News for hackers. Stuff that matters.
Re:Bitcoin vs. Ben Bernanke by StavrosK on Sunday May 05, 2013 @10:56AM (#5658481)
Yeah, but that's like saying "you can easily launder your cash by using a laundering service".
Re:Bitcoin vs. Ben Bernanke by moe on Sunday May 05, 2013 @03:34PM (#5659457)
No. It's not like saying that at all.

All it means is that you can trivially have any number of wallets and it's up to you how you use them. Same as with cash.

Re:Bitcoin vs. Ben Bernanke by StavrosK on Sunday May 05, 2013 @03:36PM (#5659470)
Except cash isn't trackable. How are you going to do this in a world where undeclared wallets are illegal?
Re:Bitcoin vs. Ben Bernanke by Andrew_Quentin on Sunday May 05, 2013 @06:17PM (#5659970)
Well, the government could make undeclared cash illegal.
Re:Bitcoin vs. Ben Bernanke by StavrosK on Sunday May 05, 2013 @06:23PM (#5659995)
It might even work, if they had a way to track all your cash. Unfortunately, unlike with Bitcoin, they don't. This is pretty much what I said in my original comment?

I don't understand all the apologism, it's pretty clear that governments can exert an unprecedented amount of control on money with Bitcoin (all your transactions are public), and no amount of burying our heads in the sand will change that.

Re:Bitcoin vs. Ben Bernanke by Andrew_Quentin on Monday May 06, 2013 @09:08AM (#5662100)
But, they don't have a way to track your bitcoins. They can see how much is in each address, but they do not know whose address it is, etc.

You said the government would need to make all wallets that are not registered with some central authority illegal. That would be the same as you paying someone in cash if cash was made illegal. You would be doing something illegal in both situations. However, what is the government going to do about it if they do not know who you are?

Not to mention that making cash illegal would be a highly political issue and quite unpopular due to concerns with privacy, etc. The same would apply if the government wished to request some centrally controlled management of people's bitcoin account.

Re:Bitcoin vs. Ben Bernanke by StavrosK on Monday May 06, 2013 @09:12AM (#5662117)
Sure, but in the bitcoin case, you'd require both parties' wallets to be unregistered. It would require a legal and an illegal network of wallets (since the government can't track the illegal ones), but whenever a transaction was made where one of the two parties was an illegal wallet, the legal party would be on the hook for it (as it would be transacting with an illegal wallet).
Re:Bitcoin vs. Ben Bernanke by moe on Sunday May 05, 2013 @08:29PM (#5660360)
I don't understand all the apologism

I would recommend to familiarize yourself with how bitcoin works on a technical level before mowing down more strawmen.

Also: Do you really think all countries of the world will agree on one central 'bitcoin address registry'? Contrary to popular belief the internet does not end at Virginia beach...