It looks like an attempt to hi-jack and destroy. The problem is the regulations that come with a government service. As soon as you have safe and blacklisted coins identified by the block chain you have destroyed the fungibility of Bitcoin because you create two standards of currency unit.
Then, Gresham’s law takes over because 10 BTC on a blacklist will be worth less then 10 BTC thats deemed clean. It’s the same with fait cash. If you have a bundle of it without a trail of how you got it you can’t bank it and it’s known as black money. (Gresham’s law; Good money drives out bad money).
IMO, Bitcoin can’t work like this. It’s peer to peer and designed to be free. Sticking bankster regulations on it is just like infecting it with a virus.
Because Bitcoin is limited to 21 million units, blacklisting will start to take out BTC value on an increasing basis as more volume becomes debased (by bankster restrictions). At a certain point, because Bitcoin now has competition from other developing cyrptos, Bitcoiners will head for the exits and their will be a fatal crash where a load of people get seriously burned.
The other point is…. Why would anyone think that they need the post office’s help to transact a digital currency on the internet? Would anyone take them seriously if they suggested that we needed their help and services to send Emails???
I will donate a couple of huntercoins to the next 5 people that post a huntercoin address below. Disclaimer: this coin/ game is highly addictive and I wasted(hunted) coins for hours yesterday.
Get your client here and happy hunting the most original alt coin to date.
Maxcoin will unfortunately never make it past a mild curiosity if they don’t incorporate human mining, now made popular with huntercoin. Imagine if you could hunt for a digital ethical keiser with your tribe of huntsman. Lol
I’ll also give Stacy a stash should she so wish for one.
The more the merrier right? More competition between warring greedy factions will create a diverse and prosperous landscape right?
I have increasingly come to believe that the U.S. govt. is eyeing bitcoin as something that if given the right “guidance” could be exploited in such a way as to be a major financial windfall for them. Of course, if I am right then this would surely be welcome news for the bitcoin specators as I’m sure, barring the government doesn’t screw it up by either hammering it into the ground with unreasonable regulations or more likely by changing the bitcoin protocol into a “snoop network” tying all tranactions to individuals, know who has what and what are they doing
>>> Why would anyone think that they need the post office’s help to transact a digital currency on the internet? Would anyone take them seriously if they suggested that we needed their help and services to send Emails???
ok, but if you had a physical wallet full of paper dollars, you could go to a post office and buy some bitcoin with the dollars transferred to your phone, then instantly send it abroad or whatever. using an existing online exchange you need to transfer money from bank account to exchange which can be costly and take a few days waiting. what the post office is talking about here is essentially a bitcoin-USD cashpoint in their buildings, which would be very good for bitcoin awareness and uptake imo, not sure how profitable it woud be for them though.
goodbye moneygram and western union.
I think Bitcoin would have to operate more like Paypal for that marriage to go ahead. I´m not sure an honest government agency would need nor permit for anonimity of clients to send money via the net.
@Enviro mental – exactly; and I’m sure they could take a big chunk out of the remittance business
Is bitcoin hackable? Like by the NSA, for example?
Ah …….the oldest banking instutition on north america…….the Post Office…..lets not confuse the Post Office with the Unionized United States Postal Service…….it would be interesting to see the UPU response as well as the adoptability and potential for back door hacking by the NCR data base and the IBM based computer systems…….Via La Bitcoin……….issuance of substance ………..instruments…………United States Postal Money Orders…….with full encryption ………seems the Post Master which all of the departments fall under can read the writing on the wall………US Treasury, DOJ, Department of Transportation, USDA, IRS ……Department of the Treasury…and POTUS…..are under the Post Master….woops did not learn that in the Public fool system……..maybe the Estates of the men and women can be claimed in the registry……through the County Registrar of Deeds….the collaterial being the Securities being held by the Bank of New York Mellon……in the form of ADR American Depository Receipts……all of them on bank note paper…….look you your……..we can post them…….through the original Post…… as the collaterial….and the CAFR accounts account for nearly 50 Trillion in assets….
I just can’t imagine the post office dealing in Bitcoin before the likes of Amazon and Walmart. Bitcoin would need to be much more widely used and accepted by the general public before the USPS would genuinely consider such a thing, yeah? And by then, I imagine Western Union will have beat them to filling that role as the ubiquitous, street corner American BTC/USD exchange.
I’m gone to convey my little brother, that he should also pay a visit this website on regular basis to obtain updated from most recent reports.
Capture and destroy…
… Unless the stamp IS the bitcoin and just changing color when you receive it! ;D
And, btw, btc ain’t free. Looking back; i spend a hindered dollars out so to send some. (‘t was cheap back then).
One of the only ways to buy Bitcoins in the UK is through cash or Postal Orders. When the banks are determined to close any account involved with converting Fiat to Bitcoin it leaves a golden opportunity for the postal service to step in and take advantage of the opportunity!
Necessity is the mother of invention.
Goverment and bitcoin is like oil and water… they do not mix well at all…