2013-06-17 G8 Summit Magazine

[Ares]

Quote from John Lyons, CEO of the International Cyber Security Protection Alliance:

"As highlighted by the latest initiative by the United States to arrest some of the suspects that were involved in Liberty Reserve (a group indicted for money laundering that ran a $6 billion worldwide operation out of Costa Rica), alternative payment mechanisms, such as Bitcoin and a host of others, can enable criminal and terrorist groups to launder money and fund their operations. Governments of the world have the ability right now to ban these payment mechanisms."

From page 60: http://www.newsdeskmedia.com/files/G8-UK-2013.pdf

Anyone know much about him or who might take his suggestion seriously?

[1714975402]

1714975402

[RodeoX]

Quote from John Lyons, CEO of the International Cyber Security Protection Alliance:

"As highlighted by the latest initiative by the United States to arrest some of the suspects that were involved in Liberty Reserve (a group indicted for money laundering that ran a $6 billion worldwide operation out of Costa Rica), alternative payment mechanisms, such as Bitcoin and a host of others, can enable criminal and terrorist groups to launder money and fund their operations. Governments of the world have the ability right now to ban these payment mechanisms."

From page 60: http://www.newsdeskmedia.com/files/G8-UK-2013.pdf

Anyone know much about him or who might take his suggestion seriously?

Don't know? But this is laughable:
"Governments of the world have the ability right now to ban these payment mechanisms."
He is totally wrong about that. In fact, I double dog dare him.

[kiba]

DATE NEED FIXING!

[mitty]

Quote from John Lyons, CEO of the International Cyber Security Protection Alliance:

"As highlighted by the latest initiative by the United States to arrest some of the suspects that were involved in Liberty Reserve (a group indicted for money laundering that ran a $6 billion worldwide operation out of Costa Rica), alternative payment mechanisms, such as Bitcoin and a host of others, can enable criminal and terrorist groups to launder money and fund their operations. Governments of the world have the ability right now to ban these payment mechanisms."

From page 60: http://www.newsdeskmedia.com/files/G8-UK-2013.pdf

Anyone know much about him or who might take his suggestion seriously?

Don't know? But this is laughable:
"Governments of the world have the ability right now to ban these payment mechanisms."
He is totally wrong about that. In fact, I double dog dare him.

All they need to do is say "Bitcoin is illegal", and boom, mainstream adoption is gone.  It's not about making it technically impossible to use; it's about scaring the majority of the population away from using it.
Unfortunate, but true.

[cypherdoc]

Quote from John Lyons, CEO of the International Cyber Security Protection Alliance:

"As highlighted by the latest initiative by the United States to arrest some of the suspects that were involved in Liberty Reserve (a group indicted for money laundering that ran a $6 billion worldwide operation out of Costa Rica), alternative payment mechanisms, such as Bitcoin and a host of others, can enable criminal and terrorist groups to launder money and fund their operations. Governments of the world have the ability right now to ban these payment mechanisms."

From page 60: http://www.newsdeskmedia.com/files/G8-UK-2013.pdf

Anyone know much about him or who might take his suggestion seriously?

Don't know? But this is laughable:
"Governments of the world have the ability right now to ban these payment mechanisms."
He is totally wrong about that. In fact, I double dog dare him.

All they need to do is say "Bitcoin is illegal", and boom, mainstream adoption is gone.  It's not about making it technically impossible to use; it's about scaring the majority of the population away from using it.
Unfortunate, but true.

i declare Bittorrent illegal.

[Ares]

Quote from John Lyons, CEO of the International Cyber Security Protection Alliance:

"As highlighted by the latest initiative by the United States to arrest some of the suspects that were involved in Liberty Reserve (a group indicted for money laundering that ran a $6 billion worldwide operation out of Costa Rica), alternative payment mechanisms, such as Bitcoin and a host of others, can enable criminal and terrorist groups to launder money and fund their operations. Governments of the world have the ability right now to ban these payment mechanisms."

From page 60: http://www.newsdeskmedia.com/files/G8-UK-2013.pdf

Anyone know much about him or who might take his suggestion seriously?

Don't know? But this is laughable:
"Governments of the world have the ability right now to ban these payment mechanisms."
He is totally wrong about that. In fact, I double dog dare him.

All they need to do is say "Bitcoin is illegal", and boom, mainstream adoption is gone.  It's not about making it technically impossible to use; it's about scaring the majority of the population away from using it.
Unfortunate, but true.

i declare Bittorrent illegal.

the difference is that Bittorrent gives you what you want so people want to use it. If governments say Bitcoin is banned, adoption decreases and less people use it because it no longer gives you what you want, be it a safe store of value or medium of exchange for legitimate goods

[BTCLuke]

the difference is that Bittorrent gives you what you want so people want to use it. If governments say Bitcoin is banned, adoption decreases and less people use it because it no longer gives you what you want, be it a safe store of value or medium of exchange for legitimate goods

+1

There is a difference until the day we've reached a point of adoption that is far larger than bittorrent's level of adoption, including millions of vendors.

There's one other thing too: Bittorrent truly has no CPOF: Until we get distributed exchanges in working order, we do.

Even without declaring bitcoin itself illegal, FINCen & a few counterparts in other countries could simply conspire to shut all of the major exchanges down. Poof, just like that the world would be forced to use localbitcoins and barter with their neighbors for them... And at that point what vendor would feel they are worthwhile anymore?

Therefore bitcoin's very survival desperately depends on a P2P exchange with no CPOFs at all. If we don't get one this year I fear our bitcoins will be worthless next year.

[hacknoid]

Wow... read more after that:

If treasuries and financial institutions around the world were to block those transactions and permit only legitimate currencies to be used on the internet through regulated payment service providers and cards (such as Visa, MasterCard and American Express), then the flow of many billions of dollars to criminal groups would be stemmed.
...
If the leaders of the European Union and United States could be convinced to take a lead on these initiatives, that would be a huge contribution to making the internet a safe place for financial transactions. At the same time, it would also strike a blow against those who would try to destroy the fabric of our the world’s well-being.

Where to start on that?  This guy has to be involved in banking somehow.  To think that allowing Visa, MC, AE to control everything on the internet is the only way to make it a safe place for financial transactions... really?

... and I guess if you do away with Bitcoin then no criminal groups would be able to be funded.  Phew - that WOULD be a relief!   

What's scary is this is directed at the G8 leaders.

[cypherdoc]

Quote from John Lyons, CEO of the International Cyber Security Protection Alliance:

"As highlighted by the latest initiative by the United States to arrest some of the suspects that were involved in Liberty Reserve (a group indicted for money laundering that ran a $6 billion worldwide operation out of Costa Rica), alternative payment mechanisms, such as Bitcoin and a host of others, can enable criminal and terrorist groups to launder money and fund their operations. Governments of the world have the ability right now to ban these payment mechanisms."

From page 60: http://www.newsdeskmedia.com/files/G8-UK-2013.pdf

Anyone know much about him or who might take his suggestion seriously?

Don't know? But this is laughable:
"Governments of the world have the ability right now to ban these payment mechanisms."
He is totally wrong about that. In fact, I double dog dare him.

All they need to do is say "Bitcoin is illegal", and boom, mainstream adoption is gone.  It's not about making it technically impossible to use; it's about scaring the majority of the population away from using it.
Unfortunate, but true.

i declare Bittorrent illegal.

the difference is that Bittorrent gives you what you want so people want to use it. If governments say Bitcoin is banned, adoption decreases and less people use it because it no longer gives you what you want, be it a safe store of value or medium of exchange for legitimate goods

first of all, that's a huge IF.  in terms of coordinated gov't action worldwide against Bitcoin.  there happens to be varied interests in case you hadn't noticed.

second, i submit that there's much more worldwide sentiment to have a form of money that holds it's value compared to the fiat we're using now.

[lucif]

Do the gox tired of living? Wtf?

[lunarboy]

Vested interests either side of the table vary massively.---- Removal of the Dollar as the world Currency.

IF USA and UK ban Bitcoin because of its potential = China, Russia want it.   Europe is the world battlefield once again.

There's too much at stake for all concerned, too much power to be won and lost.
My guess ...All will sit on the fence until the 'Genie of Virtual currencies' has revealed its true potential. Then as usual a massive land grab by those best positioned.

[RodeoX]

 The banks that we are required to use now are known to be involved in all manor of criminal activity. They launder money, cheat their customers and the government. That is a FACT. If bitcoins were to be made illegal under the pretext that it will protect us from terror or criminals, then I would continue to use them anyway.

[kjlimo]

....
i declare Bittorrent illegal.

Now lets see you enforce it

To be fair, the fact that some things are declared illegal is an influence on whether I decide to do it.

[420]

Quote from John Lyons, CEO of the International Cyber Security Protection Alliance:

"As highlighted by the latest initiative by the United States to arrest some of the suspects that were involved in Liberty Reserve (a group indicted for money laundering that ran a $6 billion worldwide operation out of Costa Rica), alternative payment mechanisms, such as Bitcoin and a host of others, can enable criminal and terrorist groups to launder money and fund their operations. Governments of the world have the ability right now to ban these payment mechanisms."

From page 60: http://www.newsdeskmedia.com/files/G8-UK-2013.pdf

Anyone know much about him or who might take his suggestion seriously?

Don't know? But this is laughable:
"Governments of the world have the ability right now to ban these payment mechanisms."
He is totally wrong about that. In fact, I double dog dare him.

not as much as how they banned alcohol in the prohibition era (USA)