Tuesday, March 19, 2013

Changing marketing the way the web changed publishing


Talk show hosts like Alex Jones are buzzing about Bitcoin.org, an international, inter-currency transfer operation its innovators claims is untraceable by government hounds.

Bitcoin.org logo

You feed a CAD drawing in one end, and the printer delivers a finished product machined from composites.

If BATFE agents try to trace the source of funds spent to obtain the goods illegaly produced thereby without a firearms manufacturing permit, it's going to be impossible to track them because the peer-to-peer electronic cash system operates under a crypto-currency transfer system between arbitrary nodes, as first described by Wei Dei in 1998 on the “cyberpunks mailing list,” reads a statement on the website of Bitcoin.org

According to techno-writer Timothy B. Lee, who penned a recent report on guidelines written by the Financial Crimes Enforcement Network in “Forbes,” it looks like “there's some genuine ambiguity about how U.S. Financial regulations apply to it...”

For now, money launderers may find some golden opportunity in using the Bitcoin system to hide their cash, mold it, fold it, transfer it, and bank it elsewhere before bringing it back safely to their own coffers stateside.

Bitcoins produced in June that were worth $15 at the time are now worth slightly more than $50, according to some knowledgeable observers. 

1 comment:

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