US prosecutors move to cash in on $8.5M in seized Bitcoin
apnews.com
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Knowing that anything that was remotely used to aid terrorism in the past has resulted in the hammer flying down as they did with LibertyReserve.
https://www.reuters.com/article/net-us-cybercrime-libertyres...
You don't even need to have terrorism, after 9/11, money laundering has only one purpose in the official's minds.
I think if you are operating a cryptoexchange, blatantly breaking the rules thinking oceans will protect you is a critical mistake, one which never seems to deter people from being thugs.
It's been like this since...2011? 2012?
For illegal drugs, the government is a negative influence because of their propensity to cause massive actual harm to supposedly "correct" small problems (e.g. an addict's third strike resulting in forcing them into a life of crime).
For legal drugs, the government is enforcing the pricing power, and even the price differentiating power (same exact product, different pricing in US vs CA or EU or India, or ...), of the pharma industry, even in cases where it's ludicrous (which is mostly the US being 10x as expensive as somewhere else).
Funny how the government is always in favor of globalism, except where it would actually benefit the lower and middle classes. Having the ability to ship medicine across borders ... there is no more clear-cut case of globalism helping people. Yet the government is fighting hard to make it impossible in that case.
In the case where it's destroying the middle and lower classes, steel imports for example, or subsidized solar panels, the government is fighting to make it continue, and protecting foreign companies and people from the consequences of their cheating (e.g. government intervention preventing Chinese firms from getting sued for fraud after falsifying steel products, essentially selling low grade steel as high grade steel, even in cases where it compromises personal safety. Apparently now the same thing is happening with Japanese firms).
Every single Bitcoin submission, an HN user like you will say this. But it's not true. Payments in bitcoins are sharply increasing. BitPay alone saw their payments volume grow by 328% yearly: https://blog.bitpay.com/bitpay-growth-2017/
There you have it. In an always connected world, it's practically an anachronism to have to wait the "next business day" to send a wire when you missed the cutoff time of the day :-/
Plus: irreversibility of txns, escaping corrupt governments seizing funds, escaping inflation, etc.
https://www.europeanpaymentscouncil.eu/news-insights/insight...
Though apparently no one is using it if you listen to the internet.
There's a massive dichotomy between the cryptographically provable transactions and commentary. Someone is obviously using bitcoin. It's at max capacity.
I believe that's why we've seen article after article lately about all the horrible people using bitcoins, plus scare stories about bubbles and how You'll Lose All Your Money. Concrete legal steps are on the way.
If a government were to really try to shut it down, there would be an immediate drop in crypto-currency value, but if the government was ultimately unsuccessful, the value would rocket up to even higher levels.
Every bitcoin "investor"/gambler makes these tradoffs.
I'm kind of curious to see how this plays out - how far they're willing to go and whether or not, as you say, they're ultimately successful.
best bitcoin next to the ones that come straight from miners
In goes tainted coins, out comes cleam coins
I'm not sure what the legal standard is for this motion though.