(note: what i say next is not legal advice, just a tip)
stick to the under 1k FIAT per person per day rule and localbitcoins, bitcoin otc will have no issues as there no ID required and no regulation, as its classed as personal transactions not business transactions

can all the sofa anarchists please stop it now.

fincen do not control the australian dollar, the yen, the euro, the pound, the rupee, etc etc. they only control the american dollar.

so get your head out of the sand.. fincen only want to regulate the FIAT which places like liberty reserve, bitstamp, mtgox, bitinstant, etc touch.. because its dollars and it involves bank accounts.

they cannot stop bitcoin nor do they want to.

so i personally say. let them control the bank accounts of FIAT to ensure teentrepreneurs (teenage amateur entrepreneurs) with no finance experience dont attempt to open exchanges without licences which ends up with them running off with other peoples FIAT cash.

and leave bitcoin to be free

the simple path.. allow the banks /governements to regulate the bank account holders of FIAT. which includes liberty reserve and other FIAT handling exchanges that are within bitcoin community(as the FIAT has to sit in an account somewhere)

but to leave pure bitcoin users alone.

fincen only control US dollar. they do not control EURO, australian, japanese, UK FIAT.. so dont even give them the opportunity to control bitcoin

lol

let the banks regulate the fiat, and freeze accounts of child pornographers. leave the rest of us legit people to send bitcoins to each other without red tape.

i cant wait to be fully free of a bank account, even if i dont have any worries of my accounts being frozen

banks are not too big to jail. just well placed to do the actions of the account holders. namely government offices.

banks only receive money and send money. its the account holders that meant to go to jail for commiting crimes and a bank would be responsible if they were aware of the actions of the account holder, but not preventing it.

but what if the account holder was the department of defense selling jets to iraq under the orders of president obama as part of their developing relationships aiding iraq to set up their own police/defenses before removing the US soldiers out

it would read like this
Account holder: Barrack obama transfer 500million from saudi arabia (iraq new president off shore account)
products involved: ak-47, jet fighters, missile launchers.

what would the banks do? they have authorisation to let the money through, from the president. so the banks wont be jailed

if you deal with fiat and dont deal with regulation expect your bank account to be frozen.. .. but..only deal with bitcoin. they cant touch you.

fincen only care about fiat and bank accounts..

its not taking away any business from banks. when you put fiat into a payment gateway such as paypal. it sits in a bank account. banks love this as in the middle of the night they can play with your money on the stock markets making their profits in the miliseconds of the days. and you are unaware of this.

but putting fiat into an envelope to then send to another country does not allow the banks the same pleasure of playing with your money. so by bitcoin being the border crossing exchange changes this:

person A take money out of bank -> places in envelope -> send to another country -> poof bank note never seen by a bank again

into this
person A does bank wire to exchange in the same country -> money remains in the country -> bitcoins go where they want -> but fiat money still sits in the bank accounts of the same country

the only thing banks dont like is having to freeze accounts while DOJ/SOCA investigate it. because then even banks cant play with the money when its frozen. so do the banks a favour.. read the regulations about FIAT in your country, follow them and you will see that there is no big deal bitcoin related


again fincen is not after bitcoin people. they are after FIAT traders that are not licenced. the words virtual currency which they wish to regulate are the digital forms (virtual, not physical) of bank notes

worrying about the minute by minute high price changes will make your hair turn grey.

put into the prospective of the low price added to a chart and you instantly see its not as bad a scene as you first think.



the low price is what i use for the bases of natural growth.. the high price is pure speculation and profiteering.. so going by that logic i still see a healthy slow rise in the monthly price

(until the moment someone reads this and gets angry that i have cooled down the panic. and goes about on a crusade to dump the price on purpose)

may's low price for the month was $79 dollars..
April's low price for the month was $50 dollars..


so junes price still being well over May's low and sticking to the $100 price area means that the price is not really worth panicking over.

relax. and as mr Miagi says: danielson finance trading, like painting fense. it always Uppp Dowwwn uppp Dowwn.

now go paint all the fense untill you realise it always the same.

and as will smith more recently said "fear and panic is only in your mind. it isnt real"

lol wrong
he wrote the paper before 2009 because the paper was used to then make bitcoin which came out in 2009.. so dont confuse when bitcoin went live with when the paper was made/released

sure no problems

great advice "lawyer"

the only problem now is you will be ignored by finshaggy..

alot of people have asked him to develop his brain farts into proper business plans showing strengths weaknesses etc. but then he goes on a temper tantrum of insults because we are not instantly buying into his idea to instantly hand him money over.

so i just warning you now. try to emphasise the importance of developing an idea past a brainfart to him, but try not to sound like your bursting his imaginary balloon

the rest of the world wants knowledge of the reality of the world and limits of the project.

not the extra detail of the colours and the symbols on the flag of your utopia.. you may have more knowledge of how you want your town to be because your drugged hallucinations dreamed it up. but you do not show very much knowledge about the realities of the world/infrustructure/ basic requirements/ laws/ policies/ permits etc to make it happen

main paragraphs to research and change, due to lack of knowledge on the part of finshaggy

suggestion: look into freestate project. the comment finshaggy makes it to attempt to blindside people into believing to make a fully legal and established town is x amount of land and a hand full of people. the actual scenario is that this just alows them to name a plot of land. the laws and coverage of government control do not change.

next
this again is just for finshaggys stretch of land called masontown. no electric, water, internet will be secure on this land. and finshaggy will be the towns governor/owner/mayor of the land. deciding on who get plots, where he has been fully made aware of that community buildings/farms/solar fields take up space which reduces space left over for residences. so dont expect the $10,000 to end up as your own land under your own control. finshaggy has already stated voters can vote to utilise other peoples empty space for the benefit of the community.

next
this is the bit that finshaggy hides away from. his own total investmet fund of 3BTC (partly spent on silk road already wont be used for any of his projects. it will all be from potential residents paying him to control the town under his utopian dream. other people have made their suggestions and have been ignored. finshaggy is not a competent leader to be trusted with community funds

i would go on but i have at this point seen 5 other opportunities to facepalm his statements, and thus i give up trying t show the truth behind finshaggys brain fart

Edit thank you Elwar. you took over and done it faster, then where i was about to give up highlighting the fails

just read the webpage. seems your at an early stage. and your IT experience would have initially made me think your going to produce software/ web services revolving around bitcoin. EG a UK pound sterling version of bitpay.

but it seems you want investment to investigate tax.

i have been around long enough to have had lengthy talks with FSA, HMRC, a few banks, merchants. to have a reasonable opinion on where the UK stands at the moment in terms of bitcoin. knowing its positive points and things holding it back.

the tax question has pretty much been dealt with already. so what else will the UK association provide.

I ask this as an active investor and promoter of bitcoins in the UK with a few successes under my belt and a endless list of plans for the future which i would love to see more of the community pull together to achieve.

and a bit of friendly advice try not to get too involved with 'mohawk' AKA Amir taaki. his uptopian dream is great but the descriptions of the real world are beyond anarchistic and actually ruin chances of merchant integration.

EG saying how the banks are out to get customers. yet the UK banking system is the fast and cheapest method to transfer money. which is why UK is not seeing as many positives about bitcoin as other countries see bitcoin as.

you seem to have a one track mind revolving around mining.

bitcoin is a whole economy, imagine it like a new country being born with its own currency. there are training opportunities, retail opportunities, manufacturing, freelance opportunities, etc etc. the bitcoin world is your oyster. if you can't afford a mining rig then set up a shop selling groceries, clothing, DIY products, rent out apartment complexes, offer many other services like electrician, cable TV installers, plumbers.

bitcoin is not just about mining

+1

definetly

i hate all of these strangers saying give me coins for X reason and they will someday get to their destination

it is much better to get in contact with him and get him to make a personalised youtube video showing his bitcoin address so we can send funds direct to him

not impossible. just very very improbable

food and currency are 2 different things.

lets sat a town mayor owned one satoshi. he could divide it up as a trusted person into 100,000 parts and print pieces of paper that he trades gold, food, land for the decimals and then the receivers of the decimals can then use those decimals to trade amungst themselves for food, products etc. or trade with the town mayor to change the decimals back into gold/land whatever. never disappearing.

one slice of bread will keep a stomach happy for half a day. after that its gone never to come back, flushed down the toilet and tomorrow everyone is to starve.

completely different things entirely

laywers are limited in their knowledge. speak to the financial regulators of your country.