Quote from: ffssixtynine on November 15, 2013, 02:46:38 PM

So far what I'm reading is a very adult conversation about serious issues Bitcoin faces as it grows up. I'm not seeing the sort of thread that would happen here or Reddit.

It's not decisions being forced by the Foundation and I'm tired of seeing it put across like that. It's a discussion and it's a really important one. Here is why:

Imagine Bin Laden is still around.

We find out his Bitcoin address. It contains 10,000 Bitcoins and we can see transactions entering it.

We then see outgoings, some of which are traced to weapons used to kill 1000s of Americans, think a major bomb or subway incident.

What do you think is going to happen? Media outrage and congressional outrage. "We must ban this worldwide!". It's exactly what will happen. Bitcoin being so public is a double-edged sword.

I don't want anything that's been proposed but I can see the need for a good digital identity system. There are good reasons to keep it off the blockchain - it could even be a bitcoin derivative run by miners. It could be required for high value transactions or purchasing of certain items, e.g. alcohol. There are many ramifications and many issues it will raise. Issues of data protection, even more and much easier identity theft, the US knowing far too much about everyone, issues getting verified, centralised entities in control, etc etc etc.

I also think that something in this area is inevitable, it's about finding the least damaging way to do it. I would not want it coming from the likes of Yifu et al but that doesn't take away from the importance of discussing it with an open mind rather than immediately jumping into personal attacks and invalid conclusions.

For reference: I am not a foundation member and I do not want to see any of this. However, I recognise that there is a problem and that lawmakers worldwide are going to mandate some form of identity regulation on all cryptocurrencies for taxation and criminal purposes. Whether it remains just with exchanges or more expansive I don't know, but at the very least I'd expect all commercial purchases > $10,000 (e.g. houses, cars) to have some form of reporting requirement, just as banks have to report similar things.

The status quo isn't going to work. Saying that Bitcoin will just get on with things anyway isn't true. Bitcoin would become a black market device while another crypto - perhaps more centralised and horrible, would become mainstream. Most people out there don't care about all this, they just want to have/spend money, that's what people here don't realise.

Similarly, enacting any of these solutions will push criminals into black market currencies, extensive identity theft, and new technologies. It will, however, improve the situation for law enforcement and the taxation authorities (yes you have to pay tax; no it's not up for discussion here). It will also prevent the Bin Laden situation I describe, for which you could also write cryptolocker etc.

Please don't shoot me, just have the discussion about the problem and suggest solutions.

you are out of the topic . The truth is Laden bought weapons using USD not bitcoin ,so why not ban USD worldwide ? Because it's not money's fault .