Re: How mining GeistGeld/Tenebrix can get you a prison sentence in the US
P.S.:
Having said that, how did those year-and-something old WoW-gold money laundering cases go, any arrests so far ;-P ? (do note that WoW gold has more in common with "proper money" than Tenebrix or Bitcoin or any other "cryptocurrency" of this general type)
Having said that, how did those year-and-something old WoW-gold money laundering cases go, any arrests so far ;-P ? (do note that WoW gold has more in common with "proper money" than Tenebrix or Bitcoin or any other "cryptocurrency" of this general type)
WoW gold != proper money or else we wouldn't need blockchain based cryptocurencies at all.
Care to actually support that argument ?
What is "proper" money and how is it different from improper ?
I can store value in WoW gold, convert them to other forms of value storage, barter and trade with them... looks like monies to me.
Antique postage stamps would make decent money, very deflationary too, and quite a chore to counterfeit. And they have a proper formal issuer (usually, at least)
In fact, antique stamps are a huge market
Also, I doubt any form of 'proper' money is controlled by a single private corporation
Ha ha ha haha ha ha ha ha
US Fed reserve is not a governmental organization proper, IIRC.
Try again.
You brought the 'proper money' argument in and how WoW gold is more like it than LolCoins. By your subsequent arguments cryptocurrencies are just as much 'proper money' as WoW gold is, since I can store value in them, exchange them for other forms of storage, barter and trade with them, etc. So which is it?
Per definition I use, "proper" money must have a formal issuer, which is true for WoW gold but not for cryptocurrencies. Cryptocurrencies are abstractions formed by exotic math and more akin to distributed database service than anything else. The BTC specifically is also a bit like antique postage stamps (finite amount, incounterfeitable, amount is bound to decrease)
But REALLY be "proper money", something has to be recognized as legal tender and have a "guaranteed" value (which e-gold did) at least in some country, however shitty and remote it might be.
Money laundering X-coins is thus at most, a metaphor, since they are not legal tender and have neither a formal issuer nor any guaranteed value, and are best described as an exotic "mathematical memorabilia" built upon a complicated distributed database service.
Not at once. You can't cash out 77,000 btc at MtGox right now even if you wanted to, let alone exchange all your Lolcoins for btc. 50 or 100 btc worth here and there will never be noticed though, and is still enough for you live comfortably in your Eastern European paradise.
Last time I checked, block explorers do not have a capacity to "forget x coins here and there".
It is called the United States Code. The law of my land. Truth > willful misunderstanding. Most people don't get that until the gavel falls at the end of their day in court.
I see you are still waxing poetic.
Please show me the tweet link, mister e-lawyer
