Liberty Reserve shutdown is a boost for Bitcoin?

[trepper]

 That's when the strong prosper and the weak perish.

Like casino gamblers, the libertarian uneducated kids always think they will be the strong ones  

[escrow.ms]

American govt is crossing their limits, They just want to control whole world.

For those who are comparing bitcoin with American dollar (cash) and saying it's a p2p and US govt won't do anything are fool.
If Libertyreserve was hub of criminal payments, Bitcoin is heaven. It was also designed for high anonymity like LR.

[NewLiberty]

The US Government want everyone to use the US Dollar for any kind of trade that involves international movements, its good for the dollar.

If we think this latest action is bad, think of what happened when a certain middle eastern dictator decided to start selling his oil in Euros rather than dollars?  He's dead now!

I really don't think the price is going to shoot up much until all this uncertainty is removed, and that isn't going to happen until the US Gov gets what it wants.  We are going to be here for a while!

The US Government is not a person, its about 22 million people, and doesn't think with one mind.  Not even close.
There are quite a few in that government that really love Bitcoin, imagine that!  Think again before you pretend to speak for that population, or for the population of Bitcoin users.

If you see it as a battle, it may be one of those battles that you win by giving in, unless you would prefer that the victory go to some successor of Bitcoin rather than Bitcoin.
Not being naive, we can assume that there are some that will make their personal quest to fight all government, flaunt the laws, and find themselves sharing bunks with the Liberty Reserve folks.  Then we will have another thread about whether and how that prosecution was "bad for Bitcoin".

This sort of prosecution IS bad, because it will scare honest law abiding folks away.  They do not want to be associated with criminals.  If in the hearts and minds of the common person Bitcoin is nothing but druggies, pedos and dissatisfied revolutionaries, then the average person will have nothing to do with it.

There is far less than 1% adoption.  We may not even have 1% awareness, and those that are aware, are reading news like this.  So consider well how your messages are heard by the world of people that may someday read them.

[600watt]

American govt is crossing their limits, They just want to control whole world.

For those who are comparing bitcoin with American dollar (cash) and saying it's a p2p and US govt won't do anything are fool.
If Libertyreserve was hub of criminal payments, Bitcoin is heaven. It was also designed for high anonymity like LR.

they DO control the whole world. or at least most of it. i agree with your statement, though.

[600watt]

(i did post this in another thread, but it applies:)


i fear the LR bust will have bad consequences mid term. the guys that took LR down will make some big career improvments now. they are getting all this media coverage worldwide. they are heros. their self esteem will skyrocket. they are on the trip of their lives. soon the LR guys will be locked up forever. but the feds want more. they don´t want to sober up, they want more of this. they will look out for more prey. yep bitcoin. they don´t care if it´s decentralized. they will go for the exchanges instead. feds always get what they want. always. (always!) the merit will only be greater when they take down bitcoin, since anyone told them it´s impossible. never underestimete over-eager feds.

i think karpeles surely didn´t like the LR bust. he will contact kim dotcom soon...

[HappyBitCoinUser]

So BTC was up around $1 Billion and LR was around $6 Billion?

If all those people migrate to BTC could we see BTC increase by x6?

Then when the US Government makes it 90% impossible for Americans to exchange, will the value crash to nothing?

Japan (where MtGox is located) their economy ain't doing that well either, probably ahead of US for economic collapse and could probably get shut down there by Japan Government if not cockblocked by US Government already. Most of the BTC exchanges are in USD not GBP or Euro, right?

[samson]

Lots of non US exchanges are refusing to service US customers.

I wonder if this is going to be the future for MtGox - kick out all the Americans ?

[escrow.ms]

So BTC was up around $1 Billion and LR was around $6 Billion?

If all those people migrate to BTC could we see BTC increase by x6?

Then when the US Government makes it 90% impossible for Americans to exchange, will the value crash to nothing?

Japan (where MtGox is located) their economy ain't doing that well either, probably ahead of US for economic collapse and could probably get shut down there by Japan Government if not cockblocked by US Government already. Most of the BTC exchanges are in USD not GBP or Euro, right?

I don't think so, because peoples don't have those funds, they are seized and yes that's true.

[escrow.ms]

Lots of non US exchanges are refusing to service US customers.

I wonder if this is going to be the future for MtGox - kick out all the Americans ?

They are refusing US customers because if they want to do business with americans they need to register their business in america and comply with their rules and regulations.

So if MTgox worked according to US law and regulations nothing will happen, otherwise they had to refuse US customers or probably they can get seized by US govt.

[samson]

Lots of non US exchanges are refusing to service US customers.

I wonder if this is going to be the future for MtGox - kick out all the Americans ?

They are refusing US customers because if they want to do business with americans they need to register their business in america and comply with their rules and regulations.

So if MTgox worked according to US law and regulations nothing will happen, otherwise they had to refuse US customers or probably they can get seized by US govt.

Americans can wire any amount of money they want into MtGox once verified so they aren't being refused.

[Zarathustra]

No police, no rules, no law...only the strong survive.

Libertarianism is not anarchy. Libertarian system has police and law. But no more.

Yes, and that is a joke, but a bad one. Either you're free (self-sufficient Anarchy) or enslaved (Patriarchy). Patriarchy (state/religion) is by definition expanding (always and by definition financed on credit an organised violence).

[Birdy]

Yes, and that is a joke, but a bad one. Either you're free (self-sufficient Anarchy) or enslaved (Patriarchy). Patriarchy (state/religion) is by definition expanding (always and by definition financed on credit an organised violence).

Because having only black and white is so helpful.
Being 100% free doesn't exist. Physics is a regulator you cannot defy.

[worldinacoin]

I hate how the major news sites report the incident, they seemed to be instigating that Bitcoin is in cahoots.

[Birdy]

I hate how the major news sites report the incident, they seemed to be instigating that Bitcoin is in cahoots.

Ya :/
A lot of people will think, "Oh Bitcoin!? Wasn't that mentioned with drugs/as ponzi before? Will be down next most likely"

[samson]

I hate how the major news sites report the incident, they seemed to be instigating that Bitcoin is in cahoots.

I remember reading the same old crap about 18 years ago when the internet started becoming popular.

First they'd talk about the availability of porn on the Web, then a couple of sentences later they were blurring the lines by mentioning underage porn. Of course underage porn is already illegal but that didn't matter.

I notice that every article on the LR thing talks about underage porn - is there really any proof of this or is it intended to induce condemnation by readers ?

What I've noticed over the years is that in order for something to be 'tarnished' it needs to be linked to something nefarious. One way is to put out stories which start talking about one thing and then associate it with something completely different and much worse. These days it's still underage porn but terrorism has been added to the list.

I expect that some day soon a 'terrorist' will be caught using Bitcoin attempting to buy weapons or fund some atrocity. This will probably be an FBI 'sting' operation like the many similar incidents over the past few years whereby some complete 'retard' has been groomed on facebook to buy imaginary weapons from undercover FBI agents. It's only a small stretch to involve Bitcoin in the next bust.

[worldinacoin]

They were linked to child porn among others, I guess this will be something totally unacceptable to the public.

[escrow.ms]

Americans can wire any amount of money they want into MtGox once verified so they aren't being refused.

Yes i know, i was talking about other non US exchangers.

[idev]

...if they are guilty of something bad enough, maybe it is good that they are stopped?

They are guilty of NOT being Obedient Snitches.
A grave sin in the eyes of the Government and some commenters on this thread...

Exactly

[escrow.ms]

They were linked to child porn among others, I guess this will be something totally unacceptable to the public.

Who LR?
probably but, bitcoin is more popular on TOR Deepweb (The hub of child porn).
and yes cp is unacceptable but still peoples are running TOR nodes and helping them.

[Rampion]

(i did post this in another thread, but it applies:)


i fear the LR bust will have bad consequences mid term. the guys that took LR down will make some big career improvments now. they are getting all this media coverage worldwide. they are heros. their self esteem will skyrocket. they are on the trip of their lives. soon the LR guys will be locked up forever. but the feds want more. they don´t want to sober up, they want more of this. they will look out for more prey. yep bitcoin. they don´t care if it´s decentralized. they will go for the exchanges instead. feds always get what they want. always. (always!) the merit will only be greater when they take down bitcoin, since anyone told them it´s impossible. never underestimete over-eager feds.

i think karpeles surely didn´t like the LR bust. he will contact kim dotcom soon...

Cool. Let's them try. They will fail HARD. And we will laugh.