[noagendamarket]

If you leave your wallet on the beach your cash is gone or someone could pickpocket you. Egold was located on a central server that was liable to confiscation. You can buy alpaca socks with bitcoin. You can do money laundering ,cp and drugs with US dollars.

[ashconnor]

You have recourse by contacting authorities.

E-gold's centralised system was not what I was debating. It was the exchange of e-gold to fiat currencies.

Alpaca socks I will assume are created by the person who actual sells them. Dealing with other suppliers who won't accept BitCoin was the obstacle I was detailing.

I don't debate that you can launder money in USD but it is easier in this system. There's no paper trail, well there's no identity linked to wallets.

[dublinclontarf]

>You have recourse by contacting authorities.

I'm sorry I would have replied to your comment earlier but I was incapacitated with laughter.

How often have the "authorities" been able to help a person recover a stolen wallet? Or the funds taken from their bank account with a skimmed ATM card? Or any of the thousands of other kinds of fraud and theft or robbery?

The "authorities" file reports, thats about it. What they do provide is the illusion of protection, a false sense of security.

Really what are they the "authorities" going to do that a normal person can't?

[joelthelion]

>no paper trail

There's a lot of information in the blockchain. I'm not sure bitcoin is really that great for laundering.

[ashconnor]

You can generate multiple ids for the same wallet.