Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33331.

TheKoziTwo

legendary

Activity: 1552

Merit: 1047

Quote from: lucas.sev on June 13, 2013, 06:57:24 AM

Quote from: Rampion on June 13, 2013, 06:53:10 AM

Quote from: lucas.sev on June 13, 2013, 06:45:38 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.

Of course bitcoin is the currency of criminals, that's why it was created in the first place, to have a safe haven for criminals. But you need to realize that being a criminal is not a bad thing, it's a good thing.

needmorecoins

member

Activity: 65

Merit: 10

lol imagine drug lords standing around waiting 40 minutes for 6 confirmations before finishing their exchanges.

ShroomsKit

hero member

Activity: 672

Merit: 500

Quote from: lucas.sev on June 13, 2013, 06:57:24 AM

Quote from: Rampion on June 13, 2013, 06:53:10 AM

Quote from: lucas.sev on June 13, 2013, 06:45:38 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

ShroomsKit

hero member

Activity: 672

Merit: 500

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.

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

lucas.sev

sr. member

Activity: 252

Merit: 250

Quote from: Rampion on June 13, 2013, 06:53:10 AM

Quote from: lucas.sev on June 13, 2013, 06:45:38 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.

ShroomsKit

hero member

Activity: 672

Merit: 500

Quote from: lucas.sev on June 13, 2013, 06:45:38 AM

Quote from: Rampion on June 13, 2013, 06:38:57 AM

Quote from: lucas.sev on June 13, 2013, 06:34:22 AM

Quote from: Rampion on June 13, 2013, 06:31:41 AM

Oh boy, I'm really waiting for some agency/government to try to "ban" Bitcoin. But I guess they are not *that* stupid. Wink

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.

TheKoziTwo

legendary

Activity: 1552

Merit: 1047

Quote from: gizmoh on June 13, 2013, 06:41:01 AM

Quote from: TheKoziTwo on 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:

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.html
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.

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.

Ultimately, we're going to be prepared to go this route anyways. I don't see how this anonymous taxhaven / money laundering paradise can continue to operate uninterrupted like it is today. We will need p2p exchanges to take over where there is no big, centralized point of failure. The end goal would be mass adoption to the scale where in and out exchange is no longer necessary because everyone accepts bitcoin. Anyhow, I think there will continue to be exchanges in obscure countries, for a long time to come.

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: lucas.sev on June 13, 2013, 06:45:38 AM

Quote from: Rampion on June 13, 2013, 06:38:57 AM

Quote from: lucas.sev on June 13, 2013, 06:34:22 AM

Quote from: Rampion on June 13, 2013, 06:31:41 AM

Oh boy, I'm really waiting for some agency/government to try to "ban" Bitcoin. But I guess they are not *that* stupid. Wink

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.

lucas.sev

sr. member

Activity: 252

Merit: 250

Quote from: Rampion on June 13, 2013, 06:38:57 AM

Quote from: lucas.sev on June 13, 2013, 06:34:22 AM

Quote from: Rampion on June 13, 2013, 06:31:41 AM

Oh boy, I'm really waiting for some agency/government to try to "ban" Bitcoin. But I guess they are not *that* stupid. Wink

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.

gizmoh

legendary

Activity: 1428

Merit: 1000

Quote from: TheKoziTwo on 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:

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.html
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.

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.

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: lucas.sev on June 13, 2013, 06:34:22 AM

Quote from: Rampion on June 13, 2013, 06:31:41 AM

Oh boy, I'm really waiting for some agency/government to try to "ban" Bitcoin. But I guess they are not *that* stupid. Wink

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.

lucas.sev

sr. member

Activity: 252

Merit: 250

Quote from: Rampion on June 13, 2013, 06:31:41 AM

Oh boy, I'm really waiting for some agency/government to try to "ban" Bitcoin. But I guess they are not *that* stupid. Wink

You realise that it will negatively affect price, at least in short term?

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: TheKoziTwo on 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:

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.html
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.

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. Wink

TheKoziTwo

legendary

Activity: 1552

Merit: 1047

Seems like there has been a raid, and $7.5 million frozen from webmoney (or more precisely, their "guarantor" in Ukraine) today:

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.html
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.

KS

sr. member

Activity: 448

Merit: 250

down, down, DOWN for now Sad

10c

full member

Activity: 658

Merit: 100

BuyAnyLight - Blockchain LED Marketplace

Quote from: EuroTrash on June 13, 2013, 02:46:08 AM

Nope. Mr. Manip only strikes twice in a row. The third time would be otherwise too easily predictable Tongue

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. Grin

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

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ