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  • EADD Moderators: Pissed_and_messed | Shinji Ikari

EADD Bitcoins 2

@ retired from game You kind of missed the point of my ramblings bro. You maybe interested in this (translated from the Chinese release as of yesterday). China don't like it so why do any other financial community like it?

"In light of recent unusual volatility in the bitcoin price and in order to protect against risk and maintain financial stability, in recent days the Shanghai Head Office of the People’s Bank of China, the Shanghai office uniting relevant oversight departments, met with staff in charge of trading platform BTCC in order to understand the operations of the platform, to remind them of possible risks, and to request strict compliance with relevant statutory legislation. The platform was pressed to inspect details of their own business and implement measures to ensure it is returned to order, as per the relevant statutory legislation.

According to statement from the People’s Bank of China, Ministry of Industry and Information Technology, China Banking Regulatory Commission, China Securities Regulatory Commission, China Insurance Regulatory Commission on the prevention of risk pertaining to Bitcoin (No. 289, 2013), Bitcoin is designated as a virtual commodity, and does not possess the payment and enforceability properties of currency, does not hold a legal status equal to currency, cannot and should not circulate as currency in the marketplace. Institutional and individual investors should view virtual commodities and virtual currencies appropriately, invest rationally, bear all risks themselves, maintain the security of their assets and establish a correct and proper view of currency and investments."

Basically carry on but one of the worlds biggest global markets no longer accept BTC as viable. Oh and didn't the price just drop by 16%?

In other words it just went pop
 
Boa, ive used the atms, basically insert money and get a receipt with a qr code.
Actually its a while since i done it so cant remember 100% but it was anon alright. I think the options were get a new wallet on receipt or use a phone with btc wallet qr code to send to your phone wallet. The 1st option would be 100% anon, ie buy the btc and send to any addy you want without touching your wallet. Ie direct to darknet.
 
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StoneHappyMonday said:
The RM is sacrosanct, its one of the few good things about having a sovereign (pun intended). It cannot be fucked with or else the whole system of mail delivery collapses.

TOR = invented by the US Navy. Convenient. You don't even need paper trails, just laziness. See SR1 founder.

The RM will not be brought down by Radio 1 Newsbeat.

BC (and Tor) will be brought down by the US govt whenever they feel the time is right.

You are speaking from personal and emotional investment. You will be proved wrong I'm afraid.
Click to expand...

And you don't realise there is already open source technology with absolutely FUCK ALL to do with tor selling drugs designed by people who are already (and always have been weary of all this)

There are people building decentralised browsers that have been tested, people who can be trusted

I do not trust tor. But I do know a VPN to the router to tails is all most vendors use. Pgp and tumbling services to clean the btc sell on local bitcoin. You guys all think it's far more complicated than it is.

I think the current way the markets are will last for another 5-10 years before we see a truly fully operational decentralised browser, then it will be interesting to see does the west pull a north Korea and ban the internet?

Bitcoin plummeted 31% today. Dumped have a look.

I bet now is a good time to be holding some monero.

It's all a matter of how much time do you want to pay attention watching what's going on. One of my parents has a master's degree in accounting finance and economics. They agree the whole cryptocoin game is unlike any normal investment you will ever come across. I have made money and lost money investing but this time I saw the price was going to plummet and spent 250 worth of coin on what I paid 180 for.

I tend to gamble more on the alt coins. But ofcourse I like gambling. To me it's not about buying drugs. :)
 
I don't think it's about buying drugs to the FBI/CIA either. It is, however, an unfortunate by-product of what consequences there will be.

Nobody needs to ban the internet. They just need to monitor the current currencies and invent alternatives. More easily trackable ones.

I think 5-10 years is highly optimistic but whatever. I also don't think drugs are the number 1 priority to be stopped right now. LE have bigger fish to fry. But don't be surprised if drug dealers get caught up in it.
 
Well, if we're talking disruptive technologies, then a fully peer-to-peer ad hoc networking system featuring full end-to-end encryption and adaptive multipath routing would certainly qualify. Most of the bits are already there, and available as Open Source Code. It just all needs putting together with the right fastenings, and sooner or later somebody is going to do that -- and most importantly, make it easy to use; because the ugly truth is, that is all anybody is bothered about. But it is inevitable. It can't not happen, and it can't be stopped once it does happen.
 
I would have thought it would be somewhat obvious the next development in the market game has got to be an open source end to end decentralised job.

Turns out in general you guys agree. Not as stupid as I thought after all :)

And SHM yes I took do see the current model lasting anymore than 5 years as optimistic, but people are inherently lazy, especially the ones buying their tenners worth of gear off the markets. You'd be surprised how many vendors have to refuse orders because the clients don't even use PGP, I believe some of the markets actually had to build it in! Ofcourse goes without saying I'd advise people do it themselves and don't trust that the markets doing it.

I'd also be, given the FBI involvement to a great scale in SR1 and the whole PoM thing, be shocked of the CIA hasn't caught on and made their own fully functional market yet as a covert operation. Not to bust druggies but the guy who runs the current biggest market has made in vast excess of $100million in the past year alone. Drug markets are big business now they charge 5% commission instead of Ross's 1%, it also makes the likelihood of exit scamming kind of pointless as they make more in a week than an exit scam would make. Only likely to happen if they have to close operations due to security issues or some Russian hacker. It's always the Russians obviously ;)
 
Yes i think the whole crypto currency thing will get squashed fairly easily and in the not to distant future. It simply poses to big a threat with the main benefits going to organised crime and terrorism. Those who say it cant be stopped are not thinking straight. A government can easily regulate so you cant buy the coins anonymously anymore. Simply make all financial services require ID for any deposit. Bitcoin will cease to exist unless governments can control it.
 
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