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A comment on Google: Financial Embargo Of WikiLeaks Shows How To Deal With Piracy.

Re:Google: Financial Embargo Of WikiLeaks Shows How To Deal ... by jerguismi on Thursday November 17, 2011 @11:15AM (#3248095)
Actually, this is great. If visa/mastercard/banks etc will start blocking heavily every shady business, these businesses will have to move to bitcoin and other non-goverment-controlled currencies/payment systems. In the long run this benefits us all.
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Re:Google: Financial Embargo Of WikiLeaks Shows How To Deal ... by VMG on Thursday November 17, 2011 @11:28AM (#3248153)
... until SOPA Reloaded kills Bitcoin
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Re:Google: Financial Embargo Of WikiLeaks Shows How To Deal ... by thebigshane on Thursday November 17, 2011 @01:07PM (#3248542)
I think this is interesting... how would they be able to do so? They can make it "illegal" I guess but there isn't a centralized entity to target. Right?
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Re:Google: Financial Embargo Of WikiLeaks Shows How To Deal ... by ansy on Thursday November 17, 2011 @02:21PM (#3248851)
These sites that could use Bitcoin to evade the financial embargo would likely break US money laundering laws. If not in the existing form then an easily modified one.

Also, eventually coins need to turn into real money to pay rent, buy food, pay for electricity. If your bank account is frozen that can be a big inconvenience to doing those things. There would have to be some kind of BitCoin for physical cash exchanges and you'd have to pay everything in cash. Not a very scalable solution for even medium sized operations.

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Re:Google: Financial Embargo Of WikiLeaks Shows How To Deal ... by GHFigs on Thursday November 17, 2011 @01:41PM (#3248697)
I don't think every "shady business" necessarily "benefits us all".
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Re:Google: Financial Embargo Of WikiLeaks Shows How To Deal ... by jerguismi on Thursday November 17, 2011 @02:43PM (#3248941)
I was half-joking, but the idea would be that through these shady businesses bitcoin and other alternative currencies would flourish and we would finally be free from state-controlled currencies.
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