This has been posted in a lot of other threads, but I haven't seen it in this thread:
Senator Schumer Says Bitcoin Is Money Laundering
from the apparently,-he's-unfamiliar-with-cash dept
http://www.techdirt.com/articles/20110605/22322814558/senator-schumer-says-bitcoin-is-money-laundering.shtml
I love that subtitle!
Topic: Bitcoin press hits, notable sources - page 74. (Read 430947 times)
The link above is worth commenting on. The title of the post is "US Senate drafting anti Bitcoin law", and the text was obviously written by someone in a big hurry or who is not a native English speaker. They make some outrageous claims:
The article offers no proof of these claims, and appears designed (IMHO) to drive down bitcoin prices.
Amusingly, the http://inflation.me link was useful enough to provide a link to another bitcoin article:
The Future of Money Is Online
http://bigthink.com/ideas/38809
Quote
Democratic Senators Charles Schumer of New York and Joe Manchin of West Virginia are in the process of drafting an anti-bitcoin law that would make trading or using the bitcoin currency illegal in the United States.
The draconian law (from what we have seen) would make ANY trades in the currency illegal. They are stating that the currency is constitutional.
They are citing that congress only has the right to print money.
Hence the argument is that bitcoins are already illegal.
Regardless the currency is under attack. http://Inflation.Me has become the central rallying point to save the online currency. The site is accepting bitcoin donations..
The whole problem with bitcoins is that they are out of the control of the Federal Reserve, this most likely has no where to go but bad.
The draconian law (from what we have seen) would make ANY trades in the currency illegal. They are stating that the currency is constitutional.
They are citing that congress only has the right to print money.
Quote
U.S. Constitution – Article 1 Section 8
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
Hence the argument is that bitcoins are already illegal.
Regardless the currency is under attack. http://Inflation.Me has become the central rallying point to save the online currency. The site is accepting bitcoin donations..
The whole problem with bitcoins is that they are out of the control of the Federal Reserve, this most likely has no where to go but bad.
The article offers no proof of these claims, and appears designed (IMHO) to drive down bitcoin prices.
Amusingly, the http://inflation.me link was useful enough to provide a link to another bitcoin article:
The Future of Money Is Online
http://bigthink.com/ideas/38809
Digital currency makes cocaine and heroin deliveries as easy as Domino's - Senators target narcotics-supply website and the Bitcoins used to pay for drug deliveries
http://gcn.com/articles/2011/06/09/bitcoins-digital-currency-silk-road-charles-schumer-joe-manchin.aspx
http://gcn.com/articles/2011/06/09/bitcoins-digital-currency-silk-road-charles-schumer-joe-manchin.aspx
"Senators draw a bead on BitCoin" - http://www.theregister.co.uk/2011/06/08/bitcoin_under_attack/
I like the subtitle: "Shock: people buy drugs with currency"
that subtitle is actually extremely funny and also hits the nail on the head. could've stopped right there.
Haven't seen this posted but enjoyed the article.
http://open.salon.com/blog/c4ss/2011/06/06/bitcoin_with_enemies_like_schumer_who_needs_friends
http://open.salon.com/blog/c4ss/2011/06/06/bitcoin_with_enemies_like_schumer_who_needs_friends
Namecoin and Bitcoin will be revolutionary http://is.gd/8zKOTT see "Orwell's Dictum" http://is.gd/2hsOWh
Source: http://twitter.com/#!/wikileaks
Source: http://twitter.com/#!/wikileaks
Here's Gavin talking to ABC Radio's excellent PM Show in Australia.
http://www.abc.net.au/pm/content/2011/s3240179.htm
http://www.abc.net.au/pm/content/2011/s3240179.htm
Quote
GAVIN ADRESEN: Bitcoin is really a pure money. It's a store of value and a means of exchange and that's all it is. It's almost a plutonic ideal of what money is, in that there is nothing backing it beyond the fact that it's useful as a money.
+1. Very insightful. Indeed, bitcoin is the
correction: I just realized that I just copied abc.net.au misspelling of "platonic"...
Time to fund nuclear war with BTC!!!
Here's Gavin talking to ABC Radio's excellent PM Show in Australia.
http://www.abc.net.au/pm/content/2011/s3240179.htm
http://www.abc.net.au/pm/content/2011/s3240179.htm
Quote
GAVIN ADRESEN: Bitcoin is really a pure money. It's a store of value and a means of exchange and that's all it is. It's almost a plutonic ideal of what money is, in that there is nothing backing it beyond the fact that it's useful as a money.
+1. Very insightful. Indeed, bitcoin is the
correction: I just realized that I just copied abc.net.au misspelling of "platonic"...
Im new here and I found out about this from a link on www.whatreallyhappened.com I think this is going to change the world and im excited about becoming part of the community.
Note really "notable" necessarily, but blogger Anthony Freeman has some throughts on "the coming attack on bitcoin", and the impact it will have on bitcoin prices which I think are very important for anyone who holds bitcoin to read:
http://economicsandliberty.wordpress.com/2011/06/07/the-coming-attack-on-bitcoin-and-how-to-survive-it/
He also has two earlier articles on bitcoin:
http://economicsandliberty.wordpress.com/2011/06/04/the-real-problem-with-digital-currencies-and-privacy/
http://economicsandliberty.wordpress.com/2011/06/04/further-observations-on-bitcoin-digital-currencies-privacy-and-liberty/
http://economicsandliberty.wordpress.com/2011/06/07/the-coming-attack-on-bitcoin-and-how-to-survive-it/
He also has two earlier articles on bitcoin:
http://economicsandliberty.wordpress.com/2011/06/04/the-real-problem-with-digital-currencies-and-privacy/
http://economicsandliberty.wordpress.com/2011/06/04/further-observations-on-bitcoin-digital-currencies-privacy-and-liberty/
Spiegel Online, one of the biggest German news websites online, reports on Schumer, Silk Road and Bitcoin (the 3rd time in 10 days):
http://www.spiegel.de/netzwelt/web/0,1518,767557,00.html
This will definitely increase the media-output on Schumer vs Bitcoin in Germany.
http://www.spiegel.de/netzwelt/web/0,1518,767557,00.html
This will definitely increase the media-output on Schumer vs Bitcoin in Germany.
Interesting. Through that lnk, I saw this.
It would appear that it is illegal to trade a virtual currency for a physical item or service in China. I wonder how long before they crack down on that. The poor Chinese might find be the first to find out what it's like when the old guard fights back.
Like mining world of warcraft gold and selling it for physical currency?
Here's Gavin talking to ABC Radio's excellent PM Show in Australia.
http://www.abc.net.au/pm/content/2011/s3240179.htm
http://www.abc.net.au/pm/content/2011/s3240179.htm
Interesting. Through that lnk, I saw this.
It would appear that it is illegal to trade a virtual currency for a physical item or service in China. I wonder how long before they crack down on that. The poor Chinese might find be the first to find out what it's like when the old guard fights back.
The Wall Street Journal Online is epic!
I'm calling it: < 6 months before an institutional investor dumps more USD into BTC than all BTC enthusiasts so far.
The Wall Street Journal Online is epic!
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