Well that basically summed it up. Appreciate it.
Well that basically summed it up. Appreciate it.
Of all the money e'er I had, I spent it in good company
DOJ is just a money tree shakedown, the FBI does criminal investigations
if whomever owns Bitcoins was smart they would shut down immediately and hope the FBI goes away
Originally Posted by tony bagadonuts
Wouldn't the obvious answer to this be for the middlemen to similarly decentralize? Perhaps the U.S. government could exert enough pressure and wield its power to shut down MtGox (a Japanese company, I believe, with no non-internet U.S. presence). But what if MtGox and the like were themselves decentralized (kinda like UB snap-moving to Panama when things got too hot in Costa Rica)? Properly decentralized, could the U.S. really shut down enough of these middlemen in cyberspace fast enough to really put a dent in (much less "shut down") the bitcoin market?
There is a lot of pressure the US can put on foreign companies if they really want to.Wouldn't the obvious answer to this be for the middlemen to similarly decentralize? Perhaps the U.S. government could exert enough pressure and wield its power to shut down MtGox (a Japanese company, I believe, with no non-internet U.S. presence). But what if MtGox and the like were themselves decentralized (kinda like UB snap-moving to Panama when things got too hot in Costa Rica)? Properly decentralized, could the U.S. really shut down enough of these middlemen in cyberspace fast enough to really put a dent in (much less "shut down") the bitcoin market?
The problem is that people panic easily, and if it becomes clear that the US government is making moves against bitcoin middleman sites (the ones enabling people to cash out), everyone will rush to sell their bitcoins, and the value will drop to almost nothing.
The value tanked just because of a hacking incident, so imagine what will occur if the government makes a push to stop this whole thing.
What actually dictates the price/value of a bitcoin?
Of all the money e'er I had, I spent it in good company
The price of a bitcoin is dictated what people are willing to pay for them. It's very similar to the price of a stock.
Right now, bitcoins are around $5/each, and that value has been stable for awhile because nothing significant has happened (positive or negative) for bitcoins in awhile.
However, if a bust occurs (notice MtGox is a .com site, meaning the DOJ could easily seize it and put up their infamous graphic), everyone will panic and want to sell, and the value will fall off a cliff.
Its also been speculated that due to energy costs mining bit coins can not be profitable at much lower values. Depending on your state 5 dollars can be nearly break even for mining.The price of a bitcoin is dictated what people are willing to pay for them. It's very similar to the price of a stock.
Right now, bitcoins are around $5/each, and that value has been stable for awhile because nothing significant has happened (positive or negative) for bitcoins in awhile.
However, if a bust occurs (notice MtGox is a .com site, meaning the DOJ could easily seize it and put up their infamous graphic), everyone will panic and want to sell, and the value will fall off a cliff.
http://www.bitcointrading.com/forum/...hp?topic=260.0
Micon's poker site, "Seals With Clubs" is listed in here.
Of all the money e'er I had, I spent it in good company
Next week on DD radio: Ecigs, Dutch Boyd, Ralph from Fat burger, Gus from BitBrew, and Pokerti Dan to talk about some laws and shit. And... much much moar!!!
Of all the money e'er I had, I spent it in good company
"we're here for Bryan Micon"
"what for?"
"bitcoins are illegal and you're using them for poker"
" uh uh. I'm a lawyer and I say they're legal, but I can't tell you why
"I fucking told you so Bryan
haha pretty good.
Of all the money e'er I had, I spent it in good company
"Fucking shit 7 to 12 years with no weed. Martha, will you wait for me?
"Of course I will baby"
"Martha is Bryan gone to prison yet?"
"Cool, want to come over and blow me?"
"Ok, I'll be waiting"
"Can I jack off in the corner while you two fuck?"
"Guess what Bryan"
Martha and Micon could pass for brother and sister.
Wow Martha's hot. Micon's got game.
Last edited by FPS_Russia; 05-10-2012 at 03:05 PM.
You know he'll always keep an ear, I mean eye out for you.
Of all the money e'er I had, I spent it in good company
Finally I don't have that retarded 5th wheel smothering me and following me like an Asian housewife.
"we're here for Bryan Micon"
"what for?"
"bitcoins are illegal and you're using them for poker"
" uh uh. I'm a lawyer and I say they're legal, but I can't tell you why
"I fucking told you so Bryan
"we're here for Bryan Micon"
"what for?"
"bitcoins are illegal and you're using them for poker"
" uh uh. I'm a lawyer and I say they're legal, but I can't tell you why
"I fucking told you so Bryan
This deserves some "Look into the Future" love
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