FBI seized PokerStars.com, FullTiltPoker.com, UB.com,... domain names

Post by spc476 » Fri, Apr 15, 2011, 10:26 PM UTC

Vivtek wrote: post #195

jotr99 wrote: post #142

Earlier quoted context omitted.

Interesting, as I have a number of Chuck E. Cheese tokens that appear to fit this description. Why don't we ever hear about FBI raids of kids' pizza / video game parlors?

I suspect that if the use of Chuck E. Cheese tokens as a medium of exchange were to become widespread in a given locale (one with the profile of Las Vegas) the Secret Service would take a similar interest. As it is, come on. Their budget is finite.

Post by kwis » Fri, Apr 15, 2011, 10:32 PM UTC

weavejester wrote: post #252

ChuckMcM wrote: post #234

Earlier quoted context omitted.

Good question. Early on when I was trying to create a milli-cent currency for subscription buying of content from a website we wondered if we offered a refund for our digital cash tokens if we'd get in trouble for it. As it turned out the Digi-cash folks had all the patents and were being real dicks about licensing so we never got to test the question. I can absolutely predict that if you can buy several hundred thou…

" I can absolutely predict that if you can buy several hundred thousand dollars worth of bitcoins from person X, and then go to persons P, Q, R, ... Z and redeeem them back for cash, that the authorities will shut down that sort of thing quite quickly. " It's already been done: http://i.imgur.com/PUMtG.jpg That's 400k BTC (about $400k) being sent to a number of different accounts.

Post by rooshdi » Fri, Apr 15, 2011, 10:39 PM UTC

Post by weavejester » Fri, Apr 15, 2011, 10:59 PM UTC

kwis wrote: post #253

weavejester wrote: post #252

Earlier quoted context omitted.

" I can absolutely predict that if you can buy several hundred thousand dollars worth of bitcoins from person X, and then go to persons P, Q, R, ... Z and redeeem them back for cash, that the authorities will shut down that sort of thing quite quickly. " It's already been done: http://i.imgur.com/PUMtG.jpg That's 400k BTC (about $400k) being sent to a number of different accounts.

Good luck cashing that out without crashing the market. Somebody pointed out, just a few days ago, that a $10k sell-off recently scrubbed 25% off BCN/USD. A 400,000BCN sell-off would almost certainly drop it to pennies.

Post by Retric » Fri, Apr 15, 2011, 11:06 PM UTC

bmelton wrote: post #209

cynicalkane wrote: post #198

Earlier quoted context omitted.

What the heck? That's exactly the same as what I said. Money is an object or record that serves as a medium of exchange.

Pardon? I believe that's a little revisionist, as you stated, and what I was specifically referring to is " Currency refers to physical money. " You then list all the ways in which other forms of currency aren't currency, which is the point I disagree with. While I agree that a credit card isn't necessarily mapped to a tangible dollar figure, and that yes, it does refer to a line of credit, I disagree that it isn't c…