Will Bitcoins Allow Unregulated Gun Sales?

Posted: April 15, 2013 in Uncategorized
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Years ago I came across bitcoins.  I considered investing a little of my own “real world” money in them but ultimately decided against it.  I wasn’t much of an investor or risk taker at age 17.  However, it seems to have caught on a lot better than I ever expected.  I’ve even come across a few online retailers that have started offering that as one of their accepted payment methods.

If you aren’t familiar with bitcoins I suggest you check out the Wikipedia page I linked to at the start of the post.  Basically, the bitcoin is a form of currency that is used online and backed by the internet community.  No government is involved in managing the currency and many believe it to be a safer investment than a national currency such as the dollar.

Another benefit to the bitcoin is that transactions are anonymous.  It is extremely difficult to track transactions and find who the individual purchaser or seller really is.  I’m sure it can be done but as far as I understand its pretty secure.  A lot of people see this as a huge advantage in a world where purchases are becoming easier and easier to track every day, where “big brother” is always watching.

It seems the gun industry has taken notice as well.

While selling guns in the manner described in the above article may be illegal, it may be near impossible to prosecute anyone if bitcoin transactions are as secure as they claim.  If gun laws continue to restrict our access to firearms I believe we’ll begin to see a lot more of this in the future.

It has a bit of a “black market” feel to it but using bitcoins in general is not illegal.  No government backs it but none denounce it either.  Its only as useful as its patrons find it to be.  I suppose all currency starts that way: People get together and decide something has value, even if its not a coin or paper.  After all, people were using chickens and pigs as currency long before gold and silver.

What are your thoughts on the bitcoin?  Is it here to stay or just a fad that will die out?  Will this help fuel the black market for guns or do you think it will somehow be restrained?  Will the government allow such a currency to exist or will it become illegal to trade using such a currency?  And if it becomes illegal, will they actually be capable of prosecuting anyone using it?  Let me know what you think in the comments.

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Comments
  1. […] interesting write up over at Backyard Shooter about Bitcoins…. specifically, if they will be a means for unregulated, and untraceable […]

  2. Derek says:

    Guns have already been bought and sold using BC, in addition to drugs or anything else you might consider illicit. As to the anonymity of BC, if you’re not trading info via Craigslist or something, it would require a near monopoly on the BC market to figure out who’s tied to a given transaction. The system encourages users to further distribute and “break up” transaction processing making it harder to monopolize.

    I don’t see it dying any time soon. If China can’t stop it’s people (not really “citizens”, are they?) from using darknet protocols and BC, the US doesn’t stand a chance either. You have to “turn off” the Internet to stop it, which worked in Egypt, but they only had 4 top-level ISPs to shut down. US Internet is just too open, too many paths out onto the greater Internet.

    As far as legality goes, while it’s certainly been made illegal to provide the Federal Reserve with domestic competition in the form of creating a private currency, I don’t know how you could go after individuals bartering goods for imagined value without going after any kid who ever traded Pokemon cards.

    • Thanks for the comment. You seem to understand it a lot better than me. But now I think I understand it a little better and it makes sense. Seems like it would be an extremely difficult thing to control.

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