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  •  Bitcoin is making a comeback (5+ / 0-)
    Recommended by:
    linkage, Bob Duck, katiec, Odysseus, lotlizard

    Bitcoin is digital cash. It is anonymous, borderless, instant, secure, fixed-issue-rate, cash that can be exchanged over the Internet at the speed of light, without borders, governments, Paypal censors telling you who you can or cannot give money to

    So in a world where you can donate via PayPal and VISA to the Ku Klux Klan, but you cannot donate to Wikileaks, money is also political if it can be filtered and controlled

    Have a look at bitcoin, as much as it has been maligned it is not going away so easily.

    Oh, and if you liked this, I accept bitcoin tips:


    •  Only cash money allows the freedom of anonymity. (2+ / 0-)
      Recommended by:
      DRo, cynndara

      So long as cash is accepted we can be anonymous.  Pay electronically and all movements can be tracked and worse... stopped.
      Banks are increasing their advertising about the advantages (to them) of eliminating cash.
      I'm in no way a CT,  but just being practical.

      •  Bitcoins are easier to launder. (2+ / 0-)
        Recommended by:
        katiec, Odysseus

        There are services that'll take your bitcoins with instructions to provide them to "Bob".  They have a whole pile of bitcoins they have from similar transactions.  They take a fee to essentially throw those bitcoins into the giant pile, mix them up and send them on to "Bob".  From an external perspective it's clear they both took from you and gave to Bob.  But it's less clear that the exchange is from you to Bob.  Also Bob is a fake person in possession of a temporary (read 1 hour) online wallet which then transfers possession to another temporary wallet with a fake identity which see where this is going?  All managed through an anonymising process like Tor.  So sure it's obvious you're doing all this if someone's reading everything coming in and out of your computer, but it's not obvious to someone tracking the temporary wallet websites and laundering services.  

        Wired did a piece on The Silk Road a few years ago.  Begs the question "How the hell do drug dealers sell to people over the internet and not get caught?!?!"  This is how.  

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