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(Guardian)   Bitcoin representatives patiently explain to the US government that math is hard   (theguardian.com) divider line 56
    More: Followup, digital currency, tax collectors  
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2857 clicks; posted to Politics » on 27 Aug 2013 at 8:26 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-08-27 12:53:41 PM
I admit that I don't really know much about the subject, but based on what little I know it seems to me that bitcoins are to currency as Esperanto is to language.
 
2013-08-27 01:25:34 PM

trotsky: Go ahead and dump your wife's 401K into it. You'll get scammed out of it and get back 20%. up, uP, UP!


If you really want to get rich off Bitcoins, find those people and short them. For bonus points, start an internet rumor about bitcoins the week before you have to deliver on the contract.
 
2013-08-27 01:40:07 PM

Sudo_Make_Me_A_Sandwich: trotsky: Go ahead and dump your wife's 401K into it. You'll get scammed out of it and get back 20%. up, uP, UP!

If you really want to get rich off Bitcoins, find those people and short them. For bonus points, start an internet rumor about bitcoins the week before you have to deliver on the contract.


Again with the gameability... even more so than "real" currency. At least the Fed knows how to keep the value of the dollar somewhat stable (where is all that inflation we should be seeing?).
 
2013-08-27 04:21:04 PM

Crotchrocket Slim: There is a viable way for drug dealers to do business- just deal in cold hard cash. Why anyone would even consider buying drugs online- even if we ignore that the government excels at monitoring online communication- when you could be buying product you have tested and confirmed is good from a local buyer is beyond me.


Thats the same argument many people have made against amazon, ebay and other online stores. In the end convenience is king.
 
2013-08-27 04:25:29 PM
Murck said he hoped the Federal meetings would clear up misunderstandings. "We view this as the beginning of a conversation about the appropriate role of government and law enforcement in this emerging space. Our hope is that this is the beginning of an open and transparent dialog between good-faith stakeholders to find common ground and develop public-private partnerships," he said.

You poor, poor, deluded fool.
 
2013-08-27 11:40:48 PM
It also dropped last week that MtGOX had several million in US assets forfeited (not frozen, forfeited, as in gone and never coming back), leaving no major exchange to allow you to convert Bitcoins into USD.  There are several smaller exchange out there, but they're much less reliable and much less robust than their predecessor, and also subject to the same forfeiture issues.
 
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