The Currency That's Up 200,000 Percent

Quote from Avid_Consumer:

lol that reminds me of the dawn of ecommerce. money? on the internet??
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Reminds me of when Collective2 had all clients' credit card numbers stolen... Problems do happen :)

Regarding eCommerce, the key is the absense of anonymity. If the credit card number thief orders something on the internet, he provide the delivery address. So, you can be caught red-handed. A lot of sellers even refuse to ship to other address than the card billing address. Gambling Web-sites wouldn't transfer money to other account than the one they received money from.

With Bitcoin one can monetise stolen "currency" files in an automated manner and completely anonymously... by design.
 
Quote from Avid_Consumer:

i guess the question is, how is BTC different from the anonymity of paper USD? schumer has already called it a laundering vehicle.
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I don't think the anonymity of the currency itself is any different at all... physical U.S. dollars and Bitcoins are both 100% anonymous (unless the dollars are tracked or... have finger prints maybe?).

The difference is the way in which the currency is exchanged. Dollars lose all anonymity when transferred online via the usual channels while Bitcoins are built upon a system that has the potential for complete anonymity if you know what you're doing.
 
Quote from Avid_Consumer:

i guess the question is, how is BTC different from the anonymity of paper USD? schumer has already called it a laundering vehicle.
More...

Both physical U.S. dollars and Bitcoins are entirely anonymous (unless of course the U.S. dollars are being tracked.. or pick up finger prints maybe?).

The difference is in the way they are transferred - U.S. dollars are easily tracked through all normal transfer protocols, while the Bitcoin's normal transfer protocol is built to be entirely anonymous if you know what you're doing.
 
I propose EliteCoins, where you get 100 times the number of posts you've made here credited to your EC account.. Par Value $1
 
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