CHICAGO— MasterCard Inc. said it has stopped processing ad purchases on Backpage.com, as payment-card networks become the latest front for public officials trying to crack down on the adult section of the controversial classified-ads website.

Won't affect me.

Backpage accepts bitcoin. The government may be able to pressure the banks and cc companies into doing its bidding but since bitcoin is not a discrete enterprise it can not be coerced. Cutting off BP from bitcoin would be problematic without causing collateral damage.

anyonr have resources for learning about Bitcoin?

The only value in "bitcoins" is if other accept them - however, unlike cash, savy mathematiical computer whizes can manufacture them - how long do you think it will be before this becomes so widespread that thay all become worthless?

Posted By: EnigmaticGoddess

It's worth looking into, accepting bitcoin but it would be a transaction like a deposit and we know how some of the guys feel about that.... I know nothing about how it all works though, so I could be wrong. Wouldn't be the first time and certainly won't be the last. lol  
   
 Definitely curious as to what the guys think about bitcoins as payment though.

There is no upside in thumbing your nose at the government, especially the IRS and painting a target on your back. Almost every government in the world is against bitcoins. I have enough problems in my life without inviting the IRS to give me annual audits for life.

The IRS has a MAJOR hard on for bit coins and not just the IRS in this country. You never WIN an audit, the very best you can hope for is to run up a bunch of expenses and end up with a draw. IMO anything that increases your chances of an audit is a BAD thing. Using bitcoin will definitely get you on the radar of the IRS. Even if everything else about it was just as advertised, will still pass on them simply for that reason alone.