Bitcoin at the US Senate, 18Nov

[atleticofa]

Hey, Im new here!

What do you think would be the real repercussion?

Bitcoin Senate Hearing November 18
And so it begins, advanced scrutiny of Bitcoin by government.

The U.S. Senate Committee on Homeland Security and Governmental Affairs will meet on Nov. 18 “to explore potential promises and risks related to virtual currency for the federal government and society at large,” it said in a statement today.

The hearing, titled “Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies,” will invite witnesses to testify about the challenges facing law enforcement and regulatory agencies, and include views from “non-governmental entities who can discuss the promises of virtual currency for the American and global economies.”

Notice the hearing title: "Beyond Silk Road"---a very direct linkage between Bitcoin and illegal activities. Not good.

Bitcoin is going to be tracked by government and will be perhaps the least anonymous currency. Programs that mix bitcoins for attempted anonymity will be deemed money laundering devices.

http://www.economicpolicyjournal.com/2013/11/bitcoin-senate-hearing-november-18.html

[Carlor]

I don't expect anything good coming from that.
Bitcoin foundation is busy brown-nosing the government and they look at Bitcoins as a US-centered technology.
Time for Chinese people to stand up I will sell all bitcoins and support another cryptocurrency as soon as they start to regulate bitcoins for the pleasure of Obama and his friends.
It looks like the bitcoin foundation members just want to get rich with their bitcoins and are frightened the USA might not want them to use bitcoins. So they are willing to give up the concept for their personal wealth.

Maybe somebody should tell them, that the only way to really stop cryptocurrencies is to shut down the internet.

[hope4me]

The hearing, titled “Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies,”

Nothing good comes from this, only regulations. Luckily Bitcoin is P2P so as long as Bitcoin foundation will not join dark side, it will be ok

[Wipeout2097]

as long as Bitcoin foundation will not join dark side, it will be ok

What happens if it does?

[cdog]

so as long as Bitcoin foundation will not join dark side, it will be ok

Dont mean to be the bearer of bad news but:

https://bitcointalk.org/index.php?topic=333824.0

[EntropyExtropy]

If BTCF does join the 'dark side', there are a slew of other cryptocurrencies waiting to take the reigns. That's the problem with this particular can of worms: once you've created the basic technology, you've instituted a paradigm shift; attempts to co-opt the aims of one project will be met with another taking up the mantle.