "to know and not to know")
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Victorycoin
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 06, 2017, 02:05:43 PM |
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It is quite possible, if people know how easy it is to save money so that avoid taxes certainly bitcoin is the place. This is one of the weaknesses of the bitcoin too free to use by anyone. I think this should be repaired immediately because it could create a state block bitcoin.
It is not a weakness, it's a good feature, everyone should be free to use bitcoin and that is what makes bitcoin great and much greater in the future... When everyone is using it, it will be strong... So I don't see it as a weakness totally, but partly yes, since it is not like bank who asks many things about the one holding an account... ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) But I have a thinking that bitcoin has only just began, and maybe in the future, there will be a solution to that... I think so, this is a nice feature, we all know that the price of the bitcoin can be very dynamic, up and down hundreds of percent in a year. I'm sure, although bitcoin is a safe place for money laundering, but there is a big risk. Example: someone buy 1 bitcoin with price at $1,000 and then he bought 1,000 btc, then when the price becomes $700, for sure he will crying. Believe me, it is not possible be people making bitcoin as money laundering. for now it is good for us bitcoin users. But in the long run maybe it will be the same as fiat money. They can let us give taxes if the government told so. So better if we use it now and feel free to use its features before its too late. I do not think that in the future the governments will impose taxes on bitcoin or if the governments will impose tax then they will not be able to regulate this order on bitcoin users because bitcoin is a decentralized currency and people are anonymous in the use of bitcoin and the governments do not have control on the use of bitcoin. I think they can if they target the exchange, or the customer that is converting their Bitcoin to fiat currency or vice-versa. Government can resort to any trick even the dirty one to get money from their citizen. Worst is they tend to make it as look so good that these citizen even thanking their government LOL "All authority comes from God" It is sort of Stockholm Syndrome really. Folks are grown with the idea of government being their superior Big Brother which has some legit power over them and allowed to do anything he may ever wish. It is hilarious to see when the authorities make some stupid move and then try to cover their steps with lame excuses like fighting with terrorism (instead of real fighting with real terrorism, e.g. bombing out SA) or similar things, or, say, declaring some other government and their leader as the worst enemy of the nation and then turning 180 degrees when it fits them most ("doublethink", or "to know and not to know") How are the people manufacturing those bombs? Isn't that what the governments should see as closer to the root cause of the problem? Who says those bombs cannot be purchased or financed with currencies other than Bitcoin? So we can see the real problem is not Bitcoin, governments are simply passing the bulk, while what they desperate needed is control of Bitcoin.
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zimmah
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February 06, 2017, 02:22:40 PM |
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It;s not possible because the idea of money laundering is to make illegally obtained money appear legally obtained. If you suddenly get a lot of money in bitcoin, the state wll assume it's illegally obtained. So no, you can't launder money using bitcoin, because it will never appear legit.
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deisik
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February 06, 2017, 02:41:43 PM |
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"All authority comes from God"
It is sort of Stockholm Syndrome really. Folks are grown with the idea of government being their superior Big Brother which has some legit power over them and allowed to do anything he may ever wish. It is hilarious to see when the authorities make some stupid move and then try to cover their steps with lame excuses like fighting with terrorism (instead of real fighting with real terrorism, e.g. bombing out SA) or similar things, or, say, declaring some other government and their leader as the worst enemy of the nation and then turning 180 degrees when it fits them most ("doublethink", or "to know and not to know")
How are the people manufacturing those bombs? Isn't that what the governments should see as closer to the root cause of the problem? Who says those bombs cannot be purchased or financed with currencies other than Bitcoin? So we can see the real problem is not Bitcoin, governments are simply passing the bulk, while what they desperate needed is control of Bitcoin. In fact, I don't feel like they desperately need control over Bitcoin It doesn't yet give them much pain in the ass, as of yet. You could say that it will or may give them a lot of headache in the future, and I will most certainly agree with you. And why then they don't want to nip Bitcoin in the bud, you may ask? Because this is not how the government thinks (if we were to consider it as a thinking entity at all). The very existence of terrorism (and similar things) proves that it can't largely "prethink" or foresee and anticipate future events since in practice it mostly deals with the symptoms not the root causes of some problem
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chixka000
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 06, 2017, 02:59:44 PM |
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"All authority comes from God"
It is sort of Stockholm Syndrome really. Folks are grown with the idea of government being their superior Big Brother which has some legit power over them and allowed to do anything he may ever wish. It is hilarious to see when the authorities make some stupid move and then try to cover their steps with lame excuses like fighting with terrorism (instead of real fighting with real terrorism, e.g. bombing out SA) or similar things, or, say, declaring some other government and their leader as the worst enemy of the nation and then turning 180 degrees when it fits them most ("doublethink", or "to know and not to know")
How are the people manufacturing those bombs? Isn't that what the governments should see as closer to the root cause of the problem? Who says those bombs cannot be purchased or financed with currencies other than Bitcoin? So we can see the real problem is not Bitcoin, governments are simply passing the bulk, while what they desperate needed is control of Bitcoin. In fact, I don't feel like they desperately need control over Bitcoin It doesn't yet give them much pain in the ass, as of yet. You could say that it will or may give them a lot of headache in the future, and I will most certainly agree with you. And why then they don't want to nip Bitcoin in the bud, you may ask? Because this is not how the government thinks (if we were to consider it as a thinking entity at all). The very existence of terrorism (and similar things) proves that it can't largely "prethink" or foresee and anticipate future events since in practice it mostly deals with the symptoms not the root causes of some problem Absolutely, if the government in the first fhinks that bitcoin would be a big treat then they have banned it already just like the other countries where the government thinks this way.
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Zadicar
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February 06, 2017, 03:07:54 PM |
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"All authority comes from God"
It is sort of Stockholm Syndrome really. Folks are grown with the idea of government being their superior Big Brother which has some legit power over them and allowed to do anything he may ever wish. It is hilarious to see when the authorities make some stupid move and then try to cover their steps with lame excuses like fighting with terrorism (instead of real fighting with real terrorism, e.g. bombing out SA) or similar things, or, say, declaring some other government and their leader as the worst enemy of the nation and then turning 180 degrees when it fits them most ("doublethink", or "to know and not to know")
How are the people manufacturing those bombs? Isn't that what the governments should see as closer to the root cause of the problem? Who says those bombs cannot be purchased or financed with currencies other than Bitcoin? So we can see the real problem is not Bitcoin, governments are simply passing the bulk, while what they desperate needed is control of Bitcoin. In fact, I don't feel like they desperately need control over Bitcoin It doesn't yet give them much pain in the ass, as of yet. You could say that it will or may give them a lot of headache in the future, and I will most certainly agree with you. And why then they don't want to nip Bitcoin in the bud, you may ask? Because this is not how the government thinks (if we were to consider it as a thinking entity at all). The very existence of terrorism (and similar things) proves that it can't largely "prethink" or foresee and anticipate future events since in practice it mostly deals with the symptoms not the root causes of some problem Absolutely, if the government in the first fhinks that bitcoin would be a big treat then they have banned it already just like the other countries where the government thinks this way. They would surely see the bitcoins disadvantage when they are planning to accept bitcoin on their place. They saw that bitcoin cant really be controlled because of its decentralized feature thats why government dont really like this thing. Money laundering is very possible on bitcoin.
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chixka000
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February 06, 2017, 03:12:26 PM |
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They would surely see the bitcoins disadvantage when they are planning to accept bitcoin on their place. They saw that bitcoin cant really be controlled because of its decentralized feature thats why government dont really like this thing. Money laundering is very possible on bitcoin.
There were a lot of exchanger sites that follows kyc policy so whatsthe point of banning bitcoin because of money laundering they say? If then they should banned fiat in the first place as well because obviously it was involved more than 1000x in money laundering than btc
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