Quote Originally Posted by The_PHA View Post
Quote Originally Posted by sonatine View Post

Its a theoretical ceiling of 21M unique bitcoin hashes iirc and I believe that ceiling is the product of a mathematical limitation in the hash generation algorithm, but someone mathy is going to have to yay or nay that definitively.
Regardless, to your point, if a majority of the accounts are from places like Romania, I want no part of this. Eventually people are simply not going to get paid because the spreads are too severe.

DHS will have to get involved, this has laundering written all over it, especially if they see trades from North Korea, Iran, etc... They can easily crush this by forbidding banks from accepting deposits from these web transfer portals.

Like I said, you can easily get this type of action with penny stocks and you know you will get paid. If you got a money truck on these, PAY YOUR 30%, because I guarantee the IRS has already flagged transfers like this.
Oh no question, I was just addressing the 'potentially infinite bitcoins' theory.

But really thats a minor concern. Anyone in the fucking world can open a bitcoin currency exchange site and hijack transactions or cash with zero point zero chance of being penalized. All you have to determine whether or not a site is legit is consumer reputation and review. And what BTC-E did was sit back, rake in their transaction fees, wait for the market to peak, then cash out a bunch of their clients bitcoins. AND PEOPLE ARE STILL EXECUTING TRADES ON THEM RIGHT NOW.