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Posted on 4/26/13 at 10:33 am to WikiTiger
I don't know Wiki and Gizmo, the guy runs a bitcoin business. Russian was pointing out the business was a bitcoin business. 
Posted on 4/26/13 at 10:39 am to OnTheBrink
Wiki said that bitcoins can't be seized or frozen
Then Russian said, "yes, they can, gotcha!" ... but he only linked to a case where a BANK account of a bitcoin exchange company was frozen
no bitcoins were frozen
Then Russian said, "yes, they can, gotcha!" ... but he only linked to a case where a BANK account of a bitcoin exchange company was frozen
no bitcoins were frozen
Posted on 4/26/13 at 10:41 am to WikiTiger
quote:
I also like how he added the "(bitcoin)" to the quote when it does not actually appear in the article.
Most intelligent people know that I did that so that anyone reading just the quote and not the link would see how it is related to bitcoin. That's why I put the word bitcoin in parenthesis in order to show I inserted it.
You're desperate to discredit me.
quote:
Such a blatant misrepresentation of the facts should be a ban-worthy offense.
Posted on 4/26/13 at 10:43 am to WikiTiger
Its funny because the banks can close their bank accounts but not their bitcoin wallets. Russian is actually proving your point
This post was edited on 4/26/13 at 10:44 am
Posted on 4/26/13 at 10:45 am to gizmoflak
quote:
no bitcoins were frozen
So, if you did your business through those two companies, could you acquire bitcoins during the freeze? It seems not.
From article:
quote:
As of this writing we had not heard back from TD Bank, the other bank that shut down or turned away the Bitcoiners.
Also, I guess the anonymity just went out the window. Also, from the article:
quote:
But they've only just begun to catch up with its explosion — Bitcoin merchants must now report all large and/or unusual transactions.
Posted on 4/26/13 at 10:50 am to OnTheBrink
quote:
But they've only just begun to catch up with its explosion — Bitcoin merchants must now report all large and/or unusual transactions.
Saw that too. It would just bring up red flags for money laundering if they didnt report unusual activity, if this was a real currency.
This post was edited on 4/26/13 at 10:51 am
Posted on 4/26/13 at 10:53 am to OnTheBrink
quote:
So, if you did your business through those two companies, could you acquire bitcoins during the freeze? It seems not.
Exchanges are a transitory point in the bitcoin economy. Typically, an exchange customer wires dollars to the exchange and then purchases bitcoins that are offered for sale. Once the transaction has completed, the new owner of bitcoins can then send those bitcoins to a wallet that he/she has full control over. Once that is done, their bitcoins are safe (providing they secure them properly) and they cannot be seized or frozen.
Some people choose to leave bitcoins on third party sites like exchanges or online wallets. Since they are entrusting a third party with their bitcoins, they are vulnerable to loss or theft if that third party is attacked.
quote:
Also, I guess the anonymity just went out the window.
Bitcoin is psuedonymous. Full anonymity is possible, and relatively easy to achieve, but is not the default nature.
For example: If you buy 100 bitcoins from an exchange and that exchange is required to keep records of that because of government regulations, then it is known that you have 100 bitcoins and what address you initially sent them to.
Now, what if you have 100 bitcoins in address "abcdef" and you send 50 of them to address "ghijkl"....well, did you send them to someone else or a business, or did you simply send them to another wallet that you control? There is no way to tell.
Posted on 4/26/13 at 10:58 am to WikiTiger
Some of these threads need to be bookmarked. Russian and Vols - smart people, but you are so stuck on BTC being funny money that you seem to lose sight of how much it is causing the economy to consider new ways of value transfer.
This is the start of something big and it will only grow from here. Is this a generational divide that you just won't accept a fiat currency not backed by a government?
This is the start of something big and it will only grow from here. Is this a generational divide that you just won't accept a fiat currency not backed by a government?
Posted on 4/26/13 at 10:59 am to lynxcat
quote:
This is the start of something big and it will only grow from here.
Watching this video really gives you that feeling. I was at a Jeffrey Tucker speech last week and he talked about the feeling he got when he made his first purchase. He described it as seeing what the future would be and having an immediate need to tell as many people as possible about it
Posted on 4/26/13 at 11:42 am to joshnorris14
What video?
Posted on 4/26/13 at 11:46 am to lynxcat
Video in OP article
Posted on 4/26/13 at 11:47 am to lynxcat
Posted on 4/26/13 at 11:56 am to joshnorris14
Working now
This post was edited on 4/26/13 at 12:02 pm
Posted on 4/26/13 at 12:04 pm to lynxcat
quote:
Not working for me...
Send .03657465 bitcoins to:
1A4Fi8SnMQlPt0EwNc6amNRkJo8Defw4Fi8SnMQlPt0
EwNc6amNRkJo8DefwedwA6MjgQ2LhEYsOYEp9wVbDDe
fwedwA6MjgQ2LhEYsOYEp9wVbDDefwedwA6MjgQ2Lh
EYsOYEp9wVbDDefwedwA6MjgQ2LhEYsOYEp9wVbDDe
fwedwA6MjgQ2LhEYsOYEp9wVbDDefwedwA6MjgQ2Lh
EYsOYEp9wVbDAw3QPU7DVWdwVbDAw3QPU7DVWdwVbD
Aw3QPU7DVWdwVbDAw3QPU7DVWdwVbDAw3QPU7DVWdw
VbDAw3QPU7DVWdwVbDAw3QPU7DVWdwVbDAw3QPU7D
VWdwVbDAw3QPU7DVWdwVbDAw3QPU7DVWdwVbDAw3Q
PU7DVWdwVbDAw3QPU7DVWdvwVbDAw3QPU7DVWdwVb
DAw3QPU7DVWdwVbDAw3QPU7DVWdwVbDAw3QPU7DV
WdwVbDAw3QPU7DVWdwVbDAw3QPU7DVWd
..and I will enable the video for you.
Posted on 4/26/13 at 12:09 pm to lynxcat
quote:
Some of these threads need to be bookmarked. Russian and Vols - smart people, but you are so stuck on BTC being funny money that you seem to lose sight of how much it is causing the economy to consider new ways of value transfer.
This is the start of something big and it will only grow from here. Is this a generational divide that you just won't accept a fiat currency not backed by a government?
For a change, I'll post a serious response.
I can say that the Bitcoin community has fanatical loyalty, and if, IFFFFFFFFFF, it succeeds it will be because of that. That kind of determination is the foundation of every successful venture in human history.
Also, I love the idea of the free market economy independent of Government interference. (I love the idea because I know how to protect myself against the evil doers in the financial world) There is no doubt in my mind that in the future, paper currencies will be replaced by technology (Like barcodes on your wrists, lol.) And Bitcoin may be the gateway that future, I don't think so, but it could be.
Bitcoin has a lot of benefits, Theoretically. The problem arises when Theory meets Reality. Reality is that right now, bitcoin is volatile, has very limited purchasing power, confusing to the average consumer, and less convenient than other means of exchange. It also has nothing backing it, nothing. I'm not saying a Government has to back it, but something has to. Then there is the shady story of its inception, which bothers me as much as anything.
Bitcoin hasn't seen it's biggest enemies yet either. A lot of very powerful institutions would have a vested interest in destroying bitcoin if it becomes a threat. Large Banks have very deep pockets, deeper than the bitcoin community could even fathom. And I'm not just talking US banks, I'm talking Worldwide. They lobby against crypto-currency hard enough, they can get them outlawed.
Also if Government can't regulate it, they will outlaw it, which won't stop people from using bitcoin I know, but it would certainly stop me. I don't agree with any of this, but that is the reality.
This post was edited on 4/26/13 at 1:14 pm
Posted on 4/26/13 at 1:38 pm to Vols&Shaft83
quote:
It also has nothing backing it, nothing
but it has this:
quote:
the Bitcoin community has fanatical loyalty
When bitcoins bottom out, there will always be fanboys scooping up as many BTCs as possible. I realize this isn't legit backing, more like delusional propping ... but still, I think the fanaticism helps keep prices up a lot
Posted on 4/26/13 at 1:44 pm to gizmoflak
quote:So do I.
I think the fanaticism helps keep prices up a lot
ETA: Or, to quote a btc message board, "I don't care if I lose all my money, I'll keep buying bitcoins because I know it pisses Bernanke off."
True story.
This post was edited on 4/26/13 at 1:45 pm
Posted on 4/26/13 at 1:46 pm to gizmoflak
quote:
When bitcoins bottom out, there will always be fanboys scooping up as many BTCs as possible. I realize this isn't legit backing, more like delusional propping ... but still, I think the fanaticism helps keep prices up a lot
That's exactly what kept Enron's price going up
Posted on 4/26/13 at 2:12 pm to Vols&Shaft83
quote:
That's exactly what kept Enron's price going up
Yeah but Enron was evil and corporate
Bitcoin is good and hip
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