the point is, if they are moving to regulate the exchanges, it's only one step away from shutting down the exchanges, which would effectively kill bitcoin. which according to you was impossible.

also

quote:
many in the bitcoin community who are welcoming this "guidance" because it lends legitimacy to the currency.

attempting to go legit as a currency will likely be the end of bitcoin. legitimacy and anonymity are more or less mutually exclusive. regulation, and therefore an increased ability to track individuals use of bitcoin, will result in it being less appealing to the overwhelming majority of it's current users, whether it be for silk road, poker, kiddie pron, etc. "legitimacy" is not what you want as a bitcoin fan.

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Posted by WikiTiger

Member since Sep 2007

41055 posts

Posted on 3/20/13 at 11:56 am to el duderino III

quote:
if they are moving to regulate the exchanges

They aren't. They just clarified the existing regulations with some guidance.

The thing is, and I pointed this out earlier in the thread but it was ignored, most exchanges, even foreign ones if they accept US customers, already followed the laws. Go try to open an exchange account at MtGox and see all the legal hoops you have to go through. And yet they are located in Japan.

quote:
it's only one step away from shutting down the exchanges

There is nothing to suggest that this will happen. It's pure speculation on your part.

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which would effectively kill bitcoin

quote:
which according to you was impossible.

I'll stand by what I've been saying for a long time now. Governments might attempt to fight the growth of decentralized digital currencies. Governments will ultimately lose the fight.

Now I hope to see you around here in 20 years so you can admit I was right.

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