Silk Road forums

Discussion => Security => Topic started by: Joey Terrifying on May 29, 2013, 12:02 am

Title: Liberty Reserve shut down by US authorities
Post by: Joey Terrifying on May 29, 2013, 12:02 am
did i miss the thread where people are talking about this?  it was front page news on BBC this morning...go look it up if you haven't heard.

some fear mongering writers are saying this means bitcoin could be next.  i can't imagine they could stop bitcoin, but i imagine they could go to great lengths to make it nearly impossible to buy and sell them online.

thoughts?
Title: Re: Liberty Reserve shut down by US authorities
Post by: Miah on May 29, 2013, 01:00 am
Yeah big thread already started in this forum(first page) if I'm not mistaken. Personally I think for them(Government) they are going to feel like today was a big win for them. I'm sure they'll all go out for beers after and smack each others asses. I may be weird when I say this but I think everytime like this happens it's a great time to expand our resources and the way we do things. If we look at the whole of Silk Road and BitCoin the glaring weakness is the cashing out aspect. I've been sitting and wondering how could someone make a de-centralized banking entity. I have a theories but they're way off and probably not possible.
Title: Re: Liberty Reserve shut down by US authorities
Post by: Jack N Hoff on May 29, 2013, 02:22 am
did i miss the thread where people are talking about this?

There are a couple threads around.  Here is one dkn255hz262ypmii.onion/index.php?topic=165492
Title: Re: Liberty Reserve shut down by US authorities
Post by: Capslockian on May 29, 2013, 02:47 am
It is a slippery slope, man. The US government has an extreme hatred for everything that is not the dollar. Notice how the CND and the Euro's value get closed to the USD's every day? Fortunately they cannot stop bitcoin, even if they wanted to.
Title: Re: Liberty Reserve shut down by US authorities
Post by: kmfkewm on May 29, 2013, 02:51 am
Wow they are only two or three years behind the latest trends, maybe in three more years when we are using NextCoin they will shut down Bitcoin somehow.
Title: Re: Liberty Reserve shut down by US authorities
Post by: kmfkewm on May 29, 2013, 02:54 am
Seriously feds, pretty consistent pattern. I can tell what you are going to go after next, because it is what I was using three years ago. It is weird, like you are always trying to catch up almost lol.
Title: Re: Liberty Reserve shut down by US authorities
Post by: Miah on May 29, 2013, 03:31 am
Quote
Seriously feds, pretty consistent pattern. I can tell what you are going to go after next, because it is what I was using three years ago. It is weird, like you are always trying to catch up almost lol.

Well that's pretty true but the fact is the more popular the Bitcoins get and the more coverage it gets the more the Feds will get a raging hard on to shut that mother down. From what you see you have two main users of Bitcoins and correct me if I'm wrong but you have us the people that use Bitcoins to buy or sell our drugs and you have the die hard Bitcoin lovers that mine coins and want to uphold the integrity of the Bitcoin. I think the latter group is the more serious threat of the Bitcoin ever demising. It's been proven in the past that a decentralized currency without a regulating body will not be tolerated by the Government. The irony is not lost on me that all these so called 'Democratic states' have nothing Democratic about them.
Title: Re: Liberty Reserve shut down by US authorities
Post by: kmfkewm on May 29, 2013, 05:39 am
Quote
Seriously feds, pretty consistent pattern. I can tell what you are going to go after next, because it is what I was using three years ago. It is weird, like you are always trying to catch up almost lol.

Well that's pretty true but the fact is the more popular the Bitcoins get and the more coverage it gets the more the Feds will get a raging hard on to shut that mother down. From what you see you have two main users of Bitcoins and correct me if I'm wrong but you have us the people that use Bitcoins to buy or sell our drugs and you have the die hard Bitcoin lovers that mine coins and want to uphold the integrity of the Bitcoin. I think the latter group is the more serious threat of the Bitcoin ever demising. It's been proven in the past that a decentralized currency without a regulating body will not be tolerated by the Government. The irony is not lost on me that all these so called 'Democratic states' have nothing Democratic about them.

LR was a centralized target. Shutting Bitcoin down will be like playing whack a mole. They might shut down an exchanger here or there, and then new ones will pop up. But the actual currency will not be shut down, and it is consistent across any new exchangers. LR getting shut down means that the money in LR is gone in a poof, a Bitcoin exchanger being shut down means that it is time for another one to pop up.