How Bitcoin dies

Re:How Bitcoin dies by happywolf on Thursday January 24, 2013 @10:57AM (#5110142)

Anybody please provide a summary? After a long day of work I just can't finish this long post. Yes I know the main conclusion is bitcoin is gonna die. Please fill me in. Thx

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Re:How Bitcoin dies by elux on Thursday January 24, 2013 @11:00AM (#5110163)

Summary:

1: A DOJ indictment is unsealed which names everyone [involved in] BTC/USD exchange, as a criminal defendant.

2: The BTC/USD price falls to 0 and remains there. BTC are permanently worthless.

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Re:How Bitcoin dies by zby on Thursday January 24, 2013 @11:15AM (#5110248)

The crux seems to be: "the defendants knew that BTC were used for organized criminal activity. Therefore, they knew they were transferring money for criminals."

He also claims that: 'Government control (excuse me, "public oversight") of all major monetary transactions is one of the basic attributes of sovereignty in the modern world.' - this also sounds dubious - the money laundering laws are not that old and I don't believe they became 'basic' in that short time span - also a government controlling all transactions is a very totalitarian design.

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Re:How Bitcoin dies by fennecfoxen on Thursday January 24, 2013 @11:11AM (#5110221)

More specifically, the charges behind (1) are predicted to be on money-laundering.

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Re:How Bitcoin dies by walls on Thursday January 24, 2013 @11:01AM (#5110169)

I think you're looking for this -> http://reddit.com/

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Re:How Bitcoin dies by mikemarotti on Thursday January 24, 2013 @11:03AM (#5110181)

How HackerNews Dies.

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