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  1. [21:36:17] * Starting query with jacksonvill2gvil
  2. [21:36:27] <Angus> May I ask where you heard that?
  3. [21:37:38] <jacksonvill2gvil> staff meeting today
  4. [21:37:45] <jacksonvill2gvil> im an intern at a law office in jacksonville
  5. [21:37:58] <Angus> Ah right
  6. [21:38:10] <jacksonvill2gvil> ?
  7. [21:38:33] <Angus> I think you'll get a better reception if you mention that and rather than going all THE END IS NEAR simply suggesting to people that they store their wallets clientside
  8. [21:38:45] <jacksonvill2gvil> our office was hired for a relating case that we are filing tomarrow
  9. [21:38:58] <jacksonvill2gvil> i didnt say the end is near
  10. [21:39:18] <jacksonvill2gvil> i said bit coin is going to be regulated and frozen in place in all walletts and exchanges
  11. [21:39:33] <Angus> Yeah, if this happens it may be a good time to buy more coins before people discover offline wallets and actual clients
  12. [21:39:33] <jacksonvill2gvil> people can still have them later after congress passes regulations
  13. [21:39:47] <Angus> They can't really freeze a wallet stored on a computer
  14. [21:39:50] <jacksonvill2gvil> but they will be regulated, documented and taxed
  15. [21:40:07] <jacksonvill2gvil> some will be seized if they cant place identities on them for claim
  16. [21:40:25] <Angus> They may order coinbase and blockchain to freeze everything but in the end you can't seize a bitcoin sitting in a wallet on a private computer
  17. [21:40:32] <jacksonvill2gvil> and there will be lawsuits galore which is what my office is filing on
  18. [21:40:52] <jacksonvill2gvil> they can block anyone from moving or using them.
  19. [21:40:59] <Angus> Please elaborate.
  20. [21:41:15] <jacksonvill2gvil> because they are basically comming in to control it all
  21. [21:41:38] <jacksonvill2gvil> and if its not able to be controlled people, at least in the states, wont be able to use their banks
  22. [21:41:39] <Angus> I don't think that would happen. They can't control a decentralized network
  23. [21:42:00] <jacksonvill2gvil> and any thing in the US like coin base, wont be able to move anything
  24. [21:42:07] <jacksonvill2gvil> nothing in or out
  25. [21:42:33] <Angus> Yes, people using the qt client, multibit, mycelium etc can still move funds
  26. [21:42:49] <jacksonvill2gvil> they cant get cash for it in the united states
  27. [21:43:16] <jacksonvill2gvil> it will be useless unless they go overseas and risk getting caught with a felony
  28. [21:43:17] <jacksonvill2gvil> lol
  29. [21:43:19] <Angus> Not through the major exchanges. Localbitcoins isn't out of the question though
  30. [21:43:35] <jacksonvill2gvil> you'll find out when it happens on the 15th
  31. [21:43:35] <Angus> The idea is to spend bitcoin, not just cash it out to USD
  32. [21:43:37] <jacksonvill2gvil> or before that
  33. [21:43:50] <jacksonvill2gvil> anyone doing business wont be able to accept bitcoin
  34. [21:43:52] <Angus> Trying to trigger a panic sell or...
  35. [21:43:57] <jacksonvill2gvil> or no one will want to
  36. [21:44:07] <Angus> http://bitcoin.org/en/how-it-works
  37. [21:44:11] <jacksonvill2gvil> because it wont be worth any value till all this passes
  38. [21:44:13] <Angus> You may want to read that.
  39. [21:44:17] <jacksonvill2gvil> you dont get it
  40. [21:44:24] <jacksonvill2gvil> lol you dont understand congress
  41. [21:44:30] <jacksonvill2gvil> its getting regulated
  42. [21:44:39] <jacksonvill2gvil> sorry if that makes you frustrated it is what it is
  43. [21:44:47] <jacksonvill2gvil> and its going to be a bitch for people in the US
  44. [21:44:51] <Angus> I think you're the one who's not getting it here. You don't understand the workings of the network. It's decentralized and they cannot halt people using it as intended
  45. [21:44:53] <jacksonvill2gvil> to do business, or anything with it
  46. [21:45:04] <jacksonvill2gvil> They make laws you can do what you want
  47. [21:45:11] <Angus> Many drugs are illegal, doesn't stop people
  48. [21:45:14] <jacksonvill2gvil> but illegally for the time being starting on the 15th lol
  49. [21:45:21] <jacksonvill2gvil> and banks wont honor shit
  50. [21:45:30] <Angus> Banks have nothing to do with it
  51. [21:45:41] <Angus> People use bitcoin so they don't have to deal with banks
  52. [21:45:49] <jacksonvill2gvil> a big portion they do becuase 1. thats how people buy their bitcoins and cash them out with their banks
  53. [21:45:50] <jacksonvill2gvil> sorry dude
  54. [21:46:00] <jacksonvill2gvil> most people using bitcoin right now are investors
  55. [21:46:16] <Angus> I'm aware. Same with people using the Forex markets
  56. [21:46:22] <jacksonvill2gvil> if you think most people are "shopping" your incorrect. thats a small percentage of bitcoin holders that are shopping
  57. [21:46:57] <jacksonvill2gvil> so in simpler terms. if you have a coinbase account attached to your bank account, your bank account wont work with it anymore
  58. [21:47:06] <Angus> Yes, I know. People are holding, me being one of them and hoping the value will go up. I still shop and most people I know will buy with bitcoin if the shop accepts
  59. [21:47:11] <jacksonvill2gvil> no visa cards
  60. [21:47:13] <jacksonvill2gvil> no master cards
  61. [21:47:18] <jacksonvill2gvil> no personal checks
  62. [21:47:24] <Angus> Dude, you don't get it. Coinbase is not the entire network
  63. [21:47:27] <jacksonvill2gvil> you could use cash p2p, but it will be illegal
  64. [21:47:40] <jacksonvill2gvil> i didnt say coin base was numb nuts
  65. [21:47:55] <Angus> People will use wallets that are actually connecting to the network directly with no intermediary
  66. [21:48:03] <jacksonvill2gvil> im out peace im not here to teach you. i was just telling people. dont get your panties in a wad over your precious bitcoin
  67. [21:48:23] <Angus> I'm not, Just educating you on a system you appear to have a very limited grasp on
  68. [21:48:37] <Angus> Tell me though as I'm curious. How would the government detect someone making a transaction through TOR from a qt client?
  69. [21:48:45] <jacksonvill2gvil> Go read law. Go read the papers passing through congress. go look up the dockets. christ dude
  70. [21:48:46] <Angus> or buying bitcoin person to person in cash
  71. [21:48:57] <jacksonvill2gvil> g2g bye
  72. [21:49:16] <-- jacksonvill2gvil (~trixxxxxx@ip98-180-77-153.ga.at.cox.net) has quit
  73. [21:49:33] <Angus> Mate, I'm not a lawyer. I just have enough common sense and no need to hide behind the LOL I'M A LAW INTERN card. I appreciate the warning, but I'm curious as to how they would regulate it
  74. [21:49:33] * jacksonvill2gvil: No such nick/channel
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