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Author Topic: Bitcoin Laws Imminent  (Read 5799 times)
flug
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June 28, 2011, 02:46:44 PM
 #1

Here we go!

http://nerdr.com/bitcoin-laws-imminent-bit-coin-soon-to-be-illegal-in-us/

Quote
This week the US courts service (UScourts.gov) has shown increasing interest in Bitcoins.  Their research is ongoing but hastily scaling-up from where it was last week.

Seems we have new orders from the top.

The question then becomes, who’s first in the Bitcoin firing line?

Bitcoin Miners.
Bitcoin Exchanges.
Bitcoin Wallet Owners.
Bitcoin Commerce.
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DamienBlack
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June 28, 2011, 02:52:32 PM
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Exchanges seems like the easiest target, dealing with all that money. I really doubt we'll see any actual legislation for a few years though. It is possible it gets slipped into some other, unrelated bill sooner then that. But I just don't think bitcoin is really on the radar yet to get real national attention.

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nextnonce
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June 28, 2011, 02:55:00 PM
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This week the US courts service (UScourts.gov) has shown increasing interest in Bitcoins.  Their research is ongoing but hastily scaling-up from where it was last week.
cite a source please?

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bitplane
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June 28, 2011, 02:55:26 PM
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I wonder how this could actually work. Would legislation that affects Bitcoin also affect Facebook's game currency or the Linden Dollar?

I can't imagine that they could rush something through like this
flug
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June 28, 2011, 02:57:27 PM
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This week the US courts service (UScourts.gov) has shown increasing interest in Bitcoins.  Their research is ongoing but hastily scaling-up from where it was last week.
cite a source please?

Good point. The article doesn't.
DamienBlack
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June 28, 2011, 02:57:45 PM
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I wonder how this could actually work. Would legislation that affects Bitcoin also affect Facebook's game currency or the Linden Dollar?

I can't imagine that they could rush something through like this

I think it would be something that involves unregulated money exchanges. That would get to the heart of the difference between bitcoins and game currency. There are lots of places that will sell you some amount of points for cash, but bitcoin is the only place you can turn those "points" back into cash.

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zhalox
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June 28, 2011, 02:58:39 PM
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I just went to that link and searched for "bitcoin" and nothing showed up.  Methinks these people are just trying to spread FUD...

dan_a
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June 28, 2011, 02:59:23 PM
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I wonder how this could actually work. Would legislation that affects Bitcoin also affect Facebook's game currency or the Linden Dollar?

I can't imagine that they could rush something through like this
Courts don't right write legislation, they interpret existing legislation.
So either some aspects of Bitcoin fall foul of existing legislation or the courts can't do anything.



Edited because although courts can right legislation, that's not what I meant...
DamienBlack
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June 28, 2011, 03:00:51 PM
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I wonder how this could actually work. Would legislation that affects Bitcoin also affect Facebook's game currency or the Linden Dollar?

I can't imagine that they could rush something through like this
Courts don't right legislation, they interpret existing legislation.
So either some aspects of Bitcoin fall foul of existing legislation or the courts can't do anything.

Who said anything about courts? I think the OP was referring to the legislative branch.

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Piper67
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June 28, 2011, 03:01:10 PM
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Last time I checked, criminal laws in the US are made by the legislature, not by the courts. Really, that was the best you could come up with?
dan_a
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June 28, 2011, 03:05:36 PM
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Who said anything about courts? I think the OP was referring to the legislative branch.
The OP says that it's the courts service looking at them.
kerogre256
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June 28, 2011, 03:06:36 PM
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I wonder how this could actually work. Would legislation that affects Bitcoin also affect Facebook's game currency or the Linden Dollar?

I can't imagine that they could rush something through like this
Yeah exactly anyway I dont trade currency I trade   'unique number over internet' how they plan to ban  numbers ?? some peopel can call it currency but what is bitcoin from legal point  of view??, from technical its only unique number nothing  more. ONE BIG CAN OF WORM from legal point of view.
jackjack
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June 28, 2011, 03:07:25 PM
 #13

FUD
Source or gtfo

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flug
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June 28, 2011, 03:09:21 PM
 #14

FUD
Source or gtfo

+1
CNMOH
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June 28, 2011, 03:17:22 PM
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I wonder how this could actually work. Would legislation that affects Bitcoin also affect Facebook's game currency or the Linden Dollar?

I can't imagine that they could rush something through like this
Yeah exactly anyway I dont trade currency I trade   'unique number over internet' how they plan to ban  numbers ?? some peopel can call it currency but what is bitcoin from legal point  of view??, from technical its only unique number nothing  more. ONE BIG CAN OF WORM from legal point of view.
Yeah, sorry, people tried that argument with piracy as well. It doesn't work that way.

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June 28, 2011, 03:21:19 PM
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elggawf
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June 28, 2011, 03:22:05 PM
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Look at the other guy's articles on Bitcoin - there's an obvious bias. You'd think someone with a hatred for Bitcoin and news as juicy as the US court service ramping up it's research efforts about Bitcoin would cite some kind of proof. Absent that proof, the logical conclusion is simply someone who hates the idea of Bitcoin and is making shit up.

On the off-chance the author reads this: post some proof. I don't believe in the libertarian, tax-dodging, protect-my-assets-from-the-gubmint bullshit, so show real proof they're moving to functionally outlaw it and you'll have instantly succeeded in getting at least one Bitcoiner to drop it.

^_^
YoYa
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June 28, 2011, 03:28:47 PM
 #18

LOLWUT!?!

http://www.uscourts.gov/SearchResults.aspx?IndexCatalogue=AllIndexedContent&SearchQuery=bitcoin


Oh....heres an idea....let's wait for either a single attempt at prosecution or legislation before hopping to conclusions!

FUCK FUD!
FUCK YOU!
tymothy
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June 28, 2011, 03:29:30 PM
 #19

Well wow, it was reported on nerdr with no evidence, TOTALLY TRUE.
caveden
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June 28, 2011, 03:35:42 PM
 #20

At this stage, a violent attack from a big government like that would put bitcoin in all mainstream TV shows.
It's possible that the more abiding of governments subjects start to run away from the technology, but such publicity would attract those who are not that abiding. I'm talking about this: http://falkvinge.net/2011/06/16/bitcoins-four-drivers-part-one-unlawful-trade/

So that would be shooting on their own feet.

And about the blogger of OP, I think he just wants to provoke bitcoin enthusiasts to see their reactions.

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