[Chugalug] Bitcoin Regulation

Jon Stanford jbirdvegas at aokp.co
Mon Aug 12 19:12:38 UTC 2013

Haha uea when they say regulate all I hear is we want to better track the currencies usage. I bet they try to track the "meta-data" (read everything they possibly can track) ie who spends, who received, physical location, how many BCs is transfered, try to links that data to real people and then also analyze that users other financial transactions... All under the guise of preventing drug/terrorist money from changing hands.

Now a days all the government has to do is say terrorism and they instantaneously have the right to treat law abiding citizens in the same manner as confirmed terrorists. Almost defeats the original intent of bit coins.

Dave Brockman <dave at brockmans.com> wrote:

>Hash: SHA1
>On 8/12/2013 2:20 PM, David White wrote:
>> This looks interesting, especially given the recent discussions on
>>  Chugalug regarding Bitcoin - 
>> http://www.forbes.com/sites/kashmirhill/2013/08/12/every-important-person-in-bitcoin-just-got-subpoenaed-by-new-yorks-financial-regulator/
>addition to rooting out illegal activity, the department says it
>wants to make sure Bitcoin company customers? funds are ?safe and
>sound,? expressing concern about consumer complaints ?about how
>quickly virtual currency transactions are processed.?
>WTF?  They want to "regulate" virtual currencies.  They can't regulate
>P2P virtual currency.  I might need to make popcorn.... this might get
>good (in a really bad, B-Movie type of way)
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