Iranian's discover bitcoin | TigerDroppings.com
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joshnorris14
Florida Fan
Florida
Member since Jan 2009
21470 posts

Iranian's discover bitcoin

LINK


Good things ahead.


KosmoCramer
Ohio State Fan
Member since Dec 2007
48964 posts
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re: Iranian's discover bitcoin
Are drug cartels using bitcoin yet?


SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
306848 posts

re: Iranian's discover bitcoin
can't wait to see how governments respond


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TrueTiger
LSU Fan
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re: Iranian's discover bitcoin
Should the IRS freak out over this?


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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Iranian's discover bitcoin
Wish I had more time to get into this tonight. Hope this thread is alive in the morning


C
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The Woodlands, TX
Member since Dec 2007
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re: Iranian's discover bitcoin
kinda sucks. I imagine bitcoin will be made illegal if this is true.


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Iranian's discover bitcoin
quote:

I imagine bitcoin will be made illegal if this is true. 


I'm sure something will be attempted, especially in more restrictive countries, but I don't think the US would have a constitutional leg to stand on if they tried to ban it. Of course, we all know that means little to politicians.


C
LSU Fan
The Woodlands, TX
Member since Dec 2007
22724 posts
Online

re: Iranian's discover bitcoin
quote:

I don't think the US would have a constitutional leg to stand on if they tried to ban it


How different would it be than other types of financial restrictions?


SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
306848 posts

re: Iranian's discover bitcoin
quote:

but I don't think the US would have a constitutional leg to stand on if they tried to ban it.

the feds can for sure

it's interstate commerce by its very definition


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21470 posts

re: Iranian's discover bitcoin
quote:

Are drug cartels using bitcoin yet?


The Silk Road laughs at drug cartels.


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Iranian's discover bitcoin
quote:

How different would it be than other types of financial restrictions? 


Because technically bitcoins are only speech. bitcoin accounts don't actually exist. The only thing that actually exists is a public ledger. The transactions are

actually just a representation of a completion of a math problem. I'm on my phone right now and really can't go too

deep into it all. But this is hardly an
original argument


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Iranian's discover bitcoin
quote:

feds can for sure


Ignoring the obvious near impossibility of enforcement, how would the feds ban it? By what rationalization?


SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
306848 posts

re: Iranian's discover bitcoin
well, to be concise, it's used via an instrumentality of interstate commerce. that's under the expansive neo-federal powers though. but as a monetary unit, it's a means of interstate commerce and almost assuredly falls under the restrictive original intent


C
LSU Fan
The Woodlands, TX
Member since Dec 2007
22724 posts
Online

re: Iranian's discover bitcoin
quote:

Because technically bitcoins are only speech.


isn't all tender?


jso0003
Auburn Fan
Birmingham/Atlanta
Member since Jun 2009
5163 posts

re: Iranian's discover bitcoin
quote:

The Silk Road laughs at drug cartels.


Think you got this one backwards


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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Iranian's discover bitcoin
quote:

well, to be concise, it's used via an instrumentality of interstate commerce. that's under the expansive neo-federal powers though. but as a monetary unit, it's a means of interstate commerce and almost assuredly falls under the restrictive original intent 


Fair enough, so what do you see the feds actually doing?

one theory I read was that the us government would be hesitant to do anything because acknowledging bitcoin as a threat would mean that they also acknowledge the weakness of their own currency


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Iranian's discover bitcoin
quote:

isn't all tender? 


I suppose. But not in the same way that bitcoin is. I will try to find the link that explains the speech argument better


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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
22724 posts
Online

re: Iranian's discover bitcoin
quote:

acknowledge the weakness of their own currency


Not if they say it's being used almost exclusively for illegal activity.


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Iranian's discover bitcoin
quote:

Not if they say it's being used almost exclusively for illegal activity.


That propaganda has been pushed for at least two years now and yet the bitcoin network continues to grow rapidly...and much of the growth is in the legit realm





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joshnorris14
Florida Fan
Florida
Member since Jan 2009
21470 posts

re: Iranian's discover bitcoin
quote:

Not if they say it's being used almost exclusively for illegal activity.


How would they police it?

They could try but they'd be fighting an unwinnable battle. Not that they don't do that frequently, but at least in other cases they can throw some people in cages.


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