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JB
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JB
Joined: Oct 14, 2009
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May 28th, 2013 at 4:50:25 PM permalink
Quote: Zcore13

The bust today of another "fake currency" included 17 different countries cooperating and is said to have been used by 1 million criminals to HIDE income/profits. This is stuff like drug sales, sales of stolen property, identity theft, child porn, credit card fraud and more.


The underlined part raises suspicion to me.

Unlike most people, I do not blindly believe everything the government (or anyone else for that matter) says simply because they are the government. They have the ability to claim that anybody is a criminal and is involved with all sorts of illegal things and destroy someone's life on a whim. As someone who is capable of thinking for myself, I can decide whether or not they are being truthful. Until I see actual proof of money laundering via Bitcoin, not just "it happened because the government said so," I will continue to be skeptical about it. Furthermore, shutting down Bitcoin because someone laundered money through it would be like shutting down Toyota because someone was killed by a person driving one; the driver is at fault, not the vehicle. I am in no way trying to condone illegal activities, but Bitcoin does have some nice things about it which regular currency does not.
soulhunt79
soulhunt79
Joined: Oct 8, 2010
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May 28th, 2013 at 5:27:10 PM permalink
I do find it funny you are calling it a "fake currency". If you have a PhD in economics maybe I'll value your opinion. Right now though I don't know which is worse. Bitcoin being not backed by any government or something like the Yuan which is heavily controlled by a government and not allowed to change based on world wide market conditions. While I don't think a bitcoin should be $200(or whatever it is), I also don't think the Yuan should be ~6 to a dollar. Therefore I don't know which is fake.


I still don't think bitcoin can survive though. While money laundering may end up being a big reason, it is all about control. Does anyone here think there exists even the smallest chance that the dollar/euro/yuan go away in the next century into 1 world wide currency? Economics is arguable a more powerful asset to a country and their entire military. No single country is going to give up this power. I could understand some more consolodation like the Euro. There is a benefit for a number of smaller countries to bind together. Obviously recent issues in some countries have brought some of the downsides to light as well.

I feel it would require some independent(as independent as possible) organization to manage it like the world bank for it to become accepted. No government is going to accept places like mt gox to be the controller of a currency.
pacomartin
pacomartin
Joined: Jan 14, 2010
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May 29th, 2013 at 3:35:46 PM permalink
Quote: soulhunt79

I still don't think bitcoin can survive though. While money laundering may end up being a big reason, it is all about control. Does anyone here think there exists even the smallest chance that the dollar/euro/yuan go away in the next century into 1 world wide currency? Economics is arguable a more powerful asset to a country and their entire military. No single country is going to give up this power.

I could understand some more consolidation like the Euro. There is a benefit for a number of smaller countries to bind together. Obviously recent issues in some countries have brought some of the downsides to light as well.



The best way to make money is to "make money". This statement was true even before "fiat" currency existed.

I think many people thought that consolidation of currency would be much more common today. The arab nations circling the Gulf had plans for a consolidated currency.

At 14.5 years old, no one predicted that Cyprus, Estonia, Malta, Slovakia, Slovenia would be the only countries to join the Euro after the notes were distributed. Collectively those 5 countries have roughly the same population as Greece (the last country to join the Euro).

But keep in mind that there are two separate aspects to Bitcoin. The first is that it is not controlled by any government and value is entirely set by the market. The second is anonymous exchange of value. You can have the second aspect without the first. A national currency can move into the second area.
bitco
bitco
Joined: Aug 16, 2013
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August 16th, 2013 at 3:33:46 AM permalink
Quote: Ahigh

It's going to be all about the Butterfly ASIC's for the remaining 11m coins. 1500GH/sec.



what is so special with this machine?
sevencard2003
sevencard2003
Joined: Aug 16, 2011
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August 16th, 2013 at 7:48:12 AM permalink
is there anyone here who can sell me bitcoin INSTANTLY for a bankofamerica transfer without waiting 3-4 days to go thru coinbase? of a small amount of under $50? will pay VIG, but i need some proof u are trustworthy such as history of trustworthiness on other sites.
sevencard2003.blogspot.com
knowitnothing
knowitnothing
Joined: Oct 14, 2013
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October 14th, 2013 at 11:52:34 AM permalink
Quote: sevencard2003

is there anyone here who can sell me bitcoin INSTANTLY for a bankofamerica transfer without waiting 3-4 days to go thru coinbase? of a small amount of under $50? will pay VIG, but i need some proof u are trustworthy such as history of trustworthiness on other sites.



You should try bitcointalk.org for that. But, if you are new there, I anticipate people will only agree to send you Bitcoins after they have confirmed your deposit, and then you run the risk of being scammed. For mostly solving that you will need to use some well known escrow (available in that same forum).
AZDuffman
AZDuffman
Joined: Nov 2, 2009
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October 30th, 2013 at 7:48:15 AM permalink
Quote: Ahigh

http://gizmodo.com/man-forgets-about-buying-27-of-bitcoin-is-now-worth-a-1454150399?utm_campaign=socialflow_gizmodo_facebook&utm_source=gizmodo_facebook&utm_medium=socialflow



Hopefully he sells and does not get greedy, turn half to cash and half to gold.

Anyone know why the price went wild this month?
All animals are equal, but some are more equal than others
Ahigh
Ahigh
Joined: May 19, 2010
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October 30th, 2013 at 8:09:14 AM permalink
Keeping money is harder than making it. If this is his first bundle, he will probably learn that lesson the hard way.

First mistake was telling the world how much.
bigfoot66
bigfoot66
Joined: Feb 5, 2010
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November 18th, 2013 at 3:12:02 PM permalink
Bitcoin is trading at $780 right now. So pissed I bought silver 2 years ago when I had considered speculating in bitcoin when it was under $5.
Vote for Nobody 2020!

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