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Title: Appears Coinbase has turned an agent of the anti-civil rights US government Post by: TheButterZone on June 20, 2015, 01:36:50 AM Wasn't sure about throwing this in Press, as it's not a bitcoin or mainstream media source.
Quote from: https://www.firearmspolicy.org/news/blog/coinbase-no-bitcoins-for-gun-related-retailers/ So basically, Coinbase changed their policy and didn’t tell anybody. They simply shut down the accounts of any firearms-related dealers who were doing business with them. They lacked the courtesy to even send us a letter or email after the fact. This was the only mainstream Bitcoin processor that we know of that did business with the firearms industry. The Obama administration’s Operation Chokepoint seems to be having its intended effect. We will have to stop accepting Bitcoin because we now have no other Second Amendment-friendly Bitcoin processor to turn to. tl;dr 80% Arms doesn't actually sell guns, Coinbase choked their BTC revenue stream anyway, just as the government wanted them to. local rule: no anti-civil/human right to self-defense replies, they will be deleted. Title: Re: Appears Coinbase has turned an agent of the anti-civil rights US government Post by: TECSHARE on June 20, 2015, 03:09:29 AM Wasn't sure about throwing this in Press, as it's not a bitcoin or mainstream media source. Quote from: https://www.firearmspolicy.org/news/blog/coinbase-no-bitcoins-for-gun-related-retailers/ So basically, Coinbase changed their policy and didn’t tell anybody. They simply shut down the accounts of any firearms-related dealers who were doing business with them. They lacked the courtesy to even send us a letter or email after the fact. This was the only mainstream Bitcoin processor that we know of that did business with the firearms industry. The Obama administration’s Operation Chokepoint seems to be having its intended effect. We will have to stop accepting Bitcoin because we now have no other Second Amendment-friendly Bitcoin processor to turn to. tl;dr 80% Arms doesn't actually sell guns, Coinbase choked their BTC revenue stream anyway, just as the government wanted them to. local rule: no anti-civil/human right to self-defense replies, they will be deleted. This is why regulating Bitcoin is equivalent to destroying it. As soon as you make it part of the system, it becomes the system, and the inherent value it had of being independent of the system is destroyed. The solution is to use Bitcoin MORE, not less, and do more person to person trades. This is a perfect example of banks writing regulations to protect themselves from overreaching government imposed liability, and as a result your legal rights are stripped by denying you the ability to do commercial trade in stead of openly denying everyone their second amendment rights. In effect they can deny people any rights by denying people the ability to trade, as everything is commoditized now days and there is literally no exchange that does not constitute a commercial transaction. I think this is a worthy reason to boycott Coinbase, regardless of how much of a standard industry practice this is. Force these 3rd party services to lobby for your freedoms, otherwise they wither and die from lack of use. Title: Re: Appears Coinbase has turned an agent of the anti-civil rights US government Post by: Rmcdermott927 on June 20, 2015, 03:15:53 AM Wasn't sure about throwing this in Press, as it's not a bitcoin or mainstream media source. Quote from: https://www.firearmspolicy.org/news/blog/coinbase-no-bitcoins-for-gun-related-retailers/ So basically, Coinbase changed their policy and didn’t tell anybody. They simply shut down the accounts of any firearms-related dealers who were doing business with them. They lacked the courtesy to even send us a letter or email after the fact. This was the only mainstream Bitcoin processor that we know of that did business with the firearms industry. The Obama administration’s Operation Chokepoint seems to be having its intended effect. We will have to stop accepting Bitcoin because we now have no other Second Amendment-friendly Bitcoin processor to turn to. tl;dr 80% Arms doesn't actually sell guns, Coinbase choked their BTC revenue stream anyway, just as the government wanted them to. local rule: no anti-civil/human right to self-defense replies, they will be deleted. That's the great thing about BTC. You don't really need an outside party to accept BTC payments. The people who run that company can easily hire a programmer or use one of the readily avalable tools to accept payments directly to their own Bitcoin wallet. Title: Re: Appears Coinbase has turned an agent of the anti-civil rights US government Post by: TheButterZone on June 20, 2015, 03:45:03 AM Wasn't sure about throwing this in Press, as it's not a bitcoin or mainstream media source. Quote from: https://www.firearmspolicy.org/news/blog/coinbase-no-bitcoins-for-gun-related-retailers/ So basically, Coinbase changed their policy and didn’t tell anybody. They simply shut down the accounts of any firearms-related dealers who were doing business with them. They lacked the courtesy to even send us a letter or email after the fact. This was the only mainstream Bitcoin processor that we know of that did business with the firearms industry. The Obama administration’s Operation Chokepoint seems to be having its intended effect. We will have to stop accepting Bitcoin because we now have no other Second Amendment-friendly Bitcoin processor to turn to. tl;dr 80% Arms doesn't actually sell guns, Coinbase choked their BTC revenue stream anyway, just as the government wanted them to. local rule: no anti-civil/human right to self-defense replies, they will be deleted. That's the great thing about BTC. You don't really need an outside party to accept BTC payments. The people who run that company can easily hire a programmer or use one of the readily avalable tools to accept payments directly to their own Bitcoin wallet. Need to ask 80% Arms if they want fiat instantly above all, or if they want to take the exchange rate risk and hold BTC long enough to pay suppliers and/or customers (though if they're not buying customers' used guns with fiat for resale in the first place...) Title: Re: Appears Coinbase has turned an agent of the anti-civil rights US government Post by: TECSHARE on June 20, 2015, 04:44:42 AM Quote Under the program, called Operation Choke Point, banks and other financial institutions were reportedly pressured to cut off accounts for targeted businesses. This included gun stores, casinos, tobacco distributors, short-term lenders and other businesses. So there are companies operating legally and they are being blocked by financial institutions? I don't get it. Let me sum it up for you. The government imposes over reaching and impossible to comply with money regulations regarding KYC and MLA compliance for certain industries. Not complying with these regulations causes them massive liability, therefore they choose to shut out said industries rather than take on the liability and cost of trying to comply with impossible regulations. Title: Re: Appears Coinbase has turned an agent of the anti-civil rights US government Post by: TheButterZone on June 20, 2015, 04:55:36 AM The plot thickens: CEO of Vindicia says "I have some work to do..." http://twitter.com/hoffmang/status/612112171988705280
Title: Re: Appears Coinbase has turned an agent of the anti-civil rights US government Post by: bitnanigans on June 20, 2015, 03:05:14 PM I've never really liked Coinbase anyway. The great thing with bitcoin is that there are always alternatives.
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