And this is why scrypt coins are way safer than SHA256 coins, since the govt goons could control dedicated Asic hashers, but never GPUs.
Please don't talk when you don't know shit about what you're saying
Agreed
Sorry if you have a truth allergy, I didn't realize.
Fact is, any US customer of BFL is a potential perpetrator and the goons could easily search their property, by just using the BFL customer list. Since Asics are not used for anything else than BTC mining, owning an Asic miner could be seen as probable cause. This threat would probably deter anyone in the US from owning Asics. If the rest of the world mines on Asic, this development would eventually put US miners out of business, if international Asic ownership is high. Even worse, the government could accumulate enough Asics for a 51% attack, if international Asic ownership is low.
With LTC or YAC, this scenario is impossible because it would be impossible to chase anyone owning a GPU or CPU. Not only are there too many GPUs and CPUs, but also these can be plausibly used for other purposes.
Generic hardware cryptos are much less vulnerable than dedicated hw cryptos.
Not sure why you react like this.
Actually, I have now obtained and read the original FinCEN document.
http://www.fincen.gov/statutes_regs/guidance/pdf/FIN-2013-G001.pdfA user is a person that obtains virtual
currency to purchase goods or services.7
And footnote 7 says
7 How a person engages in “obtaining” a virtual currency may be described using any number of other terms, such as
“earning,” “harvesting,” ”mining,” “creating,” “auto-generating,” “manufacturing,” or “purchasing,” depending on
the details of the specific virtual currency model involved. For purposes of this guidance, the label applied to a
particular process of obtaining a virtual currency is not material to the legal characterization under the BSA of the
process or of the person engaging in the process.
The document also says:
A user who obtains convertible virtual currency and uses it to purchase real or virtual
goods or services is not an MSB under FinCEN’s regulations.
Long story short, if you buy bitcoins, mine bitcoins, etc. you are not subject to MSB regulations. Only if you trade in bitcoins, speculate in bitcoins, or make a business of buying and selling bitcoins to other users do you need to worry.
Having an ASIC does not make you culpable, and is not "probable cause" for anything illegal. Being BFL customer might be probable cause for gullibility, though.
