GG SEAL WITH CLUBS - THIS IS JUST THE START

[cmoney]

I ALWAYS SAID THAT MICON'S SITUATION SUCKED. IF BITCOINS OR SEALS BLEW UP HE WOULD MOST LIKELY NOT BENEFIT FROM IT BECAUSE IT WOULD GET THE ATTENTION OF THE GOVERNMENT. THIS MEANT HE WOULD ALWAYS NEED TO STAY UNDER THE RADAR. BEING UNDER THE RADAR OBV LIMITS GROWTH POTENTIAL/REVENUE. NOT TO MENTION THERE IS ALWAYS A RISK OF BEING MADE AN EXAMPLE OF.

LOOKS AS IF BITCOINS HAVE GOTTEN THE ATTENTION OF THE GOVERNMENT AND I IMAGINE THE SCRUTINY WILL ONLY INCREASE:

http://arstechnica.com/tech-policy/2...undering-laws/

ALSO LETS NOT FORGET SEALS ITSELF IS COMPLETELY ILLEGAL IMO. MICON IF YOU READ THIS DUMP IT. NOT WORTH IT

[Dan Druff]

There is no way the government will ignore bitcoins in the long term, or even in the medium term.

Bitcoins create legal issues in the US for various reasons:

1) Usage of trade of illegal drugs. Right now most people are just using this to buy recreational amounts, but eventually they could be utilized in larger drug transactions between dealers, replacing the "suitcase full of cash".

2) Money laundering

3) Funding of terrorism. Right now it is very difficult to get $10,000+ into the US from abroad without potential scrutiny. Bitcoins allow this to be circumvented.

4) Illegal gambling

5) Tax evasion. One could easily shuffle around bitcoins to avoid/delay payment of taxes, and there would be no paper trail.

6) Alternate currency. The US government is very sensitive about any currency or monetary instrument being used to pay debts other than the US dollar. This is why there are such strict regulations against using casino chips to pay for anything outside (or even within) the casino.

With that said, I might actually look into whether bitcoin mining is worth my time/electricity, because it has spiked to such a high level. I am not against bitcoins themselves, and in fact think they can be useful for both small transactions and as a short-term, high-risk investment (that is, get them and sell them quickly after they rise). I think they will continue to rise in value in the near term. They do still carry a large risk to plummet to virtually nothing literally overnight.

[BeerAndPoker]

They will leave Bryan Micon alone in fear of being bombarded by black cocks.

[Hockey Guy]

Is this the first step towards feces striking the rotary oscillator? We'll soon see.

[sonatine]

liberty coins etc

[Shizzmoney]

6) Alternate currency. The US government is very sensitive about any currency or monetary instrument being used to pay debts other than the US dollar. This is why there are such strict regulations against using casino chips to pay for anything outside (or even within) the casino.

This is really the main reason, don't steal from the government (or Federal Reserve)...because it hates competition!

An ECB figure head called BTC a "ponzi". Takes one to know one!

[mulva]

news flash..@ 40 per they've might of already blown up. unless they're the next mattel. and then micon will have the last laugh. i'm pretty sure he doesn't care what anyone thinks regardless. how much more could they blow up?


the fact is, w/o all the forums hate toward micon, most/all of this forum couldn't/didn't want to see the potential of these things...and druff led the charge....shame on most of you.

[Kuntmissioner]

news flash..@ 40 per they've might of already blown up.

Closer to 60/per atm.

[Dan Druff]

news flash..@ 40 per they've might of already blown up. unless they're the next mattel. and then micon will have the last laugh. i'm pretty sure he doesn't care what anyone thinks regardless. how much more could they blow up?


the fact is, w/o all the forums hate toward micon, most/all of this forum couldn't/didn't want to see the potential of these things...and druff led the charge....shame on most of you.

I never said they wouldn't increase in the short term, though I admit I'm surprised how high they've soared recently.

I said that they are not going to fly under the government's radar forever, and when the government DOES take action, there will be a crash.

It's actually very similar to online poker before Black Friday. I used to have endless debates with people who insisted that the US government couldn't touch Stars or Tilt. I said, "I don't know when it will happen, but at some point they will get shut down, especially when the government wants to legalize US-based rooms."

This is even more vulnerable than online poker rooms, because bitcoin value is market-based. At least with the online poker rooms, they can theoretically still exist if they get a domain that the US can't touch and somehow keep finding shady processors for their payments in and out.

Let's say you have 100 bitcoins today and they're worth $53 each.

Let's say the government takes some kind of major action against MtGox.

Are you just going to sit on your coins when you hear about this, or are you going to want to unload them ASAP?

You are going to want to unload them before their value plummets to 2 cents each, and everyone else will have the exact same idea.

LOL @ anyone who thinks that the value will survive any kind of serious government intervention.

[anonamoose]

news flash..@ 40 per they've might of already blown up. unless they're the next mattel. and then micon will have the last laugh. i'm pretty sure he doesn't care what anyone thinks regardless. how much more could they blow up?


the fact is, w/o all the forums hate toward micon, most/all of this forum couldn't/didn't want to see the potential of these things...and druff led the charge....shame on most of you.

I never said they wouldn't increase in the short term, though I admit I'm surprised how high they've soared recently.

I said that they are not going to fly under the government's radar forever, and when the government DOES take action, there will be a crash.

It's actually very similar to online poker before Black Friday. I used to have endless debates with people who insisted that the US government couldn't touch Stars or Tilt. I said, "I don't know when it will happen, but at some point they will get shut down, especially when the government wants to legalize US-based rooms."

This is even more vulnerable than online poker rooms, because bitcoin value is market-based. At least with the online poker rooms, they can theoretically still exist if they get a domain that the US can't touch and somehow keep finding shady processors for their payments in and out.

Let's say you have 100 bitcoins today and they're worth $53 each.

Let's say the government takes some kind of major action against MtGox.

Are you just going to sit on your coins when you hear about this, or are you going to want to unload them ASAP?

You are going to want to unload them before their value plummets to 2 cents each, and everyone else will have the exact same idea.

LOL @ anyone who thinks that the value will survive any kind of serious government intervention.

wouldn't be surprised if it was artificially blown up by several groups trying to make bank and then crash it.

[sonatine]

I never said they wouldn't increase in the short term, though I admit I'm surprised how high they've soared recently.

I said that they are not going to fly under the government's radar forever, and when the government DOES take action, there will be a crash.

It's actually very similar to online poker before Black Friday. I used to have endless debates with people who insisted that the US government couldn't touch Stars or Tilt. I said, "I don't know when it will happen, but at some point they will get shut down, especially when the government wants to legalize US-based rooms."

This is even more vulnerable than online poker rooms, because bitcoin value is market-based. At least with the online poker rooms, they can theoretically still exist if they get a domain that the US can't touch and somehow keep finding shady processors for their payments in and out.

Let's say you have 100 bitcoins today and they're worth $53 each.

Let's say the government takes some kind of major action against MtGox.

Are you just going to sit on your coins when you hear about this, or are you going to want to unload them ASAP?

You are going to want to unload them before their value plummets to 2 cents each, and everyone else will have the exact same idea.

LOL @ anyone who thinks that the value will survive any kind of serious government intervention.

wouldn't be surprised if it was artificially blown up by several groups trying to make bank and then crash it.

honestly this is the only plausible explanation.

[Corrigan]

wouldn't be surprised if it was artificially blown up by several groups trying to make bank and then crash it.

honestly this is the only plausible explanation.

There's been an exponential increase in interest/news coverage of this over the past year. Seems like its just market forces and more ppl coming on board in the past 3-6 months. I know several local food carts who now take bitcoins.

[The_PHA]

Here are the fucking cliff notes:

Never mess with the Feds. Ever.

They move slow, but when they strike it's without mercy. Good luck mycon, and I intentionally misspelled your name.

[donkeykilla]

news flash..@ 40 per they've might of already blown up. unless they're the next mattel. and then micon will have the last laugh. i'm pretty sure he doesn't care what anyone thinks regardless. how much more could they blow up?


the fact is, w/o all the forums hate toward micon, most/all of this forum couldn't/didn't want to see the potential of these things...and druff led the charge....shame on most of you.

[sonatine]

honestly this is the only plausible explanation.

There's been an exponential increase in interest/news coverage of this over the past year. Seems like its just market forces and more ppl coming on board in the past 3-6 months. I know several local food carts who now take bitcoins.

the thing is, speculation and promotion, market forces... these are not simply unrefined forms of profit. how did bitcoins go from being worth $4 to $55 in such a short period of time? they are currently borderline useless beyond the grey market.

my question, phrased differently, is *why* is bitcoin at this price? it just doesnt make sense to me. i dont think its at all far fetched to say these things are being artificially inflated.

[cmoney]

There's been an exponential increase in interest/news coverage of this over the past year. Seems like its just market forces and more ppl coming on board in the past 3-6 months. I know several local food carts who now take bitcoins.

the thing is, speculation and promotion, market forces... these are not simply unrefined forms of profit. how did bitcoins go from being worth $4 to $55 in such a short period of time? they are currently borderline useless beyond the grey market.

my question, phrased differently, is *why* is bitcoin at this price? it just doesnt make sense to me. i dont think its at all far fetched to say these things are being artificially inflated.

Maybe Fed artificially driving up the price using tax payer money and then will crash it when they feel the time is right.

Pretty easy way to get rid of a problem you dont want.

[PLOL]

I would like to play the 2 bitcoin what have you on Sunday on SWC. So if you have spare chips laying around, PM me and I'll offer you a fair price and send it to your face on paypal.

[Corrigan]

my question, phrased differently, is *why* is bitcoin at this price? it just doesnt make sense to me. i dont think its at all far fetched to say these things are being artificially inflated.

Because the supply stock is fairly fixed. An increase in demand/use will ratchet up the price fast. The makers should have made the supply increase faster

[Corrigan]

And I am also sure there has been a decent amount of just pure speculation on these things.

[The_PHA]

the thing is, speculation and promotion, market forces... these are not simply unrefined forms of profit. how did bitcoins go from being worth $4 to $55 in such a short period of time? they are currently borderline useless beyond the grey market.

my question, phrased differently, is *why* is bitcoin at this price? it just doesnt make sense to me. i dont think its at all far fetched to say these things are being artificially inflated.

Maybe Fed artificially driving up the price using tax payer money and then will crash it when they feel the time is right.

Pretty easy way to get rid of a problem you dont want.

I personally think the Fed will assign a trainee to this case. Guessing Micon will get probation