Edwin Vieira said..."They" do not have to regulate the BitCoin system itself. They
will regulate the users, by requiring reports on BitCoin accounts and transactions,
for the purpose of collecting various taxes, in the same manner as foreign bank
accounts must be reported, and as FDR required reports on private gold ownership as
the prelude to confiscation. "They" may not have control of the BitCoins themselves;
but they do have control over the people who use them.
Isn't that what "they" do? What was the news here? Except your brainchild that 350,000 earliest adopters will be jailed and more than all the gains will be confiscated after the comsummative bubble...
I think the probability of that occurring is so low that I will gladly continue holding my bitcoins and soliciting them to others as part of a balanced portfolio.
You are gladly soliciting a ponzi scheme which has been clearly explained to you.
So you have no excuse when the prosecutions come, because you have even stated that you willfully did so.
Having run a silverbank, you will not be able to claim you did not understand the financial vehicle you were investing in.
You know very well the difference between a tangible asset and one that is fabricated out-of-thin-air. And you know very well that the intangible asset has no value if does not have utility as a currency. And it has been explained to you that unless the usership is sufficiently widespread that everyone can use it as an every day currency, then it can't be used as currency to divest without converting to a fiat, thus it is not a currency, but rather what the UK has correctly described it to be.
No where can I see you posting a disclaimer explaining that the asset has certain dubious qualities as described.
It is clearly explained to you that the price is rising too fast for it to be widely dispersed to the masses. And thus when the early adopters want to get out, they either need to start selling now to the masses (and forsake the final gains thus allowing the masses to gain back some of the ridiculous devaluation of their relative net worth), or they will selfishly try to get out at the top and only a few will. Which will be entirely what they deserve. I will try to find a scripture for you on this.
You even have charts in your threads show that it is rising if I am not mistaken at 12X per year. This is simply unheard of in any investment. This can only be a mania.
I have no problem with people destroying themselves investing in mania, but I do believe in telling the truth so that it can only be their fault and not mine.
And under the circumstances, I think it is very unwise to be investing in a ponzi scheme without complete anonymity.
But you are entirely free to take your chances of course.
I am happy that I told what I believe to be the truth. My conscience is clear on this one.
