Digital Currency Business E-Gold Pleads Guilty to Money Laundering and Illegal Money Transmitting Charges

E-Gold Ltd. (E-Gold), an Internet-based digital
currency business, and its three principal directors and owners,
pleaded guilty to criminal charges relating to money laundering and
the operation of an illegal money transmitting business, Acting
Assistant Attorney General Matthew Friedrich for the Criminal
Division and U.S. Attorney for the District of Columbia Jeffrey A.
Taylor announced today.

…

In addition to the fines and prison sentences, each of the
defendants agreed that E-Gold and Gold & Silver Reserve will move to
fully comply with all applicable federal and state laws relating to
operating as a licensed money transmitting business and the
prevention of money laundering which includes registering as money
service businesses. Also as part of the plea agreement, the
businesses will create a comprehensive money laundering detection
program that will require verified customer identification,
suspicious activity reporting and regular supervision by the
Internal Revenue Services (IRS) Bank Secrecy Act Division, to which
the Financial Crimes Enforcement Network delegated authority
according to federal regulations. E-Gold and Gold & Silver Reserve
will hire a consultant to ensure their compliance with applicable
law and hire an auditor to verify the companies claims that all
transactions are fully backed by gold bullion.

Verified customer identification and supervision by the IRS defeats the entire purpose of an anonymous, digital currency. Does this remind anyone else of A Lodging for Wayfaring Men (except money laundering, instead of treason)?

Last May, DD-WRT released the (long in development) v24 of their firmware. I had been running one of the release candidates for it on my Linksys WRT54GL, but decided today to upgrade to the stable release. I downloaded the appropriate file (dd-wrt.v24_std_generic.bin), followed the instructions for flashing through the web GUI, and promptly bricked the router.

It wasn’t totally destroyed. I could still ping the router, but couldn’t access it in any other way. The power light would flash repeatedly, and no other lights came on. No amount of hard resets would fix it.

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I’ve returned early from Spain, arriving in the States last night.

I walked only about 110 miles on the Camino de Santiago, from St. Jean-Pied-de-Port to Logrono, before deciding that it was time to come back. During my short time on the walk, the Camino gave me what it could, and I gladly accept the gift, but I felt the remaining miles had nothing more to offer.

Following the Camino’s yellow arrows day after day, while comforting in their promise of direction and safety, is too structured an experience. This, the cultivated landscape, and the crowds of walkers contribute to a feeling of limitation.

I seek to find my own paths, and to forge my own way. Only by traveling into the unknown can we explore our selves. And so, despite the cultural differences, despite the linguistic barrier, and despite the unknown country, I think the Camino is flawed. There are no yellow arrows for the mind, save for those we paint our selves.

For me, it must be a journey wilder than this. One for which I do not have my way painted upon the landscape. A journey in which I am dependent on the self, alone in a solitary wilderness. To explore that is to touch the crevices of consciousness, running one’s finger upon the peculiar bumps of its surface.

From the 21st of June till the 1st of July, I walked, taking a day off in Pamplona and in Viana. In Logrono, I spent 3 nights before taking a train back to Madrid, where I’ve been for the past week.

I continue my pilgrimage elsewhere.