This headline seems a bit hyperbolic; the article does not actually substantiate the part about Schumer going after Bitcoin. It does reiterate the news about Schumer wanting Silk Road shut down; that was reported yesterday on HN. But there's nothing new here that says that Senators are going after Bitcoin, specifically, except for the headline.
Senators seek crackdown on "Bitcoin" currency
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Re: Senators seek crackdown on "Bitcoin" currency
#12There's always been an untraceable currency sold and traded globally. Gold. You can't trace it back to the origin, as long as it's been melted down.
The only thing is, you can't easily transport it. And lets be honest, how many people are willing to accept gold?
This is scary stuff for governments all over the world, not because you can buy drugs or use the currency for illicit reasons, it's because -- taxes and bypassing traditional financial institutions. (Just think paypal)
If you can move money around the world securely and anonymously, you can hide your money from the tax man. At least in theory...
Re: Senators seek crackdown on "Bitcoin" currency
#13hmm so how will they outlaw bartering? But than again the derivative traders, they are allowed to make free money and steal without any change..
Sorry shareme, but this is pretty much a perfect example of a bad HN comment. hmm so how will they outlaw bartering? Unjustified logical leap. But than again the derivative traders Misspelling. they are allowed to make free money and steal Nonsensical accusation against a group of people engaged in an activity which I'm not sure you fully understand. without any change.. Incomprehensible. Please think before you type…
>which I'm not sure you fully understand.
Ah, condescension, now that is a perfect example of a typical HN comment.
Re: Senators seek crackdown on "Bitcoin" currency
#14Earlier quoted context omitted.
Sorry shareme, but this is pretty much a perfect example of a bad HN comment. hmm so how will they outlaw bartering? Unjustified logical leap. But than again the derivative traders Misspelling. they are allowed to make free money and steal Nonsensical accusation against a group of people engaged in an activity which I'm not sure you fully understand. without any change.. Incomprehensible. Please think before you type…
>which I'm not sure you fully understand. Ah, condescension, now that is a perfect example of a typical HN comment.
Is he wrong? How is he wrong?
Re: Senators seek crackdown on "Bitcoin" currency
#15Earlier quoted context omitted.
Sorry shareme, but this is pretty much a perfect example of a bad HN comment. hmm so how will they outlaw bartering? Unjustified logical leap. But than again the derivative traders Misspelling. they are allowed to make free money and steal Nonsensical accusation against a group of people engaged in an activity which I'm not sure you fully understand. without any change.. Incomprehensible. Please think before you type…
>which I'm not sure you fully understand. Ah, condescension, now that is a perfect example of a typical HN comment.
Ah, the snide counter to condescension, &etc.
Re: Senators seek crackdown on "Bitcoin" currency
#16hmm so how will they outlaw bartering? But than again the derivative traders, they are allowed to make free money and steal without any change..
Actually, bartering is already covered in the US tax code. You're supposed to claim the fair market value of the goods/ services you received as income.
Re: Senators seek crackdown on "Bitcoin" currency
#17Next, WoW gold.
next, money. "I heard that this guy went to his dealer with some cash and walked away with some drugs leaving no paper trail whatsoever."
In The Sprawl trilogy, cash is almost never used for legitimate purchases. It's almost exclusively used for black/grey-market transactions.
Re: Senators seek crackdown on "Bitcoin" currency
#18Earlier quoted context omitted.
>which I'm not sure you fully understand. Ah, condescension, now that is a perfect example of a typical HN comment.
Is he wrong? How is he wrong?
I don't think bxr is saying that hugh3 is wrong. He's saying that he is being condescending (although I'm not so sure this is typical). I guess hugh3 could have just said "Nonsensical accusation" and his point that it was "pretty much a perfect example of a bad HN comment" might have been even stronger without speculation on shareme's level of understanding of derivative trading.
Re: Senators seek crackdown on "Bitcoin" currency
#19This headline seems a bit hyperbolic; the article does not actually substantiate the part about Schumer going after Bitcoin. It does reiterate the news about Schumer wanting Silk Road shut down; that was reported yesterday on HN. But there's nothing new here that says that Senators are going after Bitcoin, specifically, except for the headline.
The headline is accurate. They seek action, they are not acting yet.
You're right that there is nothing new here, however.
Re: Senators seek crackdown on "Bitcoin" currency
#20This isn't about drugs. This about the coercive force of government wanting a cut of the profits. Think of it as a protection racket.