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Author Topic: Bitcoin Enables Drug Dealing, Just as Major Banks Do  (Read 977 times)
disparity (OP)
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February 11, 2014, 02:40:31 PM
 #1

Finally a fair article about bitcoin in a mainstream media

http://www.businessweek.com/articles/2014-02-07/bitcoin-enables-a-fraction-of-the-drug-dealing-banks-facilitated
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February 11, 2014, 02:43:16 PM
 #2


Yeah, but any rational person will already know this. Only fools and naysayers try to slander Bitcoin this way.

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February 11, 2014, 02:48:05 PM
 #3

you can also buy drugs with cash in the streets. Now ban cash or ban the streets?
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February 11, 2014, 03:28:22 PM
 #4

Hypothetical situation: Go to your local drug dealer, tell him you'll pay him in bitcoins.  He will punch you in the face.

My point, the whole BTC=drug money thing is WAAAAAAY overstated by the media.
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February 11, 2014, 03:40:27 PM
 #5

You know if those exchanges, stick to implementing those bank regulations it'll make them the most trustworthy exchange institutions in the world. I say let them do it, the exchanges are only a temporary solution once everyone is within the Bitcoin ecosystem it won't matter, their regulations will stop working since the gates to enter will become obsolete. Same as for cash, if you have cash you have entered a ecosystem beyond regulators controls. The whole argument about drugs is so nuts it doesn't even make sense when you think about it, just a load of slander it seems.

the only difference... no one has to replace bitcoins like paper cash, so no need to ever go to the bank to get more.

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February 11, 2014, 04:03:52 PM
 #6

Hypothetical situation: Go to your local drug dealer, tell him you'll pay him in bitcoins.  He will punch you in the face.

My point, the whole BTC=drug money thing is WAAAAAAY overstated by the media.

The comparison doesn't end there: guns, prostitution, pornography, etc. Cash is still the preferred method of for all these industries and also money launderers.

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February 11, 2014, 04:10:50 PM
 #7

A drug addict can buy drug with any kind of goods like, stolen cell phone, tv, videogame dvd, sex .. etc ...

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February 11, 2014, 04:12:02 PM
 #8

Hypothetical situation: Go to your local drug dealer, tell him you'll pay him in bitcoins.  He will punch you in the face.

My point, the whole BTC=drug money thing is WAAAAAAY overstated by the media.

The comparison doesn't end there: guns, prostitution, pornography, etc. Cash is still the preferred method of for all these industries and also money launderers.

Exactly, and if media outlets reported on every instance of USD used for drugs or any illegal transaction, they wouldn't have time to report on anything else.  They clearly have an agenda, as they do with any subject.  Their agenda regarding BTC is to destroy it.
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February 11, 2014, 04:15:12 PM
 #9

I think the whole issue of Silk Road definitely blew the who Drug Dealing thing out of proportion.
Yes, people may be able to buy drugs online anonymously...but who the hell buys drugs online?

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February 11, 2014, 04:22:57 PM
 #10

I think the whole issue of Silk Road definitely blew the who Drug Dealing thing out of proportion.
Yes, people may be able to buy drugs online anonymously...but who the hell buys drugs online?

Exactly ...   Grin you can buy just on the street corner ... hell I couldn't wait weeks for delivery LoL ... 

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February 11, 2014, 04:28:56 PM
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I think the whole issue of Silk Road definitely blew the who Drug Dealing thing out of proportion.
Yes, people may be able to buy drugs online anonymously...but who the hell buys drugs online?

Exactly ...   Grin you can buy just on the street corner ... hell I couldn't wait weeks for delivery LoL ... 

The only people who buy online are ones who are already high and aren't in the right state of mind.

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February 11, 2014, 04:51:57 PM
 #12

Yeah what i don't understand is few people want that we don't move forward from this corporate era.. and get a new level of freedom..!

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February 11, 2014, 05:12:02 PM
 #13

I think the whole issue of Silk Road definitely blew the who Drug Dealing thing out of proportion.
Yes, people may be able to buy drugs online anonymously...but who the hell buys drugs online?

Exactly ...   Grin you can buy just on the street corner ... hell I couldn't wait weeks for delivery LoL ... 

Well why would you buy crap off the street when you can buy great stuff online and have it delivered straight to your door?

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February 11, 2014, 05:20:05 PM
 #14

A drug addict can buy drug with any kind of goods like, stolen cell phone, tv, videogame dvd, sex .. etc ...
You can't really stop someone from getting drugs if they really want them.

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February 11, 2014, 06:00:42 PM
 #15

the banks are worse for this, to the tune of billions of dollars.
its been proven in court
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February 11, 2014, 06:29:40 PM
 #16

the banks are worse for this, to the tune of billions of dollars.
its been proven in court

What court was that? Don't they normally just pay them off?
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February 11, 2014, 08:22:47 PM
 #17

You don't say...

Every government is out there looking out for their own best interests, laundering money is perfectly fine in the U.S. as long as you do it through wall street like everybody else.
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February 11, 2014, 11:03:54 PM
 #18

Fiat enables drug dealing, let's ban it.

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February 12, 2014, 05:53:54 AM
 #19

Drug dealers will accept almost anything that is worth money, hell many of them even accept checks.   If they are selling meth or other lifer drugs, they get offered trades (i.e. dvd players, bikes, watches, etc) every day... So if the drug dealer can't get paid in bitcoin, he will still get cash...and just about anything else that is worth money.

The drugs sell themselves...bitcoin is just another medium that they can accept
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