Topic: Anti bitcoin/crypto/gift card/redeemable legislature bill proposed in senate (Read 1200 times)
September 22, 2017, 10:26:23 AM
We should also recognize that any form of money or small money can be used for the same purpose. Just ignore the government when talking about taxes and codes and rest assured that you are 100% safe and undetected if you are using a mixer. But it will not happen to the population divided as The current. We may have a way to go before that time, if ever. But yes, it would be great if one day tax was to improve society
July 13, 2017, 02:54:22 PM
This is quite funny considering just yesterday some guy held up a "Buy BTCitcoin" sign behind Janet Yellen (current Chair of the Federal Reserve) on live television. He was later escorted out of the courtroom (where she was giving her testimony) and his friend shared a pic of him and his Bitcoin address on social media.
So far he has received almost five Bitcoins in donations. xD
So far he has received almost five Bitcoins in donations. xD
July 13, 2017, 02:02:38 PM
As far as I can tell, this senate bill 1241 news release was the cause of the last big price drop.
News release was on june 14th, right around the timeline of the last big decline.
If nothing else, the search and seizure part of this bill which claims the government has the authority to confiscate crypto without due process has to be anti-constitutional.
I would have to think it won't pass on that basis alone.
The problem is the patriot act and other legislature have eroded the 4th amendment and set a bad legal precedent for laws ignoring it.
The amendments are going to be twisted, because they're not searching in houses for bitcoins but rather for anyone travelling with bitcoins in their laptops. So they'll probably say it's just to strengthen the border control etc.
In the past, laws that outlaw gold holdings has been implemented. So don't expect everything to be done the way it should be, the president can sign an executive order much like the last one(https://en.wikipedia.org/wiki/Executive_Order_6102) that said you can't hold private gold.
Though the law also targets gift cards, which is a very important revenue source for big corporations, making me think that the bill probably won't get passed.
The amendment doesn't exclusively specify "in-house" searches.
That's a good point on gold holdings/gold standard, btw.
News release was on june 14th, right around the timeline of the last big decline.
If nothing else, the search and seizure part of this bill which claims the government has the authority to confiscate crypto without due process has to be anti-constitutional.
I would have to think it won't pass on that basis alone.
The problem is the patriot act and other legislature have eroded the 4th amendment and set a bad legal precedent for laws ignoring it.
The amendments are going to be twisted, because they're not searching in houses for bitcoins but rather for anyone travelling with bitcoins in their laptops. So they'll probably say it's just to strengthen the border control etc.
In the past, laws that outlaw gold holdings has been implemented. So don't expect everything to be done the way it should be, the president can sign an executive order much like the last one(https://en.wikipedia.org/wiki/Executive_Order_6102) that said you can't hold private gold.
Though the law also targets gift cards, which is a very important revenue source for big corporations, making me think that the bill probably won't get passed.
The amendment doesn't exclusively specify "in-house" searches.
That's a good point on gold holdings/gold standard, btw.
July 02, 2017, 10:12:39 PM
If nothing else, the search and seizure part of this bill which claims the government has the authority to confiscate crypto without due process has to be anti-constitutional.
I would have to think it won't pass on that basis alone.
The problem is the patriot act and other legislature have eroded the 4th amendment and set a bad legal precedent for laws ignoring it.
The amendments are going to be twisted, because they're not searching in houses for bitcoins but rather for anyone travelling with bitcoins in their laptops. So they'll probably say it's just to strengthen the border control etc.
In the past, laws that outlaw gold holdings has been implemented. So don't expect everything to be done the way it should be, the president can sign an executive order much like the last one(https://en.wikipedia.org/wiki/Executive_Order_6102) that said you can't hold private gold.
Though the law also targets gift cards, which is a very important revenue source for big corporations, making me think that the bill probably won't get passed.
July 02, 2017, 12:53:52 PM
If nothing else, the search and seizure part of this bill which claims the government has the authority to confiscate crypto without due process has to be anti-constitutional.
I would have to think it won't pass on that basis alone.
The problem is the patriot act and other legislature have eroded the 4th amendment and set a bad legal precedent for laws ignoring it.
July 02, 2017, 04:42:44 AM
Solution:
1. Buy a TREZOR.
2. Create a load of hidden wallets behind additional passphrases.
3. When they look at it, they won't see that you're travelling with >$10,000.
1. Buy a TREZOR.
2. Create a load of hidden wallets behind additional passphrases.
3. When they look at it, they won't see that you're travelling with >$10,000.
That's not wise, because technically you'd still be travelling with $10000 and no matter how many addresses you create, there might still be a way for the government to detect that you have this much and potentially fine you for not declaring or even confiscate your coins.
The easy solution is to get a 2-2 multisig wallet. Have one redemption/private key as one of your addreses', and the other as one of your family member's or trusted friend's addreses. Don't tell him/her your private key because they can take your coin with ease if thats the case. And when you go to the US, if you need access to coins, you just give them a call and they give you the private key, and you can access your coins. You never really owned the coins this way. Or you could use Chipmixer's new service, but it's based on the same concept.
The new laws are definitely going to negatively impact bitcoin. Though i don't see how it can be enforced. Warpwallets(basically a more secure version of brainwallets) is virtually indetectable.
July 02, 2017, 03:12:21 AM
That is good for bitcoin, now the people will select between dollar or btc. Time to make your bets 
No, it's extremely bad for Bitcoin, because it implies that they're trying to prevent people from travelling with too much of it.Solution:
1. Buy a TREZOR.
2. Create a load of hidden wallets behind additional passphrases.
3. When they look at it, they won't see that you're travelling with >$10,000.
July 01, 2017, 03:24:19 PM
It's still a bill and is still up for review. If it is logical then it may be approved but looking at it, it could be damaging to the public and might be revised. A law needs to be fair to every party and should not be confiscatory in nature. I guess regulation is expected and inevitable. Being decentralized, a feature of most crypto, doesn't mean it will be immune to regulation of the state where the user belongs to.
This is a very important point. Also even if it passes, they will still have to find a way to track your coins which is almost impossible and no software will help them do it. The only way for them to get your coins is if you give them away yourself. Good they still can't torture you to make you spill the passphrase
July 01, 2017, 02:47:32 PM
It's still a bill and is still up for review. If it is logical then it may be approved but looking at it, it could be damaging to the public and might be revised. A law needs to be fair to every party and should not be confiscatory in nature. I guess regulation is expected and inevitable. Being decentralized, a feature of most crypto, doesn't mean it will be immune to regulation of the state where the user belongs to.
July 01, 2017, 02:37:05 PM
I'd really like to know how the US government plans to follow up their intention to "seize" cryptocurrency. Crack the private keys from their citizen's wallets? And how would they propose to utilise these seized assets? Exchange it for their USD?
I guess what they will want to encourage is voluntary disclosure and those threats are what will follow eventually when they found out. Seizing assets does not necessarily means they would convert it the moment they can use it to get conviction, they can also conitue using it for more caldenstine operations and off the books missions. So, the possibilities are endless in using it.
July 01, 2017, 02:07:59 PM
I haven't seen any updates on this. Senate Bill 1241, upon which this is based, must be anti-constitutional to some degree. I have to look up what the constitution says on lawful search and seizure.
Hopefully someone is organizing a petition / raising awareness on this.
Hopefully someone is organizing a petition / raising awareness on this.
June 30, 2017, 04:26:18 AM
Right now, there seems to be a jerk reactions from the government on matters of crime and terrorism. While it is true that Bitcoin or nay cryptocurrency for that matter can be utilized for terrorism activities we should also realize that any form of money or fiat money can be used for the same purpose.
While I personally agree that we have to address the terrorism head on we should do it without getting a heavy collateral damage on the freedom and liberty of the ordinary citizens. Without getting into a certain balance, the solutions can result into more problems.
There are no easy answers for problems affecting our society for now but we should always think many times if the supposed answers we are offering will not kill a blossoming industry.
While I personally agree that we have to address the terrorism head on we should do it without getting a heavy collateral damage on the freedom and liberty of the ordinary citizens. Without getting into a certain balance, the solutions can result into more problems.
There are no easy answers for problems affecting our society for now but we should always think many times if the supposed answers we are offering will not kill a blossoming industry.
You have a massive point there. Let's say the government has a good intention behind this but we should think of a way that will not kill this blossoming industry. I believe that there are ways that the government can do which will not require resorting to this. Hoping for them to be more open minded regarding this matter so they will see other viable options awaiting to be pulled out.
Meanwhile in Japan, it's spreading and making a really good use to it.
I have known this topic through this: https://bitcointalksearch.org/topic/bitcoin-under-attack-with-usa-senate-bill-1241-1992072
There is already a thread on this.
https://bitcointalksearch.org/topic/m.19623419
I don't understand why good threads on forums are ignored while the generic and pointless threads reach 50+ pages.
It seems like an industry standard.
https://bitcointalksearch.org/topic/m.19623419
I don't understand why good threads on forums are ignored while the generic and pointless threads reach 50+ pages.
It seems like an industry standard.
Also has a point.
June 20, 2017, 05:31:51 AM
This is something which was not so unexpected. The government will try to ensure that it gathers the taxes and the tax dollars contribute to the development of the country. However, there has to be adequate measures to ensure that it does not go in the pockets of the corrupts eventually.
June 18, 2017, 11:33:55 PM
I am not seeing this as anything anti- bitcoin in any way because what they are doing is just exploiting the loophole which some people have given them the opportunity to exploit despite the fact that they have not even foxed their own issues politically. At the same time, I see this as a way for slowing down the growth of bitcoin but they cannot stop it unless they have the key to destroy everything all together which is something very difficult to achieve. When a group of people make a resolution to pursue a course if action, nothing is stopping them.
June 18, 2017, 09:57:43 PM
I'm still confused as to why they go after prepaid sources of money, though. I guess you could re-sell them for cash since they provide value for owners of the cards, but it doesn't really make sense as to why they care about them so much. It's not like a terrorist is going to be able to buy a kalashnikov with a wal-mart gift card (although they might be able to if the demand is there).
I view this as banks flexing their politicial influence to attack business competitors as a means of achieving a bank monopoly over currency exchange.
If ford, chrysler and GM influenced the UN into confiscating cars made by toyota, nissan, acura, honda, suzuki & other foreign automakers to give themselves a monopoly over the domestic vehicle market, that could represent a similar precedent.
State authorities should require probable cause to confiscate money which represent peoples livelihood. There should be a form of paper trail, a system of checks and balances to ensure the power to confiscate currency isn't abused.
June 18, 2017, 02:53:10 PM
I'd really like to know how the US government plans to follow up their intention to "seize" cryptocurrency. Crack the private keys from their citizen's wallets? And how would they propose to utilise these seized assets? Exchange it for their USD?
June 18, 2017, 02:31:42 PM
That is good for bitcoin, now the people will select between dollar or btc. Time to make your bets
June 18, 2017, 02:05:44 PM
Your tax dollars @ work.
Wouldn't it be nice if tax dollars went towards bettering society rather than propping up the corrupt, dysfunctional, standards of elites.
Paypal, police, DEA and others already confiscate money without just cause. This bill would give the state the power to confiscate any crypto for no reason whatsoever and imprison those who didn't report their crypto holdings so that the state could steal it.
It will only change once either the elites give up their power, or when a manipulated population rises up, unites and stops contributing to this system. But it will not happen with a divided population as it is now. We likely have a ways to go before that point, if ever. But yes, it would be great if taxes one day went to improving society.
June 18, 2017, 12:49:26 PM
You seem to make a lot of these threads, don't you Hydrogen? Or is it someone else with the same signature. Doesn't really matter to me either way.
I'm still confused as to why they go after prepaid sources of money, though. I guess you could re-sell them for cash since they provide value for owners of the cards, but it doesn't really make sense as to why they care about them so much. It's not like a terrorist is going to be able to buy a kalashnikov with a wal-mart gift card (although they might be able to if the demand is there).
The US government does enough already. I don't know why they bother with petty shit like this.
I'm still confused as to why they go after prepaid sources of money, though. I guess you could re-sell them for cash since they provide value for owners of the cards, but it doesn't really make sense as to why they care about them so much. It's not like a terrorist is going to be able to buy a kalashnikov with a wal-mart gift card (although they might be able to if the demand is there).
The US government does enough already. I don't know why they bother with petty shit like this.
June 18, 2017, 12:40:55 PM
Bitcoin has alot of enemies from the beginning but it has conquered them. Hope this bill will be thrown into dust bin. Most of the American elites who has they assets in billions of dollars has be fighting bitcoin from inception because they know bitcoin was invented to help the poor in the society especially The third world countries.
Jump to: