DHS targets Bitcoin, shuts down Dwolla/Mt. Gox

[midnight rambler]

http://beforeitsnews.com/alternative/2013/05/bitcoin-panic-department-of-homeland-security-shuts-down-dwolla-payments-of-mt-gox-video-2648278.html

[madfranks]

Well, my first question is "why?", and apparently they don't know either:


However, as of this time we have not been provided with a copy of the court order and/or warrant, and do not know its scope and/or the reasons for its issuance.

So why did DHS do this? I'm sure there is no good reason, they are simply scared and are using their power to try and nip this threat in the bud. Tyrants.

[Hitch]

Just a matter of time before DHS unplugs bitcoin.

I hear that sound of an old video game winding down before the words Game Over appear.

poof its gone.

[Ares]

Well, my first question is "why?", and apparently they don't know either:



So why did DHS do this? I'm sure there is no good reason, they are simply scared and are using their power to try and nip this threat in the bud. Tyrants.

Until Bitcoins / Litecoins become more available the exchanges will be more vulnerable and susceptible to attacks such as these. Just proves that bitcoins are a threat just like we knew they were to them and their preconceived power.

[Twisted Titan]

What are they trading for now......now that uncle sam is on thier ass?

[madfranks]

Just a matter of time before DHS unplugs bitcoin.

How will they do that?

[sirgonzo420]

What are they trading for now......now that uncle sam is on thier ass?

$115

[Ares]

Just a matter of time before DHS unplugs bitcoin.

I hear that sound of an old video game winding down before the words Game Over appear.

poof its gone.

There really isn't a way to "unplug" bitcoins. What the fed.gov has done is prevented a large segment of the bitcoin community from cashing out or buying in if you're new and want to purchase some. Bitcoins themselves are still traded for goods and services around the world in spite of this. But they are attempting to remove the options for funding. How long that works is anyone's guess. My guess is someone will setup an offshore money transfer server. Dwolla was just told not to send money to mtgox. Ok, set up a server in mexico, canada, or hell even somewhere in asia. Market it as an asian / american currency exchange. Send dollars there, convert to yuan, send money to mtgox. Yeah it's a run around, but also skirts their ability to stop it.

Also what's interesting is that they used the DHS to cut the money transfers to MtGox. MtGox will most likely never see any formal complaint letter as they are outside of DHS's jurisdiction. They went after Dwolla and told them no more transfers to mtgox. Risking their business license dwolla complied. They are a small start up and don't have the financial resources to take on the gov. Not many businesses do.

[mamboni]

https://fbcdn-sphotos-b-a.akamaihd.net/hphotos-ak-prn1/32381_462822050478328_555892063_n.jpg

[Cebu_4_2]

http://youtu.be/pBOLhvuGcPE

http://youtu.be/pBOLhvuGcPE

[madfranks]

$115

$125.50

[7th trump]

Until Bitcoins / Litecoins become more available the exchanges will be more vulnerable and susceptible to attacks such as these. Just proves that bitcoins are a threat just like we knew they were to them and their preconceived power.

I doubt they are a threat as you may think they are.
Problem is there isn't a way to plug the bitcoin in with the current Social Security "reporting" requirements.
Beings its all digital the government doesn't have a digital way for bitcoin to operate in commerce.
There's no way for the mining PC to be regulated.

The government doesn't give a rats ass about someone not willing to participate in Social security, but if someone does and they are mining bitcoins the government wants its share.
Mining bitcoins from cyber space is really just capital gains......you have to report that income.
You don't defraud the government when you are accepting benefits from the government.

[Jewboo]

Mining bitcoins from cyber space is really just capital gains......you have to report that income.



http://www.everythingzoomer.com/wp-content/uploads/2013/04/my_precious_bitcoin.jpg

That's really all this is about. Ignore their "Freedom" and "Liberty" pretense about sticking it to the evil FED. At some point everybody must exchange their Bitcoin for a paper FED dollar...lol.

http://www.americananglersfishing.com/Smileys/default/shrug.gif

[madfranks]

Problem is there isn't a way to plug the bitcoin in with the current Social Security "reporting" requirements.

Nobody who uses bitcoin gives a shit about social security.

[vacuum]

That's really all this is about. Ignore their "Freedom" and "Liberty" pretense about sticking it to the evil FED. At some point everybody must exchange their Bitcoin for a paper FED dollar...lol.

http://www.americananglersfishing.com/Smileys/default/shrug.gif

For a lot of people, this is what it's all about:

http://images.bwbx.io/cms/2013-04-04/view_cyprus15__01__630x420.jpg

[vacuum]

Google searches for cyprus:

http://i.imgur.com/MiteYMQ.png









Spot price of bitcoin:
http://i.imgur.com/giK7tIb.png

[7th trump]

Nobody who uses bitcoin gives a shit about social security.

Yes I know that, if bitcoin is going to be a medium of exchange then the government wants its fair cut. By getting its fair share it'll need to be regulated.
As it stands bitcoin is taking hold and currently theres no way to regulate (tax) the bitcoin.

All I'm saying saying about Social Security is its the way the government has gotten around the restrictions of the constitution. They implemented Social Security as a means for the population to volunteer themselves into taxation.
Bitcoin , like FRNs the government could careless about as a medium of exchange. But if/when the bitcoin takes off, like its doing, some moronic people are going to be wanting to be paid in bitcoin instead of frns which the 26usc 3102 SS imposition will need to be deducted along with the 26usc 3402 federal income tax imposition from their paycheck.
Right now theres now system in place to accommodate such cyber transactions.

Its the morons who the government is accommodating and screwing it all up by these morons wanting government benefits.