Why the downfall of Silkroad will be the partnership of bitcoin and the US gov

illpoet

sr. member

Activity: 341

Merit: 250

Quote from: alpha492 on October 10, 2013, 04:17:12 PM

Quote from: b!z on October 07, 2013, 09:05:54 AM

Quote from: alpha492 on October 07, 2013, 08:57:14 AM

IMO

Gov. Regulation of BTC + No SR = Death of BTC

Really if the gov. starts fiddling around with BTC why not just go back to USD, wtf would be the difference at all?

Would you rather have the government ban BTC?

No I'd probably just move to a different cryptocurrency, that's the beauty of it cryptocurrency is a moving target, bitcoins just the most popular. The minute I hear the government is playing around trying to pass some kind of bitcoin related legislation I'm dumping everything into FTC LTC and WDC.

this is one of my big defenses of alt currency. it keeps crypto extremely fluid. If the gov goes after btc blockchain you can switch to ltc blockchain fairly painlessly, then if they go after ltc blockchain you can go back to bitcoin or on to namecoins or whatever. This is just a theory tho based on the current ease of exchange between btc and alt currency.
at the end of the day history has shown that governments as large and corrupt as the us government fail at more and more things until they ultimately collapse. The idea that they could provide positive benefits to a system intentionally designed to not need their help is a bit naive.

alpha492

full member

Activity: 195

Merit: 100

Quote from: b!z on October 07, 2013, 09:05:54 AM

Quote from: alpha492 on October 07, 2013, 08:57:14 AM

IMO

Gov. Regulation of BTC + No SR = Death of BTC

Really if the gov. starts fiddling around with BTC why not just go back to USD, wtf would be the difference at all?

Would you rather have the government ban BTC?

No I'd probably just move to a different cryptocurrency, that's the beauty of it cryptocurrency is a moving target, bitcoins just the most popular. The minute I hear the government is playing around trying to pass some kind of bitcoin related legislation I'm dumping everything into FTC LTC and WDC.

AC130AS

newbie

Activity: 56

Merit: 0

Quote from: CrazyRabbi on October 07, 2013, 10:07:22 AM

Quote from: helohe on October 07, 2013, 10:02:01 AM

Quote from: b!z on October 07, 2013, 09:05:54 AM

Quote from: alpha492 on October 07, 2013, 08:57:14 AM

IMO

Gov. Regulation of BTC + No SR = Death of BTC

Really if the gov. starts fiddling around with BTC why not just go back to USD, wtf would be the difference at all?

Would you rather have the government ban BTC?

the government

what should anyone care what the us government decides about bitcoin? the us is not the world police, neither has the us anything to say at all about the law in any other part of the world. I don't give a fuck what the us decides about bitcoin.

Agreed the US Government can suck an orange!

Let me rephrase that

Agreed the US Government can suck a toe!

TippingPoint

legendary

Activity: 905

Merit: 1000

They are not going to abandon all of these:

Quote from: TippingPoint on August 18, 2013, 08:22:06 PM

I am of the opinion that the Bitcoin process is incompatible with the

Bank Secrecy Act (1970)
Money Laundering Control Act (1986)
Anti-Drug Abuse Act of 1988
Annunzio-Wylie Anti-Money Laundering Act (1992)
Money Laundering Suppression Act (1994)
Money Laundering and Financial Crimes Strategy Act (1998)
Uniting and Strengthening America by Providing Appropriate Tools to Restrict, Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act),
[Title III of the USA PATRIOT Act is referred to as the International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001]

Intelligence Reform & Terrorism Prevention Act of 2004

as well as other related government initiatives (to protect us from evil), such as

The elimination of all currency denominations greater than $100
Mandatory reporting of wages data, and withholding
Searches and confiscation of "suspicious cash" by TSA (and other agencies)

We are witnessing the early sparring.

CrazyRabbi

hero member

Activity: 490

Merit: 500

UNDER NEW MANAGEMENT

Quote from: ErisDiscordia on October 07, 2013, 10:30:26 AM

Quote from: CrazyRabbi on October 07, 2013, 10:17:11 AM

This thread he made though... there's not enough palms that you can apply to your face for this one Cheesy

Ah yes I suppose a lot of well-meaning and intelligent people have faith in the idea that government can be made into a good and beneficial force. It's easy to come to conclusions such as the ones he presented from that sort of perspective.

Silly Rabbit... Believing in the Government is for kids... Cheesy

ErisDiscordia

legendary

Activity: 1133

Merit: 1163

Imposition of ORder = Escalation of Chaos

Quote from: CrazyRabbi on October 07, 2013, 10:17:11 AM

This thread he made though... there's not enough palms that you can apply to your face for this one Cheesy

Ah yes I suppose a lot of well-meaning and intelligent people have faith in the idea that government can be made into a good and beneficial force. It's easy to come to conclusions such as the ones he presented from that sort of perspective.

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: alpha492 on October 07, 2013, 08:57:14 AM

IMO

Gov. Regulation of BTC + No SR = Death of BTC

Really if the gov. starts fiddling around with BTC why not just go back to USD, wtf would be the difference at all?

they still cant print bicoin

msc

sr. member

Activity: 282

Merit: 250

Quote from: Thursday on October 02, 2013, 03:25:34 PM

One of the premises behind Bitcoin is to be out of the guberments reach.

Yes, but that's not going to happen. Did you think they wouldn't find out about people selling crack using a new anonymous currency?

Bitcoin is still as anonymous as it was, and it still has potential for cashless transactions and micropayments.

CrazyRabbi

hero member

Activity: 490

Merit: 500

UNDER NEW MANAGEMENT

Quote from: ErisDiscordia on October 07, 2013, 10:13:28 AM

Quote from: CrazyRabbi on October 07, 2013, 10:10:53 AM

I love who everyone says Obama passed this law , Obama passed that law , Obama did this , Obama did that...

WAKE THE FUCK UP PEOPLE OBAMA AIN'T DO SHIT!

it's just distractions, the "circus" part in "bread & circus".

Best parody-profile I've ever seen btw. Have a cookie.

LOL thanks man... I <3 crazy_rabbit one of the nicest guys here...

This thread he made though... there's not enough palms that you can apply to your face for this one Cheesy

MerchantMiner

newbie

Activity: 56

Merit: 0

Quote from: helohe on October 07, 2013, 10:02:01 AM

Quote from: b!z on October 07, 2013, 09:05:54 AM

Quote from: alpha492 on October 07, 2013, 08:57:14 AM

IMO

Gov. Regulation of BTC + No SR = Death of BTC

Really if the gov. starts fiddling around with BTC why not just go back to USD, wtf would be the difference at all?

Would you rather have the government ban BTC?

the government

what should anyone care what the us government decides about bitcoin? the us is not the world police, neither has the us anything to say at all about the law in any other part of the world. I don't give a fuck what the us decides about bitcoin.

The U.S.A are closed come back next week lol

ErisDiscordia

legendary

Activity: 1133

Merit: 1163

Imposition of ORder = Escalation of Chaos

Quote from: CrazyRabbi on October 07, 2013, 10:10:53 AM

I love who everyone says Obama passed this law , Obama passed that law , Obama did this , Obama did that...

WAKE THE FUCK UP PEOPLE OBAMA AIN'T DO SHIT!

it's just distractions, the "circus" part in "bread & circus".

Best parody-profile I've ever seen btw. Have a cookie.

CrazyRabbi

hero member

Activity: 490

Merit: 500

UNDER NEW MANAGEMENT

Quote from: ErisDiscordia on October 07, 2013, 10:08:18 AM

Quote from: b!z on October 07, 2013, 09:05:54 AM

Quote from: alpha492 on October 07, 2013, 08:57:14 AM

IMO

Gov. Regulation of BTC + No SR = Death of BTC

Really if the gov. starts fiddling around with BTC why not just go back to USD, wtf would be the difference at all?

Would you rather have the government ban BTC?

To answer this question for OP:

No. I would rather have people stop looking to the government for permission or approval to do this or that. Government is potentially unnecessary and irrelevant, it just takes enough people to realize this

I love who everyone says Obama passed this law , Obama passed that law , Obama did this , Obama did that...

WAKE THE FUCK UP PEOPLE OBAMA AIN'T DO SHIT!

ErisDiscordia

legendary

Activity: 1133

Merit: 1163

Imposition of ORder = Escalation of Chaos

Quote from: b!z on October 07, 2013, 09:05:54 AM

Quote from: alpha492 on October 07, 2013, 08:57:14 AM

IMO

Gov. Regulation of BTC + No SR = Death of BTC

Really if the gov. starts fiddling around with BTC why not just go back to USD, wtf would be the difference at all?

Would you rather have the government ban BTC?

To answer this question for OP:

No. I would rather have people stop looking to the government for permission or approval to do this or that. Government is potentially unnecessary and irrelevant, it just takes enough people to realize this

CrazyRabbi

hero member

Activity: 490

Merit: 500

UNDER NEW MANAGEMENT

Quote from: helohe on October 07, 2013, 10:02:01 AM

Quote from: b!z on October 07, 2013, 09:05:54 AM

Quote from: alpha492 on October 07, 2013, 08:57:14 AM

IMO

Gov. Regulation of BTC + No SR = Death of BTC

Really if the gov. starts fiddling around with BTC why not just go back to USD, wtf would be the difference at all?

Would you rather have the government ban BTC?

the government

what should anyone care what the us government decides about bitcoin? the us is not the world police, neither has the us anything to say at all about the law in any other part of the world. I don't give a fuck what the us decides about bitcoin.

Agreed the US Government can suck an orange!

helohe

newbie

Activity: 20

Merit: 0

Quote from: b!z on October 07, 2013, 09:05:54 AM

Quote from: alpha492 on October 07, 2013, 08:57:14 AM

IMO

Gov. Regulation of BTC + No SR = Death of BTC

Really if the gov. starts fiddling around with BTC why not just go back to USD, wtf would be the difference at all?

Would you rather have the government ban BTC?

the government

what should anyone care what the us government decides about bitcoin? the us is not the world police, neither has the us anything to say at all about the law in any other part of the world. I don't give a fuck what the us decides about bitcoin.

CrazyRabbi

hero member

Activity: 490

Merit: 500

UNDER NEW MANAGEMENT

Quote from: crazy_rabbit on October 02, 2013, 03:11:45 PM

Today some teams career will have been made on the arrest of silk roads owner. What it also means is that the US government has become one of the larger BTC holders out there via their seizure. It also means that the government is finding its feet in terms of understanding bitcoin.

This is very important in terms of the US government being a partner in Bitcoin. It proves to them that bitcoin is not beyond their reach or understanding. It means that some of the best experts on bitcoin are within the FBI and financial crimes departments. Is is an important step towards proper regulation and support by the government. It also means that scams will be less easy to pull off. The victims of pirate should be happy knowing this, as should future investors be comforted in knowing the government it not totally powerless to enforce law and order in the virtual space.

Maybe you won't buy as many drugs online from here on out, but we can look forward to buying a lot more normal, legal, things.

It's a good day (scary on the exchanges) but a good day nonetheless.

Ohh crazy_rabbit...

My friend , my friend , Apply your palm to your face.. you'll feel much better...

b!z

legendary

Activity: 1582

Merit: 1010

Quote from: alpha492 on October 07, 2013, 08:57:14 AM

IMO

Gov. Regulation of BTC + No SR = Death of BTC

Really if the gov. starts fiddling around with BTC why not just go back to USD, wtf would be the difference at all?

Would you rather have the government ban BTC?

kik1977

hero member

Activity: 593

Merit: 505

Wherever I may roam

Quote from: Thursday on October 02, 2013, 03:25:34 PM

Is op an idiot that doesn't understand bitcoin? One of the premises behind Bitcoin is to be out of the guberments reach. Go start an altcoin and get the Feds stamp of approval if that's what you want, better yet just use dollars.

Do you really need to call someone an idiot if you disagree with him?

alpha492

full member

Activity: 195

Merit: 100

IMO

Gov. Regulation of BTC + No SR = Death of BTC

Really if the gov. starts fiddling around with BTC why not just go back to USD, wtf would be the difference at all?

gwedo

member

Activity: 83

Merit: 10

I can't believe DPR put all his bitcoin into only one wallet and did not make any password. And did not make any cold copies which are saved in secret stash.
Especially when only on provision he earned over 600 thousands bitcoin.
I think he must have somewhere some cash.
And besides it, what is also interesting, government sells these bitcoins (suppose they will not disappear somehow) after the trial will be over and DPR jailed. But at that time they could have 100 times bigger value than now.
And what government will do with so much money?
Pay a fraction of interest on state debt or buy some guns for the army? I am sure if they do anything it probably will be worse than let the money in Ulbrichts hands.

Topic: Why the downfall of Silkroad will be the partnership of bitcoin and the US gov (Read 2707 times)