Quote from: aigeezer on May 28, 2013, 12:27:24 PM

Quote from: abbyd on May 28, 2013, 03:16:53 AM

Quote from: marcus_of_augustus on May 28, 2013, 01:12:32 AM

Quote

"Every time theres a potential hurdle on the road to Bitcoin adoption, its not Bitcoin thats the problem. Its the arbitrary and cumbersome regulations of the legacy banking system, and the stranglehold that State has on the dollar.

The more they try to strangle bitcoin-dollar transactions they will only succeed in strangling ALL dollar transactions ... they are making their own currency worth less by restricting its ability to be transacted and therefore useful. It is the same with the cash threshold restrictions, they are restricting the flow of their own currency and thus it market value.

The dollar is in competition with bitcoin (and other currencies) so placing capital controls on dollars inside the dollar system to restrict bitcoin usage is pointless and actually counter-productive for the dollar itself. With every capital control, cash restriction, AML/KYC regulation or other restriction on dollar transfers implemented inside the dollar payments system the bitcoin becomes more valuable because it has none of these impediments to transaction within the bitcoin system.

Not exactly - the banksters are currently waging a "war on cash". The purpose is to get all transactions "on the grid", so that they can be logged and controlled if necessary. Any transaction of more than about one thousand USD needs to be electronic - via credit, ATM card, etc. Once enough transactions are done "on the grid", they'll have full control over monetary movement. Implementing capital controls, ordering bank holidays, and gatekeeping transactions will all be trivial tasks. The Fed can pump and dump the money supply to infinity with impunity. Markets of all types can be manipulated and managed by multinationals as they please. As one might imagine, Bitcoin doesn't fit into their pretty picture, and must be neutralized.

Prepare yourself for protocol encryption/encapsulation, blockchain hiding/segmenting, and bulletproof exchanges...

I agree with that "war on cash" theme, although motives are anyone's guess. As far as I can make out, the "war on cash" is playing out even at the micro-transaction level: Starbucks, card swipes at gas stations or convenience stores, and so forth. "The System" is trying to get the convenience and immediacy of electronic cash-substitutes, which seems like a laudable development but a ~~side-effect~~ main effect is that it enables them to create a faux cash substitute at will, in mind-boggling quantity, and track its every movement. Interesting times - the BTC ecology seems the perfect response, so far.

There are a few articles trickling out about the war on cash - Max Keiser talks about it, Jon Matonis mentioned it on his blog. The big offender so far is Sweden:

http://www.economicpolicyjournal.com/2013/03/the-international-war-on-cash.html

From what I can tell, citizens in places like Sweden tend to be very trusting of government authority... a perfect testing ground for the propaganda, etc.