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Nolo
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November 18, 2013, 08:35:27 PM |
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Good analogy by Sen. Carper.
Internet was feared by these same people back in the day. The internet was thought to be the downfall of society at one time.
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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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applelover
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November 18, 2013, 08:36:45 PM |
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this hearing is going great imo
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revilo
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November 18, 2013, 08:37:51 PM |
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Well done Mythili !!
Well said
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Nolo
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November 18, 2013, 08:38:36 PM |
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FinCEN appears to be very pro virtual currency according to this hearing.
Justice Department seems to be neutral. Prosecute criminals. Leave valid businesses alone.
Secret Service seems against it. But once again they're against everything, so no surprise there.
I'd say this hearing is turning out very positively. Atleast alot more positively than it could have gone.
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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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BitChick
Legendary
 Offline
Activity: 1148
Merit: 1001
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November 18, 2013, 08:39:15 PM |
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Sen Tom Carper gave the analogy that in the early days of the internet that people said it was a concern for bad things but has become a use for great innovation.
Now the other speakers are commenting on this.
So far the speaker from FINCEN is saying that innovation is very important and it part of who we are as Americans.
Raman said that as an emerging technology the law enforcement is attune to the illegitimate uses but she is saying that the virtual currencies are not illegal in themselves and that there are legitimate uses as long as they comply but we need to be watchful.
Lowery from Homeland Security is focusing on the threats but not the positives.
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1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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Bboy360
Newbie
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Activity: 14
Merit: 0
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November 18, 2013, 08:39:57 PM |
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I think they're just saying, their department needs more money to track violations of bitcoins. That's all they want anyway, a larger budget for their dept. Win-Win.
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porcupine87
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November 18, 2013, 08:42:24 PM |
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this hearing is going great imo
+1 Noone can expect, they say "We are the state. We are the regulators and we absolutely don't give a shit!". Sure they say, they want to enforce their laws to defend crime. |
"Morality, it could be argued, represents the way that people would like the world to work - whereas economics represents how it actually does work." Freakonomics
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mootinator
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November 18, 2013, 08:43:38 PM |
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Sen Tom Carper gave the analogy that in the early days of the internet that people said it was a concern for bad things but has become a use for great innovation.
Now the other speakers are commenting on this.
So far the speaker from FINCEN is saying that innovation is very important and it part of who we are as Americans.
Raman said that as an emerging technology the law enforcement is attune to the illegitimate uses but she is saying that the virtual currencies are not illegal in themselves and that there are legitimate uses as long as they comply but we need to be watchful.
Lowery from Homeland Security is focusing on the threats but not the positives.
...and if you look at all of these comments assuming the conclusion is "...as such my department needs more funding" they're all consistent. Imagine that. |
No
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applelover
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November 18, 2013, 08:45:14 PM |
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i hate this woman raman she is so dumb
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Paladin69
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November 18, 2013, 08:45:35 PM |
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Yep, I see coin validation in our future.
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mootinator
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November 18, 2013, 08:46:30 PM |
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I think they're just saying, their department needs more money to track violations of bitcoins. That's all they want anyway, a larger budget for their dept. Win-Win.
Ah, beat me to it. Guess I should have read the new comments before posting. |
No
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Nolo
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November 18, 2013, 08:46:49 PM |
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"We feel comfortable that the statutes we have available to us now, are broad enough to cover what we have been talking about today."
Justice Department is saying we don't need any other tools to combat virtual currency crime.
That may be the best quote of the day.
Justice Dept expressly telling Congress to just give us more $ but don't pass anymore laws. Excellent.
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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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Spekulatius
Legendary
Offline
Activity: 1022
Merit: 1000
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November 18, 2013, 08:48:23 PM |
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What is that white thing to his right?  Is it some kind of cream? |
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Kouye
Sr. Member
Offline
Activity: 336
Merit: 250
Cuddling, censored, unicorn-shaped troll.
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November 18, 2013, 08:48:31 PM |
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Justice Department is saying we don't need any other tools to combat virtual currency crime.
They all keep talking about virtual currency. Guess they'll need a couple more years to understand what's happening. |
[OVER] RIDDLES 2nd edition --- this was claimed. Look out for 3rd edition! I won't ever ask for a loan nor offer any escrow service. If I do, please consider my account as hacked. |
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applelover
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November 18, 2013, 08:52:06 PM |
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this hearing couldn't possibly go better imo. everyone has talked about the future challenges, acknowledging that bitcoins are here to stay. and this capper guy loves bitcoins so much he probably had his wife buy a couple thousand before this hearing. bitcoins are a lock to hit 1k by end of the week.
"cash is still the best medium for laundering money"
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Nolo
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November 18, 2013, 08:53:59 PM |
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Wow. Even the Secret Service is admitting the cybercriminal is not inclined to use Bitcoins.
He says there should be a distinction made between Bitcoins and other virtual currencies.
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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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PinkBatman
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November 18, 2013, 08:56:54 PM |
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What is that white thing to his right? Is it some kind of cream? Off topic but it's hand sanitizer. |
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mogs
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November 18, 2013, 08:57:55 PM |
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This is big.. US is getting behind it. The negative speak just has to be said... let the buying games begin.. Who will hold all the BTC, China? USA? India? Middle East? Only 12,000,000 to go around right now.
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Nolo
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November 18, 2013, 08:59:37 PM |
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This is big.. US is getting behind it. The negative speak just has to be said... let the buying games begin.. Who will hold all the BTC, China? USA? India? Middle East? Only 12,000,000 to go around right now.
Probably doesn't hurt that the U.S. government now owns about $70,000,000 worth of bitcoins lol |
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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freedomno1
Legendary
Offline
Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
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November 18, 2013, 09:00:15 PM |
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Its interesting as heck
No wonder the price is moving
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Believing in Bitcoins and it's ability to change the world
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