So.... How long until the government says that terrorists use bitcoins.

[ashaw596]

Seriously. Just one of them says they bought a couple weapons using bitcoins and we'll be SCREWED......

Bets anyone?

[Lethn]

Oh please, our governments can't even stop filesharers, it's going to be a laugh to see them try and shut down Bitcoin.

[Geez]

They already mentioned that Bitcoin is being used for illegal activities. Probably scared away a lot of people but BTC is still going good.

[knybe]

Seriously. Just one of them says they bought a couple weapons using bitcoins and we'll be SCREWED......

Bets anyone?

FUD creation.

[jackjack]

[ashaw596]

It would be hard for them to actually "stop" the currency, but if the media spins it enough, they could probably pass a couple laws and with enough negative publicity, the value would drop to worthless.

So.... Who's hiring the lobbyists and who's bribing the media?

 

[empoweoqwj]

I don't remember Bin Laden or the IRA using many bitcoins, they used bank accounts and smuggled cash. If there is an argument to shut-down bitcoin, the *exact* same argument applies to cash + the bank account system.

[jackjack]

It would be hard for them to actually "stop" the currency, but if the media spins it enough, they could probably pass a couple laws and with enough negative publicity, the value would drop to worthless.

So.... Who's hiring the lobbyists and who's bribing the media?

 

What laws?
Any law killing Bitcoin would kill virtual currencies in online games, maybe paypal and others. Whatever happens that would have huge collateral damage
I can't wait to see them trying

[Elwar]

They already use the terrorism scare to justify their regulations.

[yocko06]

How long until governments say terrorist use money? is this really a question worth asking?

[ashaw596]

How long until governments say terrorist use money? is this really a question worth asking?

No, actually it was a rhetorical device. It's social commentary on the government and media's tendency towards fear mongering. Its also a half serious, half comedic, and half fearful prediction of the future.

Seriously, my friends all think bitcoin was invented to let the mafia launder money.
(I can't say for certain its not used for this, but invented? No.)

[tclo]

Seriously. Just one of them says they bought a couple weapons using bitcoins and we'll be SCREWED......

Bets anyone?

Yeah good point.  It doesn't take any of the "terrorists" to even buy anything.  Some politicians who are in the pocket of the Big Banks will just say that bitcoin is used for terrorism and kiddy porn (and maybe sex trafficking as well) and then a lot of dumb people will think bitcoin is evil.  That is how the world works, unfortunately.

[Abdussamad]

I am from Pakistan and as everyone knows all Pakistanis are terrorists. So terrorists are already using bitcoins.

[wolverine.ks]

is too hot to actually to do anything about.  Any  regulation or barrier or law will affect other centralized payment systems more than bitcoin.  so bring on the resistance.  It will eliminate the competition.

[yocko06]

FUD

[Coinseeker]

This is why they sent DHS after Dwolla/Gox, instead of the Justice department.  These wheels are already turning and as much has already been said, for anyone willing to see reality for what it is.  

is too hot to actually to do anything about.  Any  regulation or barrier or law will affect other centralized payment systems more than bitcoin.  so bring on the resistance.  It will eliminate the competition.

Delusional thinking.    If anyone thinks that Bitcoin value is where it's at because all these new people believe in the "cause", you too are delusional.  The rise is due to speculation and greed.  Remove that and Bitcoin is back to it's very small core of followers, with a value of $5-10, at best.  And that's only because it will continue to be viable as a black market currency.

[Rampion]

Terrorists all over the world are using USD, thus we need to get rid of it.

Mmmmm... Yeah, flawless logic.

 If anyone thinks that Bitcoin value is where it's at because all these new people believe in the "cause", you too are delusional.  The rise is due to speculation and greed.  Remove that and Bitcoin is back to it's very small core of followers, with a value of $5-10, at best.  And that's only because it will continue to be viable as a black market currency.

$10 x 11,000,000 coins means a $110,000,000 economy. Are you really saying that world's "black market" economy is worth only $110M USD?

LOL

Just FYI: according wikipedia, black market economy amounts to at least 1,800 BILLION $ per year. Yes: $1,800,000,000,000.

If Bitcoin is banned and only "black market" embraces Bitcoin... We are going to +4 digits per coin regardless of what your dear folks at DHS, Justice Department, CIA or FBI say. In fact, if the whole world "black market" economy goes to BTC (which is unrealistic, but it's just to give you a hint of how wrong are your took-from-the-ass calculations), we would be looking at $85,000 per BTC.

Your logic is simply flawed. What about cocaine, marijuana, etc.? They are waaaay cheaper because they are banned by the US, right?

And no, people will not use Bitcoin because they believe in the "cause". They will use Bitcoin because it solves a lot of practical, real life problems.

[CryptoJunky]

I don't think the government has it out for Bitcoin as many believe. Whether or not they do in the future will depend largely on how Bitcoin is portrayed both within and outside of the Bitcoin community.

I like to frame it as a new technology that could bring with it prosperity for societies that help adopt it. It is more of an augmentation to the current financial system than a complete replacement.

Portraying Bitcoin as a straight replacement for fiat currencies and advocating for an abrupt end to the current status quo is more likely to garner negative attention and action towards Bitcoin. Whether or not that attention would be negative or positive in the long term remains to be seen.

[joesmoe2012]

I don't remember Bin Laden or the IRA using many bitcoins, they used bank accounts and smuggled cash. If there is an argument to shut-down bitcoin, the *exact* same argument applies to cash + the bank account system.

This is flawed logic. They are able to regulate cash + the bank system (or so they claim) moreso than they are bitcoin.


Also, they just seized assets of mtgox's for not complying with anti money laundering regulations, so I guess the answer is a few weeks ago is when they start saying terrorists use bitcoins.

[Blueberry408]

Seriously. Just one of them says they bought a couple weapons using bitcoins and we'll be SCREWED......

Bets anyone?

Don't they usually use suitcases of US one-hundred dollar bills? Was the backpack and pressure cooker not paid for in USD? If it's a weapon no one is supposed to own, it doesn't matter what kind of coin was used. Bitcoin's novelty offers scant long-term surety, but it all depends how the community treats it. It could end up being gold, so we still see a prospect in the face of Liberty Reserve, MtGox, and who ever is next. My money would be on OKpay, unless it turns out to be the financial arm of the PRC.

That would suck balls.