Topic: 2013-06-13 Latest from FinCEN - page 5. (Read 6963 times)

The evidence of their scheming is the fact that the US govt. has just admitted to the largest spying operation, on its own citizens, in history.


If you don't like BTC, why do you hang around this forum?

I'll just say I'm happy I live on the european continent and have no chosen intermediaries of mine having to report to the FINCEN.

I counted the times that child exploitation was mentioned in a speech AGAINST, not for virtual currencies and just left it at that.

There may be people who cannot see what she truly is communicating but I know what my opinion of this american posse move is and it is not "positive in overall" at all. A war and hunt clearly was initiated evenso if it will be impossible as bitcoin is a global hydra.

Finally, with the spying scandal of NSA and bonus with america using rape of enemy territory teenage girls as an experimental weapon which was filmed for study, the integrity of the country is in my book a full round zero.

Simple as that, my BTC0.00000002.

Think of the children!

Now please keep paying the inflation tax so we can start more wars. And keep paying bankers to evict families out of their bubble-priced homes. And support our drug laws that make medicine expensive and encourage underage drug mules.

+1

with a few sentences they could have done much harm to the bitcoin price, which is in some critical phase anyway. and they know that. if they would want to destroy it anyway, there would be no need for this soft talk. they decided not to destroy/fight/harm it. that is a good sign. there is some protection/pro bitcoin lobbying going on already. maybe the governments actually welcome this new competitor to old-fashioned banking. bankers have lots of political power. sometimes it is not really clear who is the one with more power: bankers or politicians. politicians know that we know and that is emberrassing. if a competitor for the banking moloch is rising, it can be used by politicians as a tool to regain some influence. if there is a power you are struggling with, anything that weakens your opponent is welcome. the higher ranking a politician is the more strategic his views are. going after bitcoin only because some traditonal bankers say so would be a terrible strategy for anyone who feels the power of the bankers daily.

this does not mean that all the bankers hate bitcoin. most of them think in terms of profit. if they can profit with bitcoin they will do so. bookshops sell kindle devices. banks will sell/handle bitcoin. they will be happy to dig their own gaves as long as they get payed for...

I'm fine with this - but what will it be then? Paypal light?

I suppose if you have built your world around the idea that the government is an evil institution who's secret plans are to get you, then you will read this as evidence of their scheming.
Here in the real world a document like this is a welcomed addition to the legal precedent. It is the most positive document I have yet seen from a regulatory body. You can all send FinCen a tip from the profit you are about to realize due to this.

If your problem is that any regulation is unwelcome, then stick to shitcoins. Under no legal scenario are you going to be able to make fiat money off bitcoin and not pay taxes. The moment you turn your BTC into $USD you are using THEIR money and must play by THEIR rules.  You can't have it both ways.

They can pay their bills in Bitcoin. This is why it was so important when Bitcoin suppliers started popping up instead of just sellers, because it's important to have a closed loop without fiat. Supplier -> Reseller -> Customer -> Wages

that is how i understand it. miners get rewarded for the computing power they contribute. the reward is in bitcoin. no third party.

I found it disturbing to read a lot of bitcoin-related headlines being cited in this document, while the body doesn't even mention bitcoin.
The message, to my hears, is :
1. "We know this virtual currency thing is mostly about bitcoins"
2. "We will not confirm or deny we are currently working on regulating bitcoin"
Which is quite disturbing to me. Maybe they want to keep all options on the table while they try to find ways to regulate bitcoins behind their "closed doors". Maybe they're not sure if they can or cannot, technically speaking, at this time.

Sure, just provide the money necessary for the paper-shuffling beaurocracy, time wasted (because time = money) and to cover the alternative cost of having less clients.

I totally agree with you on this, but the value can't be kept crypto/virtual forever. Merchants have to pay their bills, Miners their energy and so on.

translation is get rid of tin foil hats and chinese whispers. read the regulations about FIAT and realise they can only control the FIAT. so get regulated if you are touching FIAT.

bitcoin unaffected, pools unaffected bitcoin-QT unaffected.

just those innovative teentrepreneurs (teenage amateur entrepreneurs)wanting to exchange fiat for other currencies GET REGULATED.

thier defineition of virtual currency is the difital database balance which resemble FIAT. such as 10.00 which can be cashed out as $10 bank note.. not facebook credits. world of warcraft gold, linden's, bitcoin, litecoin.

so chill out guys gavin andressen has no plans to make logging into bitcoin-qt a manditory registration process involving birth certificates. neither do any of the pools or merchants accepting bitcoin.

just the bitcoin-fiat exchanges.

this is warspeak. The translation is:

Make us a proposal about the conditions of your surrender.

LOL

Here is my theory (it was revealed to me in a dream). They want to amass more bitcoins via market manipulation err regulation so that they can fund more terrorism (through the Office of Terrorism of course) so that they can in turn push for more regulation. In the mean time they want complete records of MtGox database so that they can track down large bitcoin holders around the world and extort their bitcoins by fabricating fake sex charges against them (http://youtube.com/watch?v=hl4NlA97GeQ at 5:07). In order to achieve their ends they pretend to look as friendly as possible and all wear smiley shirts (google George Carlin smiley shirts, http://youtube.com/watch?v=eWhdDypWJPs at 5:50).

Pretty depressing really.

They could replace "Liberty Reserve" with "Bitcoin" and it would still be just as accurate, more so actually.

Yeah... "A great bestowal of trust". It has nothing to do with preventing competition. no no.

The saddest thing about this entire document is that they never mentioned that foreign companies / individuals are exempt as long as they do not deal with US.

Guess nobody is really exempt from the almighty world police of USSA.

The "think of the children" card, honestly, it's getting kind of old.

Oh, the sweet sweet irony.

My theory is that most of the actual humans who work in financial regulation - these are smart people working in a huge, inefficient machine of byzantine rules designed for another era - totally love Bitcoin.

There's a bit in one of the P J O'Rourke books - I think it's Parliament of Whores - when he talks about going to meet the motor vehicle regulators and finding they all loved to tinker with cars, and feeling like he'd gone to the DEA and found them making bongs. I bet loads of people in FinCen and other financial regulators hold Bitcoins, and a lot more think it's awesome.

Correct, this just means that miners would have to go through an exchange if they want to convert their btc to fiat. However, this seems to mean that even individuals that convert btc to fiat must register as MSB.

Office of Terrorism? Isn't that just CIA?

Wow, this is SO bullish you can't even imagine...

Bitcoin rising