You are either too dumb to get it or too obtuse to acknowledge that the ability to regulate is the ability to remove anonymity from bitcoin ownnership. Just as with the Swiss Banks and their depositors, the businesses that qualify as MSB will have to make their records avaialable to the government. You can pretend you are beyond the reach of authority, but the truth is that bitcoins are on the government's radar, and the regulators will look for reasons to regulate since that increases their power and job security.

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Posted by WikiTiger

Member since Sep 2007

41055 posts

Posted on 3/19/13 at 11:06 am to Poodlebrain

quote:
You are either too dumb to get it or too obtuse to acknowledge that the ability to regulate is the ability to remove anonymity from bitcoin ownnership.

Do you people study anything about bitcoin before you make ignorant comments like that?

The regulation of exchanges allows for the anonymity of bitcoins to be removed at that point only.

The triviality of creating new bitcoin addresses and transferring bitcoins to them makes anonymity and/or plausible deniability accessible.

For instance, you buy 100 bitcoins from a regulated exchange. Those bitcoins are sent to 1 bitcoin address. The only record of you possessing those bitcoins is the record the exchange has that says they sent 100 bitcoins to that address.

Once you receive your bitcoins at that address, you could easily split them between 100, 1000, even 1 million different addresses if you so choose.

Or, even better, you could use a tumbler or mixing service if you wanted.

All these threads prove to me is that most of y'all lack the ability to understand the technical details of the technology and that limits your ability to discuss the topic effectively.

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