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Old 06-17-2011, 01:02 PM   #51
V_RocKs
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50 Paxum accounts
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Old 06-17-2011, 01:04 PM   #52
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Bitcoin ... is that a new gay gadget??
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Old 06-17-2011, 02:03 PM   #53
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Not sure how much 25,000 BTC is, but:

http://forum.bitcoin.org/index.php?topic=16457.0
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Old 06-17-2011, 02:05 PM   #54
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Quote:
Originally Posted by APN Philip View Post
Not sure how much 25,000 BTC is, but:

http://forum.bitcoin.org/index.php?topic=16457.0
http://www.pcmag.com/article2/0,2817,2387194,00.asp
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Old 06-17-2011, 02:42 PM   #55
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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.
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.
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Old 06-17-2011, 03:36 PM   #56
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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.
I'm not in Money Service Business so these regulations don't apply to me. I know enough that if I handle 3rd party money transfers there are MTS license and regulations such as know your customer. If you have some insight why you think Bitcoin is doomed in this regard, please share if you'd like. Interestingly, currently it's debatable whether bitcoin is a currency or a commodity. Can't anyone open legit commodity exchange?

Quote:
Originally Posted by Ravage View Post
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.
I cannot create money and insist to pay my taxes with it or mortgage/rent - it's true. But I can trade for anything I like, I can sell design for some wood sticks or anything else if it would make sense (exluding drugs and weapons for sake of discussion) and no one can do a thing about it. To pay taxes I would need to convert/exchange these sticks to USD. Anyone can create currency and it's not illegal in the USA. there is one town which runs on its own currency today:
http://abclocal.go.com/wtvd/story?se...cal&id=6747829


Quote:
Originally Posted by Ravage View Post
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.
I can't comment on QQcoin or eGold haven't done much research there, maybe there was some centralized laundering or some scamming going on. But why would you think someone (the government) will go after me, an honest small business entrepreneur? I pay my taxes and will pay on gains from bitcoin enterprise at the time of conversion to USD, I have nothing to hide, so what is the problem and why I should be scared?
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Old 06-17-2011, 03:58 PM   #57
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Facebook has its own currency!
IStockPhoto has its own currency!
Second Life's linden dollars, WOW gold - all are currencies!
there are plenty more examples where other non national currencies exist and being traded for with other currencies.
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Old 06-17-2011, 04:37 PM   #58
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bitcoins are NOT a currency as in leave it alone as in NO NO
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Old 06-17-2011, 11:51 PM   #59
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Originally Posted by APN Philip View Post
Not sure how much 25,000 BTC is, but:

http://forum.bitcoin.org/index.php?topic=16457.0
Around $USD500k at the time they were stolen.

With regards to the OP, note that Dwolla accepts accounts from USA only.
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Old 06-27-2011, 05:54 AM   #60
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https://gfy.com/showpost.php?p=18242521&postcount=109
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