Someday I hope to actually grow up, but it doesn’t seem very likely at this point.

It’s actually a valid expression.

“beating someone off” may be slang but the actual context normally means to hit people in order to make them let go of you.

Once again, bobmail, please learn to read.

The feds can not – literally can not, in any way – seize a company where the actual “company” is distributed between millions of shareholders in half a dozen countries.

“Would you like to take another swing at it?”

…screams the onlooker to the batter who just hit a home run straight out of the park…

Honestly, bobmail…you need to put up a flattr account.

It’s amazing the way you keep spouting pompous nonsense after everyone else and their granny have demonstrated you to be wrong.

And the preening you do at the end of it is priceless.

1) Bitcoin in itself more or less renders the debit/credit card system a completely unnecessary redundance. Trying to even add current fiscal system adds another layer of complexity on a user level without adding any functionality.

2) No regulation of bitcoin is, in effect, possible. The central point of the currency being that transactions are anonymous and untraceable. Quite literally it’s the online equivalency of cash in your wallet.

“There is no justification or support for the value of a bitcoin, no real underlying support.”

http://en.wikipedia.org/wiki/Fiat_money

I think I have news for you. The same holds true for the Dollar, the Euro, and the Yen.

“That is a big problem, as a run on the bank as it were would collapse the thing in seconds.”

USA crash of 2009. Indeed any currency suffers that problem.

“I really don’t think Kim would want to have to reveal all of the inner
financial workings of Mega…”

Not a problem then. Any third-party audit of MEGA will resolve all those questions. As a matter of fact, given what a crook you paint him to be the man must be a genius to set this up under the watchful eye of two national organizations with every motivation and incentive needed to want something to nail him for.

Me, I’m thinking Kim’s books will be kept with painstaking care in a way to bring a grateful tear to the eye of even the most nitpicking auditor.

I think your problem, bobmail, is that you assume a bag of hammers is the mean average IQ.

…and judging from your many attempts to rewrite history or attempt to explain how technology works in the middle of a pack of sysadmins, why that would be the limit of your horizon.

“…unless it’s a truly amazing success story,
which so far isn’t a given at all.”

Because it already has a massive roi and every server keeled over for 24 hours straight due to the influx of subscribers?

Yes, in your little world I assume when the shopkeeper has to beat customers off with a stick that means the business failed.

And they don’t.

Or are you saying MEGA’s servers are magically teleported to the US the second a US-based customer accesses them?

Must be the “miracle of transubstantiation” rewritten to fit the copyright dogma then.

Here’s a better alternative: The G33K is completely correct and if US law has a beef with this the only way they can deal with it reasonably is by telling their citizens it’s illegal to access foreign services while standing on US soil.

” Long term investors (institutional) aren’t going to want to touch anything that can blow up…”

They were standing in line in order to fund MEGA. This is the second time in a row we have to point out to you that trying to rewrite established history in order to make it fit your personal opinions doesn’t do much good.

“They don’t want to be involved in a business that could lose it’s leadership because of legal trouble.”

And yet, apparently, that is just what they did.

Bobmail, would you care to try again? By now you should realize that the game of history revisionism flies as well as a lead duck on these forums.