Bitcoin

So how many of you have heard of this? How many actually know about it? I've been doing my research and I must say, I don't know if I like it more because I can get gear without outrageous WU fees or because it is in direct defiance of the monopoly that the Feds have over our current money supply.

One can acquire Bitcoin in several ways. Bitcoin.org has all of the information you need.

But the best part is

Consumer A purchases said Gear from Producer B all via cell phone in a matter of minutes. All which can the be exchanged for US Dollars if one so desires. Long story short, no more WU, money gram....

This is just like anything else economical. The most innovative supplier will be the most successful. Think about that. I know that if my two favorite suppliers have same gear prices, and one has bitcoin option, im going bitcoin.

Bitcoin took a huge hit when they busted silkroad and honestly I'd stay as far away from as I could. It's a lightning rod for the feds in many ways. I know there are many legit businesses using it but there are 10x as many clandestine ones who use it as well and government knows this. For the very reasons you like it the law watches it as well. Untraceable transactions using a virtual currency not backed by a government or gold is dicey enough, but the fact that LE looks for it's use is the scariest part.

^^^ Yup ^^^

Buy it now. BMR is still up and running and amazon is about to start accepting bit coin!!

China's ban on its handling bitcoin causes world's largest exchange to cease[FONT=inherit !important] [FONT=inherit !important]trading[/FONT], halving the value of the currency from $1,000 to less than $500 in a matter of days.[/FONT]
This action caused the value of bitcoin to plummet around the world, with Tokyo-based exchange Mt Gox seeing the currency fall as low as $480 (£294), from a record high of $1,200 at the start of December.The country's central bank took a hard line on bitcoin in early December when it banned institutions from handling the decentralised crypto-currency, and as a result BTC China, the world's largest bitcoin exchange, has stopped accepting deposits from its users.
Playing by the rules
Speaking to Bloomberg Businessweek, BTC China chief executive Bobby Lee said: "We've suspended customer deposits. It is unfortunate but we apologise for that inconvenience. We think this is due to government regulation. We have to play by the rules of the government of China. It is what it is."
Bitcoin's surge in value from $100 to $1,200 in just four months was believed to be a result of substantial Chinese [FONT=inherit !important][FONT=inherit !important]investment [/FONT]in the currency, but, as was seen during a similar boom and bust in April, the currency is extremely volatile and is not backed up by any central bank.[/FONT]
BTC China was forced to block deposits after a number of third party payment providers - such as YeePay and TenPay - gave notice that they could no longer provide their services to the exchange, in compliance with the central bank's actions.
The People's Bank of China issued a statement saying bitcoin is not a currency and therefore banks and other [FONT=inherit !important][FONT=inherit !important]financial [/FONT][FONT=inherit !important][FONT=inherit !important]services[/FONT][/FONT] are forbidden from dealing with it.[/FONT]
Withdrawals of funds from BTC China remain unaffected, but with no money going in this leaves the exchange in a precarious situation, worsened by bitcoin's falling value encouraging [FONT=inherit !important]][FONT=inherit !important]investors[/FONT] to cash in, for fear of the currency's value not recovering.[/FONT]
Remain calm
Analysts urged investors to remain calm, claiming the real value in bitcoin will be its widespread use and acceptance in less restrictive countries.
Jaron Lukasiewicz, CEO of New York-based bitcoin exchange Coinsetter toldCoinDesk: "This development will have a negative influence on bitcoin's near-term price potential, but I would encourage investors to remember that speculation doesn't drive reliable value in general.
"Bitcoin's long term value will ultimately be derived through global usage as a payment network in less restrictive countries."
This week also saw Denmark state bitcoin is not regulated there, but added that because the currency is not policed by the country's existing financial rules, anyone who wishes to operate a bitcoin-related business can do so without government approval.
However, and echoing the European Banking Authority, Denmark's Financial Supervisory Authority warned that because bitcoin is unregulated, investors should exercise caution when dealing with the currency - and that its use carries implications for both tax and crime.

Feels wrong.

Bitcoin has it's place but it won't remain free from control for long. The powers that be won't allow it. As far as remaining completely anonymous the idea that one can do anything today with complete anonymity is a myth IMO...At the end of the day there's a footprint that you've left somewhere along the road, and if they really want you they'll find you. Whether it's your supposedly anonymous VPN provider who actually kept logs even though they said they didn't, or a cell tower that recorded the time of your call, and the number you called, you're traceable. Remember folks Silk road operated within the Tor system which is supposed to be one of the safest ways to transverse the internet without anyone knowing who, or where you are....and they still found him.....Gee what happened to being invisible right?

Abombs said:

Bitcoin has it's place but it won't remain free from control for long. The powers that be won't allow it. As far as remaining completely anonymous the idea that one can do anything today with complete anonymity is a myth IMO...At the end of the day there's a footprint that you've left somewhere along the road, and if they really want you they'll find you. Whether it's your supposedly anonymous VPN provider who actually kept logs even though they said they didn't, or a cell tower that recorded the time of your call, and the number you called, you're traceable. Remember folks Silk road operated within the Tor system which is supposed to be one of the safest ways to transverse the internet without anyone knowing who, or where you are....and they still found him.....Gee what happened to being invisible right?

Click to expand...

Ahhh you beat me to it, LE is not dumb, they have all the tools we have and more, their just as technologically advanced as the criminals, and they have a lot more man power. In the end if your doing things you shouldn't be doing, it's not an if, if your gonna get nailed, it's when are you gonna get nailed. If your smart you may have longevity in the game, if your smarter you get out when your ahead, but the lifestyle is fun and all it's perks that come along with it, it's just way to hard to give up.

Oh and about the OP, I wouldn't do anything on a cell phone, even a burner phone, if your guy is hot they have the time and resources to connect the dots

Abombs said:

Bitcoin has it's place but it won't remain free from control for long. The powers that be won't allow it. As far as remaining completely anonymous the idea that one can do anything today with complete anonymity is a myth IMO...At the end of the day there's a footprint that you've left somewhere along the road, and if they really want you they'll find you. Whether it's your supposedly anonymous VPN provider who actually kept logs even though they said they didn't, or a cell tower that recorded the time of your call, and the number you called, you're traceable. Remember folks Silk road operated within the Tor system which is supposed to be one of the safest ways to transverse the internet without anyone knowing who, or where you are....and they still found him.....Gee what happened to being invisible right?

Click to expand...

Truth - But SilkRoad went down because the owner used his real name on his gmail account. Not because LE was able to find him through the dark web. That stupid mistake got him pinched.