re: Bitcoin Casinos Release 2012 Earnings

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I'm curious if anyone in the online community has any concerns about Bitcoins potential to be forced into meeting anti-money laundering regs? Right now given that it isn't mainstream protects them, but if Bitcoins were to grow in perceived legitimacy it could grab unwanted attention from Uncle Sam.

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As you've found out, bitcoins are already on the radar. But you asked if bitcoins could be forced into meeting anti-money laundering regulations, and the answer to that is a resounding NO.

Keep in mind that bitcoin is not centralized at all. There are no offices, servers, board of directors, employees, etc. Bitcoin is only a protocol. And for all intents and purposes it can't be changed (to change bitcoin's protocol would require consensus from the community, which would be nearly impossible to get).

So the government cannot "shut down" bitcoin in the same sense that it shuts down pirate web sites, or whatever.

The only options they would have at their disposal would be creating laws that prevent their citizens from using it, which would be a major infringement on liberty. As it stands now, Americans do still have the freedom to trade in other currencies.

And furthermore, the only way to effectively enforce that law would be to become extremely invasive, perhaps totalitarian.