Quote from: seriouscoin on January 29, 2014, 12:25:12 PM

Quote from: Phinnaeus Gage on January 29, 2014, 05:43:44 AM

Quote from: knight22 on January 29, 2014, 05:08:04 AM

First part was quite positive

I like the part about mega VCs investing in massive data centers to mine bitcoins. They're concerned about money laundering via bitcoins, but when given an example, nobody flinches.

Care for another example? Have you noticed all those Bitcoin Miner product sites lately? Not the ones discussed on this forum via threads introduced by their owners, of which are then turned into some sort of flame war or scam thread, but the other ones. The handsomely built ones, with all the bells and whistles, with order pages in place. Those, those that you'll never hear a single complaint about by nary a customer. Why? Because the owners are their only customers.

The above hit me like a ton a bricks only a few minutes into that first video. Every one of those sites that I eluded to above can easily transact, then covert to fiat directed to their bank accounts, a quarter to a half million dollars in sales and, get this, the entities could all be registered and totally in compliance.

For those playing at home desiring to know exactly how the above is played out, simply ask, whereupon I'll pen a detailed post outlining the simple procedure.

~TMIBTCITW

What you describe is not bitcoin specific and it already happens everyday. Its what we call "money laundering" ....

Notice how ppl clean their money thro their own business? Kinda funny when you think you found a loophole tho.....

The second market guy said it all correct " i dont see how or why mining would need regulation?"

Thats it about mining. Stop making you sound like you've just invented a wheel.

I'm not trying to make it sound like I just invented/reinvented the wheel.

Ready for some more butthurt? Consider all them alt coins. Surely, no one would argue that nary a one of them is used for laundering fiat.

Try following that/those public blockchains.

Fiat ---> Bitcoin ---> Alt1 --> Alt2 --> AltEtc... --> BTC --> Fiat