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[VB] Forget piracy, U.S. government is going after Bitcoin  

post #1 of 40
Thread Starter 
bitcoin530-300x297.png
Quote:
“The only method of payment for these illegal purchases is an untraceable peer-to-peer currency known as Bitcoins. After purchasing Bitcoins through an exchange, a user can create an account on Silk Road and start purchasing illegal drugs from individuals around the world and have them delivered to their homes within days,” the senators wrote.

The senators neglected to mention the much larger negative implications of Bitcoin usage in the letter. If the currency became popular enough to compete with a national currency, it could have the power to undermine that government’s authority far beyond regulating drugs — something China realized and outlawed in 2009.

Source


Wow, this is news to me, I've never even heard of Bitcoin...

(I posted this because of Tech, not for political debate!)
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post #2 of 40
think he missed what bitcoins are about... waw.

https://en.bitcoin.it/wiki/Main_Page
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post #3 of 40
don't we use bitcoins here for things similar to what folding does?
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post #4 of 40
I'm not surprised the us government is going after this, but let's hear the real reason they want to outlaw it. I bet it starts with an F.
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post #5 of 40
Yes, I am sure that China outlawed bitcoins due to drugs and not just because it is an anonymous currency that doesn't require anyone to have personal information involved. This is upsetting, the price spiked at 25 USD per bitcoin and mining is actually very profitable. I'll read the article here and see what its about, though it can't be anything good.
post #6 of 40
Tittle is sensationalist to be honest. The article is mostly about old news on a senator that wants to go after silk road and thinks that bitcoins are a money laundring system. But he really was focusing on silk road.
post #7 of 40
Government control of money is something that needs to end sooner rather than later.
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post #8 of 40
I wonder if this has got anything to do with Lulz getting their donations via BitCoin, and less about drugs.
 
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post #9 of 40
Quote:
Originally Posted by Blameless;13808679 
Government control of money is something that needs to end sooner rather than later.

Absolutely yessir.gif
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post #10 of 40
What is this silk road, I thought that was a F2P game?
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