- My Forums
- Tiger Rant
- LSU Score Board
- LSU Recruiting
- SEC Rant
- SEC Score Board
- 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: Bitcoin Casinos Release 2012 Earnings
Posted on 1/22/13 at 10:06 pm to WikiTiger
Posted on 1/22/13 at 10:06 pm to WikiTiger
quote:
Remember, there are no "bitcoin accounts." There is no need for personal information to be used when controlling bitcoins. Even if you can be identified at the point of exchange, there is nothing to prevent a person from sending those bitcoins to other addresses they control. That can make financial forensics very difficult.
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.
Posted on 1/22/13 at 10:14 pm to MStant1
Actually a quick search shows that Bitcoins potential for money laundering and terrorist finance is already on the governments radar.
FBI Report
Sorry, I blame my question on my day job.
FBI Report
Sorry, I blame my question on my day job.
Posted on 1/23/13 at 9:27 am to MStant1
quote:
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.
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.
Popular
Back to top
Follow TigerDroppings for LSU Football News