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Arksun
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November 18, 2013, 08:16:56 PM |
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Very dissapointing, but not unexpected so far. I'm hoping the pro-Bitcoin speakers will have their fair say!.
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"You Asked For Change, We Gave You Coins" -- casascius
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Robert Lewandowski
Sr. Member
 Offline
Activity: 420
Merit: 250
Bayern
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November 18, 2013, 08:18:18 PM |
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Lol im already feeling a hint of a lot of "WE WANT TO CONTROL EVERYTHING" in this hearing
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revilo
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November 18, 2013, 08:18:58 PM |
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Basically. Please could we control virtual currencies?
no
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Arksun
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November 18, 2013, 08:19:19 PM |
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China doesnt give the fck! lol
Haha, yeah I've got 2 chart windows open, one MTGox, the other btcnCNY. Ones soaring, the other just massively plumetted, guess which is which  |
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freet0pian
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November 18, 2013, 08:20:55 PM |
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Anybody compiling a word cloud of this?
Patriot act x 1
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░▒▓█ welcome to freet0pia █▓▒░
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Arksun
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November 18, 2013, 08:22:08 PM |
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Anybody compiling a word cloud of this?
Patriot act x 1
I expect to see high counts of 'criminal' 'money laundering' 'illegal' and 'terrorist'  |
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indianplayers
Member
Offline
Activity: 113
Merit: 10
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November 18, 2013, 08:22:42 PM |
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All I hear is negative words so far. When do they state the benifits?
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revilo
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November 18, 2013, 08:23:26 PM |
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Replace the words 'virtual currency' with 'cash' and the same applies.
Untraceable, no transfer fees, easy to buy Child pornography etc...
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Marinowner
Newbie
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Activity: 17
Merit: 0
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November 18, 2013, 08:24:20 PM |
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is it over or it is still live, if it is please can some1 give me link!
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rupy
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November 18, 2013, 08:24:43 PM |
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Follow the money, bitcoin is ideal for that... these people are not scientists.
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BANKBOOK GWT Wallet & no-FIAT Billing API
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Bboy360
Newbie
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Activity: 14
Merit: 0
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November 18, 2013, 08:25:08 PM |
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I think they're basically saying, they can still arrest people using bitcoins. I don't think it's that negative.
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BitChick
Legendary
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Activity: 1148
Merit: 1001
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November 18, 2013, 08:27:08 PM |
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I have heard a few encouraging things so far. They seem to be saying that virtual currencies are not illegal but they are just concerned about tackling all illegal use of the virtual currencies. Mythili Raman said, "The department is encourage about the cooperation of the virtual currency organizations."
I guess the real question will be how they tackle the criminal use of the virtual currencies? I am all for that but I am sure it will cause some more restrictive use. It is not an easy problem to solve though.
At least I am not hearing them say that they need to do away with Bitcoin, thankfully.
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1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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BitChick
Legendary
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Activity: 1148
Merit: 1001
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November 18, 2013, 08:27:55 PM |
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Homeland Security is up now though. We will see how friendly they are to Bitcoin. . .
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1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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malaimult
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November 18, 2013, 08:29:02 PM |
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Anybody compiling a word cloud of this?
Patriot act x 1
I expect to see high counts of 'criminal' 'money laundering' 'illegal' and 'terrorist' \ you got that right. bitcoin will fail to pass. |
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bassjoe
Newbie
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Activity: 22
Merit: 0
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November 18, 2013, 08:31:35 PM |
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Yeah, this sort of sucks. Only three witnesses from government agencies, FinCEN, DOJ Criminal and Secret Service. They will OF COURSE have an "everything is criminal" mindset. Where are the FEC, SEC, CFTC, bitcoin industry witnesses?
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malaimult
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November 18, 2013, 08:33:10 PM |
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600 now.. 100 by the end of the week.
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Nolo
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November 18, 2013, 08:33:18 PM |
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You have to remember that the guy testifying now only has one job. That is to investigate financial crimes.
He isn't there to say anything positive about anything except himself and his division.
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Charlie Kelly: I'm pleading the 5th. The Attorney: I would advise you do that. Charlie Kelly: I'll take that advice under cooperation, alright? Now, let's say you and I go toe-to-toe on bird law and see who comes out the victor? The Attorney: You know, I don't think I'm going to do anything close to that and I can clearly see you know nothing about the law.
19GpqFsNGP8jS941YYZZjmCSrHwvX3QjiC
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wickedgoodtrader
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November 18, 2013, 08:34:17 PM |
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Yes, they are basically saying they will try and stop any illegal use of it. They are not saying they want to stop all use of it. Big woop.. BUY THE DIP
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BitChick
Legendary
Offline
Activity: 1148
Merit: 1001
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November 18, 2013, 08:34:31 PM |
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Edward Lowery with Homeland Security is foretelling growth of the currency and the use for illegal activity. He is talking about some investigations and how some of the criminals have been charged and convicted for money laundering and how they work with other agencies.
He is bragging about apprehending 4000 cyber criminals, primarily talking about Liberty Reserve and some others.
He said, "Digital currencies are a tool used by a wide range of criminals."
He does say at the end that while digital currencies can provide some benefits they are a challenge to law enforcements.
It sounds like he would rather not have any digital currency.
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1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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