DHS targeting Bitcoin Dwolla mobile payment service

[Tesseract]

DHS has frozen Bitcoin Dwolla mobile payment service. This will be interesting to keep an eye on. Could set an unfortunate precedent.

http://pandodaily.com/2013/05/14/dept-of-homeland-security-freezes-accounts-between-dwolla-and-bitcoin-exchange-mt-gox/

[markpierre]

A US bank account opened by Mt Gox to serve US customers didn't meet some criteria. Offending corporate finance laws in America is something in between rape and murder. Unless you're a bank.
They'll do whatever they can to make it appear evil. Meanwhile it appears the banks have invested in it enough themselves to be able to play the dirty market tricks they enjoy so much. If you can't beat em, join em, and then crash em. I can't verify that. But interestingly Bitcoin is weathering the market games and staying remarkably resilient and solid.

Mt Gox is I believe in Japan. Because of the earlier attacks on their system and servers there are more and more exchanges opening around the world.
It's good to expand things out away from Mt Gox. Seems like all the confrontations are being met with more innovation than worry.
Amazon recently added Bitcoin to their system. That's encouraging news. It's coming mainstream.

[Mulder]

I don't have much faith in bitcoin. It can be easily regulated away...

[markpierre]

I don't have much faith in bitcoin. It can be easily regulated away...

I don't have much faith in humans and their interpretation of 'value'.

But there's a difference in regulation and 'regulating something away' (not sure what that means).
Regulating some of the advantage it has over standard currencies maybe. The only advantages that it seems to have, is the lack of opportunities for parasites in the exchange process. It can't be manipulated by manipulating interest rates. That makes it more valuable. They won't be able to change that. They can make fiat money you convert it to, if YOU want to do that, worthless, but they've already done that. I'd be a lot more concerned about the money you have in the bank. The same things that can make bitcoin worthless or unusable, will make your virtual savings and the money in your wallet unusable anyway. The attraction of bitcoin is the relative safety of it, compared to fiat. It can't be confiscated.

And the invisibility, which is what the money controllers don't like. That does hit them at the core of their psychosis. Currency and markets are controlled unfortunately, by minds that are morally bankrupt. No pun intended. They would see evil everywhere they look. It's only not evil if it benefits them.

That's beyond and apart from regulation. Regulation by definition or intent is to maintain transparency and parity between market participants.
Some regulation isn't necessarily bad. It depends on by who and for what purpose. If it's for fairness and to prevent abuse by people typically exemplified by bankers and traders which is good, or prevent money laundering, which is also fine by me. Or if it's for direct blood sucking by those same examples, and which is our distorted perception of the idea of 'regulation'. Fair enough. Plenty of good reason to distrust them.

It's not recognizable as currency yet according to their own rules of governing currency. Only in the conversion to fiat from sales that it's 'real' in any sense. You don't collect 'dividends'. So they'll have to invent a new dance to include it as such. Legitimizing bitcoins as currency legitimizes Bitcoin and enhances the infrastructure and usability and value.

[indigopete]

I don't have much faith in bitcoin. It can be easily regulated away...

Funny how the less people know about things, the more sure they are about them :)

Some aspects of the Bitcoin economy can and will be regulated (exchange with regular currency) and some cannot (exchange of Bitcoins between peers).

[ThePythonicCow]

DHS has frozen Bitcoin Dwolla mobile payment service.
I changed the title of this thread, and the opening words, from:


DHS targeting bitcoin account
to:


DHS targeting Bitcoin Dwolla mobile payment service
Just trying to be a bit more precise :).

[Mulder]

I don't have much faith in bitcoin. It can be easily regulated away...

Funny how the less people know about things, the more sure they are about them :)

Some aspects of the Bitcoin economy can and will be regulated (exchange with regular currency) and some cannot (exchange of Bitcoins between peers).

Since you ended your admonishment of me with a smiley face, I'm not going to reply defensively. I was thinking of the Utah Data Centre and Internet 2 where there will be no websites for bitcoin to trade with or to pay with. However, when this time comes, there will surely be work-arounds.



I don't have much faith in bitcoin. It can be easily regulated away...

I don't have much faith in humans and their interpretation of 'value'.

But there's a difference in regulation and 'regulating something away' (not sure what that means).
Regulated away refers to making something redundant e.g. old imperial currency in Australia. I think we will have bitcoin, but be unable to use it in the Internet 2.

Here's a story about it:
x58ffqafOso

[Cidersomerset]

I just listened to this article on RT ........

eYxgcV4XK-Q

Published on 18 May 2013



The cyber currency, Bitcoin, has suffered another setback - after
US authorities seized the accounts of its major operator. It now
hampers the process of exchanging Bitcoins, which now stand at
about 120 dollars per unit. So why is the US Government so
worried about the currency, and is the Bitcoin able to beat
traditional currencies? Amir Taaki, a Bitcoin software developer,
says the digital currency gives you total control of your assets,
as there are no middle men involved. READ MORE:

[Paranormal]

I don't have much faith in bitcoin. It can be easily regulated away...

Funny how the less people know about things, the more sure they are about them :)

Some aspects of the Bitcoin economy can and will be regulated (exchange with regular currency) and some cannot (exchange of Bitcoins between peers).

I was upset you implied Mulder didn't know [what he's talking about] regarding bitcoin. Now the biggest bitcoin exchange MT. GOX has suspended $US exchanges for bitcoin - see http://rt.com/business/largest-bitcoin-exchange-suspends-withdrawals-094/

You see the US Govt can control bitcoin in more ways than regulations as I fee the US Govt pressured MT. GOX

By the way 'regulating away' means to make something illegal by creating so much red-tape that it can't be done within a price consumers will pay e.g. cow's milk is virtually impossible to sell in many countries like New Zealand due to red-tape (but it can be given away IMO).

[Nanoo Nanoo]

My first hand experience with Bitcoin and Instawallet is they are not what they say they are.

Bitcoin is a double blind , Bitcoin supporter Max Keiser is a double blind agent. ( much as it breaks my heart to say it , i love the keiser report )

I invested in Bitcoin , sold some to cover my position which means i didnt lose out however when my wallet was hacked and the company that sold them to me couldnt recover them , then told me Instawallet was going to refund the remainder and still to this day some 6 weeks later i have not heard from Instawallet.

I say do not do it.

Instawallet is a fraud agentcy

N
N

[ThePythonicCow]

Bitcoin is a double blind , Bitcoin supporter Max Keiser is a double blind agent
What is the meaning of the term "double blind", as you are using it here?

I am aware of using the term "double blind" to describe clinical trials of drugs in which neither the patient nor the person administering the drug know whether it's the real drug or a placebo.

But that use of the term makes no sense to me here, so I presume you have some other meaning in mind.

[Nanoo Nanoo]

What i refer to when i use this term is

an agent that is meant to " appear " in opposition on the surface but under neath the " opposition " is designed to bolster excuses for the original operatives organisation.

meaning what they are saying seems to contradict however the contradiction is placed to give stage for excuse.

this is political leverage and is used to give the impression of what ever they desire to put into the mainstream. I believe Icke and Jones are in this too.

but this is merely my opinion.

N