Topic: Liberty Dollars ban goes into effect at eBay (Read 5911 times)

The funny thing is that now as Bitcoin is known, even if it is completely flattend and Satoshi gets some jail time, the idea of a P2P currency is hard coded into the minds of thousands and not something that can be forgotten. The Bitcoin idea is unforgettable and many clones and barter currencies will take it's place if nescesary.

FYI, I came up with the idea for Shire Silver because of the raid on the Liberty Dollar. I was trying to figure out a way to decentralize bullion production but couldn't get traditional bullion minting to be cost effective for small production runs, which led to the card model which can be cost effective. Its also much easier to use than traditional bullion. So the govt/fed shot themselves in the foot - again.

I am a big proponent of multiple avenues of attack - that way the enemy can't allocate defensive resources efficiently and they will lose because at least one of the avenues of attack will succeed. Bitcoin just seems to be the one most likely to succeed right now, which means they'll probably target it instead of Shire Silver.

And if they focus on trying to stop bitcoins, then my Shire Silver model will escape notice until its too late. 

Techshare, I completely agree with your response, that any rival currency at some point becomes a target for regulation. The heat will focus on Bitcoin however, as there is no need to flex the government muscle twice when the end goal is destruction or hampering of Bitcoin.

Even if casacius coin is physical coin that is literally in conflict with the law, it will be a waste of government money to ban it as it's value in bitcoin is intact.

it's like designer drugs where the chemists change a few bonds to make a new drug that isn't yet outlawed. If Casacius coins were outlawed, a casacius note or figurine could be traded legally the following day.

creativex
+1

To the point.

If you read thru this case it is really not about what is and what isn't legal currency. The man challenged the powers that be and they blinked. When the government wants you they will have you. BVNH was railroaded and the customers of NORFED were robbed, not by its creator, but by the federal government that seized about $7 million in gold, silver, and platinum. Even outbound orders still intransit were redirected back to HQ for seizure. They even tried to seize the minting machines but they found they couldn't because the same mint makes the blanks for the US treasury   -_-   Idiots trying to rob their own supply chain. In the end this was all about grooming a jury and applying force under color of law. the unilateral ban on ebay sales is just more proof of this. If NORFED rounds are really legally classified as contraband why are they still on amazon? All they were doing was selectively targeting the most successful centralized NORFED trade market.

Spent Casascius coins are traded with empty wallets, but that hardly make them a currency or means of payment, they are more a collectible.

Un spent casascius coins with an intact hologram is different. However Bitcoin itself has to be ruled a currency or a mean of payment before Casascius coins become illegal.

Just wanted to repost and say this has made more collectors come out of the woodwork for me on Bitcoin talk. I guess people want what you tell them they can't have.

Even Forbes thinks its bullshit.
http://www.forbes.com/sites/jonmatonis/2012/12/15/u-s-secret-service-bans-certain-gold-and-silver-coins-on-ebay/

I have a decent collection, PM me, or see my post: https://bitcointalksearch.org/topic/wtsgoldsilver-999-cash-out-fast-rare-norfeds-live-price-big-order-discount-58518

Put up a "want to buy" ad in the marketplace subforum?

I seriously think of buying a set of these coins.... Does one know how to get them in Germany?

Mircea essentially said everything I wanted to say here.

As long as you live in Soviet America the answer to this and any other question regarding you going to jail is yes. Yes, you can go to jail at any time for any reason. Because you are not free people over there, you're already in jail. Simply moving cell blocks is a purely administrative matter, and it is for this reason right that it should be handled by the administration.


The story of never ending "ok guise this time fo real" overlapping but worthless currencies in Latin America and other backwards places would pretty much support this theory. After the collapse of the current dollar there will be the "Unity", then the Chicago Dollar, Californian Cali and Boston SHRIMP, then some scheme for a new "Federal", then bla bla bla. All of them losing 10-90% each year.

I'll buy it for 1 btc. I could also offer various copper 1oz norfeds.


BTW, little known fact: Liberty Reserve was formed because of inspiration created by Liberty Dollar to create a more equitable trade system, in this case digitally. The two companies had close relations for a while.

I mean these.

Also using alternative currencies is not a crime despite the characterization as such by the federal government.

Because a lot of the value in an alternative currency is the network of people using it, so building it up *before* a collapse means its more likely to succeed after the crash.

Of course some of us don't believe there will actually be a crash, just a sort of continuing malaise that progressively gets worse until the need for a replacement currency is unavoidable. The politicians will be ready to foist off another fiat POS currency that will "save the economy", and we'll get screwed in the never ending cycle of bankster control. Some of us want to end the cycle, so we want to build up the alternatives before a replacement is critically needed, so we can step in with a credible and tested non-POS solution.

Hey uhm, wouldn't it be best for the people that have come up with their own coins/money, to just hide it and wait for collapse or an acceptance of competing currencies to come out with it?

Why risk federal "pound-me-in-the-ass" prison?

Yeah, you're technically correct, but the point I was trying to make is that a product won't get produced if it costs more to produce than you can get for it. This holds true for products that happen to be money as well as any other product. If the price of electricity rose so high that it cost more to create a bitcoin than it can be traded for, then miners will stop producing them. Of course the system was designed so that when some miners stop mining it will get easier, thus reducing the cost, so an equilibrium will be reached, etc etc.

The pertinent case being that since the Liberty Dollar was trying to be an actual free market money, it had to be priced above the spot price of the metal. Bernard also recognized that the volatility of prices was a factor that would confuse people and add to the difficulty of using it, so he figured out a way that reduced the MSRP volatility as well as built in a means of profiting by using it - thus making growth in usage better.

IMHO many supposed Austrians/gold-bugs seem to have a blind spot when it comes to spot prices. They just can't seem to recognize that a monetized commodity should have a different price than the generic version of that commodity. Just putting the commodity into a more convenient form does add some value.

This is incorrect. There's no "underlying commodity for bitcoin", Bitcoin itself is the commodity.
Saying electricity and processing power are underlying commodities for Bitcoin is like saying mines and "excavation power" are underlying commodities for gold (or any other metal).

This, btw, is a frequent mistake concerning Bitcoin: https://en.bitcoin.it/wiki/Myths#The_value_of_bitcoins_are_based_on_how_much_electricity_and_computing_power_it_takes_to_mine_them