Quote:
Originally Posted by holograph
you speak nonce, my friend.
I point to the opportunity and warn not to jump blindly. and yes like with anything new there are always risks involved and things to be desired about which one should be aware and consider before jumping in. me staying reasonable and cold headed about it - if that's definition of a brainwashed sheep, that's fine by me.
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Educate yourself on the Money Transfer Service regulation requirements and you will plainly see how Bitcoin fails to comply with these regulations and why it is doomed to fail.
Technologically it is a very interesting concept, but you cannot create money or currency. Its no more different than anyone here deciding to create money backed by their own encryption and not have to legally register it.
China's dealt with it with QQcoin. eGold got smacked the fuck down, and as Bitcoin increases in usership and legal tender transfers, it will get bitch slapped as well. Don't think the decentralized P2P system will protect you as they'll go after people and websites offering real money purchases/exchanges.