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Senators seek crackdown on "Bitcoin" currency

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Re: Senators seek crackdown on "Bitcoin" currency

#21

Post by tptacek »

cromulent wrote: post #18
tptacek wrote: post #14

Earlier quoted context omitted.

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.

Sure, but 'hugh3 didn't write that comment to be mean. He's making an example out of something that really is an example of one of the archetypical thread-disrupting issue-forking politics-inducing conspiracy-theoretic superficial toxic comments. That's what I see there. You can obviously disagree.

Re: Senators seek crackdown on "Bitcoin" currency

#23

Post by cromulent »

tptacek wrote: post #21
cromulent wrote: post #18

Earlier quoted context omitted.

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.

Sure, but 'hugh3 didn't write that comment to be mean. He's making an example out of something that really is an example of one of the archetypical thread-disrupting issue-forking politics-inducing conspiracy-theoretic superficial toxic comments. That's what I see there. You can obviously disagree.

I actually think we are in agreement.

Re: Senators seek crackdown on "Bitcoin" currency

#24

Post by burgerbrain »

hugh3 wrote: post #9
shareme wrote: post #8

hmm 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…

As far as I can tell, the suggestion that they might as well soon go about outlawing bartering is a sound one. Neither bartering nor bitcoins use US minted currency, both cannot be traced unless the participants volunteer that information, and both arguably can be used for "tax evasion". I'm not trained in tax law, but it wouldn't really surprise me if legally citizens were mandated to report barters on their taxes.

Furthermore, both can be used to acquire drugs. Of course, bartering is at this point far more popular for that...

"Misspelling."

Seriously dude? This isn't slashdot.

Re: Senators seek crackdown on "Bitcoin" currency

#25

Post by DrHankPym »

junklight wrote: post #4
pavel_lishin wrote: post #2

Next, 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."

You might not be that far off. Electronic payments are becoming the standard. Banks love electronic payments.

Re: Senators seek crackdown on "Bitcoin" currency

#26

Post by mustpax »

Helianthus wrote: post #15
bxr wrote: post #13

Earlier quoted context omitted.

>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.

Let me add some nitpicking to complete the obnoxious HN trifecta. The proper ortographic representation of etc is &c. In fact, that's where the ampersand comes from (think ligature form of Et).

Re: Senators seek crackdown on "Bitcoin" currency

#27

Post by d0ne »

kilroy123 wrote: post #12

There'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 bypa…

The problem is not how many people are willing to accept gold it is there are not enough people willing to pay with it.

Very large financial transactions on multi-currency, multi-nation, trading markets use Gold and Oil Futures as currency.

There are storage facilities around the globe that will actually move physical gold from one private 'vault' to another and confirm the transactions. The end user has an interface similar to online banking and doesn't have to leave their desk.

Re: Senators seek crackdown on "Bitcoin" currency

#28

Post by omouse »

junklight wrote: post #4
pavel_lishin wrote: post #2

Next, 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."

They're already trying to limit how much cash you're legally allowed to carry without having to explain yourself to a police officer in some states.

You don't need to make cash illegal though, you just have to make the alternatives really really attractive.

Re: Senators seek crackdown on "Bitcoin" currency

#29

Post by omouse »

burgerbrain wrote: post #24
hugh3 wrote: post #9

Earlier 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…

As far as I can tell, the suggestion that they might as well soon go about outlawing bartering is a sound one. Neither bartering nor bitcoins use US minted currency, both cannot be traced unless the participants volunteer that information, and both arguably can be used for "tax evasion". I'm not trained in tax law, but it wouldn't really surprise me if legally citizens were mandated to report barters on their taxes.…

both arguably can be used for "tax evasion"

You can use US minted currency for tax evasion as well.

Re: Senators seek crackdown on "Bitcoin" currency

#30

Post by burgerbrain »

omouse wrote: post #29
burgerbrain wrote: post #24

Earlier quoted context omitted.

As far as I can tell, the suggestion that they might as well soon go about outlawing bartering is a sound one. Neither bartering nor bitcoins use US minted currency, both cannot be traced unless the participants volunteer that information, and both arguably can be used for "tax evasion". I'm not trained in tax law, but it wouldn't really surprise me if legally citizens were mandated to report barters on their taxes.…

both arguably can be used for "tax evasion" You can use US minted currency for tax evasion as well.

Exactly.
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