Topic: New US law proposal will make all crypto illegal - page 3. (Read 6650 times)

Trying to ban cryptocurrencies is like trying to fight the war on drugs. It'll only expedite the creation and adoption of more anonymous crypto's

I hope by allowing bitcoin in the US. Gives great advantage to bitcoin's reputation and reinforces bitcoin in the eyes of the world.
For the negative side that will arise from the regulation, hopefully can be overcome and does not affect the state of bitcoin in this world.

"normal" ?

And i love your avatar.. you are advertising Ethereum Gambling.
Both of which are on highly shaking ground legally.

You are missing the point..
Take for example the wide sweeping AML/KYC regulations implemented in crypto.
Those were put into place because of a minority.
Yet affected all 100% of the users on the given exchange.

Get it yet ?

PS:
I am sure the fed's are eye-balling crypto related GAMBLING regulations as well.
Just because you are doing something and did not get caught yet doesn't mean it's ok.
Law is coming and we are just getting started. 

And it's the schemes like your ICO avatar gambling advertisement that is bringing it on to us all.
Affecting even REAL currencies like Litecoin that have to suffer because of scammy crap like ETH.

Do you put that title up there to get more thread traffic or can you honestly not read the words in the law that YOU linked to?  I see this here all the time, a thread will say "the sky is red" and then post pics of the blue sky.  I know that the drama addict in your guys just needs a deep conspiracy, but that set of regs is pretty clear and would not affect a normal crypto user in the US at all.

There is an expansion of the search and seizure there from the last mention, but, guess what, if the government is looking for a reason to seize your wallets, then that is because you have done something pretty damn wrong to get there.  These regulations are not created so that the police can ride up and down the street and randomly ask for a person's crypto wallet for a quick look.

decentralization  ?

I take it you seen ETH ranked as no. 2 ?
It is centrally controlled.
It's an ICO which is the antithesis of decentralization.
It has ICO's on it which makes it even worse.
It's traded for profits on mostly govt controlled centralized exchanges.

Anon ?

No thanks.
That will make what we're talking about here worse.
Compliance is the key to adoption.
Either you support regulations or crypto is going no where.
Unless you see a bright dark market niche coin future 

And this is why decentralisation and anonymity are so important. Hoping for the right decisions in the coming months.

This is the reason for bitcoin in the first place. Remove control from the controlling government.

The more that the government goes after bitcoin (and alt's) the more the price will rise. Think of drugs, more rules and regulations and the bigger the war, the more profit !

What are they going to do ? Ban the internet ? Ban VPN's ?

They can try but they will not succeed. Shut down polo, I will go to bitshares dex !

Ban coinbase ? I will use wallofcoins and localtbitcoins

The problem is the noobs with weak hands that don't understand the whole backstory of crypto

All crypto? Speak for yourself yankie boy.

Banning crypto coins would be impractical and unrealistic.
What we're really talking about is regulations etc.

As in they are allowed to exist.. but !

The "but" is that you will have to pay taxes for example on your exchange profits.
And.. that exchanges themselves will collect your picture ID etc to keep tabs on you.
This is already happening.

You guys fail to see WHY exchanges have a "getting verified" system in place.
They do it for one single reason.. LAW.

AML/KYC laws exist and are enforced and are utilized heavily by US govt 3 letter agencies.
How do you think US govt got the owner of KickAssTorrents info from Coinbase ? (to arrest Artem)
Which is funny because BigVern laundered millions there an got away with it.

I've gone through all this for years.
You all say the same stupid shit..

The same type of stupidity where users play dumb about Paypal's TOS with crypto.
Crypto has known it is against their rules all long since min 2012.
yet look at the market sections.. see 1,000's doing it ?
I seen some of them say they get caught and simply make a new account.
Well what happens when your account is seized and you can't pay the guy who bought BTC via PP ?
The anon forum guy vanishes.. that's what.

Yes that is one of countless forms of regulations employed ALREADY in crypto.
With much more on the way guaranteed.

Bottom Line:
Crypto is an island.
Ties to FIAT keep the life blood flowing.
If noobs can't show up here like they did en mass and chant "How do i send my money here?" on the Cryptsy chat box then we have a rather large problem.
Back then they all chanted no.. we don't need ties to FIAT.
Bullshit !

A currency can not be marooned on an island.
If value can not be moved from one currency to another we got problems.

And funny enough it's me who has been advocating breaking that barrier all along too.
I support faucets and mining etc.
It's how i got into crypto.. i never showed and spent my real money on this crap.
..like all of you Investards.

What kind of idiot buys crypto shitcoins with real money ?  

And if you do ?
There is a trail and a link etc to be guarded and regulated.

PS:

https://www.ag.gov.au/CrimeAndCorruption/AntiLaunderingCounterTerrorismFinancing/Pages/default.aspx


in comparison..

http://www.finra.org/industry/aml


You were sayin' ?

May be you'd better go to australia becasue bitcoin is legal there. That's new land of cryptos if US will make crypto illegal.
http://investmentwatchblog.com/on-july-1-australia-will-make-bitcoin-legal-money/
sooner or later all country should accept cryptocurrency. Why they make law to ban crypto, Because banking industry will colapse. And the govermnet not smart enough, They should embrace cryptocommunity if the government will survive.

Yes i heard this too as well as other things such as massive organizations etc.
They have huge systems in place to monitor people and they don't deny it either.
In order to watch people they have to find them LOL
I seen a show on TV about this and they make no effort to deny it.
Any US citizen can be put on the watch lists simply because of a political view.
It doesn't take much.

And money laundering is tracked already which is what the big problem is and would be with Altcoins.

This crap is no different than digital transfer of FIAT across borders etc.
And if "Mr.Joshua" the noob was here long enough he'd know that in 2013 Coindesk posted that FBI story because the guy moved 30k in BTC which violated ANTI-Money laundering laws.

And yeah i have an attitude because NOOBS show up saying "They can't stop us"
As the guy JUST SAID on this very topic..
Just like i heard all the time constantly when i warned you all this regulations shit was coming..
and you all lined up to laugh at me and mouth me off etc.

They did so i am 100% entitled to be a dick and yell I TOLD YOU SO !

I warned you all loud & clear about all this back in 2013 and onward and i was dismissed by the vast majority.

@Mr.Joshua
You are wrong.. know how i know ?
I'm here.

There is not a rule having an attitude here.
Being shocked by blatant stupidity posting tangibly proven false info.
Which is what happened on this topic.

You all line up to say "they can't" with you noob accounts.
And then i post they already did and here is proof all of it from years before you got here.
That makes you STUPID.
Know what stupid means ?

And you can blame yourselves.
I did not get the rules implemented.. YOU ALL DID with your dumb ass shitcoin faggotry.
I told you your dumb ass behavior would bring it on to yourselves and surprise surprise here it comes.

@Mr.Joshua
You implied i showed up just top call you all stupid.
Maybe but who brought up the points i mentioned ?
No one.
My comments were higher quality than all of yours combined.
Because i know more about this stuff than you NOOBS.

Seen my link to the SEC fraud warning issued bu the US govt ?
I am the only one who posted that too.
Not you guys.. you smart ass's didn't know it existed.
You have your heads shoved up your ass's naive & oblivious.

I have probably thousands of crypto bookmarks.. need more links ?
How about one more ?

http://www.coindesk.com/coinbase-users-court-bitcoin-irs/

Which one of you already posted that again ?
Oh that's right ..none of you.

After read most of the replied, what make you all not understand about it? The bill mean nothing to user of digital currency like Bitcoin, if you use it the legal way. It's beyond believe that so many people can't comprehend a simple bill like this. No! It do not make all or any crypto illegal if this bill is pass.

With the rise of all of these crypto credit cards (ala tokencard, monaco, etc.), will this give us an avenue to buy things without having to worry about big brother?

The US Embassy ask for social media accounts, and study them.

This point makes no sense at all. Are they goint to check if all travelers have a pendrive with a btc wallet? Are they going to check their smartphones to see if there is a btc wallet with funds? Are they going to calculate the amount stored in USD? What reference will they use? Coinbase? Stamp?
But the thing is they don´t even need to take their wallet with them if they remember their seed. Will the border agents ask them if they own bitcoins and if they remember their seed?

Re-read the topic title.
And maybe stick to the cawing crow routine i heard since 2013.. they can't stop us.
..like the guy who posted that tired old fail cliche earlier here.  

News Flash.. they can and they DO !
Meanwhile some guys using Localbitcoins in Florida were arrested by the FBI in a parking lot.

If they try and stop Crypto then yeah it's going to have a massive impact.
Just because some users get away with it occasionally makes no difference.

For example..
How many of you cocky stupid mouthy retards used PAYPAL with crypto ?
Had your account seized yet ?

I don't need political rabble from noobs.
It doesn't matter which party is pulling strings.. they are all same shit different pile.
You all want to spout off like you know things with your noob accounts.
But line up and raise your hand if you paid your taxes on any crypto profits.

yeah i thought so.. so STFU idiots.

Get smart and do your homework morons..

http://www.coindesk.com/localbitcoins-users-criminal-charges-florida/

http://www.coindesk.com/irs-bitcoin-tax-guidelines-mean/
http://www.coindesk.com/canada-revenue-agency-tax-rules-apply-bitcoin/

Go to jail quicker kidiot profiteers  

PS:
How to enforce in a decentralized system the noob asks ?
News Flash: this shit ain't decentralized ahhahahha
Wake the fuck up little kiddys.

It's easy when they have access to your laptop! They put that in the law (the shadow part you American citizen are not entitled to see since you are not "cleared" for clearance).

the AI can see what you have an how much and report to the central database then prosecutor can put you in jail for a few "laws" like tax evasion, money laundering, crossing border not declaring "unregulated crypto money" etc... 10 years in jail you settle for 2 ond have a criminal record now.

How's that answer?

Yes but how to enforce in a decentralized system?