What could be the trigger to push BTC above US $500?

[buysellbitcoin]

picture this: Bitcoin is used to fund some terrorists who do another Boston Bombing

Really, is it issue of Bitcoin ?

Cheers

[laserwolf]

Normal money is traceable. The anonymity of Bitcoin makes it attractive to terrorists, unfortunately.

[Benson Samuel]

Normal money is traceable. The anonymity of Bitcoin makes it attractive to terrorists, unfortunately.

Bitcoin is way less anonymous than cash. You should read up a bit on this.

Bitcoin is pseudoanonymous, which means that if you wanna do something really dangerous, better to use cash.

[laserwolf]

I can't think how a good mixing service can be cracked.

[Benson Samuel]

I can't think how a good mixing service can be cracked.

Well, unless something like zerocoin comes in, technically, the mixing service is a brick and mortar store that can be taken down quite easily.

[laserwolf]

a good one, like BlockChain.info, deletes it logs after a few hours. so taking it down won't help.

[Benson Samuel]

a good one, like BlockChain.info, deletes it logs after a few hours. so taking it down won't help.

Edit: Blockchain.ino can be taken down.

well, i still do not see it crashing down to US $5  .. May sustain around 50 or 80+ for sure.

[buysellbitcoin]

I can't think how a good mixing service can be cracked.

Mixing service just makes it a bit ( may be very as of now  ) hard to trace the coins, but frankly speaking with bitcoin protocol I do not find it impossible to trace. The thing is that at the moment there is no real motivation for some one to write a tool to trace mixed coins transaction. If some one ( Government or any other thing ) wants it is possible to do that.

Bitcoin is not anonymous, at least as long as I see it

As far as normal money concerns, normal money is not easily traceable, the real advantage bitcoin gives is it allows you to store a good amount of wealth without need of much physical space. It is just like its much easy to hide it in black and dark than cash. But as far as trace ability  concerns, well,  bitcoin is much more convenient to trace than cash.

Cheers

[Benson Samuel]

I can't think how a good mixing service can be cracked.

Mixing service just makes it a bit ( may be very as of now  ) hard to trace the coins, but frankly speaking with bitcoin protocol I do not find it impossible to trace. The thing is that at the moment there is no real motivation for some one to write a tool to trace mixed coins transaction. If some one ( Government or any other thing ) wants it is possible to do that.

Bitcoin is not anonymous, at least as long as I see it

As far as normal money concerns, normal money is not easily traceable, the real advantage bitcoin gives is it allows you to store a good amount of wealth without need of much physical space. It is just like its much easy to hide it in black and dark than cash. But as far as trace ability  concerns, well,  bitcoin is much more convenient to trace than cash.

Cheers

Agreed, Bitcoin is better for in-game micropayments, small and medium businesses, export/ import and many other applications.

[skysnap]

The problem with indian govt and RBI approaching bitcoin is like rich people using it as a way to avoid tax. Well they can do that directly by bribing, i don't see this happening for terrorism. In fact why would anyone use bitcoin when they can use cash in small chunks like say below 1 lakh per account and then rotating it for that use. it is not hard for them to do such as many brokers and real estate agents use such strategies for years.

[AbraxasCcs]

Normal money is traceable. The anonymity of Bitcoin makes it attractive to terrorists, unfortunately.

Cash is about normal money. Cash is anonymous and untraceable too.

[Benson Samuel]

I can't think how a good mixing service can be cracked.

When is your SMS service to be launched to the public BTW? It is very cool.

[laserwolf]

Why thanks Benson.

I created it as a private service for my own trading.
not sure about making it public as of now.

for others, the service basically sends an sms when BTCUSD moves in steps of $5. well reputed peeps can PM me to be included.

[Street Jammer]

Less coins per block , Paypal , visa / any country announce BTC as their national currency might take take to $500