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Payza is a payment processor, it used to be AlertPay
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Now the pizza is worth $2500, anyone would like a bite? It's gonna cost you bitcoins  |
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There was a big article in DN january 7th 2012: 1, 2, 3, 4, 5, 6, 7 |
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Now $2k... would be great if somebody with some reputation could do this trade.
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Good stuff, thanks for the upload.
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Is this posted online somewhere? Would like to see it.
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I now have $1500 that I would like transfered.
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bump  |
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bump |
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I believe the lack of free market actually forces people to come up with solutions to the problem that is "government". Fortunately bitcoin evolved, but without the "government" being in the equation what would be the need for bitcoin? It could protect against failure of centralizated entities, but I think the motivation to create bitcoin when you are not being suppressed wouldn't be all that great.
E-currencies such as e-gold would have worked great in a free market without government interference. Since e-gold was shut down by government, bitcoin came to take it place.
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Why on earth would you want to regulate your otherwise free business through making a company subject to stupid laws, regulations, taxes and accounting obligations? (yeah yeah, you're still technically subject to them anyways, but isn't that the whole point of bitcoin? Having business freedom?)
Because the majority of customers and businesses are law-abiding in their country. If you want to reach a mass of customers, you play by the rules. It matters when your business needs to be involved with non-bitcoin businesses, true, however with bitcoin only business you can still reach mass customers (limited by the bitcoin market of course) without being legal. |
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I already own one company and will be probably launch another for my upcoming bitcoin business, however the only reason I choose to do that is because I need to deal with non-bitcoin providers. I really don't have much choice, it's either that or nothing. I'm a strong believer in the counter-economy, the black market, agorist trade and will embrace and support those who take this route.
Why on earth would you want to regulate your otherwise free business through making a company subject to stupid laws, regulations, taxes and accounting obligations? (yeah yeah, you're still technically subject to them anyways, but isn't that the whole point of bitcoin? Having business freedom?)
If anything I think it will be easier for your government to shut you down if you're running a business. E-gold?
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Ah, I know now why there you need to confirm that you are not a US citizen for all European online stock trading sites.
Bitcoinica was a registered financial service provider under New Zealand law. Anybody knows how that worked for them?
Are there any other experiences with setting up such a company in another country?
Torland seams the most Bitcoin friendly, unfortunately that scares off a big part of the user base an endangers you of Mtgox freezing your assets.
But I get a feeling now why Bitcoinica is offline for such a long time and nobody came up with a successor so far. It's not the programming work which prevents it happening I guess.
It's not possible to run one anonymously (mybitcoins.com as an example of what happens). E-gold is an example of what happens when you run something non-anonymous. What makes you think running an anonymous business is impossible? As long as the operator behind it is honest and perhaps well paid through fees I don't see why he would want to, nor have any incentive to scam people. What happened to your believe in anonymity anyways? If I recall you seemed to be quite big on being anonymous on this forum back in the day. |
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The first thing to keep in mind, you must block and refuse all business with US clients. I recommend using some GeoIP blocking on your websites to simply drop all US traffic and make sure you don't have any servers in US or US owned domain TLD. Do not use paypal or other US located businesses, nor e-mail providers (or anything else) located in USA. FIN-2012-A001
Issued: February 15, 2012
Subject: Foreign-Located Money Services Businesses
On July 21, 2011, the Financial Crimes Enforcement Network (FinCEN) published in the Federal Register a final rule on definitions and other regulations relating to money services businesses (Final Rule).1 The Final Rule amended the definition of "money services business" at 31 CFR 1010.100(ff). An entity may now qualify as a money services business (MSB) under the Bank Secrecy Act (BSA) regulations based on its activities within the United States, even if none of its agents, agencies, branches or offices are physically located in the United States. The Final Rule arose in part from the recognition that the Internet and other technological advances make it increasingly possible for persons to offer MSB services in the United States from foreign locations.2 FinCEN seeks to ensure that the BSA rules apply to all persons engaging in covered activities within the United States, regardless of the person's physical location.
FinCEN is issuing this Advisory to advise financial institutions of their obligations under the BSA when providing financial services to foreign-located MSBs. Financial institutions should note the following:
To qualify as an MSB, a person, wherever located, must do business, wholly or in substantial part within the United States , in one or more of the capacities listed in 31 CFR 1010.100(ff).3 Relevant factors include whether the foreign-located person, whether or not on a regular basis or as an organized or licensed business concern, is providing services to customers located in the United States.
Foreign-located MSBs are financial institutions under the BSA. With respect to their activities in the United States, foreign-located MSBs must comply with recordkeeping, reporting, and anti-money laundering (AML) program requirements under the BSA. They must also register with FinCEN.4
Foreign-located MSBs are subject to the same civil and criminal penalties for violations of the BSA and its implementing regulations as MSBs with a physical presence in the United States.
The Final Rule requires each foreign-located MSB to appoint a person residing in the United States as an agent for service of legal process with respect to compliance with the BSA and its implementing regulations.
The Final Rule became effective on September 19, 2011. Reporting, recordkeeping and AML program requirements under the BSA now apply to foreign-located MSBs. However, registration and the appointment of an agent for service of legal process will not be required until the revised registration form is available, which is currently planned for release in early March 2012.
Guidance
Financial institutions may find it necessary to update their AML programs if they provide financial services to foreign-located MSBs or engage in financial transactions with these entities.5 Financial institutions may find previously issued Guidance and Advisories helpful when incorporating foreign-located MSBs into their AML policies and procedures. In 2005, FinCEN and the federal banking agencies issued guidance (Joint Guidance) on providing financial services to MSBs operating in the United States.6 Additionally, financial institutions may find FinCEN's 2010 Advisory on informal value transfer systems (IVTS) to be useful in determining if their customers are operating as unregistered money transmitters.7
Suspicious Activity Reporting
Consistent with the standard for reporting suspicious activity under the BSA, if a financial institution knows, suspects, or has reason to suspect that a transaction conducted or attempted by, at, or through the financial institution involves funds derived from illegal activity or appears to be indicative of money laundering, terrorist financing, or other violation of law or regulation, the financial institution should file a suspicious activity report (SAR).8 As noted in the Joint Guidance, financial institutions that provide banking services to MSBs should file a SAR if they become aware that their customers are operating as unregistered or unlicensed MSBs.9
Questions or comments regarding the contents of this Advisory should be addressed to the FinCEN Regulatory Helpline at 800-949-2732. Financial institutions wanting to report suspicious transactions that may relate to terrorist activity should call the Financial Institutions Toll-Free Hotline at (866) 556-3974 (7 days a week, 24 hours a day). The purpose of the hotline is to expedite the delivery of this information to law enforcement. Financial institutions should immediately report any imminent threat to local-area law enforcement officials. More: http://issuu.com/dgcmagazine/docs/digital-gold-currency-mag-november-2011?mode=window&pageNumber=9I remind you that the man behind Liberty Dollar was described as a "domestic terrorist" trying to undermine the entire U.S. financial system. Who knows, maybe you'll be considered a terrorist too.. |
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Here is my current setting page, please let me know if there is anything important I have forgotten.  Closing in on this now, guess we'll have to see who finishes off first, I will complete it regardless. As for the price, currently I have created a cron job, so I'm thinking it could run every 10 minutes to fetch price from mtgox. As you can see I have also added some minimum and maximum prices to protect shop owner from potential flash crashes in the market. The script automatically creates the BTC currency, and if you choose to disable mtgox price fetch you may adjust the price manually in the currency section of open cart, otherwise it will be updated through cron. Any comments on this solution is welcome, I'm open for any suggestions. |
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I'm getting close to finish, coding this atm.
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I'm just wondering though how many of the bettors would've paid up, if they lost. I find it hard to think 100% would pay. After all, how much is a forum account worth, and
an anonymous one to boot ? This implies that you would steal if there was zero or minimal risk of getting caught. Maybe I'm naive, but I tend to believe the kind of people bitcoin attracts (anarcho-capitalists, liberterians and so forth) are generally very honest people that for moral reasons would have paid up (regardless of their reputation). I know for a fact I would. And this fact alone makes it very unlikely that I can ever trust MNW again, perhaps if he paid everyone what they are rightfully owed. As for a scammer being an asset to the community, maybe, I mean, Bruce Wagner engaged the community with his bitcoin show and meetups and could have been thought of as an asset in that way. However when his history was exposed his entire credibility went down the drain and he hasn't been doing any since then. I think at least Bruce Wagner has served his time right, he might deserve a second chance, but MNW, he is never going to be punished for this, and unless he pay what people are owed, I think he is not worthy of a second chance. The community is better served with honest people than scammers imo. |
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I'm glad the government doesn't run bitcoin, otherwise this Matthew Wright douchebag would be president.
+1000 |
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The silly logic of Matthew N. Wright:  It's not really funny though, I would have paid if I lost, I'm sure most would. This is nothing other than scamming, pirate and mnw, not much difference. I'm sure he would have gladly taken those 80k BTC if he won. |
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