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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21328946 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (104 posts by 20 users deleted.)
tHash
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May 29, 2013, 07:29:44 PM
 #11761


Expected.

Only coinseeker would sell if the US says "Bitcoin is bad". Normal people will just buy all the coins they can with their fiat and transfer them to their wallets Smiley

Leaving jokes apart, all this is quite bullish for BTC. Despite of MtGox's fuck up, it's a fact that main BTC exchanges are trying to comply with regulations. And the sheriffs that busted LR say clearly that they are NOT after virtual currencies if they abid to FinCEN rules:

http://www.davidnews.com/2013/05/liberty-reserve-laundered-6-billion.html

That's the sheriffs press conference, listen carefully from minute 28:00

Quote
I want to make clear that today's actions does not mean that we are against virtual currencies

And you can see how the guy is implicitly referring to BTC, saying that it's ok if the exchanges are registered as MSB's

This is big, and may well be as close an "endorsement" from the government we have seen so far.
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Coinseeker
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May 29, 2013, 07:31:30 PM
 #11762


Expected.

Only coinseeker would sell if the US says "Bitcoin is bad". Normal people will just buy all the coins they can with their fiat and transfer them to their wallets Smiley

Leaving jokes apart, all this is quite bullish for BTC. Despite of MtGox's fuck up, it's a fact that main BTC exchanges are trying to comply with regulations. And the sheriffs that busted LR say clearly that they are NOT after virtual currencies if they abid to FinCEN rules:

http://www.davidnews.com/2013/05/liberty-reserve-laundered-6-billion.html

That's the sheriffs press conference, listen carefully from minute 28:00

Quote
I want to make clear that today's actions does not mean that we are against virtual currencies

And you can see how the guy is implicitly referring to BTC, saying that it's ok if the exchanges are registered as MSB's

This is big, and may well be as close an "endorsement" from the government we have seen so far.

I agree it's good news for Bitcoin, if it's sincere.  Just submit to regulations and hope for the best.   Wink
Frozenlock
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May 29, 2013, 07:36:00 PM
 #11763

Uh oh... rally is losing steam! Sell sell sell!  Wink
Richy_T
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May 29, 2013, 07:36:19 PM
 #11764


I agree it's good news for Bitcoin, if it's sincere.  Just submit to regulations and hope for the best.

Exchanges are not Bitcoin.
Miz4r
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May 29, 2013, 07:36:53 PM
 #11765

I agree it's good news for Bitcoin, if it's sincere.  Now submit to regulations and hope for the best.

You still don't get it do you? Exchanges have to play by the rules ofcourse but bitcoin itself can not and will not be regulated. Sorry if that hurts your regulated feelings.
Nikolaj06
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May 29, 2013, 07:37:38 PM
 #11766


I agree it's good news for Bitcoin, if it's sincere.  Now submit to regulations and hope for the best.

Jesus Coinseeker, I hear you use that word all the time, but what exactly do you mean..? How would you go about regulating Bitcoin?

Edit: I mean as in Bitcoin it self, not exchanges or anything that has to do with the transfer of dollars.
Coinseeker
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May 29, 2013, 07:39:40 PM
 #11767

 Grin  I know you guys hate that word...that's why I use it.  Settle down children, settle down.  It's just a forum. 
ElectricMucus
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May 29, 2013, 07:39:43 PM
 #11768

I don't think anybody was speaking of Bitcoin itself rather than exchanges and anti money laundering regulations.
IG0BR0KE
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May 29, 2013, 07:45:19 PM
 #11769


If you're interested

Mt. Gox case is different from LibertyReserve - Mt. Gox was focused solely on registration, warrant is here: http://money.cnn.com/interactive/technology/dhs-mtgox-bitcoin/index.html?iid=EL
ElectricMucus
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May 29, 2013, 07:54:35 PM
 #11770


If you're interested

Mt. Gox case is different from LibertyReserve - Mt. Gox was focused solely on registration, warrant is here: http://money.cnn.com/interactive/technology/dhs-mtgox-bitcoin/index.html?iid=EL

We all have seen that. Still wondering about the close temporal proximity, or lets call it quick succession. Maybe, this all originates at the same office, bureaucrats you know.  Tongue
Maybe they have "Internet month" and next month they are after something different, like credit card fraud or fake bills.
ardana123
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May 29, 2013, 07:55:59 PM
 #11771

I agree it's good news for Bitcoin, if it's sincere.  Now submit to regulations and hope for the best.

You still don't get it do you? Exchanges have to play by the rules ofcourse but bitcoin itself can not and will not be regulated. Sorry if that hurts your regulated feelings.

That's why there's a need for a decentralized exchange that can't be touched as well (eg bittorrent). Until then, it's gonna be a risky game playing on these exchanges.
ChartBuddy
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May 29, 2013, 08:02:02 PM
 #11772

Rampion
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May 29, 2013, 08:25:07 PM
 #11773

I don't think anybody was speaking of Bitcoin itself rather than exchanges and anti money laundering regulations.

He was speaking about Bitcoin because he made a precisa reference about the Fincen statement that cited explicitly Bitcoin.

And then he said the they do like innovation, which is pretty much the difference between BTC and LR: the former is an open source, community driven innovative project. The latter was just a business run by a convicted felon that circumvented wittingly regulations.

The point is the feds have realized virtual currencies are a big deal, and that you cannot simply ban a p2p protocol. If they have half a brain they know they have to control as much as possible the fiat->btc conversion and that the ban route is the most ineffective one.

I wouldn't be surprised by an exchange run by JPMorgan, in any case they want to he the market makers as per silver and not been cut out.  Smiley

And if they finally want to get rid of it, there are better strategies than simply ban it.
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May 29, 2013, 08:26:50 PM
 #11774

I don't think anybody was speaking of Bitcoin itself rather than exchanges and anti money laundering regulations.

He was speaking about Bitcoin because he made a precisa reference about the Fincen statement that cited explicitly Bitcoin. 

That was still about exchanges.
Rampion
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May 29, 2013, 08:29:43 PM
 #11775

I don't think anybody was speaking of Bitcoin itself rather than exchanges and anti money laundering regulations.

He was speaking about Bitcoin because he made a precisa reference about the Fincen statement that cited explicitly Bitcoin. 

That was still about exchanges.

What he said is that they are not against virtual currencies at all,  they just want exchanges to comply to regulation. 

Thus, they know they cannot simply "shut down" BTC as they did with LR.

That's bullish.
Richy_T
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May 29, 2013, 08:31:21 PM
 #11776

I agree it's good news for Bitcoin, if it's sincere.  Now submit to regulations and hope for the best.

You still don't get it do you? Exchanges have to play by the rules ofcourse but bitcoin itself can not and will not be regulated. Sorry if that hurts your regulated feelings.

That's why there's a need for a decentralized exchange that can't be touched as well (eg bittorrent). Until then, it's gonna be a risky game playing on these exchanges.

The problem with Bitcoin is fiat.

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May 29, 2013, 08:36:18 PM
 #11777

I agree it's good news for Bitcoin, if it's sincere.  Now submit to regulations and hope for the best.

You still don't get it do you? Exchanges have to play by the rules ofcourse but bitcoin itself can not and will not be regulated. Sorry if that hurts your regulated feelings.

That's why there's a need for a decentralized exchange that can't be touched as well (eg bittorrent). Until then, it's gonna be a risky game playing on these exchanges.

The problem with Bitcoin is fiat.



Yeah, final victory is breaking the loop fiat->btc–>fiat. As long as BTC's value is linked to fiat, they still have an enormous power. They are still the owners of "money", and while they cannot shut down the protocol, they can play with its perceived value at will.

Still, quite a challenge  for the establishment.

Gotta love to be part of this experiment.  Grin
Coinseeker
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May 29, 2013, 08:42:23 PM
 #11778

I wish you "bulls" would put your money were your mouths are and start BUYING!!  At least we'd have some action.  As far as I can tell, that's why you hate FUD...because you're so easily shaken in your faith.  Sell everything and buy bitcoin.  You shouldn't even have a computer right now.  It's depreciating anyway.  Aren't you in reality, losing money based on your delusions thinking?  Or is it really just all talk?
Its About Sharing
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May 29, 2013, 08:48:11 PM
 #11779


Expected.

Only coinseeker would sell if the US says "Bitcoin is bad". Normal people will just buy all the coins they can with their fiat and transfer them to their wallets Smiley

Leaving jokes apart, all this is quite bullish for BTC. Despite of MtGox's fuck up, it's a fact that main BTC exchanges are trying to comply with regulations. And the sheriffs that busted LR say clearly that they are NOT after virtual currencies if they abid to FinCEN rules:

http://www.davidnews.com/2013/05/liberty-reserve-laundered-6-billion.html

That's the sheriffs press conference, listen carefully from minute 28:00

Quote
I want to make clear that today's actions does not mean that we are against virtual currencies

And you can see how the guy is implicitly referring to BTC, saying that it's ok if the exchanges are registered as MSB's

Thanks for the link. I like how he starts off - "This might be the biggest international money laundering case..."   NO - HSBC 8 billion and Wachovia 100's of billions.

And he went on to say "To the contrary, mobile and internet based financial technologies, including virtual currencies, have great promise to empower consumers, to encourage the development of innovative financial products and expand access to financial services. In fact FinCen issued guidance in March 2013 to bring clarity and regulatory certainty to businesses and individuals...."

" Those offering virtual currencies must comply with these regulatory requirements and if they do so they have nothing to fear..."

Its About Sharing
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May 29, 2013, 08:49:36 PM
 #11780

I wish you "bulls" would put your money were your mouths are and start BUYING!!  At least we'd have some action.  As far as I can tell, that's why you hate FUD...because you're so easily shaken in your faith.  Sell everything and buy bitcoin.  You shouldn't even have a computer right now.  It's depreciating anyway.  Aren't you in reality, losing money based on your delusions thinking?  Or is it really just all talk?

Come on. Stick to your FUD and stop bringing discordance to the forum. Did you sell those XRP's for that outrageous price you were asking btw?  Cheesy
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