Official CryptoCurrency Thread (Bitcoin, Litecoin, Ethereum & More)

[unit321]

You don't know what your talking about.

https://en.bitcoin.it/wiki/Trade

There is a list of thousands of places to spend bitcoin. Also big commerce has given the ability for 40k clients to take bitcoin.
I can find anything I want right now to purchase with bitcoin.

Silk Road closed and the price went up. Silk road was the foundation. Now we have real start ups. Real business. Major investors.

Exactly. Before bitcoin, people who launder money put their money into real businesses, restaurants, stores. etc. No loans, just use the dirty money to fund operations and expenses. Sales brings in clean money.
So with all these "legitimate" businesses taking in bitcoin, they are really a front to launder drug money, just like the Italian mafia pizzarias. A tiny pizzaria making $20,000 to $30,000 a month in sales? Owner driving a Ferrari? Two plus two ain't adding up.

 

[irishfury]

Exactly. Before bitcoin, people who launder money put their money into real businesses, restaurants, stores. etc. No loans, just use the dirty money to fund operations and expenses. Sales brings in clean money.
So with all these "legitimate" businesses taking in bitcoin, they are really a front to launder drug money, just like the Italian mafia pizzarias. A tiny pizzaria making $20,000 to $30,000 a month in sales? Owner driving a Ferrari? Two plus two ain't adding up.

Yeah over 100,000 vendors laundering money. Do you realize how dumb that sounds? Do you realize they have been people laundering the US dollar for 70 years.

Real business like https://www.bitcoinstore.com/ that store does over 500,000 dollars in sales per month.

 

[unit321]

Yeah over 100,000 vendors laundering money. Do you realize how dumb that sounds? Do you realize they have been people laundering the US dollar for 70 years.

Real business like https://www.bitcoinstore.com/ that store does over 500,000 dollars in sales per month.

Well, no one is going to come out and admit they are a front for laundering money.

 

[irishfury]

Well, no one is going to come out and admit they are a front for laundering money.

Your just neglecting reality and not doing research. Plenty of legitimate business have bitcoin start-ups. The facebook twins have invested 12 Million dollars into bitcoin. I'm sure people use it to Launder money just like people use the Euro, Yin, Bangladeshi Taka and the dollar dollar bill are used to launder money.

People use the dollar bill to sniff cocaine does that make it any-less valuable as a currency? More and more adoption is happening. Yandex is now offering a VPN service in bitcoin. Which is like Google accepting it.

 

[unit321]

Your just neglecting reality and not doing research. Plenty of legitimate business have bitcoin start-ups. The facebook twins have invested 12 Million dollars into bitcoin. I'm sure people use it to Launder money just like people use the Euro, Yin, Bangladeshi Taka and the dollar dollar bill are used to launder money.

People use the dollar bill to sniff cocaine does that make it any-less valuable as a currency? More and more adoption is happening. Yandex is now offering a VPN service in bitcoin. Which is like Google accepting it.

You don't know all the legit businesses out there are fronts for money laundering. Bitcoin simplifies the laundering process.

You have a seller selling dope for a week and he gets 100,000 bitcoins from drug sales in Silk Road. Then, the dealer finds a retail store that accepts bitcoin. He takes the 100,000 bitcoins and buys electronics. Then, he sells it for cash. That's it, he has his money laundered. The retail electronics store is clean of laundering too.

 

[irishfury]

You don't know all the legit businesses out there are fronts for money laundering. Bitcoin simplifies the laundering process.

You have a seller selling dope for a week and he gets 100,000 bitcoins from drug sales in Silk Road. Then, the dealer finds a retail store that accepts bitcoin. He takes the 100,000 bitcoins and buys electronics. Then, he sells it for cash. That's it, he has his money laundered. The retail electronics store is clean of laundering too.

I understand what laundering means. To think 50k+ business accepting bitcoin is money laundering is juvenile.

 

[unit321]

I understand what laundering means. To think 50k+ business accepting bitcoin is money laundering is juvenile.

Well if you understand what laundering means, then you can see why laundering it via bitcoin is even more attractive to drug dealers. Less connections for the IRS to make. Of course, you "Mr. Globo Brain" would have thought of that already.

I didn't say all 50,000 were into it. If there was no outlet for bitcoin to cash, it wouldn't have grown. That's what is pushing growth. Drug dealers need to clean millions. bitcoin makes that easier. Silk Road is tip of the iceberg.

 

[irishfury]

Well if you understand what laundering means, then you can see why laundering it via bitcoin is even more attractive to drug dealers. Less connections for the IRS to make. Of course, you "Mr. Globo Brain" would have thought of that already.

I didn't say all 50,000 were into it. If there was no outlet for bitcoin to cash, it wouldn't have grown. That's what is pushing growth. Drug dealers need to clean millions. bitcoin makes that easier. Silk Road is tip of the iceberg.

Cool glad you figured this all out. You should stick with being a detective cause economics is clearly your weak point. You should also look into FinCen. I'm sure your already quite educated in FinCen regulations since your such a swell detective.

Whats pushing growth is the fact its becoming mainstream and people become more educated about bitcoin and more press on bitcoin.

 

[unit321]

Cool glad you figured this all out. You should stick with being a detective cause economics is clearly your weak point. You should also look into FinCen. I'm sure your already quite educated in FinCen regulations since your such a swell detective.

I already did. They can't touch businesses operating outside of the US. That's what makes Silk Road type operations even more attractive.

 

[irishfury]

I already did. They can't touch businesses operating outside of the US. That's what makes Silk Road type operations even more attractive.

Cool please explain to me how Bitcoin has been around for 4 years. With silk road and other launders as you say operating and the growth has increased just in the last 6 months? Is that launders and silke road? Or the public and merchants taking it serous?

Now use some common sense and logic and you will derive the correct answer.

 

[unit321]

Cool please explain to me how Bitcoin has been around for 4 years. With silk road and other launders as you say operating and the growth has increased just in the last 6 months? Is that launders and silke road? Or the public and merchants taking it serous?

Now use some common sense and logic and you will derive the correct answer.

You are naive, but it is only because of your ignorance.
Take a look at how many people were very cautious. Buying less than 50 bitcoins. It was a high stake gamble and a lot of people did not want to drop a considerate amount of money into an unknown form of money or stock in a relatively new form of business.
It was not until huge volumes of bitcoin starting moving around that people were getting interested in it. Who is moving a ton of bitcoin? Drug dealers. Where is the money going, legit business who can turn it over into real cash. Happens in the real world with real cash. Now, with less traceable money, it's even more attractive. When your money can get traced by the IRS, FBI, or DEA, it gets seized. If you have a dealer using bitcoin to buy product and selling it for cash, it is harder to trace the cash back to the drugs. The cash and property (house, cars, computers) can't get seized if it can't get linked.

I won't go further into the deeper details.

 

[irishfury]

You are naive, but it is only because of your ignorance.
Take a look at how many people were very cautious. Buying less than 50 bitcoins. It was a high stake gamble and a lot of people did not want to drop a considerate amount of money into an unknown form of money or stock in a relatively new form of business.
It was not until huge volumes of bitcoin starting moving around that people were getting interested in it. Who is moving a ton of bitcoin? Drug dealers. Where is the money going, legit business who can turn it over into real cash. Happens in the real world with real cash. Now, with less traceable money, it's even more attractive. When your money can get traced by the IRS, FBI, or DEA, it gets seized. If you have a dealer using bitcoin to buy product and selling it for cash, it is harder to trace the cash back to the drugs. The cash and property (house, cars, computers) can't get seized if it can't get linked.

I won't go further into the deeper details.

Your point? Still don't understand what your trying to say. Bitcoin been around 4 years? I know it kills you that everything I have saids been true. So now your trying to connect any dots you can. Cool so people can launder with bitcoin. Just like they can with litecoin or any other digital currency and any currency since the dawn of time. Merchants can abide by FinCen regulations here in the states.

Naive I'm not the one who thought that the dollar was backed by Fort Knox gold lol. So really we can just agree disagree because if you think a 30-40% ROI in 30 days is a bad investment we will never see eye to eye.

 

[unit321]

Your point? Still don't understand what your trying to say. Bitcoin been around 4 years? I know it kills you that everything I have saids been true. So now your trying to connect any dots you can. Cool so people can launder with bitcoin. Just like they can with litecoin or any other digital currency and any currency since the dawn of time. Merchants can abide by FinCen regulations here in the states.

Again, bitcoin merchants that are involved in money laundering aren't in the US, so the transactions that are performed are not tracked by FinCen. It's obvious you are an everyday person, and you haven't been exposed to the law enforcement side of things. I understand if you don't see things like I do.
Like I said, I'm not going into further details about money laundering and illegal narcotics.

Naive I'm not the one who thought that the dollar was backed by Fort Knox gold lol. So really we can just agree disagree because if you think a 30-40% ROI in 30 days is a bad investment we will never see eye to eye.

30-40% was not a sure thing. The speculation made it grow. It's value is being pushed up by speculation. You can't predict that, unless you are an inside trader.

 

[ExodusNirvana]

Damn...the shyt just hit 300. Shoulda dropped liked $1000 and hoped for the best but again this shyt is way to iffy for me.

I been here from the START and it could all come crashing down tomorrow. That's the shyt that scares me.

Irsih probably made some GUAP in the past two months though

 

[irishfury]

30-40% was not a sure thing. The speculation made it grow. It's value is being pushed up by speculation. You can't predict that, unless you are an inside trader.

Just like the stock market.