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Author Topic: German "der Spiegel" (online): Bitcoin might replace LibertyReserve  (Read 1327 times)
Ichthyo (OP)
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May 29, 2013, 03:57:23 PM
Last edit: May 29, 2013, 04:09:23 PM by Ichthyo
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http://www.spiegel.de/netzwelt/netzpolitik/online-waehrung-warum-bitcoin-liberty-reserve-ersetzen-koennte-a-902496.html


Its just a "regional" newspaper (as in: its not a US newspaper).
But its one of the leading german magacines, so this is 1st class main stream media coverage for germany.

Quote
Auch wenn Liberty Reserve nicht nur von Kriminellen genutzt wurde, sondern auch von Menschen in Ländern, in denen Firmen wie Paypal oder Western Union keine oder nur eingeschränkte Dienste anbieten: Staaten wollen wissen, wer wem welches Geld schickt. Es könnte sich dabei ja um Schwarzgeld handeln, um Einnahmen aus kriminellen Geschäften oder um Finanzierung von Terrorismus.

Liberty Reserve hat dieses Anliegen gezielt unterlaufen. Für die Ermittler ist das Aus der Plattform ein Erfolg. Beim Online-Bezahlsystem Liberty Reserve gab es eine zentrale Anlaufstelle, eine Website, Profiteure mit Luxusautos, denen die Staatsgewalt zu Leibe rücken konnte. Bei anderen Zahlsystemen ist das schon schwieriger.

[.. in spite of LibertyReserve being used not by criminals solely, but also by people from countries wehre companies like Paypal or Wetern Union offered no or only limited services: the Governments want to know, who sends which money, and to whom. Theoretically it could be illegal payments, revenue from criminal business or terrorism financing.

Liberty Reserve deliberately subverted this claim [of the governements to know...]. For the investigators, the shutdwon of the platfrom is a success. The online payment system Liberty Reserver had one central point of service, one website, distinct benefitors with luxory cars, on which the powers of the state come down. With other payment systems, this might be somewhat more dificult...]

(note the subtle irony between the lines)

The rest of the article goes on to mention the Hawala networks, and then bitcoin as alternative to Liberty Reserve. It closes to mention Kino.to, zerocoin and filesharing and how the spectacular take-down of some platfroms did not end the questionable activities themselves

Personally I'd judge this coverage as accurate and neutral
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