A disadvantage of NOT being recognized as currency by governments

[bitlotto]

only remaining anonymous because I promised before the conversation expecting some type of business deal

You have no responsibility to someone trying to commit fraud. If I tell you to promise to keep a secret, and then reveal to you that my secret is that I am a lifetime conman or a serial killer, you do not have a responsibility to keep my secret.

On the contrary, you have a responsibility to let people know who is attempting this fraud, so that people may protect themselves from this scum. He's likely conning unwitting people in the Bitcoin Marketplace right now.

I don't know. They didn't actually do it but expressed their interest in doing it. I honestly don't know what to think. Part of me would feel guilty when I agreed to speak candidly the other part tells me to say something to protect others. But even then they would just change username anyways, so would it actually help? Hmmm.....I need time and help to think this one through... I DO NOT like breaking my word!

[bitlotto]

Ok, the person has contacted me in a panic by email. He is really sorry and having anxiety attacks about it. From looking at his posts he doesn't seem to be scamming people. He felt desperate and explained why. His identity isn't really anonymous and after looking through some stuff it looks like they were telling the truth. He has promised to not try it again and that he was in a moment of weakness and thought it would fix his situation.

I know he could be lying. But I worry what if he wasn't and I told? But he truly seem scared of an internet mob and is sorry. I'm satisfied and I'll just have to have faith he was honest in the end. And to that person: Learn from this. Making bad choices WILL catch up to you. And keep your promise or you will make a fool of us both.

And now back to our scheduled discussion....

[bitcoin0918]

Ok, the person has contacted me in a panic by email. He is really sorry and having anxiety attacks about it.

He's only in a panic about being caught. Where were the anxiety attacks when he was hatching the scheme?

But I worry what if he wasn't and I told?

It will be up to him to recover his reputation through honest transactions.

[bcearl]

I think it is more like stealing Euros or Yens in America. It's not the officially recognized currency, businesses are not forced by law to accept them. But does it make stealing them irrelevant? Of course not!

[bitlotto]

Ya for sure. I think once we start seeing people go to jail for stealing BTC the people who think it's "just world of warcraft type coins" will probably go away once they see that there is real consequences for their actions...

[bcearl]

Breaking into computers and vandalism are crimes anyway, no matter whether anybody recognizes the value of any data.

[tymothy]

I think it is more like stealing Euros or Yens in America. It's not the officially recognized currency, businesses are not forced by law to accept them. But does it make stealing them irrelevant? Of course not!

...and whether or not bitcoin is a currency at all is irrelevant. Artwork isn't recognized as currency, nor is its exact value determinable but stealing them isn't irrelevant!! So long as the government recognizes that Bitcoin has SOME value as an asset, stealing it can be dealt with just as seriously as theft of a piece of art.

[bcearl]

I think it is more like stealing Euros or Yens in America. It's not the officially recognized currency, businesses are not forced by law to accept them. But does it make stealing them irrelevant? Of course not!

...and whether or not bitcoin is a currency at all is irrelevant. Artwork isn't recognized as currency, nor is its exact value determinable but stealing them isn't irrelevant!! So long as the government recognizes that Bitcoin has SOME value as an asset, stealing it can be dealt with just as seriously as theft of a piece of art.

Yes, and the value is objectively measurable, because you can argue that it takes a certain amount of value ($15+ or so) to get new bitcoins (because you can't create them out of thin air technically, and people want that much money for them).

[conspirosphere.tk]

  Let me see: someone feels guilty of not paying taxes on Bitcoin? This is beyond ridicolous. What's the whole point of creating an anarchist cryptogeek currency? To go kissing Uncle Scam's ass once again? Puh-leeaze! (Feel free to confess your torts to the IRS if that will make you feel better, though).

About the "protection" of the law, it's not intended for you. That should be clear at this point.

[phillipsjk]

Some people believe that governments can help people pool their resources to achieve thing they or the free-market wouldn't achieve alone. It is obvious that with the unclear status of bitcoin everyone can use their discretion.

You choose if you want to report it as capital gains, hobby income, or commodity trading. If the Government comes around and makes some kind of ruling on the issue, you can re-file your taxes with the corrected numbers. Refiling may be more painful if you actually owe a large sum of money you did not declare already.

[Jeremy West spendbitcoins.com]

Remember folks: thou shall not steal. It's fun when you do it to other people, it's not fun when other people do it to you.

Thou shalt not steal. The government hates competition.