I'm aware of that, again, bitcoin will make the process of proving that impossible, using an anonymous way of communication and a mixer.
The burden of proof lies with the exchange, not the SEC. The exchange (or asset issuer) would have to prove they take measures against selling to US customers, directly or through a proxy. What you are suggesting would make it impossible for them to prove that. That may or may not get the exchange of the hook, it sure as hell wont get you off the hook. But perhaps you have a better legal team than bitfunder and dont mind taking on the SEC ?
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Moving to yet another exchange isnt going to solve a thing, they will fold and block US citizens one after the other. And after US, they will block other countries when those security commissions wake up and smell the coffee.
Why not make it legal? AFAIK, registering a security with the SEC isnt so hard.
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As a non US citizen in a country that will discover bitcoin in about 10 years or so, I offer my services to be a proxy for US citizens portfolios. Before doing that, I would advice you to read the SEC regulations: http://www.sec.gov/rules/interp/33-7516.htmWhat you suggest doing isnt any less illegal than what bitfunder and btcst where doing, no matter your nationality, and if bitfunder doesnt take any reasonabl action to prevent you providing a proxy, they will be just as liable again as well.
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Does this run the risk of making ActM itself in violation of US law? Which unfortunatly happens to be grounded on US soil...
I thought it was based in belize. But unfortunately, it doesnt change anything. What is illegal is targeting unregistered securities to US citizens. Doesnt matter if the securities are shares in a US or Belize company. The only way around that is registering the securities with the SEC (and every other national security commission where you want to sell shares, the regulations are quite similar all over the world).
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i'm no longer pissed off at labcoin, i'm pissed off at mylseff for ever investing in stocks in these securities websites, look whats happened to bitfunder....crash!
Gee, Im shocked. Who'd have thought SEC regulations would apply to bitfunder too? If you think this is messy, just wait until asset issuers open their mailboxes and find some letters with a blue/yellow eagle in the letterhead. But yeah, all the SEC talk was just bullshit, right?
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It makes it compliant with SEC regulations, as they would no longer be considered targeting US investors with their unregistered securities.
complete bullshit the fact that they allowed US residents/citizens to purchase unregistered securities in the past makes them non-compliant. You can't sell a bunch of securities, then force the US citizens to give up their shares at a fraction of the cost, and claim to be SEC compliant. well, then sue them or file your complaint with the SEC. They broke the law but at least will stop from breaking US security laws in a month. They will only be breaking almost all other security laws. Just dont act surprised, this was a long time in coming. Wonder how long it will take before the asset issuers get some letters.
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And does this make Bitfunder "legit"?
It makes it compliant with SEC regulations, as they would no longer be considered targeting US investors with their unregistered securities. Of course the same regulations exist almost everywhere else, today its US citizens being blocked, tomorrow it will be UK, France, Hong Kong, whatever .. Anyone who is shocked by this, hasnt been reading. Its not like I didnt say this a million times: https://bitcointalk.org/index.php?topic=130117.msg3249207#msg3249207
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Those KnCs dont seem to be making a dent yet.
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You can setup backup pools the same way you do normally in CGminer.
There's no GUI for the OS (angstrom linux) in this case so no teamviewer type app. SSH is the way to go.
Has anyone tried cgwatcher ? https://bitcointalk.org/index.php?topic=185553.0Does it work remotely? I never tried it, but it says it does. The "CGRemote" at least.
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You can setup backup pools the same way you do normally in CGminer.
There's no GUI for the OS (angstrom linux) in this case so no teamviewer type app. SSH is the way to go.
Has anyone tried cgwatcher ? https://bitcointalk.org/index.php?topic=185553.0
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BTW, hows the steering committee / advisory board coming along? Cant underestimate how important that is.
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I love sipa's charts: http://bitcoin.sipa.be/but they go "off the chart" most of the time. Does someone know of a good alternative, one with similar resolution and log axis?
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Actually, the SEC may well be the only realistic option to get at least some of your money back: http://en.wikipedia.org/wiki/Fair_FundAs for waiting. Sure, go ahead and wait. Im not sure how the current October 15th promise differs from all the previous missed deadlines and promises, nor do I understand what more evidence anyone could possibly want this is a scam, but be my guest. See bitcoindaytrade to see how long Armandi will keep pushing deadlines and keep pretending its not a scam. People will be posting here a year from now and nothing will have changed.
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omg, this shit again. SEC = USA. i honestly don't understand how people seem to miss a step in their thinking
omg this shit again. The authority of the SEC relates to where the securities are being sold/targetted. Not the country of origin of the seller nor the object of the security: http://www.sec.gov/rules/interp/33-7516.htmSo yes, this is well within SEC authority, since no reasonable measures were taken to prevent US investors from investing in this, but by all means contact your local security commission if you prefer.
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I agree with you on reporting to SEC is a good idea.
I just cannot agree that if a company and the name of its legal representative are listed on the IPO contract and this IPO turns out to be a scam, this company and its founder can be free from even investigating by just saying he is innocent.
That's ridiculous. Then what's the point to list any company name and human name in the contract? If this is allowed, I think there should NOT be any IPO allowed in bitcoin exchange at all. It is encouraging scam rather than honest business. If it is really the current situation, then we either need to change it or be better never touch bitcoin funds since now.
News flash: it isnt allowed. There is a reason SEC regulations require you register these contracts. Otherwise anyone can issue fake stocks, see the fake Cointerra IPO on picostocks as a recent example. Are you going to sue Cointerra over that?
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Fabriazio admitted himself he has signed a contract, Correction; some anonymous forum members (including yours truly) claim that someone who appeared to be Fabrizio claimed that on IRC or through facebook/G+. You will need something better to convince a judge that he really is behind all this. and Howard met him face to face. See above. Whether to report to SEC or police does not matter. Why not just report to both? Dont ask me, I suggested duped investors do that a long time ago. Just dont hold your breath for anyone actually doing it; afaik the only bitcoin scammer that really is in legal trouble is Pirate. And guess who is to thank for that? Indeed, the SEC. Im not even sure anyone else filed a complaint.
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They claimed to collect 7000 BTC for mass production of gen1 chips and design gen2 chips. If we can prove these BTC are not used in these two purposes, In fact, we can actually prove they did spend some money to develop these chips (cf Howard wang and TheSeven) and they could easily argue that development is ongoing. Missing deadlines and being or hiring incompetent people is not a crime. Selling unregistered securities however, is. As is making materially incorrect statements in your prospectus. But those are SEC issues. Fabriazio is deceiving since he is the legal representative of the company that initiating this (virtual) IPO.
How would you prove that? The IPO was done by "sam", no one knows who he is or if he even exists. How do you prove Fabrizio is even involved? Dont get me wrong, I have no doubt he is involved, as is Alberto, but IMO you will not be able to prove this without getting the SEC involved and subpoena BTCT. Those documents that were published dont prove a damn thing, I dont even see Fabrizio's signature on there. Anyone could produce those.
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