Bitcoin at the US Senate

[bythesea]

Tomorrow it there is going to be some talk about Bitcoins we will know the future. Price might drop drastically or raise. What ever happens I still haven't my amount that i'm using to have fun on market

[haightst]

I was poking through the letters from Homeland Security to the Senate and I found this Tcash Ads/BitInstant issue:

http://cointext.com/us-seizes-funds-from-bitinstant-partner/

The Missing and Exploited Children rep is also on the panel:

http://www.ottawacitizen.com/business/Anonymous+deep+frontier+child+exploitation+conference+told/9175718/story.html

ok what's new? wattt organized crime in New Jersey?..no way i can't believe this! 

[Blippable]

What exactly are they going to talk about at the Senate meeting? I'm not from US so did not follow any of that news... tnx

[whyeyeschoicedotcom]

This is my first time hearing about Bitcoin at the US Senate...I sure hope they see the big picture as it pertains to Bitcoin and the benefits it will bring to society. I will be sure to tune in and see how thing pan out!

[solex]

What exactly are they going to talk about at the Senate meeting? I'm not from US so did not follow any of that news... tnx

It's just an investigation. A learning process for Senators about a new economic phenomenon.

A report of their findings is probably months away, legislation (which needs to be initiated in Congress) - a year or two after that. Other countries may follow this course independently or use anything coming out of the US to shape their own legislative response.

Meanwhile Bitcoin grows and the price fluctuates based upon market conditions and sentiment as usual.

[haightst]

I was poking through the letters from Homeland Security to the Senate and I found this Tcash Ads/BitInstant issue:

http://cointext.com/us-seizes-funds-from-bitinstant-partner/

The Missing and Exploited Children rep is also on the panel:

http://www.ottawacitizen.com/business/Anonymous+deep+frontier+child+exploitation+conference+told/9175718/story.html

ok what's new? wattt organized crime in New Jersey?..no way i can't believe this!  

Many AC Mayors went to jail going back to the early days.  For awhile it was every other one:

http://news.google.com/newspapers?nid=1914&dat=19900103&id=_gcgAAAAIBAJ&sjid=HGUFAAAAIBAJ&pg=1338,562181

Also, in a somewhat related issue:

Internet Gambling opens here in Atlantic City this Thursday.  The requirements including having brick-and-mortar business and some online casinos are buying failing AC casinos in order to set up web sites.  You have to be within the State while gambling.  They don't yet have ankle bracelets in order to gamble but things come close:

http://www.pressofatlanticcity.com/news/breaking/internet-gambling-is-biggest-bet-for-growth-since-casinos-came/article_90c970ee-fbab-53da-a9aa-1349f4b7a34b.html

Locaid will offer a system in New Jersey with four levels of location verification that include mapping a person's location by using cell towers, tracking IP addresses on computers and matching computers and mobile phones together by having a PIN texted to a mobile device that must be entered on the computer. Once logged in, locations will continue to be monitored, and those betting near state borders will be closely monitored with more frequent checks.

"Say you're playing online poker when you log into a site, your location is constantly being monitored as you place bets," Gerber said. "When we see that someone is approaching a state border ... that person is watched more closely. Much more reauthentication will be happening at the borders of the state."

yeah i remember reading about how they were trying out those new online slot machines in Atlantic City on some Aristocrat board about a year ago~imo the old reel machines are way better..fwiw  

[wickedgoodtrader]

I feel since there will be no decisions made during the hearing, btc prices will continue to rise as this will only be more free advertisement of btc.

[Netnox]

The BTC devs will be told behind the curtains to make BTC more government friendly and more centralized, this going together with the recent leaks i would say more Bitcoiners lose trust and will be switching to an alt, LTC devs has been asked about this issue so lets see what they have to say

[Come-from-Beyond]

The BTC devs will be told behind the curtains to make BTC more government friendly and more centralized, this going together with the recent leaks i would say more Bitcoiners lose trust and will be switching to an alt, LTC devs has been asked about this issue so lets see what they have to say

What the leaks?

[beetcoin]

The BTC devs will be told behind the curtains to make BTC more government friendly and more centralized, this going together with the recent leaks i would say more Bitcoiners lose trust and will be switching to an alt, LTC devs has been asked about this issue so lets see what they have to say

i'm not sure how that solves anything.. LTC will then be regulated by government, and then we move on to the next cryptocurrency?

[TheButterZone]

The BTC devs will be told behind the curtains to make BTC more government friendly and more centralized, this going together with the recent leaks i would say more Bitcoiners lose trust and will be switching to an alt, LTC devs has been asked about this issue so lets see what they have to say

What the leaks?

https://bitcointalk.org/index.php?topic=334520.0

[Gordonium]

[tvbcof]

-image from someone wasting their talents -

WTF is Reagan doing over there on the left!?!

[gooryheta]

Tomorrow it there is going to be some talk about Bitcoins we will know the future. Price might drop drastically or raise. What ever happens I still haven't my amount that i'm using to have fun on market

Price will drop probably. Peer to peer currency where US gov cannot control anything ? It will be their nightmare

[BTCetera]

Tomorrow it there is going to be some talk about Bitcoins we will know the future. Price might drop drastically or raise. What ever happens I still haven't my amount that i'm using to have fun on market

Price will drop probably. Peer to peer currency where US gov cannot control anything ? It will be their nightmare

I wouldn't be so sure: http://www.bloomberg.com/news/2013-11-18/u-s-agencies-to-say-bitcoins-offer-legitimate-benefits.html

[Blackswan122]

Today will be a volatile day... The US won't stop Bitcoin but they can make it very hard for it and other Crypto currencies such as Litecoin PPC and the likes. Just the mere act of shaking the tree will make a few dollars fall of it.... How many I have no idea. The price IMHO has climbed way too fast. Just don't "invest" you life savings. The Chinese and the rest of the world is too big a match for the US.... If the Chinese start to feel threatened... Then look out! I really hope we just carry on as we are. Digital currency in a form or another is a natural progress as salt was to coins.... Just don't forget the Tulip Mania..Long live BTC Crypto currencies it's fun!

http://en.m.wikipedia.org/wiki/Tulip_mania

[cdog]

The government is all talking about "fraud prevention" and "consumer protection"

Thats a blatant lie and actually they do not give a rats ass about protecting consumers, otherwise all those late night infomercials telling you how to become a millionare, and websites promising to make you "$30K per month from your computer" simply would not exist. Butterfly Labs would not exist. For Christ sake, Citibank and half the other banks who sold us on bogus credit default swaps wouldnt exist, as they are all scammers, cons, and crooks. Cliff notes is this, is doesnt matter who you scam if you can pay your taxes and pay whatever "fines" they levy on you in court, which in the world of banking and pro scamming is just looked at as a cost of doing business.

They want to control it. First it starts with "monitoring" and "regulation," then it moves to "auditing" and "taxation" and "identity verification" and blacklisting coins, then eventually they use "eminent domain" on the bitcoin protocol and begin issuing coins themselves to "better protect the American public."

How people cant see that amazes me.

[justusranvier]

They want to control it. First it starts with "monitoring" and "regulation," then it moves to "auditing" and "taxation" and "identity verification" and blacklisting coins, then eventually they use "eminent domain" on the bitcoin protocol and begin issuing coins themselves to "better protect the American public."

You are correct that this is the normal state of operation of the government.

This may not actually be how it plays out this time, however.

The behaviour you're describing is how governments behave during their ascendancy phase.

As the system approaches Peak Government, however, they start employing different strategies. If you want to know that looks phase looks like, play close attention to the behaviour of the high level bureaucrats and politicians in the former USSR during the time period between the fall of the Berlin Wall and the dissolution of the USSR.

It's possible the USA is on the cusp of the "rats fleeing from a sinking ship" portion of the cycle.

[tvbcof]

They want to control it. First it starts with "monitoring" and "regulation," then it moves to "auditing" and "taxation" and "identity verification" and blacklisting coins, then eventually they use "eminent domain" on the bitcoin protocol and begin issuing coins themselves to "better protect the American public."

You are correct that this is the normal state of operation of the government.

This may not actually be how it plays out this time, however.

The behaviour you're describing is how governments behave during their ascendancy phase.

As the system approaches Peak Government, however, they start employing different strategies. If you want to know that looks phase looks like, play close attention to the behaviour of the high level bureaucrats and politicians in the former USSR during the time period between the fall of the Berlin Wall and the dissolution of the USSR.

It's possible the USA is on the cusp of the "rats fleeing from a sinking ship" portion of the cycle.

Ya know, that's actually quite observant.

The thesis also helps me get over the pain mis-estimating of the likely posture of various officials.  OTOH, it is normal practice to attempt to calm an animal before sticking the knife in it's jugular.  I guess we'll just have to see how things play out.

[justusranvier]

The thesis also helps me get over the pain mis-estimating of the likely posture of various officials.  OTOH, it is normal practice to attempt to calm an animal before sticking the knife in it's jugular.  I guess we'll just have to see how things play out.

One optimistic interpretation of the surveillance and anti-insurgency machinery being put into place right now is that it's not aimed at the productive portion of the population but rather is being constructed in anticipation of the apparatchik and welfare hordes going apeshit when the checks stop flowing.

Anyone who's been paying attention realizes those two groups (especially the apparatchik) are insane.

Look at what happened a few years back when a couple state governors suggested that public sector unions take the slightest bit of future concessions with regards to collective bargaining: death threats, strikes, and near riots.

Imagine what they'll do when the "out of business" sign goes up for real.

Incidentally this theory also explains why zombie movies got popular all of a sudden: it's our collective unconscious awareness of this impending scenario.