quote:
I'm waiting to hear of the first govt seizure of bitcoins or a sting involving bitcoin transactions.

It's a matter of when, not if, it happens.

It will be interesting to see how many bitcoiners try to comply with fedgov regulations vs. how many try to circumvent them. For widespread adoption, compliance will likely be necessary. But then again, the whole raison d'être of bitcoins is to flip the state the middle finger.

No doubt that governments all over are going to attempt whatever they can to fight bitcoins (or decentralized crypto-currencies in general), but the issue truly is, can they do it in a cost effective manner?

If it costs them more to investigate crypto-currencies than they can collect in taxes, then the end-game will be in sight.

This post was edited on 4/19/13 at 9:43 pm

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Posted by LSURussian

Member since Feb 2005

126965 posts

Posted on 4/19/13 at 9:48 pm to WikiTiger

It will be a long time before bitcoins represent enough revenue volume to justify tax evasion monitoring, in spite of you comparing bitcoins' business success with Facebook.

Speaking of that, by the time Facebook had been in use by the general population that bitcoin has now, Facebook was adding more new users EVERY MONTH than bitcoin has in total users now. Now don't you look stupid?

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Posted by Vols&Shaft83

Throbbing Member

Member since Dec 2012

69933 posts

Posted on 4/19/13 at 9:54 pm to WikiTiger

quote:
No doubt that governments all over are going to attempt whatever they can to fight bitcoins (or decentralized crypto-currencies in general), but the issue truly is, can they do it in a cost effective manner?

If it costs them more to investigate crypto-currencies than they can collect in taxes, then the end-game will be in sight.

Been tried before, Coinstamps remember, didn't work out then, won't work now.

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