As soon as I can provide more information I will - but I'd prefer not to give anything detailed until it's finally agreed : better to say nothing than say something which later has to be retracted. I can confirm all investors would be able to trade without providing ID as that's a precondition on me moving DMS to ANY exchange. So if it doesn't allow that then we wouldn't list there.
Deprived, I am just happy we are going somewhere! Don't really care about the verified ID stuff, you know sooner or later ALL countries will be requiring it. Bankers/politicians need their pound of flesh. Just one question though. What happens when MINING = zero? Do you shutdown this fund and start with a new one? You have really been conscientious and certainly someone we can trust through this whole mess. |
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Rastapool, have not seen any dividends on RTM at Bitfunder since the 11th of October?  Could you tell us what is happening?Thank you. I reread the prospectus which stated "dividends to be paid weekly or sooner". Sorry about that. |
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Is this version for Windows supposed to be 64 bit? My Win7 installation saves it in the 32-bit subdir and states in TaskMan that it is 32-bit, along with bitcoind.
Thank you
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Well, add Dwolla to the list also:
Dear Dwolla Account Holder,
As you know, Dwolla does not sell, accept, mine, value, take possession of, or hold Bitcoin or any other virtual currency product, and none of Dwolla’s users transact business with Dwolla using Bitcoin or any other virtual currency product. However, recent interest involving virtual currency and its exchanges has created uncertainty and confusion around virtual currency, and Dwolla's relationship with a small number of its exchanges. This has forced Dwolla to reassign resources, funds, and services.
As Dwolla gears up for a new stage of growth, we recognize that we can no longer sustain this merchant base (.1 percent of Dwolla merchants) and its unique needs, and that attempting to do so jeopardizes both of our communities' starkly different, but similarly ambitious, vision for improving payments.
Effective October 28, 2013 at 4pm CT, Dwolla will be withdrawing its service offerings to virtual currency exchanges and virtual currency related services.
What does this mean?
• Your account, and its functionality, will remain unaffected. However, you can deactivate your account from within your Dwolla dashboard, if you so choose.
• Dwolla aims to provide its users and the few affected merchants with the guidance necessary to ensure a smooth transition. To do that, we encourage users to over-communicate with our support team, report any suspicious activity, and revisit our terms of service to ensure uninterrupted services.
What is the timeline of events?
1. October 10: Only existing users with a 30-day history with Dwolla will be able to send funds to merchants affected by this change.
2. October 15: Affected merchants will be limited to sending money only, and will no longer be able to receive funds from customers. They will be able to issue refunds to customers at this time.
3. October 28: Affected merchants’ accounts will be suspended. No further activity will be provided.
4. October 29: Provided no security or fraud concerns, Dwolla will transfer any of the remaining funds inside the affected merchant's Dwolla account to its linked bank account.
The decision to remove anyone from the network -- no matter the circumstances -- is not something Dwolla takes lightly. We are grateful for the opportunity to service and learn from these users. We wish the community and its pioneers the best.
Sincerely,
Dwolla Support
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id feel sorry but your American so...HAHA... really the way your people screw over everyone else in the world... the main ones BP, but theres others.... the people are ok well except the retards with the guns who think its a god given right to run around with them...
My apologies but my reasons for writing this post was to vent my frustrations and see if someone had any idea on a workaround. I can bash my own government as I live here and have voted for these idiots. In your case, you are just a troll with no obvious ideas of merit. So poof you are now ignored. PS> I am one of those gun-toting idiots as you so eloquently put it. Try earning the skills to destroy an orange at 400 meters as I can. I will be able to feed myself no matter what happens politically, while you will get a hernia merely walking to the grocery store, if it still exists! |
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It would be nice to find out why Burnside decided to throw in the towel before considering this. If it's because he doesn't have a broker/dealer license, that is something that can't be fixed overnight.
Because if he sells the functioning exchange itself he has significantly more legal liability. Apologies, I understand why he is selling just the code etc... My question, as someone who is interested in buying the code, is what prompted Burnside to close in the first place. Was it SEC or FINCEN stuff, or the LABCOIN IPO, or some other personal reason? I am guessing it was the first item, as I just received a notice from Dwolla that they are severing all times with the Bitcoin community. Oh, it's getting more "interesting" by the moment! In another post I authored, someone mentioned Ripple could be used for a distributed stock exchange. Sorry not familiar with it. Worth considering? I am sure Deprived would like to keep this thread strictly for DMS. So the other thread is: https://bitcointalk.org/index.php?topic=308012.msg3315889#msg3315889 |
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It would be nice to find out why Burnside decided to throw in the towel before considering this. If it's because he doesn't have a broker/dealer license, that is something that can't be fixed overnight.
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To run a proper Bitcoin exchange in the US, you need to register with the SEC as a broker/dealer. That lets you accept trading transactions for anything tradeable. A "broker", under US law, is "any person engaged in the business of effecting transactions in securities for the account of others." It includes "persons that operate or control electronic or other platforms to trade securities". There's some argument over whether Bitcoin is a "security", but if you're registered as a broker/dealer, that takes care of that problem. Every brokerage in the US, big or small, has been through this process. One way to do this is to buy an existing small broker/dealer. Here's a list of broker/dealers for sale. For $105,000 someone could buy an inactive broker/dealer registered in 19 states. That takes care of most of the registration problems. All the registration info will have to be updated, but that's easier than doing this from a cold start. The name of the company can be changed at this point if desired. Thanks for the info. It looks like a firm with less than $1Mil can do all of the FINRA filings for roughly $20K. But once you break that $1Mil mark but less than 25Mil gross, you will need to pay up to $3Mil per year and up to 75cents per transaction. The gentleman in Georgia is using the single state loophole. At least it is a way to get the ball rolling and find out how much volume you will wind up doing. And, of course, build up your funds so you can hire all of the regulatory personnel, etc.... Interesting reading, I appreciated it. |
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That's not to say that Bitcoin won't someday be declared a security -- either that or a commodity -- to put it under some regulatory rubric but, as of right now, it is not.
So when the judge in "pirate at 40"'s case ruled that the government does have a right to prosecute because bitcoins were a commodity similar to gold or silver, this does not change the rules at all? |
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Look on the bright side, at least you can claim Capital Losses because of the US interfering and maybe get a refund this year  I wish! With the judge in Texas ruling BTC a commodity, there is no capital losses. Merely income or lack thereof. No downside for the IRS, only upside. |
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It is a sad fact that many people rely on regulation as a measure of legitimacy. This is one of the biggest problems with the U.S. political/economic system, and it the primary cause of the economic problems in the U.S. Simply accepting this situation as unavoidable (or worse, necessary) will lead to the eventual downfall of the U.S
Eventual? Hah. It is already here. Once the US decided to give up all manufacturing znd become a 'service' economy, we were and still are relegated to second-tier status and are really bordering on third-world status. People can argue that point all they want, you just needto look at the growth of slums and the lack of interest in maintaining the infrastructure. |
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You can move to the Cayman Island. No one says that you have to live in the USA, you can leave anytime.
It actually takes quite a bit of funds to pick up and move, especially if children are involved! There will be a period of approx. 3-4 months with no income until employment is found. Although some people can actually make a living at trading bitcoin stocks, going broke is rather easy! On the upside, the next stock market will have to ban trading robots. I was fighting one on Bitfunder recently maybe it will choke on the assets it is snapping up! Robots require trading volume to make money and since Bitfunder will have very little volume....... Getting off my soapbox now. Actually, since the SEC shutdowns are all about fiat taxes, wrapped in the disguise of national security, how does one collect and distribute taxes? I was thinking a flat rate tax to be distributed equally among the nations recognized by the UN. Small nations get a healthy influx of cash and larger nations get the same amount. Taxes to be collected monthly based on starting balance .......... Will have to work on this, tooo early for all the math. |
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something is wrong with the site, i'm not in US but its blocking my buy orders and giving the message "US Users may not Buy"
I think it is a general stoppage until everyone gets their identification straightened out. I tried creating an account from my friends computer in France and no luck either. |
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go trade in havelock and 796, I guess those are the only options left.
Havelock = 12 stocks 706 = 2 stocks, themselves and Asicminer. Not a lot of choices!! |
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Anyone know what kind of verification is required?
Driver's license 50, passport 40, utility bill 25, credit card 25, you have to make 100 points. Login to weexchange.co and select the field "Unverified". It will give you the list of items. |
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Why is this site going down?
I don't think anyone knows, Ethan Burnside is being very closed mouth about it. With all of the trolls out here who have ripped him badly, I would have closed down also. You would think if the guy is helping you make money (coin), people would show a little gratitude not whip out the chainsaws! |
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Didn´t work for me neither. Any other ideas? Not the best moment to loose his domain I´d say. ^^
In order to change the hosts file you have to open the command prompt with 'run as administrator' (Windows 7) or be logged in as the Administrator (for older flavors). |
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Luckybit, I just had an idea! How about starting a Kickstarter project to fund the creation of the decentralized stock exchange? Wouldn't that be a sharp stick in the eye. Can a non-US citizen start something on Kickstarter? Even better if someone decides to 'kill' the project then the media can get involved.  ROTFL |
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Is anyone able to buy anything on BitFunder? I don't recall ever telling them what country I'm in, but it says I can't buy any shares. That makes me wonder who it is that's actually buying up these shares at hugely discounted prices...
Sorry not able to buy anything, I guess all of the folks in England are snapping these up. |
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I will have to read the two topics you sent. I know you can do small messages in the blockchain now...... Will have to blow the dust off the compiler and get my C programming skills back in order. Thanks I needed a new project! |
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