Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[needmorecoins]

lol imagine drug lords standing around waiting 40 minutes for 6 confirmations before finishing their exchanges.

[TheKoziTwo]

But we all know how much was bitcoin when it was used only for illegal purposes and not for speculation like today. I would like to hear your opinion on what will happen with bitcoin if it will be illegal to run a bitcoin exchange? Of course TOR-based exchanges could appear, but big money would be gone.

First and foremost, a global ban is unlikely. The most likely scenario is that there would be countries where it would still be legal to run exchanges. And "big money" knows how "offshore banking" works - especially is this "big money" comes from dubious sources. I bet you know that there is a lot of "big money" (or better, HUGE money) in counterfeit pharmaceutical drugs, prostitution, illegal weapons traffic, drugs, etc.

Secondly, Dread Pirate Roberts (SR operator) is a visionary. But new generations of "criminals" will join the pack as soon as they understand BTC. If BTC is banned, they would be even more attracted by it. "Criminal activity" (or black market) is a 1,829 billion per year market. If only a small % of that economic activity goes to BTC the price will skyrocket, and as I said earlier: everything illegal comes with a premium.

Bitcoin has the potential to be HUGE regardless of the official position of Governements.

I always thought that bright future of Bitcoin that we look forward to is not being a currency used by criminal big money, and when somebody mentions big money they mean investors, not human trafficing and weapons.

But yeah, I'm fine with that as long as price goes up.

Of course bitcoin is the currency of criminals, that's why it was created in the first place, to have a safe haven for criminals. But you need to realize that being a criminal is not a bad thing, it's a good thing.

[lucas.sev]

lol imagine drug lords standing around waiting 40 minutes for 6 confirmations before finishing their exchanges.

40 mins is nothing when compared to effort of paying with cash

But we all know how much was bitcoin when it was used only for illegal purposes and not for speculation like today. I would like to hear your opinion on what will happen with bitcoin if it will be illegal to run a bitcoin exchange? Of course TOR-based exchanges could appear, but big money would be gone.

First and foremost, a global ban is unlikely. The most likely scenario is that there would be countries where it would still be legal to run exchanges. And "big money" knows how "offshore banking" works - especially is this "big money" comes from dubious sources. I bet you know that there is a lot of "big money" (or better, HUGE money) in counterfeit pharmaceutical drugs, prostitution, illegal weapons traffic, drugs, etc.

Secondly, Dread Pirate Roberts (SR operator) is a visionary. But new generations of "criminals" will join the pack as soon as they understand BTC. If BTC is banned, they would be even more attracted by it. "Criminal activity" (or black market) is a 1,829 billion per year market. If only a small % of that economic activity goes to BTC the price will skyrocket, and as I said earlier: everything illegal comes with a premium.

Bitcoin has the potential to be HUGE regardless of the official position of Governements.

I always thought that bright future of Bitcoin that we look forward to is not being a currency used by criminal big money, and when somebody mentions big money they mean investors, not human trafficing and weapons.

But yeah, I'm fine with that as long as price goes up.

Of course bitcoin is the currency of criminals, that's why it was created in the first place, to have a safe haven for criminals. But you need to realize that being a criminal is not a bad thing, it's a good thing.

Now that's something! It's a good thing for the criminal as long as they are not caught, and a bad thing to their victims.

[wachtwoord]

lol imagine drug lords standing around waiting 40 minutes for 6 confirmations before finishing their exchanges.

40 mins is nothing when compared to effort of paying with cash

And the can chat and get to know each other. May be they'll be more friendly then in the future 

[TheKoziTwo]

lol imagine drug lords standing around waiting 40 minutes for 6 confirmations before finishing their exchanges.

I think services built on top of bitcoin will account for most purchases eventually. Those services will provide more anonymity and will be instant. I would imagine drug lords using these services as well, and use bitcoin for long term storage.

[TheKoziTwo]

Of course bitcoin is the currency of criminals, that's why it was created in the first place, to have a safe haven for criminals. But you need to realize that being a criminal is not a bad thing, it's a good thing.

Now that's something! It's a good thing for the criminal as long as they are not caught, and a bad thing to their victims.

You seem to live under the illusion that every crime has a victim, that is utterly false. In fact, most crimes are completely victimless.

[KS]

Of course bitcoin is the currency of criminals, that's why it was created in the first place, to have a safe haven for criminals. But you need to realize that being a criminal is not a bad thing, it's a good thing.

Now that's something! It's a good thing for the criminal as long as they are not caught, and a bad thing to their victims.

You seem to live under the illusion that every crime has a victim, that is utterly false. In fact, most crimes are completely victimless.

Or rather you cannot easily pinpoint who the victim is. Otherwise it's not a "real" crime.

[lucas.sev]

Of course bitcoin is the currency of criminals, that's why it was created in the first place, to have a safe haven for criminals. But you need to realize that being a criminal is not a bad thing, it's a good thing.

Now that's something! It's a good thing for the criminal as long as they are not caught, and a bad thing to their victims.

You seem to live under the illusion that every crime has a victim, that is utterly false. In fact, most crimes are completely victimless.

Following your line of thought by saying that "being criminal is a good thing" you live under the illusion that every crime is victimless.

[KS]

(blasphemy, prostitution etc.)

bad examples.

[KS]

Of course bitcoin is the currency of criminals, that's why it was created in the first place, to have a safe haven for criminals. But you need to realize that being a criminal is not a bad thing, it's a good thing.

Now that's something! It's a good thing for the criminal as long as they are not caught, and a bad thing to their victims.

You seem to live under the illusion that every crime has a victim, that is utterly false. In fact, most crimes are completely victimless.

Following your line of thought by saying that "being criminal is a good thing" you live under the illusion that every crime is victimless.

Or he's thinking about consenting victims.

[samson]

Are we still going up up up beacuse it doesn't look like it to me

[michaelGedi]

or breaking retarded laws...

[TheKoziTwo]

Of course bitcoin is the currency of criminals, that's why it was created in the first place, to have a safe haven for criminals. But you need to realize that being a criminal is not a bad thing, it's a good thing.

Now that's something! It's a good thing for the criminal as long as they are not caught, and a bad thing to their victims.

You seem to live under the illusion that every crime has a victim, that is utterly false. In fact, most crimes are completely victimless.

Victimless crimes is logical contradiction. What they call victimless crimes aren't crimes. (blasphemy, prostitution etc.)

Victimless crimes are still crimes. If you break the law, you are a criminal.

Of course bitcoin is the currency of criminals, that's why it was created in the first place, to have a safe haven for criminals. But you need to realize that being a criminal is not a bad thing, it's a good thing.

Now that's something! It's a good thing for the criminal as long as they are not caught, and a bad thing to their victims.

You seem to live under the illusion that every crime has a victim, that is utterly false. In fact, most crimes are completely victimless.

Following your line of thought by saying that "being criminal is a good thing" you live under the illusion that every crime is victimless.

That's a weird conclusion. Most crimes are victimless, some are not. But since the majority of criminal actions are victimless, I believe it's fair to say it's a good thing that bitcoin is used by criminals.

[lucas.sev]

Of course bitcoin is the currency of criminals, that's why it was created in the first place, to have a safe haven for criminals. But you need to realize that being a criminal is not a bad thing, it's a good thing.

Now that's something! It's a good thing for the criminal as long as they are not caught, and a bad thing to their victims.

You seem to live under the illusion that every crime has a victim, that is utterly false. In fact, most crimes are completely victimless.

Victimless crimes is logical contradiction. What they call victimless crimes aren't crimes. (blasphemy, prostitution etc.)

Victimless crimes are still crimes. If you break the law, you are a criminal.

Of course bitcoin is the currency of criminals, that's why it was created in the first place, to have a safe haven for criminals. But you need to realize that being a criminal is not a bad thing, it's a good thing.

Now that's something! It's a good thing for the criminal as long as they are not caught, and a bad thing to their victims.

You seem to live under the illusion that every crime has a victim, that is utterly false. In fact, most crimes are completely victimless.

Following your line of thought by saying that "being criminal is a good thing" you live under the illusion that every crime is victimless.

That's a weird conclusion. Most crimes are victimless, some are not. But since the majority of criminal actions are victimless, I believe it's fair to say it's a good thing that bitcoin is used by criminals.

It's just as weird as your conclusion that I seem to live under some kind of illusion

[TheKoziTwo]

Of course bitcoin is the currency of criminals, that's why it was created in the first place, to have a safe haven for criminals. But you need to realize that being a criminal is not a bad thing, it's a good thing.

Now that's something! It's a good thing for the criminal as long as they are not caught, and a bad thing to their victims.

You seem to live under the illusion that every crime has a victim, that is utterly false. In fact, most crimes are completely victimless.

Victimless crimes is logical contradiction. What they call victimless crimes aren't crimes. (blasphemy, prostitution etc.)

Victimless crimes are still crimes. If you break the law, you are a criminal.

I disagree. Morally, one shouldn't be bound to follow laws that are unjust. Just don't get caught/prosecuted.

You don't disagree, I don't believe in any moral need to follow laws that are unjust either. But if the statist are going to name you a criminal for doing what's right, then be proud to be a criminal.

It's just as weird as your conclusion that I seem to live under some kind of illusion

If you believe most criminals have done something morally unjustifiable, you're either morally corrupt or live under the illusion that those crimes have victims, even though they do not.

[lucas.sev]

It's just as weird as your conclusion that I seem to live under some kind of illusion

If you believe most criminals have done something morally unjustifiable, you're either morally corrupt or live under the illusion that those crimes have victims, even though they do not.

But I never said anything like that. I only being a criminal is good for the criminal and bad for their victims. If there are no victims then it can't be bad for them.

[10c]

Sure sounds like there's a lot of SR vendors on this thread, trying to morally justify they are just that  

Maybe bitcoin economy is mostly SR afterall...

[wachtwoord]

Sure sounds like there's a lot of SR vendors on this thread, trying to morally justify they are just that 

I never purchased or sold anything on SR. I did make an account once to see what the fuss was about.

[TheKoziTwo]

You don't disagree, I don't believe in any moral need to follow laws that are unjust either. But if the statist are going to name you a criminal for doing what's right, then be proud to be a criminal.

No, I do disagree

They aren't crimes. Some ignorant people (governments mainly) may label them as crimes, but this doesn't make it so.

See that's the thing, it all boils down to definition, but we don't have any power over those. So instead of trying to explain to people that their definition is void, it's better to take on their defintion, their label, and embrace it fully. Yes, I'm a criminal. Yes, I'm a pedophile. Yes, I'm a terrorist. Yes, I launder money. So what? This spurs a much more interesting conversation, than trying to explain what is criminal behaviour and what is not.

[TheKoziTwo]

Sure sounds like there's a lot of SR vendors on this thread, trying to morally justify they are just that  

Maybe bitcoin economy is mostly SR afterall...

You are wrong. I never dealt on SR, ever.