I argue that only stupid criminals use bitcoin

[Interized]

The only way criminals actually successfully launder money is by using another currency when exchanging. (an example is MoneyPak or PayPal and of course fiat money) Bitcoin directly "lives" in the internet on a completely public space where everything is traceable down to the source/IP -- traceable information is logged in the "Public Bitcoin banks" better than any other currency today.

Remember, with an IP address you can trace where the location is as well as what ever information the internet provider collects for providing services or servers to the user of this IP.

On a side note, I believe one day we may all have to " hard register" ourselves to an IP and possibly the government would require you to "register" all your BTC addresses with them tracking your every move -- as well as anyone else who would like to.

Remember, everything is public, our data is LIVING on the internet, and is currently hard to kill. Ever evolving and ever changing as computing resources grow. Kill technology and forwardness, and you kill Bitcoin.

Possibly we will use the sun to generate all our computer processing needs in the future and ever expanding internet universe.

Welcome.

[1715547592]

1715547592

[1715547592]

1715547592

[TheRandomGuy]

Wrong. I only use bitcoin for honest/voulantry transactions.

[KieranJones1]

You sure have a lot of posts on a Bitcoin forum for somebody who thinks only stupid people use it!

If I'm understanding your post correctly, you seem to be assuming that bitcoin will only succeed if it can be used by criminal enterprise, which just seems to be untrue. Yes, a lot of us expected the BTC/USD price to fall dramatically following the Silk Road bust (and it did, for a pretty short time, and not that "dramatically"), but as that phenomenon showed, there was no lasting impact on the actual Bitcoin exchange rate once it initially recovered ~24 hours later.

Secondly, the traceability of bitcoin isn't an issue, because nobody (even criminals) cares that their transaction history is completely public as long as they make an effort to keep it separate from their identity (i.e. not using it alongside one's real name). If you want to make a completely anonymous bitcoin transaction, it's extremely easy to do so with some very minor precautions.

As for registering your wallet to an IP address, how do you think the government would enforce this? Which government would put these restrictions in place, and on what authority?

EDIT: I think I misunderstood your title. For anyone else's benefit: I don't think Interized is saying Bitcoin is used solely by "stupid criminals", he's saying that the only criminals who would use bitcoin would have to be stupid. I don't think that's true either, by the way. Am I right, Interized?

[Interized]

You sure have a lot of posts on a Bitcoin forum for somebody who thinks only stupid people use it!

If I'm understanding your post correctly, you seem to be assuming that bitcoin will only succeed if it can be used by criminal enterprise, which just seems to be untrue. Yes, a lot of us expected the BTC/USD price to fall dramatically following the Silk Road bust (and it did, for a pretty short time, and not that "dramatically"), but as that phenomenon showed, there was no lasting impact on the actual Bitcoin exchange rate once it initially recovered ~24 hours later.

Secondly, the traceability of bitcoin isn't an issue, because nobody (even criminals) cares that their transaction history is completely public as long as they make an effort to keep it separate from their identity (i.e. not using it alongside one's real name). If you want to make a completely anonymous bitcoin transaction, it's extremely easy to do so with some very minor precautions.

As for registering your wallet to an IP address, how do you think the government would enforce this? Which government would put these restrictions in place, and on what authority?

I didn't say stupid people, I said stupid criminals.

Use Google and research those questions yourself.

[KieranJones1]

Wow, that's quite a rude response to what I thought was a fairly innocuous reply to your thread.

For what it's worth, I think I published the edit to my last post at exactly the same time you made your reply. Sorry for that confusion.

Telling me to use Google to find answers to my questions about your hypothesis for the future of Bitcoin is ridiculous, though. There hasn't been any government intervention into Bitcoin yet, at least as far as tying one's identity to their Bitcoin wallet goes, so how will using Google answer the questions I posed to you? You're the one speculating about things that haven't happened yet; don't get arsey with me when I ask you to clarify why you hold those opinions.

Edit: it's inadvisable to declare that you're "arguing" something and then refuse to answer questions about it.

[Mondy]

Wrong. I only use bitcoin for honest/voulantry transactions.

Most people do...

[2double0]

Id rather launder using cash, lol

[mprep]

Id rather launder using cash, lol

I'd rather not launder money. I don't need to anyway - I don't conduct illegal transactions, I pay taxes and so on...

[beetcoin]

it's kind like the guy who dumped his fat girlfriend and 2 years later she's thin with nice curves.. and he wants her back, but can't get her, so he just talks shit about her.

"i really didn't like that bit(ch)coin anyways."

[Carlton Banks]

it's kind like the guy who dumped his fat girlfriend and 2 years later she's thin with nice curves.. and he wants her back, but can't get her, so he just talks shit about her.

"i really didn't like that bit(ch)coin anyways."

"she's got bad breath, you can't notice until you get real up close, then the honk hits you"

[franky1]

The only way criminals actually successfully launder money is by using another currency when exchanging. (an example is MoneyPak or PayPal and of course fiat money) Bitcoin directly "lives" in the internet on a completely public space where everything is traceable down to the source/IP -- traceable information is logged in the "Public Bitcoin banks" better than any other currency today.

Remember, with an IP address you can trace where the location is as well as what ever information the internet provider collects for providing services or servers to the user of this IP.

On a side note, I believe one day we may all have to " hard register" ourselves to an IP and possibly the government would require you to "register" all your BTC addresses with them tracking your every move -- as well as anyone else who would like to.

Remember, everything is public, our data is LIVING on the internet, and is currently hard to kill. Ever evolving and ever changing as computing resources grow. Kill technology and forwardness, and you kill Bitcoin.

Possibly we will use the sun to generate all our computer processing needs in the future and ever expanding internet universe.

Welcome.

so wrong.

for over a century fraudsters have been laundering bank notes. government has never requested people to write their zipcode and name on every bank note they touch.

same thing applies to bitcoins.