Quote from: ebliever on March 27, 2017, 04:30:56 AM

Quote from: Wind_FURY on March 27, 2017, 03:45:41 AM

Quote from: ekoice on March 26, 2017, 06:27:33 AM

Quote from: ebliever on March 22, 2017, 03:20:25 AM

https://news.bitcoin.com/chinese-central-bank-requiring-extreme-customer-verifications-at-exchanges/

I know we're talked about endless rumors and fake news of China "banning" bitcoin, but short of an absolute ban this sort of thing looks like a step in the direction we have long feared they would take. A big step.

The PBoC is apparently requiring every customer to write out how they got their bitcoin, among other things, such as explaining why they are withdrawing whenever they want to convert to fiat. Very, very intrusive stuff. The question is, how will Chinese buyers respond? Is this just business as usual when dealing with their government, or is this the sort of thing that will dry up the Chinese market for bitcoin? Or something in between?

PBOC just wants to stop its country's wealth being transformed via bitcoins to abroad.For that reason,they are asking customer verification at bitcoin exchanges.Let them do whatever they want.If the chinese gamblers and miners leave out of bitcoin community,it would be better for the bitcoin progress as a whole.

Besides trading where do you think Bitcoin derives its value from? The Bitcoin economy is primarily comprised of the participants of the dark markets, gamblers, money launderers and other criminal enterprises. Cut them out of the whole thing and we have a useless cryptocurrency just like the altcoins.

What evidence do you have as to their preponderance?

I read an article about the increasing rate of growth of the dark markets from the Deepdotweb website I think. I will try to remember and I will look for the article then post it here.

I want to see how much growth Bitcoin has that is used in buying legal items. Can you give me that information?

Quote

I agree with the sentiment that bitcoin is being held back by criminals who use it. But I expect they are a minority, particularly from an economic standpoint. A thousand two-bit scammers don't possess the economic clout of a Barry Silbert or Cesare Wences (sp?), or the small army of geeks and libertarians that first embraced and continue to embrace bitcoin.

I go back to the argument that Bitcoin is a decentralized, censorship resistant value transfer system. This is the perfect playground for criminals. I do not think it is being held back by the criminals but what it is doing is bring criminality leaping forward.