US Government Cracking Down on BitCoin?
 

https://www.vocativ.com/01-2014/bitc...ey-laundering/ The final three paragraphs are eye-openers.

tl;dr...

At the end of the day there always needs to be a way for people to turn bitcoins into fiat currency. All the governments need to do is attack the exchanges. This reminds me of "black friday" in the poker world. The government started with the payment processors then moved to the sites themselves.

The government will probably never be able to eliminate the exchange but how confident will merchants and bitcoin hoarders be if the exchanges start dropping like flies. It reminds me of how poker players felt when they put money on sites and were not 100 percent they could cash out. Sure enough, eventually they couldn't.

What is amazing about these idiots is that they continue to stay in the USA AFTER they see others get busted for doing similar things.

That sounds like they're more against money laundering than bitcoin. The guy had a btc/cash exchange and didn't enforce the regulations.

the guy was/is a drug dealer and crowed about drugs to a media outlet. of course the law came after him.

He's not really in trouble for the drugs.

the feds most certainly are after him for being a doper:

http://i.huffpost.com/gen/1491918/th...S-large570.jpg

The founder of a prominent Bitcoin exchange company has been arrested and charged with running an illegal scheme to sell the digital currency to customers trafficking narcotics on the now-defunct drug website Silk Road, prosecutors said Monday.

Charlie Shrem, 24, chief executive of BitInstant, was arrested Sunday at John F. Kennedy International Airport in New York on charges of conspiring to commit money laundering and operating an unlicensed money transmitting business, prosecutors said. He is scheduled to appear in court on Monday.

Robert Faiella, an underground Bitcoin exchanger, faces the same charges for allegedly obtaining Bitcoins with help from Shrem's company and then selling the digital currency to users of Silk Road, which only accepts Bitcoin as payment.

continues here...

http://www.huffingtonpost.com/2014/0...n_4674148.html

Arresting that people can't stop bitcoins

Then why have bitcoin ATMs?

Money Laundering is a serious charge in the USA.
It usually comes with Tax Evasion charges also.

Steal from anyone but the Government!

Anyone associated with Silk Road in a financial sense will face this type of action sometime in the future.

The site associated cases/arrests have just started for the Money/Financial players involved.

Good Propaganda for the Anti-BitCoin folks though.

I wonder if the Winklevoss Twins will be implicated eventually?

They are against drug dealers and criminals not bitcoin.

Who is the model in your avatar? :pimp

Funny how people attacking bitcoin as if it was the problem. This arrest was based on 1 guys bad decisions. It's like if US dollar was being attacked because of Kenneth Lay and the Enron scandal LOL

It's inconvenient for some people to let the truth get in the way of a good story. :upsidedow

In the end, I think this is about the scofflaws of Silk Road. It was an ugly start for Bitcoin, but the genie isn't going back in the bottle.

Cryptocurrency is here to stay.