Topic: Ruh Roh, bitcoin on the radar of the IMF? - page 3. (Read 12525 times)

I recommend one of this for your backpack

https://dl.dropboxusercontent.com/u/7609612/pictures/2013-06-06_002112.jpg

http://www.voltaicsystems.com/

and then with a laptop you can be a moving bitcoin ATM ... (you can get part of the blockchain on a usb to speed things up and sell that data to others or leave them suffering the modem speed for ages)

I'm wondering what they are actually] going to do?

So far its just scaremongering (and taking down other vulnerable systems like LR).

I would like to seem them actually try something (and fail).

Getting a little bit boring...  

Haven't we been at war for the last 12 years?

Another issue. What would happen on a war economy. We have been living a long period without wars but that won't continue for long (i hope that is not true). On a war economy and under war laws states could exert extreme violence to anyone using bitcoin or entire regions of countries could just shutdown the internet like north korea or lybia during revolts. What would happen? many forks?

Yes, then i recommend to new users they start to download the blockchain now.

You'll have to purchase one of these...

Other possibility. What happens with bitcoin when there is no internet, when 3G lines are switched off and there are not even mobile lines for failing infrastructures or in zones with inhibitors? What would happen with Bitcoin?

Just some thoughts

There is a difficulty target which recalculates about every two weeks to see whether the difficulty should rise or be lowered. A single retarget never changes by more than a factor of 4 to prevent large changes in difficulty.

This solution is not, however, without its drawbacks. Collecting Bitcoins via a quasi-membership scheme creates a collective action problem. Because Bitcoin operates through a decentralized network of users, aggregating the necessary amount of Bitcoins would be difficult. There is no centralized institution for the IMF to go to, and no easy way for the IMF to contact Bitcoin users directly. The IMF would have to enter online Bitcoin exchanges like any other prospective Bitcoin user. Even if the IMF were able to transact with Bitcoin users directly, the recognition-in-exchange-for-trading scheme creates a tragedy of the commons: all Bitcoin users benefit from the increased legitimacy of IMF recognition, but no one individual user has an incentive to transact with the IMF. In fact, Bitcoin users might very well have incentive not to transact with the IMF right away. Recall that Bitcoin’s mining software is programmed to cap the generation of Bitcoins by approximately 2025.168 Once the availability of Bitcoins becomes finite, we can expect the value of Bitcoins to increase. Thus, Bitcoin users have a short-term incentive to hold on to their Bitcoins rather than trade them. Since the proposed system relies on the completely voluntary participation of Bitcoin users, the incentive to hold on to Bitcoins creates a serious problem.

My thought exactly. There is an easy way for them to deal with bitcoin, all they have to do is buy them all and erase the wallets.

But alt currencies are like potato chips, we'll make more.

... One year guys, just one more year and we are immortal! 

In order to mitigate the potential impact of Bitcoin, the meaning of Article IV, Section 5 could be expanded to include digital currencies. Rather than limiting its scope to currencies used by colonies or overseas territories, the IMF could use Article IV Section 5 to label Bitcoin—or other digital currencies like it—a “separate currency.”159 As such, the IMF could require member nations to pay part of their subscription quota with Bitcoins.160 This would require member nations to purchase Bitcoins independently. They would then contribute that amount to the IMF’s general fund as part of their quota, receiving an amount of their own currency or special drawing rights equal to the value of the Bitcoins paid in exchange.161 In short, expanding the meaning of Article IV, Section 5 would grant the IMF a means of indirectly accumulating Bitcoins through its members.

From the mouth of (at the time) FED chairman Alan Greenspan:
http://www.youtube.com/watch?v=q6vi528gseA

I will contact them again. I spoke to them in 2011 and was invited to come back. Let's charm them, not hate on them. If they can be brainwashed once, then I can do it to them also.  

http://www.chicagobooth.edu/alumni/events/showEvent?eventId=2868
Look at this.