Topic: Will Bitcoin use spread into industries like firearms? (Read 354 times)
global moderator
Activity: 3990
Merit: 2717
Join the world-leading crypto sportsbook NOW!
I can't see why it wouldn't spread to this industry (or any other industry for that matter). In fact, there's at least one gunshop that accepts BTC already: http://www.foxnews.com/tech/2014/03/30/texas-based-gun-company-allows-customers-to-make-purchases-using-bitcoin/
http://www.washingtontimes.com/news/2014/may/18/targeted-gun-sellers-say-high-risk-label-from-feds
Unfortunately, the Obama administration is attempting to enforce it's social ideas through under the table regulatory moves, such as forcing banks to drop customers who have businesses in a number of areas. One of these is the firearms industry. For those outside the US, I will explain. Firearm sales in the USA are regulated, and each purchaser from a store has a background check and must meet strict requirements.
For the government to pressure banks to close bank accounts of gun stores, then is an attempt to pressure an entire industry either to change or to cease to exist. This is broad. Obviously the banks, placed in an impossible position of judging or guessing which accounts to close, cannot figure out that gun shop A primarily sells para military gear and "assault rifles" and gun shop B primarily sells hunting rifles.
I do see a hidden objective, possibly. The banks would be very unlikely to close the bank account of say Walmart, which does have a sporting goods department which does sell firearms. They could easily close the account of a small mom and pop store. So these regulatory burdens provide a competitive advantage to the big chain stores, and put small business out of business.
These fascist moves are deplorable, but what will be it's effect on the bitcoin economy?
Unfortunately, the Obama administration is attempting to enforce it's social ideas through under the table regulatory moves, such as forcing banks to drop customers who have businesses in a number of areas. One of these is the firearms industry. For those outside the US, I will explain. Firearm sales in the USA are regulated, and each purchaser from a store has a background check and must meet strict requirements.
For the government to pressure banks to close bank accounts of gun stores, then is an attempt to pressure an entire industry either to change or to cease to exist. This is broad. Obviously the banks, placed in an impossible position of judging or guessing which accounts to close, cannot figure out that gun shop A primarily sells para military gear and "assault rifles" and gun shop B primarily sells hunting rifles.
I do see a hidden objective, possibly. The banks would be very unlikely to close the bank account of say Walmart, which does have a sporting goods department which does sell firearms. They could easily close the account of a small mom and pop store. So these regulatory burdens provide a competitive advantage to the big chain stores, and put small business out of business.
These fascist moves are deplorable, but what will be it's effect on the bitcoin economy?
Jump to: