Bitcoin Laws Imminent

[finnthecelt]

I don't really care for the http://nerdr.com's tone. Everyone affiliated with Bitcoin is "driven by greed" according to the post. But that's true of any business venture.

As others have mentioned, the search for anything 'bitcoin' related on the site referenced by the 'article' turns up nothing. I agree, the nerdr articles relating to bitcoin are just trollbait. I replied in my usual tone, just so people would realize he's talking out of his ass.

He states his intent in his reply to you:

This article highlights US laws are imminent based upon an increase in research activity into Bitcoin by the US courts service.

It WAS total bait.

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[xane]

http://i167.photobucket.com/albums/u160/Isepick/uscourts.jpg

ZOMG way to tip them off!

[spruce]

Some people think that national governments are extremely corrupt and are engaged in huge black projects funded by drug money etc etc.

In such a case, wouldn't they be interested in *using* bitcoin rather than banning it? With a suitable PR covering of righteous indignation against the illegal uses but nothing actually effective getting done that shuts bitcoin down?

[saqwe]

Some people think that national governments are extremely corrupt and are engaged in huge black projects funded by drug money etc etc.

In such as case, wouldn't they be interested in *using* bitcoin rather than banning it? With a suitable PR covering of righteous indignation against the illegal uses but nothing actually effective getting done that shuts bitcoin down?

in that case th price would go through the roof

[dennis_sweden]

Some people think that national governments are extremely corrupt and are engaged in huge black projects funded by drug money etc etc.

In such a case, wouldn't they be interested in *using* bitcoin rather than banning it? With a suitable PR covering of righteous indignation against the illegal uses but nothing actually effective getting done that shuts bitcoin down?

"Vienna-based UNODC Executive Director Antonio Maria Costa said in an interview released by Austrian weekly Profil that drug money often became the only available capital when the crisis spiralled out of control last year.

"In many instances, drug money is currently the only liquid investment capital," Costa was quoted as saying by Profil. "In the second half of 2008, liquidity was the banking system's main problem and hence liquid capital became an important factor.""

http://www.reuters.com/article/2009/01/25/financial-un-drugs-idUSLP65079620090125

"Antonio Maria Costa, head of the UN Office on Drugs and Crime, said he has seen evidence that the proceeds of organised crime were "the only liquid investment capital" available to some banks on the brink of collapse last year. He said that a majority of the $352bn (£216bn) of drugs profits was absorbed into the economic system as a result."

http://www.guardian.co.uk/global/2009/dec/13/drug-money-banks-saved-un-cfief-claims

[Litt]

Some people think that national governments are extremely corrupt and are engaged in huge black projects funded by drug money etc etc.

In such a case, wouldn't they be interested in *using* bitcoin rather than banning it? With a suitable PR covering of righteous indignation against the illegal uses but nothing actually effective getting done that shuts bitcoin down?

What makes you think that corruption = drug money? Are you so brainwashed that you automatically associate things? What do drug lords have to gain from government projects and are they in position to gain most from whatever the project may be? If not them, who would be the one to gain the most from it? Are you ever going to ask the questions that really matter?

[dennis_sweden]

Some people think that national governments are extremely corrupt and are engaged in huge black projects funded by drug money etc etc.

In such a case, wouldn't they be interested in *using* bitcoin rather than banning it? With a suitable PR covering of righteous indignation against the illegal uses but nothing actually effective getting done that shuts bitcoin down?

What makes you think that corruption = drug money? Are you so brainwashed that you automatically associate things? What do drug lords have to gain from government projects and are they in position to gain most from whatever the project may be? If not them, who would be the one to gain the most from it? Are you ever going to ask the questions that really matter?

Due to the massive funds involved in drugs, a lot of corruption occurs in connection with drugs. Gary Webb exposed a CIA operation which sold cocaine from a South American guerilla to LA gang members which in turn exploded the crack epidemic. Recently, planes involved in CIA transports of suspected "terrorists" to and from secret detention centres have been proved to transport cocaine. Afghan heorin, the amount of corruption is immense, Karzai's brother is widely accepted to be a very major actor in that trade. In the 80ies, much of the construction in Miami would not have taken place in absence of cocaine trade.

Of course corruption takes place in many other spheres; in Italy the Comorra control waste management and "dispose" of the waste in "unorthodox" manners, and in some areas cancer prevalence has increased by 30%. The control could not occur without collusion with parts of the authorities. The Comorra have even invested some money in the resurrection of the World Trade Centre.

EDIT: And then there is Mexico too.

The crossed out line is due to no actual evidence; I just checked.

[Tasty Champa]

[Swishercutter]

someone from the uscourts.gov domain visited my blog on Jun 8 arriving from http://news.ycombinator.com/item?id=2632671

other than that, in the past 90 days I've also seen one of each from:
nyc.gov
usbr.gov   
nasa.gov   
state.gov   
fcc.gov   
va.gov

I read that ycombinator site regularly (Hacker news)...the comments lead me to believe most there are anti-bitcoin.

[PatrickHarnett]

The USA something is looking at bitcoin - so what?  The US is a "bit" player in this, so the 90%+ rest of the world won't care.

Gox in Japan, TH in Chile, US courts in US.

[qualia8]

The USA something is looking at bitcoin - so what?  The US is a "bit" player in this, so the 90%+ rest of the world won't care.

Gox in Japan, TH in Chile, US courts in US.

True, but the US is very influential in monetary and banking policy worldwide.  Why do you think oil is traded in dollars?  It's also true that the many investors / miners are US-based, and the US can disallow wires to/from institutions with any ties to bitcoin exchanges, disallow vendors accepting bitcoin, etc.  Let's not lie to ourselves: it would *suck*!

Did you see the Alphaville piece?  Many of the accounts at MtGox were actually professional investors, dipping a toe in.  If it's illegal, they're gone.

The currency will survive, of course.  But what will be the value?  How useful will it be to a US citizen if you're not interested in drugs, weapons, or porn?

I think there's a lot of willful blindness here b/c we all have so much invested.  Maybe I should stop posting and go donate to EFF (in $, not in BTC anymore, unfortunately).

[Batouzo]

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

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.

Although, it would not be too surprising if the land of the free would deny yet another basic freedom to own citizens

[sebdude420]

FUD
Source or gtfo

+1

+1 = 4

[PatrickHarnett]

The USA something is looking at bitcoin - so what?  The US is a "bit" player in this, so the 90%+ rest of the world won't care.

Gox in Japan, TH in Chile, US courts in US.

True, but the US is very influential in monetary and banking policy worldwide.  Why do you think oil is traded in dollars?  It's also true that the many investors / miners are US-based, and the US can disallow wires to/from institutions with any ties to bitcoin exchanges, disallow vendors accepting bitcoin, etc.  Let's not lie to ourselves: it would *suck*!

US thinks they are still influential (got bigger bombs), but the picture from outside the boundary is quite different.  There is a lot more money elsewhere in the world and the US owes too much.  It's still has a look of "decline and fall", and as long as the US Treasury can convince the debt holders to keep buying, the currency won't collapse (not in their interest to do so).  That was the case before the GFC, but we might be trading oil in CNY or some other denomination eventually (carefully does not put a date on it - waits for a bit more flaming - fun forum community)

[MertonCage]

that story has 0% credibility. it would survive for no more than 10 seconds in a newsroom, but it's got 3 pages here. oh well.

what's a FUD?

[elggawf]

what's a FUD?

F.U.D..

[finnthecelt]

that story has 0% credibility. it would survive for no more than 10 seconds in a newsroom, but it's got 3 pages here. oh well.

what's a FUD?

Fear, uncertainty, and doubt.

[muscles]

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?

this

[qed]

People should stop trowing ideas out their a$$ and try to convince users making it looks like an article.

[finnthecelt]

People should stop trowing ideas out their a$$ and try to convince users making it looks like an article.

Yes, this guy intentionally mislead people so that he could use that emotion to create debate.

When asked in his comments section he to provide sources he simply stated they were hard to come by therefor you should respect that. "Just a heads up". Sorry but that doesn't cut it.

And I will NEVER trust anyone who defers to "what will the children think" to support their argument. Using children to support one's arguments is as cowardly as you can get. Highly manipulative.