lol imagine drug lords standing around waiting 40 minutes for 6 confirmations before finishing their exchanges.
I think services built on top of bitcoin will account for most purchases eventually. Those services will provide more anonymity and will be instant. I would imagine drug lords using these services as well, and use bitcoin for long term storage. 
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33152. (Read 26496631 times)
June 13, 2013, 07:10:53 AM
June 13, 2013, 07:09:00 AM
lol imagine drug lords standing around waiting 40 minutes for 6 confirmations before finishing their exchanges.
40 mins is nothing when compared to effort of paying with cash
And the can chat and get to know each other. May be they'll be more friendly then in the future
June 13, 2013, 07:06:58 AM
lol imagine drug lords standing around waiting 40 minutes for 6 confirmations before finishing their exchanges.
40 mins is nothing when compared to effort of paying with cash
But we all know how much was bitcoin when it was used only for illegal purposes and not for speculation like today. I would like to hear your opinion on what will happen with bitcoin if it will be illegal to run a bitcoin exchange? Of course TOR-based exchanges could appear, but big money would be gone.
First and foremost, a global ban is unlikely. The most likely scenario is that there would be countries where it would still be legal to run exchanges. And "big money" knows how "offshore banking" works - especially is this "big money" comes from dubious sources. I bet you know that there is a lot of "big money" (or better, HUGE money) in counterfeit pharmaceutical drugs, prostitution, illegal weapons traffic, drugs, etc.
Secondly, Dread Pirate Roberts (SR operator) is a visionary. But new generations of "criminals" will join the pack as soon as they understand BTC. If BTC is banned, they would be even more attracted by it. "Criminal activity" (or black market) is a 1,829 billion per year market. If only a small % of that economic activity goes to BTC the price will skyrocket, and as I said earlier: everything illegal comes with a premium.
Bitcoin has the potential to be HUGE regardless of the official position of Governements.
I always thought that bright future of Bitcoin that we look forward to is not being a currency used by criminal big money, and when somebody mentions big money they mean investors, not human trafficing and weapons.
But yeah, I'm fine with that as long as price goes up.
Now that's something! It's a good thing for the criminal as long as they are not caught, and a bad thing to their victims.
June 13, 2013, 07:06:18 AM
But we all know how much was bitcoin when it was used only for illegal purposes and not for speculation like today. I would like to hear your opinion on what will happen with bitcoin if it will be illegal to run a bitcoin exchange? Of course TOR-based exchanges could appear, but big money would be gone.
First and foremost, a global ban is unlikely. The most likely scenario is that there would be countries where it would still be legal to run exchanges. And "big money" knows how "offshore banking" works - especially is this "big money" comes from dubious sources. I bet you know that there is a lot of "big money" (or better, HUGE money) in counterfeit pharmaceutical drugs, prostitution, illegal weapons traffic, drugs, etc.
Secondly, Dread Pirate Roberts (SR operator) is a visionary. But new generations of "criminals" will join the pack as soon as they understand BTC. If BTC is banned, they would be even more attracted by it. "Criminal activity" (or black market) is a 1,829 billion per year market. If only a small % of that economic activity goes to BTC the price will skyrocket, and as I said earlier: everything illegal comes with a premium.
Bitcoin has the potential to be HUGE regardless of the official position of Governements.
I always thought that bright future of Bitcoin that we look forward to is not being a currency used by criminal big money, and when somebody mentions big money they mean investors, not human trafficing and weapons.
But yeah, I'm fine with that as long as price goes up.
June 13, 2013, 07:04:59 AM
lol imagine drug lords standing around waiting 40 minutes for 6 confirmations before finishing their exchanges.
June 13, 2013, 07:04:13 AM
But we all know how much was bitcoin when it was used only for illegal purposes and not for speculation like today. I would like to hear your opinion on what will happen with bitcoin if it will be illegal to run a bitcoin exchange? Of course TOR-based exchanges could appear, but big money would be gone.
First and foremost, a global ban is unlikely. The most likely scenario is that there would be countries where it would still be legal to run exchanges. And "big money" knows how "offshore banking" works - especially is this "big money" comes from dubious sources. I bet you know that there is a lot of "big money" (or better, HUGE money) in counterfeit pharmaceutical drugs, prostitution, illegal weapons traffic, drugs, etc.
Secondly, Dread Pirate Roberts (SR operator) is a visionary. But new generations of "criminals" will join the pack as soon as they understand BTC. If BTC is banned, they would be even more attracted by it. "Criminal activity" (or black market) is a 1,829 billion per year market. If only a small % of that economic activity goes to BTC the price will skyrocket, and as I said earlier: everything illegal comes with a premium.
Bitcoin has the potential to be HUGE regardless of the official position of Governements.
I always thought that bright future of Bitcoin that we look forward to is not being a currency used by criminal big money, and when somebody mentions big money they mean investors, not human trafficing and weapons.
But yeah, I'm fine with that as long as price goes up.
He has an other, kinda ridiculous future in mind. No idea why. But he is free to do so
June 13, 2013, 07:02:34 AM
He is looking forward to the government to fight it.
I'm looking forward to the government to accept it and regulate it.
I like my coins to be worth something in the future and be usable.
I'm looking forward to the government to accept it and regulate it.
I like my coins to be worth something in the future and be usable.
June 13, 2013, 07:00:45 AM
June 13, 2013, 06:57:24 AM
But we all know how much was bitcoin when it was used only for illegal purposes and not for speculation like today. I would like to hear your opinion on what will happen with bitcoin if it will be illegal to run a bitcoin exchange? Of course TOR-based exchanges could appear, but big money would be gone.
First and foremost, a global ban is unlikely. The most likely scenario is that there would be countries where it would still be legal to run exchanges. And "big money" knows how "offshore banking" works - especially is this "big money" comes from dubious sources. I bet you know that there is a lot of "big money" (or better, HUGE money) in counterfeit pharmaceutical drugs, prostitution, illegal weapons traffic, drugs, etc.
Secondly, Dread Pirate Roberts (SR operator) is a visionary. But new generations of "criminals" will join the pack as soon as they understand BTC. If BTC is banned, they would be even more attracted by it. "Criminal activity" (or black market) is a 1,829 billion per year market. If only a small % of that economic activity goes to BTC the price will skyrocket, and as I said earlier: everything illegal comes with a premium.
Bitcoin has the potential to be HUGE regardless of the official position of Governements.
I always thought that bright future of Bitcoin that we look forward to is not being a currency used by criminal big money, and when somebody mentions big money they mean investors, not human trafficing and weapons.
But yeah, I'm fine with that as long as price goes up.
June 13, 2013, 06:57:13 AM
Oh boy, I'm really waiting for some agency/government to try to "ban" Bitcoin. But I guess they are not *that* stupid.
You realise that it will negatively affect price, at least in short term?
Probably short term. But not mid-term, or long-term. Everything illegal comes with a premium.
Then, Bitcoin was designed to resist bans. Both the protocol and its creator analyzed a "government ban" situation and prepared for it (why do you think Satoshi is a pseudonym, he always used Tor, and never left traces of who he really was?).
This experiment needs to be fully tested. I don't know if ay government is going to be so stupid to ban Bitcoin, but if they do they will make it stronger, because was designed with that it mind.
Short term price is irrelevant in the grand scheme of things. Some of us are not here for the quick buck.
But we all know how much was bitcoin when it was used only for illegal purposes and not for speculation like today. I would like to hear your opinion on what will happen with bitcoin if it will be illegal to run a bitcoin exchange? Of course TOR-based exchanges could appear, but big money would be gone.
He and some other people here think it is impossible to stop Bitcoin and nothing can hurt it.
As soon as the banks aren't allowed to deal with Bitcoin anymore then it's game over. There will be nothing else left besides in person trading which 90% of the people won't do.
The funny thing is he will probably still act as if it's a good thing and buy 1000's of coins worth 10 cent each while telling everyone here that nothing can take Bitcoin down.
June 13, 2013, 06:55:35 AM
Seems like there has been a raid, and $7.5 million frozen from webmoney (or more precisely, their "guarantor" in Ukraine) today:
http://www.ukrinform.ua/eng/news/webmoney_funds_blocked_by_revenue_authorities_305119
http://un.ua/eng/article/454477.html
Wonder if there will be any escalation here or if this is a minor issue?
Either way, all these asset seizures are nothing but bullish news for bitcoin.
Quote
"The authorities have seized a large amount of computer equipment which was used for the system's operation. "Over 60 million Hryvnas ($7.5 million) held in the bank accounts of companies which were part of in the illegal system have been frozen," the ministry said."
http://rapsinews.com/news/20130613/267751619.htmlhttp://www.ukrinform.ua/eng/news/webmoney_funds_blocked_by_revenue_authorities_305119
http://un.ua/eng/article/454477.html
Wonder if there will be any escalation here or if this is a minor issue?
Either way, all these asset seizures are nothing but bullish news for bitcoin.
Bullish! yea another Direct funding source for bitcoin likely to be cut off.
No need to ban bitcoin,only bank wire remains. What happens if the banks decide Bitcoin is against AML laws and stops business with exchanges, we'l see how can price be sustained then.
June 13, 2013, 06:53:10 AM
Oh boy, I'm really waiting for some agency/government to try to "ban" Bitcoin. But I guess they are not *that* stupid.
You realise that it will negatively affect price, at least in short term?
Probably short term. But not mid-term, or long-term. Everything illegal comes with a premium.
Then, Bitcoin was designed to resist bans. Both the protocol and its creator analyzed a "government ban" situation and prepared for it (why do you think Satoshi is a pseudonym, he always used Tor, and never left traces of who he really was?).
This experiment needs to be fully tested. I don't know if ay government is going to be so stupid to ban Bitcoin, but if they do they will make it stronger, because was designed with that it mind.
Short term price is irrelevant in the grand scheme of things. Some of us are not here for the quick buck.
But we all know how much was bitcoin when it was used only for illegal purposes and not for speculation like today. I would like to hear your opinion on what will happen with bitcoin if it will be illegal to run a bitcoin exchange? Of course TOR-based exchanges could appear, but big money would be gone.
First and foremost, a global ban is unlikely. The most likely scenario is that there would be countries where it would still be legal to run exchanges. And "big money" knows how "offshore banking" works - especially is this "big money" comes from dubious sources. I bet you know that there is a lot of "big money" (or better, HUGE money) in counterfeit pharmaceutical drugs, prostitution, illegal weapons traffic, drugs, etc.
Secondly, Dread Pirate Roberts (SR operator) is a visionary. But new generations of "criminals" will join the pack as soon as they understand BTC. If BTC is banned, they would be even more attracted by it. "Criminal activity" (or black market) is a 1,829 billion per year market. If only a small % of that economic activity goes to BTC the price will skyrocket, and as I said earlier: everything illegal comes with a premium.
Bitcoin has the potential to be HUGE regardless of the official position of Governements.
June 13, 2013, 06:45:38 AM
Oh boy, I'm really waiting for some agency/government to try to "ban" Bitcoin. But I guess they are not *that* stupid.
You realise that it will negatively affect price, at least in short term?
Probably short term. But not mid-term, or long-term. Everything illegal comes with a premium.
Then, Bitcoin was designed to resist bans. Both the protocol and its creator analyzed a "government ban" situation and prepared for it (why do you think Satoshi is a pseudonym, he always used Tor, and never left traces of who he really was?).
This experiment needs to be fully tested. I don't know if ay government is going to be so stupid to ban Bitcoin, but if they do they will make it stronger, because was designed with that it mind.
Short term price is irrelevant in the grand scheme of things. Some of us are not here for the quick buck.
But we all know how much was bitcoin when it was used only for illegal purposes and not for speculation like today. I would like to hear your opinion on what will happen with bitcoin if it will be illegal to run a bitcoin exchange? Of course TOR-based exchanges could appear, but big money would be gone.
June 13, 2013, 06:41:01 AM
Seems like there has been a raid, and $7.5 million frozen from webmoney (or more precisely, their "guarantor" in Ukraine) today:
http://www.ukrinform.ua/eng/news/webmoney_funds_blocked_by_revenue_authorities_305119
http://un.ua/eng/article/454477.html
Wonder if there will be any escalation here or if this is a minor issue?
Either way, all these asset seizures are nothing but bullish news for bitcoin.
Quote
"The authorities have seized a large amount of computer equipment which was used for the system's operation. "Over 60 million Hryvnas ($7.5 million) held in the bank accounts of companies which were part of in the illegal system have been frozen," the ministry said."
http://rapsinews.com/news/20130613/267751619.htmlhttp://www.ukrinform.ua/eng/news/webmoney_funds_blocked_by_revenue_authorities_305119
http://un.ua/eng/article/454477.html
Wonder if there will be any escalation here or if this is a minor issue?
Either way, all these asset seizures are nothing but bullish news for bitcoin.
Bullish! yea another Direct funding source for bitcoin likely to be cut off.
No need to ban bitcoin,only bank wire remains. What happens if the banks decide Bitcoin is against AML laws and stops business with exchanges, we'l see how can price be sustained then.
June 13, 2013, 06:38:57 AM
Oh boy, I'm really waiting for some agency/government to try to "ban" Bitcoin. But I guess they are not *that* stupid.
You realise that it will negatively affect price, at least in short term?
Probably short term. But not mid-term, or long-term. Everything illegal comes with a premium.
Then, Bitcoin was designed to resist bans. Both the protocol and its creator analyzed a "government ban" situation and prepared for it (why do you think Satoshi is a pseudonym, he always used Tor, and never left traces of who he really was?).
This experiment needs to be fully tested. I don't know if ay government is going to be so stupid to ban Bitcoin, but if they do they will make it stronger, because was designed with that it mind.
Short term price is irrelevant in the grand scheme of things. Some of us are not here for the quick buck.
June 13, 2013, 06:34:22 AM
Oh boy, I'm really waiting for some agency/government to try to "ban" Bitcoin. But I guess they are not *that* stupid.
You realise that it will negatively affect price, at least in short term?
June 13, 2013, 06:31:41 AM
Seems like there has been a raid, and $7.5 million frozen from webmoney (or more precisely, their "guarantor" in Ukraine) today:
http://www.ukrinform.ua/eng/news/webmoney_funds_blocked_by_revenue_authorities_305119
http://un.ua/eng/article/454477.html
Wonder if there will be any escalation here or if this is a minor issue?
Either way, all these asset seizures are nothing but bullish news for bitcoin.
Quote
"The authorities have seized a large amount of computer equipment which was used for the system's operation. "Over 60 million Hryvnas ($7.5 million) held in the bank accounts of companies which were part of in the illegal system have been frozen," the ministry said."
http://rapsinews.com/news/20130613/267751619.htmlhttp://www.ukrinform.ua/eng/news/webmoney_funds_blocked_by_revenue_authorities_305119
http://un.ua/eng/article/454477.html
Wonder if there will be any escalation here or if this is a minor issue?
Either way, all these asset seizures are nothing but bullish news for bitcoin.
Indeed. Hopefully people will realize that centralized currencies are sh*t. The only answer is Bitcoin.
Oh boy, I'm really waiting for some agency/government to try to "ban" Bitcoin. But I guess they are not *that* stupid.
June 13, 2013, 06:21:26 AM
Seems like there has been a raid, and $7.5 million frozen from webmoney (or more precisely, their "guarantor" in Ukraine) today:
http://www.ukrinform.ua/eng/news/webmoney_funds_blocked_by_revenue_authorities_305119
http://un.ua/eng/article/454477.html
Wonder if there will be any escalation here or if this is a minor issue?
Either way, all these asset seizures are nothing but bullish news for bitcoin.
Quote
"The authorities have seized a large amount of computer equipment which was used for the system's operation. "Over 60 million Hryvnas ($7.5 million) held in the bank accounts of companies which were part of in the illegal system have been frozen," the ministry said."
http://rapsinews.com/news/20130613/267751619.htmlhttp://www.ukrinform.ua/eng/news/webmoney_funds_blocked_by_revenue_authorities_305119
http://un.ua/eng/article/454477.html
Wonder if there will be any escalation here or if this is a minor issue?
Either way, all these asset seizures are nothing but bullish news for bitcoin.
June 13, 2013, 06:08:44 AM
down, down, DOWN for now 
June 13, 2013, 06:03:36 AM
Nope. Mr. Manip only strikes twice in a row. The third time would be otherwise too easily predictable
I expect next wash-rinse-repeat cycle from him in no less than 6 weeks - like when the memories of his distinctive pattern will have faded enough.
I tend to agree with you on this, except for the timeframe. I don't think it '6 weeks' but more based on support levels. 115-120 with support will trigger him again.
This week will probably be slow; people waiting to see if it's 'dumping sunday' again
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