September 27, 2011 U.S.Department of the Treasury might regulate BitCoin

[BidBitcoins]

I understood the main reason for this legislation was to close the anonymous pre-paid phone accounts... that is they are not happy that you can use a phone without it being tied to your name/address. The whole thing is silly, however, as those with criminal intent will just use others credentials to purchase.

I don't think that's what it is. Anyone can get a Metro PCS phone without ID. I think it's the fact that stored value cards are used to launder drug money. The Treasury issued a Memorandum about this a few years back. They claimed it was the number one way people were avoiding taxes and laundering drug money.

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[ctoon6]

I understood the main reason for this legislation was to close the anonymous pre-paid phone accounts... that is they are not happy that you can use a phone without it being tied to your name/address. The whole thing is silly, however, as those with criminal intent will just use others credentials to purchase.

I don't think that's what it is. Anyone can get a Metro PCS phone without ID. I think it's the fact that stored value cards are used to launder drug money. The Treasury issued a Memorandum about this a few years back. They claimed it was the number one way people were avoiding taxes and laundering drug money.

legalize drugs.

reasons: less money spent on catching criminals and keeping them locked up.
heavily tax the drugs, they would still be cheaper than off the street.

tada! half the money laundering is now gone.

[BCEmporium]

Gosh! You guys never let me down on amaze me with prepotency!
WTF do I care for an US "act"?! In my jurisdiction "US acts" can be used for toilet paper, like in the remaining 95% of the World... the bankrupt treasury of US should be more concerned about pay its huge over 100% of GDP debt rather than "regulate" an international borderless e-currency which doesn't belong to USA.
Well, if you're American you must abide your country laws, but that's it.

[bitrebel]

Gosh! You guys never let me down on amaze me with prepotency!
WTF do I care for an US "act"?! In my jurisdiction "US acts" can be used for toilet paper, like in the remaining 95% of the World... the bankrupt treasury of US should be more concerned about pay its huge over 100% of GDP debt rather than "regulate" an international borderless e-currency which doesn't belong to USA.
Well, if you're American you must abide your country laws, but that's it.

No no no, your mistaken. Even if you're not American you have to go by American laws. Don't believe me? Just wait. After North Korea and Iran and Libya, your Next buddy!

[Exonumia]

I understood the main reason for this legislation was to close the anonymous pre-paid phone accounts... that is they are not happy that you can use a phone without it being tied to your name/address. The whole thing is silly, however, as those with criminal intent will just use others credentials to purchase.

I don't think that's what it is. Anyone can get a Metro PCS phone without ID. I think it's the fact that stored value cards are used to launder drug money. The Treasury issued a Memorandum about this a few years back. They claimed it was the number one way people were avoiding taxes and laundering drug money.

legalize drugs.

reasons: less money spent on catching criminals and keeping them locked up.
heavily tax the drugs, they would still be cheaper than off the street.

tada! half the money laundering is now gone.

We can't have them competing with Big Pharma now can we...

Seriously I agree with you in all points... the problem is there is no organized bribery... I mean lobby group for the "illicit" drug sellers.
 

[BCEmporium]

No no no, your mistaken. Even if you're not American you have to go by American laws. Don't believe me? Just wait. After North Korea and Iran and Libya, your Next buddy!

Looks like Libya isn't going down that easy, doesn't it? Let alone N Korea and Iran. And what about China and Russia? Putin just called US an economic parasite whereas launched the re-equip of Russia... looks like US's reign of terror is about to end rather than someone "to be next".

[ctoon6]

I understood the main reason for this legislation was to close the anonymous pre-paid phone accounts... that is they are not happy that you can use a phone without it being tied to your name/address. The whole thing is silly, however, as those with criminal intent will just use others credentials to purchase.

I don't think that's what it is. Anyone can get a Metro PCS phone without ID. I think it's the fact that stored value cards are used to launder drug money. The Treasury issued a Memorandum about this a few years back. They claimed it was the number one way people were avoiding taxes and laundering drug money.

legalize drugs.

reasons: less money spent on catching criminals and keeping them locked up.
heavily tax the drugs, they would still be cheaper than off the street.

tada! half the money laundering is now gone.

We can't have them competing with Big Pharma now can we...

Seriously I agree with you in all points... the problem is there is no organized bribery... I mean lobby group for the "illicit" drug sellers.

The only people that would not go for my plan are the retarded private prisons and the people who go with the argument "then everyone would do it". in fact the big pharmacies would MAKE MORE MONEY. they could sell the drugs in greater volume.

[bitrebel]

I understood the main reason for this legislation was to close the anonymous pre-paid phone accounts... that is they are not happy that you can use a phone without it being tied to your name/address. The whole thing is silly, however, as those with criminal intent will just use others credentials to purchase.

I don't think that's what it is. Anyone can get a Metro PCS phone without ID. I think it's the fact that stored value cards are used to launder drug money. The Treasury issued a Memorandum about this a few years back. They claimed it was the number one way people were avoiding taxes and laundering drug money.

legalize drugs.

reasons: less money spent on catching criminals and keeping them locked up.
heavily tax the drugs, they would still be cheaper than off the street.

tada! half the money laundering is now gone.

ctoon6, you're probably a very smart person, so I wonder why you have not figured this out yet.
Banks and Drug laws exist to work hand in hand together. Banks would not exist, if there were no drugs which were illegal to launder money through. There would be no need for banks if drugs were legal. Banks were created to serve the purpose of laundering the opium profits and returning the Britsh pound to gold to pay the opium farmers because all they accept for payment is gold. Elementary Watson

[bitrebel]

No no no, your mistaken. Even if you're not American you have to go by American laws. Don't believe me? Just wait. After North Korea and Iran and Libya, your Next buddy!

Looks like Libya isn't going down that easy, doesn't it? Let alone N Korea and Iran. And what about China and Russia? Putin just called US an economic parasite whereas launched the re-equip of Russia... looks like US's reign of terror is about to end rather than someone "to be next".

Fuck 'em , we have Flying Saucers and Micro Nukes!

We'll WTC them and turn their metals into dust!

[BCEmporium]

No empire lasts forever...
I rather have Russia and US staring at each other again, like in good'old 80's, hopefully without all those proxy wars. It brings balance to power and restrain US for go on "war on drugs", "war on inexistent weapons", "war on <put or make up the reason here>"... gosh! Those folks really have an obsession for "war"!

[ctoon6]

I understood the main reason for this legislation was to close the anonymous pre-paid phone accounts... that is they are not happy that you can use a phone without it being tied to your name/address. The whole thing is silly, however, as those with criminal intent will just use others credentials to purchase.

I don't think that's what it is. Anyone can get a Metro PCS phone without ID. I think it's the fact that stored value cards are used to launder drug money. The Treasury issued a Memorandum about this a few years back. They claimed it was the number one way people were avoiding taxes and laundering drug money.

legalize drugs.

reasons: less money spent on catching criminals and keeping them locked up.
heavily tax the drugs, they would still be cheaper than off the street.

tada! half the money laundering is now gone.

ctoon6, you're probably a very smart person, so I wonder why you have not figured this out yet.
Banks and Drug laws exist to work hand in hand together. Banks would not exist, if there were no drugs which were illegal to launder money through. There would be no need for banks if drugs were legal. Banks were created to serve the purpose of laundering the opium profits and returning the Britsh pound to gold to pay the opium farmers because all they accept for payment is gold. Elementary Watson

i find the argument that banks only make money and exist through laundering money hard to believe. although it would not surprise me much if someone did present proof unless it already does exist and i do not know of it. but even so, you can launder money way cheaper in bitcoin than through a "real" bank. and that would make banks not make as much money, although i have no idea why they would need to do it in the first place, at least in the current day US. Though FRB banks make money out of thin air anyway.

[bitrebel]

No empire lasts forever...
I rather have Russia and US staring at each other again, like in good'old 80's, hopefully without all those proxy wars. It brings balance to power and restrain US for go on "war on drugs", "war on inexistent weapons", "war on <put or make up the reason here>"... gosh! Those folks really have an obsession for "war"!

Russia has some pretty bad ass weapons, too. Like what they did to Japan. That was horrific with the Tsunami and the Scalar Weaponry. You guys need to keep your leaders under control.

[bitrebel]

I understood the main reason for this legislation was to close the anonymous pre-paid phone accounts... that is they are not happy that you can use a phone without it being tied to your name/address. The whole thing is silly, however, as those with criminal intent will just use others credentials to purchase.

I don't think that's what it is. Anyone can get a Metro PCS phone without ID. I think it's the fact that stored value cards are used to launder drug money. The Treasury issued a Memorandum about this a few years back. They claimed it was the number one way people were avoiding taxes and laundering drug money.

legalize drugs.

reasons: less money spent on catching criminals and keeping them locked up.
heavily tax the drugs, they would still be cheaper than off the street.

tada! half the money laundering is now gone.

ctoon6, you're probably a very smart person, so I wonder why you have not figured this out yet.
Banks and Drug laws exist to work hand in hand together. Banks would not exist, if there were no drugs which were illegal to launder money through. There would be no need for banks if drugs were legal. Banks were created to serve the purpose of laundering the opium profits and returning the Britsh pound to gold to pay the opium farmers because all they accept for payment is gold. Elementary Watson

i find the argument that banks only make money and exist through laundering money hard to believe. although it would not surprise me much if someone did present proof unless it already does exist and i do not know of it. but even so, you can launder money way cheaper in bitcoin than through a "real" bank. and that would make banks not make as much money, although i have no idea why they would need to do it in the first place, at least in the current day US. Though FRB banks make money out of thin air anyway.

You answered your own question. They print it out of thin air. But they need to keep the drug trade going, and oil and gold, and they need to transfer funds between the 3, without it being obvious to all nations, how it's done.

[ctoon6]

You answered your own question. They print it out of thin air. But they need to keep the drug trade going, and oil and gold, and they need to transfer funds between the 3, without it being obvious to all nations, how it's done.

correction, they don't even print it, they simply change a few bits of text in the computer and people accept that as a valid form of payment.

[Phinnaeus Gage]

This thread sucks! Nobody mentioned porn until now. And bump is now a sexual term.

[bitrebel]

You answered your own question. They print it out of thin air. But they need to keep the drug trade going, and oil and gold, and they need to transfer funds between the 3, without it being obvious to all nations, how it's done.

correction, they don't even print it, they simply change a few bits of text in the computer and people accept that as a valid form of payment.

Yes, it's finger strokes across a keyboard. Not much more. But there is an accounting behind it. It's unaccountable though.

[BCEmporium]

Russia has some pretty bad ass weapons, too. Like what they did to Japan. That was horrific with the Tsunami and the Scalar Weaponry. You guys need to keep your leaders under control.

Wait a minute! That one was GOD! Here:

http://www.youtube.com/watch?v=fPd-SY6OhLY

or here, the shorter version:

http://www.youtube.com/watch?v=1U-GaP4PEW4

[dtime]

Hey Matthew or bitmole ...   If I send you some coins will you go away forever?   

[bitrebel]

Russia has some pretty bad ass weapons, too. Like what they did to Japan. That was horrific with the Tsunami and the Scalar Weaponry. You guys need to keep your leaders under control.

Wait a minute! That one was GOD! Here:

http://www.youtube.com/watch?v=fPd-SY6OhLY

or here, the shorter version:

http://www.youtube.com/watch?v=1U-GaP4PEW4

I found this one more interesting.
http://www.youtube.com/watch?v=Haj02zodA-c

[BCEmporium]

I don't speak Russian enough to check whether the translation is accurate, however I bet if they open a bit more the scene you would see a lot of empty vodka bottles around that guy.