- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: You can spend bitcoins at your local mall
Posted on 5/16/13 at 2:11 pm to WikiTiger
Posted on 5/16/13 at 2:11 pm to WikiTiger
quote:
What do y'all think of WebMoney announcing the integration of bitcoin? As I understand it, WebMoney is pretty much the Russian equivalent of PayPal.
I'm sure the Russian Mafia will be happy to have a new place to launder money
1
Posted on 5/16/13 at 2:12 pm to Vols&Shaft83
Yeah, the "Russian equivalent" of anything isn't really a selling point to me. 
Posted on 5/16/13 at 2:13 pm to Walking the Earth
quote:
Yeah, the "Russian equivalent" of anything isn't really a selling point to me
Hey..wait a frickin' minute!!!
Posted on 5/16/13 at 2:14 pm to LSURussian
Present company excluded.
And on the bright side, nobody beats the Russians when it comes to either vodka or hot women tennis players.
And on the bright side, nobody beats the Russians when it comes to either vodka or hot women tennis players.
This post was edited on 5/16/13 at 2:15 pm
Posted on 5/16/13 at 2:15 pm to LSURussian
quote:
Hey..wait a frickin' minute!!!
Posted on 5/16/13 at 2:16 pm to WikiTiger
quote:The Bitcoin economy is only slightly more noticable than a unicorn fart in a hurricane. Bitcoins have to be converted into some other currency before they can be spent. The conversion comes with a fee attached which means the consumer is paying a higher price, so I think this is a negative for the Bitcoin economy.
Do you think Gyft accepting bitcoins is a positive or negative for the bitcoin economy?
Posted on 5/16/13 at 2:23 pm to WikiTiger
quote:
onulens 34 points 8 hours ago It is indeed a "WOW". Per description of WMX purses, this basically adds an option to use bitcoins for payments in all stores that accept webmoney, which is pretty much everything.
This is the first post in the reddit thread. What is he talking about? I've never heard of webmoney
Unless everything = everywhere except the US
Posted on 5/16/13 at 2:25 pm to ZereauxSum
quote:
This is the first post in the reddit thread. What is he talking about? I've never heard of webmoney
Unless everything = everywhere except the US
pretty sure they meant "everything in Russia"
Posted on 5/16/13 at 2:42 pm to WikiTiger
quote:
pretty sure they meant "everything in Russia"
OK gotcha.
In that case, I don't know what's going on in Russia so I have no idea.
Posted on 5/16/13 at 2:44 pm to WikiTiger
I just bookmarked this. On the off chance that I find myself in Russia next week.
Posted on 5/16/13 at 3:40 pm to Broke
quote:
It seems fricking ridiculous to me. Let me convert my dollars to bitcoin. Then I'll convert my bitcoin to giftcards, which are in USD. Then I'll go to the mall and spend my gift card.
Why not go to the fricking ATM, get $500 out and walk into the mall?
It is not about shopping, but sending a message.
Posted on 5/16/13 at 3:43 pm to LSUisLIFE6
quote:
It is not about shopping, but sending a message.
When I spend money, it's pretty much about shopping. What's the message though? We've now got a cool new currency that can't be used anywhere other than the blackmarket drug store?
Posted on 5/16/13 at 4:02 pm to LSUisLIFE6
quote:
It is not about shopping, but sending a message
Right now it's about middlemen taking a cut of your dollars just so you can spend those dollars while calling them a different name.
Posted on 5/16/13 at 4:05 pm to Walking the Earth
Posted on 5/16/13 at 4:09 pm to WikiTiger
2 million bucks screams "Let's throw $200,000 at this and see if it sticks."
Posted on 5/16/13 at 4:11 pm to Broke
quote:
2 million bucks screams "Let's throw $200,000 at this and see if it sticks."
Well, Peter Thiel only invested $500,000 in Facebook back in 2004. so would it be safe to say that he feels more confident in BitPay than Facebook?
Posted on 5/16/13 at 4:12 pm to WikiTiger
Trouble abrewin
quote:
SatoshiDICE_PR posted:
Dear Community,
Beginning tomorrow, Thursday May 16, SatoshiDice.com will close to US players and all US-based IP’s will be blocked from the website. You will also see a new terms of service agreement to which you must
agree if you wish to play.
This decision was made on the basis of extensive legal counsel. The best way to limit legal risk for SatoshiDice, and thereby protect its stakeholders, is to block US players.
Note that this decision does not mean that online gambling is illegal in the US, nor does it mean that Bitcoin gaming is illegal. However, the courts have not been clear on the definition of gambling, nor
on what would constitute “legitimate gaming,” nor are jurisdictions properly defined, and thus this is a proactive measure to protect those involved in the project.
Further, this decision is not being made because of any citation or notice from any government agency, whatsoever. This is not, in any way, related to the recent Gox/Dwolla court order issue. Again, it is a proactive measure, based on the prudent legal guidance of our trusted lawyers.
We believe this is a wise move for the site to perpetuate in the long term.
Further, to clarify, SatoshiDice is hosted in Netherlands, Iceland, and Ireland, and has never utilized US currency or engaged with the US banking system whatsoever.
-SD
Posted on 5/16/13 at 4:15 pm to WikiTiger
Mt.Gox is frickED
From Poster The Entire Universe on Something Awful
From Poster The Entire Universe on Something Awful
quote:
Basically FinCEN (part of the Treasury) wants people not to launder money. This means that if you are, say, operating a currency exchange, you have to follow some laws regarding registering your exchange, reporting suspicious activity, and generally not encouraging illegal activity a la Silkroad.
MTG:OX seems to believe they could get away with this by splitting the "currency" and "exchange" parts (to put it bluntly - one half acts as the intake, then buys the buttcoins on behalf of fools from the other half, or sells them on behalf of fools, depending on the direction the conversion is going) and simply not reporting either as a currency exchange - much like how Voltron isn't Voltron unless they combine or something - which is very illegal due to the fact that it's still a drat exchange.
The reasoning behind registering exchanges is pretty clear - an exchange (especially an internet one) poses a risk for money laundering (stolen money goes in, turns to buttcoins, goes wherever, comes out as cash) and ideally regulatory compliance ensures that you don't do business with OFAC/BOE/whoevs-sanctioned countries or individuals, or launder money for kid diddlers/Zetas. These days the focus is less on CTF and more on non-terrorist AML, unless you're HSBC of course. In which case you focus on neither and get caught.
Operating as an unregistered exchange is like demanding that you get your door kicked in by the feds. It's mindboggling to think that these guys didn't care to consider that but hey, buttcoiners. Seriously, it's like operating a moonshine still in Central Park.
I can speak with a small amount of expertise on the matter of AML/CTF laws (small = I've worked in the regulatory/AML field for about 5 years now with a big financial institution, but I'm an analyst, not a lawyer) and can definitely say that unless they have a very good explanation they're going to find their troubles have just begun. Soon all the FIUs will be up MTG:OX's butthole just like FinCEN. Maybe not with as much seizure/forfeiture as this first round, but folks in Luxembourg are probably going to be very interested about any connection to the EU. Thinking it's OK because they're partially located in Japan is even more hilarious given their regulatory environment makes the US' look like post-apocalyptic anarchy.
Posted on 5/16/13 at 4:19 pm to Vols&Shaft83
quote:
Mt.Gox is frickED
Let me summarize:
Mt. Gox was trying to use a sleight of hand by separating the bitcoin business from the USD business, hoping to get off on a technicality. The DHS is not amused by this type of trickery and trying to intentionally deceive the US government will hurt their case even more.
And this is only the tip of the iceberg. The seizure is the beginning of what is likely a long procedure to find additional laws that Mt. Gox may be in violation of and possibly look into a money laundering angle. They even have the power to go through their customer records looking for tax cheats (there are an astounding number of customers who are publicly announcing that they don’t have to pay taxes on bitcoin which is wrong wrong wrong).
Posted on 5/16/13 at 4:21 pm to Vols&Shaft83
quote:
quote:
Mt.Gox is frickED
Let me summarize:
Even if you're right, which is not actually certain, but even if you are, what do you think will be the effect?
I don't understand your fascination with MtGox when attacking Bitcoin.
This post was edited on 5/16/13 at 4:22 pm
Page 2 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News