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link

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I could be wrong, but my understanding is that a LOT of illegal activity has started using bitcoin for their transactions.

If that is true, then it's silly to think that the feds wouldn't step in.

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I could be wrong, but my understanding is that a LOT of illegal activity has started using bitcoin for their transactions.

If that is true, then it's silly to think that the feds wouldn't step in.

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If you're going to create a currency backed by nothing the government will shut you down.

They run that game here.  

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I could be wrong, but my understanding is that a LOT of illegal activity has started using bitcoin for their transactions.

If that is true, then it's silly to think that the feds wouldn't step in.

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Finding good articles, how does it work?

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I could be wrong, but my understanding is that a LOT of illegal activity has started using bitcoin for their transactions.

If that is true, then it's silly to think that the feds wouldn't step in.

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dupe no search

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The people who own the .gov does't like competition when it comes to currency.

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Here's one from PC World.

That's the most credible I can find.

http://www.pcworld.com/article/2038755/us-federal-court-order-halts-dwolla-wire-transfers-to-mt-gox.html

   The U.S. Department of Homeland Security confirmed it has initiated legal action that prompted the Dwolla payment service to stop processing bitcoin transactions.

   Nicole Navas, a spokesperson for U.S. Immigration and Customs Enforcement, confirmed the legal action to CNET this afternoon.

   Dwolla, a Des Moines, Iowa-based startup, which raised $16.5 million in funding two weeks ago, notified users about the move earlier Tuesday. It blamed the decision on “recent court orders” limiting its ability to send money through Mt. Gox, the largest bitcoin exchange.

   “In order not to compromise this ongoing investigation being conducted by ICE Homeland Security Investigations Baltimore, we cannot comment beyond the information in the warrant, which was filed in the District of Maryland earlier today,” Navas told CNET.

   Dwolla has refused to elaborate, saying through its support account on Twitter only that “we received a court order” and inquirers should follow up with the affected parties.

   …

   Homeland Security declined to elaborate on the warrant or court proceedings.

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lol bitcoin

Bitcoin is to state-issued currencies – often referred to as fiat money – as P2P file-sharing is to traditional broadcast media. There is no centralized source for it that can be controlled or moderated or regulated. It is difficult if not impossible to track from the outside. It is more complex to use than its better-known counterpart, but there are at least theoretical advantages to doing so.

network

In the case of file-sharing copyrighted content, the big advantage (apart from not paying for stuff) is the ability to ignore program scheduling or territorially-based release windows. In the case of Bitcoin — which has the added advantage of being lawful — users get to send money anywhere in the world for minimal fees, and to protect that money from the political considerations that influence central banks.

In short, both Bitcoin and file-sharing are peer-to-peer, meaning users get to both cut out the middleman and, on an emotional level, stick it to The Man. That last factor is not trivial: Satoshi Nakamoto (the pseudonym for Bitcoin’s Keyser Söze -like initiator or initiators) seems to have had strong libertarian ideals in mind when he, she or they set the experiment in motion.
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Should you get Bitcoins? I don’t know – the value against the U.S. dollar could continue to rise, or the bubble could burst. But frankly, I don’t really care. From where I’m sitting, Bitcoin is already proving its worth as a disruptor and as a test-case for how technology could divorce currency from certain external factors. If it fails, it may hurt those who bought into it big-time, but it’s not a large enough ecosystem to have wider repercussions. And if it does fail, it will have successors.

Let’s see what happens next, because the crypto-currency genie is out of its bottle.