Apparently TradeHill has decided to close due to increasing regulation scrutiny. Major Bitcoin exchange shuts down, blaming regulation and loss of funds Bitcoins took a big hit in the last couple days too...hope it can come back. Might be a super cheap to buy in, but do your due diligence.
Bitcoin: FBI Admits To Engaging In Infiltration, Disruption and Dismantling of Competing Currencies The FBI writes: ?Attempts to undermine the legitimate currency of this country [ie. unconstitutional Federal Reserve notes] are simply a unique form of domestic terrorism,? U.S. Attorney Tompkins said in announcing the verdict. ?While these forms of anti-government activities do not involve violence [ie. they are voluntary systems with no victim], they are every bit as insidious and represent a clear and present danger to the economic stability of this country [ie. their widespread adoption may collapse the corrupt banking system],? she added. ?We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government.? [ie. we will engage in acts of domestic terrorism to prevent the voluntary trade of private property.] Any major exchange or retailer that comes online in the future should be treated as either a potential victim of FBI hacking attacks or as an FBI run operation that will be used to disrupt the Bitcoin market at some future date. This means that people should be especially leery of using new exchanges or wallet sites without having an extremely thorough knowledge of who is involved and how their systems are administered. Given the above admission by the FBI that it engages in acts of domestic terrorism to disrupt the trade of private property, we should expect any Bitcoin exchange or major retailer to have security systems strong enough to withstand a domestic terrorist attack by a US Federal agency. If they don?t, it is highly likely that they will suffer a crippling domestic terrorist attack perpetrated by our own government. For end users, this means you should not entrust the bulk of your coins to anyone but yourself. You should operate your own Bitcoin client and keep any major holdings of coins off line in a file that is replicated and backed up on an encrypted drive. All exchanges, wallet sites, and retail outlets should be presumed to be compromised Also Bitcoins are majority used to purchase drugs online and fund terrorism via TOR. I won't be touching anything associated with terrorism especially since the US passed that new law. Perhaps I am just confused about this whole Bitcoin thing but to me it seems like something that will be used underground for drug buys and terrorism and other blackmarket stuff once the US finishes dismantling it
It's obvious that it's used for terrorists but that's what you get with any unmanaged tradeable currency which operates on anonymity... the advantages and disadvantages of a anonymous currency exchange.
Actually they were hit with a $100,000 chargeback and it stuffed them: Press Release: TradeHill, Inc. Files Suit Against Dwolla, Inc. ? TradeHill
Somehow, regulation will help BTC entrepreneurs to find a better way to legalize online transactions. But if regulation became self-focused, it will only restrict the process of doing business on the web.
