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Senators seek crackdown on "Bitcoin" currency

baltimoresun.com

51–60 of 69 posts

Re: Senators seek crackdown on "Bitcoin" currency

#51
If DEA confiscates proceeds of a crime and it's all Bitcoins. Will they cash them and give further validity to the Bitcoins or is it effectively sent to /dev/null indirectly increasing the value and indirect lesson in drug economics?

Interesting dilemma for them.

Re: Senators seek crackdown on "Bitcoin" currency

#53
post #42

Earlier quoted context omitted.

I appreciated this, actually. It's funny how just being in a negative tree gets you downvoted by association--good thing it's just karma, eh?

To be fair, it's less that we're in a negative tree and more that we're not adding value to the discussion.

Yeah, but I didn't expect people to take it so _personally._

(Or maybe I do, but I unconsciously resent how serious we are and fight it by taking a few downvotes every so often.)

Re: Senators seek crackdown on "Bitcoin" currency

#54
post #48

Earlier quoted context omitted.

I'm not sure you can do that with gold because there's only one stable/naturally-occurring isotope, and the most stable other isotope has a short half-life of six months. Labeled gold's radioactivity may be a give-away.

What about trace element analysis?

Are you suggesting adding small impurities to the gold and then measuring them at a later stage? Surely that would be a very easy thing to change.

Re: Senators seek crackdown on "Bitcoin" currency

#55
post #33

There's nothing governments hate more than watching people get along fine without them.

Just as there's nothing that gives conspiracy theorists more reinforcement than a government crackdown.

I fail to see any implication of conspiracy in his statement. It isn't even referencing a real human emotion or intentional malice but anthropomorphizing the institution of government. Growth of government jobs, department budgets, and votes for elected officials all require a constantly increasing scope. It's built in to the system. There is no (easy) mechanism for relinquishing control in an area. Unfortunately, the end result is accelerating government bloat and loss of freedoms.

There is no need for conspiracy when human nature ensures the same result.

Re: Senators seek crackdown on "Bitcoin" currency

#56

The federal government raided the "Liberty Dollar" factory, which isn't even an actual currency (just a collector's item). Why are they being so cautious with something that's actually supposed to replace the dollar?

Liberty Dollar was absolutely meant as currency, not collector's items. What kind of collector collects certificates to the actual items and not the items themselves?

Re: Senators seek crackdown on "Bitcoin" currency

#58

Shutting down Bitcoin because of illegal drug trade is like banning cryptography because of terrorism: It is not solving the problem and it is not a valid reason for stopping innovation.

Yet, it did not stop them from trying _really hard_, for example, with the Clipper chip and export restrictions on software that used crypto. Even now, foreigners who come to the US to work or study face extra scrutiny (whatever that means) if they work in crypto.
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