No. of Recommendations: 0
Another reason to stop the madness (and stupidity) of bitcoin. The variety of global currencies available are just fine for legitimate transactions. Bitcoin is predominantly a way to cover illicit transactions. - 1pg
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I have a hard time grasping the concept of mining which seems like a ponzi style scheme where the early in miners profit from selling to the naive newbies.
I am all for keeps the feds from snooping around citizens financial data or any other data for that matter without a search warrant. But can you trust the feds will allow the restrictions to interfere with a "righteous" investigation? Experience has shown us that skepticism is in order. So I get why people use bitcoin for perfectly legal purchases. You have to admit that it is effective at shielding payments, legal or not, from prying eyes.
If Senator Menendez took his bribes in bitcoin instead of gold bars and a Mercedes, he would not be under indictment.
