10 seconds after the 3rd mention of "coin validation" or "red list", don't bother to refresh just hit sell.
lol idk...
IDK indeed... But think about how absolutely impossible it would be to implement a red list or coin validation system.
Think of the jurisdictional issues - we're talking about a worldwide currency with users in dozens of countries with totally different sets of laws and regulations. And businesses that exist in one or multiple countries, with customers in multiple countries. Who would follow whose taint list, what agency would be responsible for maintaining the lists,
how would one appeal a listing of one's coins if the agency made a mistake..... Think of the ethical issues - we'd be penalizing future holders of coins for the misdeeds of their past owners - who are likely not to be connected with the crime whatsoever. Apply this to the USD for a sec. Think about if some of the laundromat's quarters were not accepted at the bank or by their supplier because they came from a drug dealer. What if the grocery store's money was placed on a blacklist because it came from a scammer/thief... or even worse, what if some of that was the money that ended up in the cashier's paycheck. Could the cashier afford to hire a lawyer to appeal to the "US. Dollar Taint Council," and could she afford to wait the 8 months required for a decision? The ethical issue is a big one. Policymakers may assume that we'll nab all "black coins" the second they become "black" but this is not possible. Innocent people will get fucked, and they will get fucked big time.
Think of the alt-coins... and how incredibly easy it would be to fool, mix, match, color, taint, untaint, etc.
Think of the exchanges... and how different coins would have different prices based on which countries' redlists or blacklists they were on. There would be multiple exchange rates. Users withdrawing coins would have to choose between "clean coins" (and face a 25% withdrawal fee) or "possibly dirty coins" (and get their whole deposit but with the risk that some of them may be useless at participating businesses.
And that's just the tip of the iceberg in terms of potential complications!
If you really think about its implementation... a redlist/blacklist/validation scheme might be a nice pipe dream in the head of a power-hungry politician, but if implemented, it's going to fail harder than any regulation scheme ever concocted in the history of regulation schemes.
Everyone says "It would sure be nice if we could make it so Pirateeat40 could never spend his coins..." Naive retards. Do they really think it will stop there? Give the government an inch and they take a mile. Be careful what you wish for! I gave an example in the other threads. Of the person who says "I oppose the death penalty... except for that really horrible guy that raped and tortured murdered 15 teenage girls... THERE's the exception." Later in life they may find themselves sitting in death row completely innocent because of a DNA lab fuckup which will only be discovered after they are long dead. So be careful what you wish for, folks who "welcome" a taint list program! Think of how impossible such a program would be to implement, and how it could be abused.... You WILL get fucked, and not in any of the holes you like to get fucked in.
If they implement such a program, I'll be laughing and watching... with a sizeable amount of LTC ;-)
