Topic: Liberty Reserve shutdown is a boost for Bitcoin? - page 7. (Read 12720 times)

Can you start learning to read, or stop eating magical mushroom: I've never justified anything of this kind.
Quote me if you can...


 
You have the bad habit to argue with your own imagination.

So, no,  I'm not upset, and I've never stated to be the (big) one that can allow (or prevent) money to become dirty  
I just asked how much dirty money flow impact btc price
Does this question upset you?

No, I don't.

You justify shutting down LR because it was used by criminals. All I'm asking is why don't you apply same logic to $$, because the dollar is indisputable leader as the currency of choice among criminal?

The real question is if you regulate the dollar as a currency why did you allow some of the dollars become dirty dollars? If you can't prevent some dollars become dirty dollars how do you expect to prevent some bitcoins from becoming dirty bitcoins? And why are you so upset of bitcoin price appreciation?

Don't you think you mistake wish for knowledge ?

Imagine what kind of mistake did those who bought coins at $32 in 2011, to then sell at a loss when they witnessed the slow decline to $2.

$200/BTC are cheap coins in the long run, if you didn't understand that you really don't know much about Bitcoin.

This is not a get-rich-quick scheme, it will be a bumpy ride but in the long term BTC will go either to +5 figures or to 0.

Those who bought 200$/btc certainly agree with your last sentence...  

 
If you've just discovered that criminal use money, good for you, but where did you read I want to suspend/burn anything?
The real question here is not "can criminal use btc?" but  "how much does dirty money flow influence btc price?"...

Only 50%?  In the US it is closer to 97%.

A hedge against never ending money printing of central banks and puppet governments. People need sound money for their retirement and health insurance.

Criminals most use dollars for their criminal activities. Using bitcoins or Liberty Reserve for criminal activities is just a fraction of the criminal activities whose turnover is in dollars. Why don't you suspend all transactions in dollars?

In fact, a recent research found out that on every second pound bill in the UK there are traces of cocaine. Will you burn half of the banknotes in circulation?

 
Please, do not confuse co-incidence and causation ...


An hedge against what???
For many people since april, bitcoin has been the best way to give away money to market manipulators and/or rogue trade service.
They just came From Charybde to Sylla 


What exactly does make you think that criminals didn't use bitcoin before the bubble ?

Guys look at silly coinseeker, back-pedalling, tl;dr'ing, denying his way out of a corner.   

The tl;dr is a amateur pro move; I didn't expect him to pull that one out, I'm soooo offended

Actually the moment bitcoin has received the biggest increase of new users has been after cyprus. For many people bitcoin is just an hedge against a financial system that is totally rotten and don't want to lose the money they earned. Most people are not drug dealers but still decide to invest in gold/silver/bitcoins to avoid a possible future collapse coming to a cinema close to you very soon. The number of newcomers after cyprus has been so big that after them came the speculators and from there to the bubble/correction. I doubt the crime money is a big percent on bitcoin. If that is not the case why didn't the criminals use bitcoin before the bubble or during 2010/11?

One question: Why are you in this forum? You don't seem to like bitcoin too much and also seems you are not here for the money either as bitcoin will be a disaster if one believes you.
Are you a terrorist?

Well, my apologies if I assumed you were implying that, but I didn't have many other choices, did I?


I understood this as follow:

LR (criminals) ---> criminals go to bitcoins ---> price go up because of criminals


Now, if you didn't really mean the first two steps, we are left with this:

?? -----> ?? ---->  price go up because of criminals.

No, you assumed that's what I said.  Big difference.  My statement was about their desire for anonymous transactions.  Exactly why they were involved in LR, in the first place.


Because your point was moronic, as it was based on your flawed assumption.


The fact that you even offered A or B, tells me there is no way I can take you seriously.  I mean, really?    You're actually a smart guy with markets and what not.  You can't possibly be this blind.  This is the whole ideological point of bitcoin.   

No, you implied that LR was used by criminals, because "otherwise they wouldn't need LR".

Then my point was that criminals don't need LR, because they are already using the legacy system.

After which you declared victory. 

You just take for granted that (A) those using LR were criminals, and that (B) their needs would be better served with Bitcoin than with any other usual financial instrument.

Prove A, then B, and then I'll be able to take you seriously.

Didn't say any of that...try reading before you post.


Of course it is.  Bitcoin caters to criminals.


tl;dr


More of the same....tl;dr

Apparently because you're saying that "criminals" from Liberty Reserve don't need bitcoin because they can just use the legacy banking system.  What you seem to fail to understand - why I don't know - is Bitcoin, like Liberty Reserve provides an anonymous safe haven.  You don't get that with legacy banking, so you're point is ridiculous.  

Coinseeker, think before you type. Fiat currency is used for child porn, human trafficking, guns, violence, etc far more than BTC or LR are, yet people flock to it like blind idiots. You think people don't make that argument constantly despite its complete invalidity? Keep saying it over and over again "Bitcoin is for criminals," it might become true

LR being shut down is great news for bitcoin.

The protocol of bitcoin can't be easily shut down by the state but the front end can - however, black market criminals don't care about the ability to KYC and ACH funds to Gox or whatever, since they don't do that anyways. You know, just like how people don't care that you can't walk into a nice, safely furnished corner store to buy heroin, and great-Grandma didn't mind having to remember the password for the Speakeasy (and risk arrest) in the 1920s when she was a college girl. If you think a billion dollar company is going to embrace bitcoin and that is the only thing that will make it "successful", you are full of shit, and more irrational than even the most irrational bull on these forums

As with any currency or payment system, there are criminals that will use it and there are normal folks that will use it. We can argue all we want about the ratio of "normal folks vs criminals" that use it and how that fares for either adoption or price but that is a useless, irrelevant discussion. The red herring of red herrings in the Bitcoin world.
If only criminals use it but use it en masse, price will go way up and Grandma won't like it, but the government won't be able to shut down the protocol/network. If only Coinseekers use it, Grandma still won't like it but only because she just can't understand it, and the government still won't be able to shut it down, and price will still go way up. Either way everyone wins except the banksters and Coinseeker's Grandma.

Coinseeker: bad guys need a new refuge and they come to bitcoin.

Me: They don't need to, they already have what they need.

Coinseeker: Yes, but you are wrong. Herp derp.


Did I miss your point?

As is Bitcoin, smaller even, so you still have failed to make a valid point.  Here I actually thought you were one of the smart ones. 

Oh wait! Nobody was using LR for legit purposes! They were all child-porn-drug-dealer-assassins!

With the size of the black market, LR was nothing but a drop in the ocean. Banks are involved.