Ups and Downs and its simple principles

bitconformist

member

Activity: 70

Merit: 10

Quote from: cypherdoc on September 06, 2011, 04:45:57 PM

Quote from: bitconformist on September 06, 2011, 04:44:52 PM

Quote from: esse83 on September 06, 2011, 04:38:57 PM

Quote from: JeffK on September 06, 2011, 04:11:54 PM

Quote from: esse83 on September 06, 2011, 03:42:42 PM

Nice one fucker.

Well this is off to a good start

Quote from: esse83 on September 06, 2011, 03:42:42 PM

What about online gambling due to the fact that states around the world are banning it?

Bitcoin doesn't solve the problem of online gambling bans if you are going Cash->BTC->Casino->BTC->Cash, it gives the Feds an opening to nail you on laundering charges.

How would they know it was used for gambling?

Because bitcoin is inherently traceable. If you know an entry point (exchange), you can trace a coin through the system to an exit point (casino). The exchange can then be subpoenaed to identify you.

not with Tor.

Only if one or both of the businesses involved use tor.

helloworld

sr. member

Activity: 266

Merit: 250

Quote from: bitcon on September 06, 2011, 08:02:29 PM

Quote from: cypherdoc on September 06, 2011, 04:45:17 PM

Quote from: JeffK on September 06, 2011, 04:11:54 PM

Bitcoin doesn't solve the problem of online gambling bans if you are going Cash->BTC->Casino->BTC->Cash, it gives the Feds an opening to nail you on laundering charges.

LOL. the same 'ol "laundering" fear tactic. lame.

yeah, i agree. good luck in court proving:

A. a certian bitcoin address actually ever belonged to me
and
B. that some launderer didnt send me the coins to buy something legit.

by your theory if i sent someone a stolen/laundered bitcoin right now then that person is guilty of a crime. that would probably make just about every bitcoin user a criminal eventually seeing how often bitcoins are stolen or laundered.

Do you get different coins if you deposit / withdraw from mtgox without trading?

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: bitcon on September 06, 2011, 08:02:29 PM

Quote from: cypherdoc on September 06, 2011, 04:45:17 PM

Quote from: JeffK on September 06, 2011, 04:11:54 PM

Bitcoin doesn't solve the problem of online gambling bans if you are going Cash->BTC->Casino->BTC->Cash, it gives the Feds an opening to nail you on laundering charges.

LOL. the same 'ol "laundering" fear tactic. lame.

yeah, i agree. good luck in court proving:

A. a certian bitcoin address actually ever belonged to me
and
B. that some launderer didnt send me the coins to buy something legit.

by your theory if i sent someone a stolen/laundered bitcoin right now then that person is guilty of a crime. that would probably make just about every bitcoin user a criminal eventually seeing how often bitcoins are stolen or laundered.

I went to Wells Fencego today and exchanged a sleeve for five doubles.

bitcon

legendary

Activity: 2212

Merit: 1008

Quote from: cypherdoc on September 06, 2011, 04:45:17 PM

Quote from: JeffK on September 06, 2011, 04:11:54 PM

Bitcoin doesn't solve the problem of online gambling bans if you are going Cash->BTC->Casino->BTC->Cash, it gives the Feds an opening to nail you on laundering charges.

LOL. the same 'ol "laundering" fear tactic. lame.

yeah, i agree. good luck in court proving:

A. a certian bitcoin address actually ever belonged to me
and
B. that some launderer didnt send me the coins to buy something legit.

by your theory if i sent someone a stolen/laundered bitcoin right now then that person is guilty of a crime. that would probably make just about every bitcoin user a criminal eventually seeing how often bitcoins are stolen or laundered.

Bitcoin_Silver_Supply

sr. member

Activity: 258

Merit: 250

Quote from: Furyan on September 06, 2011, 05:40:24 PM

Quote from: Bitcoin_Silver_Supply on September 06, 2011, 04:06:18 PM

Gambling and drugs are two prime sectors.

One area that has not been tapped sufficiently is precious metals. Some friends and I have considered jumping in on a BTC-silver company for a while (huge shock with my name, I know). However, the problem is that BTCs volatility makes any business model infinitely more complex and risk-prone.

Regardless, I think a lot of people would love to purchase metals anonymously without a paper trace for the turbulent economic situation.

This idea, I like.

I wish I could claim it to be my own but the only barrier is that noone has really jumped on it yet asides some small time circulated coin sellers. If the BTC price finds some stability I will take a serious look at it soon.

Furyan

full member

Activity: 175

Merit: 102

Quote from: Bitcoin_Silver_Supply on September 06, 2011, 04:06:18 PM

Gambling and drugs are two prime sectors.

One area that has not been tapped sufficiently is precious metals. Some friends and I have considered jumping in on a BTC-silver company for a while (huge shock with my name, I know). However, the problem is that BTCs volatility makes any business model infinitely more complex and risk-prone.

Regardless, I think a lot of people would love to purchase metals anonymously without a paper trace for the turbulent economic situation.

This idea, I like.

cypherdoc

legendary

Activity: 1764

Merit: 1002

Quote from: esse83 on September 06, 2011, 05:10:44 PM

Quote from: JeffK on September 06, 2011, 04:11:54 PM

Quote from: esse83 on September 06, 2011, 03:42:42 PM

Nice one fucker.

Well this is off to a good start

Quote from: esse83 on September 06, 2011, 03:42:42 PM

What about online gambling due to the fact that states around the world are banning it?

Bitcoin doesn't solve the problem of online gambling bans if you are going Cash->BTC->Casino->BTC->Cash, it gives the Feds an opening to nail you on laundering charges.

I am a bit confused about the concept of darkpools. But this is how I take it. People can trade without it being official (introduced to the blockchain). Now if darkpool trading is possible then how would tracing it be possible?

when you remove them from the exchange they get sent to an address of your choice. since your name is associated with your acct then so is that address.

esse83

hero member

Activity: 545

Merit: 500

Quote from: JeffK on September 06, 2011, 04:11:54 PM

Quote from: esse83 on September 06, 2011, 03:42:42 PM

Nice one fucker.

Well this is off to a good start

Quote from: esse83 on September 06, 2011, 03:42:42 PM

What about online gambling due to the fact that states around the world are banning it?

Bitcoin doesn't solve the problem of online gambling bans if you are going Cash->BTC->Casino->BTC->Cash, it gives the Feds an opening to nail you on laundering charges.

I am a bit confused about the concept of darkpools. But this is how I take it. People can trade without it being official (introduced to the blockchain). Now if darkpool trading is possible then how would tracing it be possible?

niko

hero member

Activity: 756

Merit: 501

There is more to Bitcoin than bitcoins.

I think this (and related ideas) has some merit https://bitcointalksearch.org/topic/bitcoins-or-the-ultimate-proof-of-ownership-37171

cypherdoc

legendary

Activity: 1764

Merit: 1002

Quote from: bitconformist on September 06, 2011, 04:44:52 PM

Quote from: esse83 on September 06, 2011, 04:38:57 PM

Quote from: JeffK on September 06, 2011, 04:11:54 PM

Quote from: esse83 on September 06, 2011, 03:42:42 PM

Nice one fucker.

Well this is off to a good start

Quote from: esse83 on September 06, 2011, 03:42:42 PM

What about online gambling due to the fact that states around the world are banning it?

Bitcoin doesn't solve the problem of online gambling bans if you are going Cash->BTC->Casino->BTC->Cash, it gives the Feds an opening to nail you on laundering charges.

How would they know it was used for gambling?

Because bitcoin is inherently traceable. If you know an entry point (exchange), you can trace a coin through the system to an exit point (casino). The exchange can then be subpoenaed to identify you.

not with Tor.

cypherdoc

legendary

Activity: 1764

Merit: 1002

Quote from: JeffK on September 06, 2011, 04:11:54 PM

Bitcoin doesn't solve the problem of online gambling bans if you are going Cash->BTC->Casino->BTC->Cash, it gives the Feds an opening to nail you on laundering charges.

LOL. the same 'ol "laundering" fear tactic. lame.

bitconformist

member

Activity: 70

Merit: 10

Quote from: esse83 on September 06, 2011, 04:38:57 PM

Quote from: JeffK on September 06, 2011, 04:11:54 PM

Quote from: esse83 on September 06, 2011, 03:42:42 PM

Nice one fucker.

Well this is off to a good start

Quote from: esse83 on September 06, 2011, 03:42:42 PM

What about online gambling due to the fact that states around the world are banning it?

Bitcoin doesn't solve the problem of online gambling bans if you are going Cash->BTC->Casino->BTC->Cash, it gives the Feds an opening to nail you on laundering charges.

How would they know it was used for gambling?

Because bitcoin is inherently traceable. If you know an entry point (exchange), you can trace a coin through the system to an exit point (casino). The exchange can then be subpoenaed to identify you.

esse83

hero member

Activity: 545

Merit: 500

Quote from: JeffK on September 06, 2011, 04:11:54 PM

Quote from: esse83 on September 06, 2011, 03:42:42 PM

Nice one fucker.

Well this is off to a good start

Quote from: esse83 on September 06, 2011, 03:42:42 PM

What about online gambling due to the fact that states around the world are banning it?

Bitcoin doesn't solve the problem of online gambling bans if you are going Cash->BTC->Casino->BTC->Cash, it gives the Feds an opening to nail you on laundering charges.

How would they know it was used for gambling?

esse83

hero member

Activity: 545

Merit: 500

Quote from: bitconformist on September 06, 2011, 04:19:20 PM

Niche markets with a use for bitcoin: drugs, gambling, child pornography, ATI stock ownership. Only the most boring of these will not see you thrown in a prison if caught.

Immoral behaviour will always be a fact once you introduce anonymity (the same with cash).

esse83

hero member

Activity: 545

Merit: 500

Quote from: cypherdoc on September 06, 2011, 04:13:27 PM

there's just so many things:

1. allows micropayments to budding musicians, artists, bloggers, journalists, and developers.
2. allows movement of large amounts of money across borders seamlessly.
3. instantaneous payments across the globe.
4. could be used as a reserve currency for instant balance of payments btwn nations.
5. could be used as a Bitcoin Standard upon which fractional reserve banking could continue in USD's.
6. smartphone money for P2P payments for everything.
7. smartphone money in developing nations as in M Pesa in Kenya.

That is all possible. The problem is that we cannot start at that level. First momentum and excitement must be created and only then (much later) can those possibilities be contemplated as realistic.

bitconformist

member

Activity: 70

Merit: 10

Niche markets with a use for bitcoin: drugs, gambling, child pornography, ATI stock ownership. Only the most boring of these will not see you thrown in a prison if caught.

cypherdoc

legendary

Activity: 1764

Merit: 1002

there's just so many things:

1. allows micropayments to budding musicians, artists, bloggers, journalists, and developers.
2. allows movement of large amounts of money across borders seamlessly.
3. instantaneous payments across the globe.
4. could be used as a reserve currency for instant balance of payments btwn nations.
5. could be used as a Bitcoin Standard upon which fractional reserve banking could continue in USD's.
6. smartphone money for P2P payments for everything.
7. smartphone money in developing nations as in M Pesa in Kenya.

JeffK

sr. member

Activity: 350

Merit: 250

I never hashed for this...

Quote from: esse83 on September 06, 2011, 03:42:42 PM

Nice one fucker.

Well this is off to a good start

Quote from: esse83 on September 06, 2011, 03:42:42 PM

What about online gambling due to the fact that states around the world are banning it?

Bitcoin doesn't solve the problem of online gambling bans if you are going Cash->BTC->Casino->BTC->Cash, it gives the Feds an opening to nail you on laundering charges.

Bitcoin_Silver_Supply

sr. member

Activity: 258

Merit: 250

Gambling and drugs are two prime sectors.

One area that has not been tapped sufficiently is precious metals. Some friends and I have considered jumping in on a BTC-silver company for a while (huge shock with my name, I know). However, the problem is that BTCs volatility makes any business model infinitely more complex and risk-prone.

Regardless, I think a lot of people would love to purchase metals anonymously without a paper trace for the turbulent economic situation.

esse83

hero member

Activity: 545

Merit: 500

Nice one fucker. What about online gambling due to the fact that states around the world are banning it?

Topic: Ups and Downs and its simple principles (Read 1882 times)