Disregarding the source, the US is in debt to whom? Retired federal employees, Social Security and Medicare recipients, Congressional pensions, etc. |
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The real question now is a non US person with no relationship to the US withdrawing fiat other than USD (CAD, EUR, GBP, etc.,) to a bank outside the US. If this is also blocked then the problem is a lot more serious since this is totally outside the control of the US Government.
You really think the US Government doesn't have control over that? |
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There's always some "gambling" in any investment. I'll also note that it's not 27% in 90 days, it's 27% APY, which is radically different. It ends up being about 5% over 90 days.
It's not unheard of in Bitcoin to make a smart short and make 5% in a single day. I've done it myself, and I'm terrible at speculating.
That's less outrageous, but still highly risky. |
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While such a scenario is possible it completely fails to explain why MtGox is not more transparent about the exact nature of the problem. If they gave some reasonable detail describing the types of hurdles they were facing the situation would be more manageable. As it is any reasonable person should suspect duplicitous behaviour. (e.g. merged customer/company accounts and liquidity problems)
Supposedly because they are afraid of pissing off the regulators by making everything public, generating news stories, etc. |
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Lawsky is the supervisor of all Insurance companies in New York, all New York State-chartered depository institutions and the majority of United States-based branches and agencies of foreign banking institutions. He also regulates all of New York State’s mortgage brokers, mortgage bankers, check cashers, money transmitters, budget planners, and similar providers of financial services.
Lawsky led Governor Andrew Cuomo’s initiative to make the Department of Financial Services, which includes the former New York State Banking and Insurance Departments, into a modern unified financial regulator.
Lawsky’s objectives for the new Department of Financial Services include three main goals—keeping New York on the cutting edge as the financial capital of the world, protecting consumers better than ever before, and serving as a model of efficient government.
Lawsky was Governor Andrew Cuomo's Chief of Staff. Previously, he served as the Deputy Counselor and Special Assistant to then-Attorney General Cuomo. Prior to that, Mr. Lawsky had spent over five years as an Assistant United States Attorney in the Southern District of New York, where he prosecuted white collar crime, organized crime, and terrorism cases.
Wow, this guy sounds like a real shining white knight ... I wonder where he was when AIG (insurance) was running it's goldman sachs multi-billion dollar pass through scam ... and MBIA (insurance) was blowing up the CDO market to tune of $50+ BILLION?? These SEC guys can't get off their porn sites to catch the real criminals ... but wait someone wants to compete with the federal reserve e-debt notes .... " ... we right on it massa ..." "keeping New York on the cutting edge as the financial capital of the world" means breaking the kneecaps of anyone who tries to compete with the Manhattan mafia. |
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However, there is no one in the US (that I know of) that currently has all the potential state registrations to take it on. There is at least one company in the process of obtaining those state registrations with the goal of taking over from Mt Gox in the US, which is something Coinlab apparently never even tried to do. |
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Perhaps this thread could become a "Best of Bitcointalk" thread where users nominate posts by quoting them here. Like this: If only there was some way to easily automate this type of thing. Like a way to I dunno, tell a computer what to do? Maybe some type of "code" that the computer could understand. And we could have a base for storing all the data, a "database" if you will. I bet millions of people all over the world could use such things to turn "logistics nightmares" into solved problems.
Heck, maybe someday someone could even create a currency of sorts using these tools and solve the "logistics nightmare" of tracking hundreds of transactions per day.
We can dream.
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It's intriguing that you're taking this route rather than say automatically refunding donators if a year has passed with no progress towards Wikimedia accepting bitcoin donations. All you have to do is track who donates what and ask for a refund address.
That's a logistics nightmare and discourages small donations. Surely there's some clever way to use nLockTime to make a contract that will accomplish this automatically? |
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Buddhism is propaganda originally designed to convince oppressed Asian peasants that they the reason their lives were miserable was because they lacked enlightenment, and not because they were slaves in a feudal dictatorship.
It's the metaphysical equivalent of the bully who punches his victim with his own hands and says, "stop hitting yourself!"
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If you're willing to do some work you can sell your BTC for USD at near Mt Gox spot prices, or in some cases even above. It's not necessary to take an 11% loss.
OK. Can you please explain? Do you mean selling on localbitcoins? Thanks -B LocalBitcoins is one option, Bitcoin Brokers is another. #bitcoin-otc a third. |
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Accessible as a Tor hidden service and I2P eepsite.
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If you're willing to do some work you can sell your BTC for USD at near Mt Gox spot prices, or in some cases even above. It's not necessary to take an 11% loss.
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The US and Europe are primed to reenact the breakup of the USSR. Just before the Big Lie falls apart, insiders at all levels of the political system start looting the treasury for everything they can get their hands on and stash their gains somewhere else. As soon as the looting is complete they disband the government, repudiate their debts and unfunded obligations, and form a "new" one (different name, same assholes in charge). It's part of the natural life cycle of governments. |
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I still don't understand what's so hard about it Have you ever watched a normal people use a computer? Have you ever tried to help someone who doesn't know anything about cryptography set up an email client to use PGP? It's a usability disaster. Look at the video I posted earlier in the thread and could the number of steps involved, then consider that in general every button click required to get a program installed cuts the number of potential users in half. |
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A better solution would be to change the default relaying rules and coin selection policies to favour (in the form of lower minimum fees) transactions which shrink the UTXO set.
Then clients could be configured to perform dust collection by automatically including dust outputs as inputs to other transactions, assuming the user doesn't mind the privacy loss this represents.
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I conclude that crypto-currencies like bitcoin are unlikely to generate widespread acceptance in the absence of significant monetary instability
Great. This means widespread Bitcoin acceptance is assured. |
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If it's a scam, they're doing it wrong.
Also this thread should be in Service Discussion.
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I don't think that Mt Gox has lost customer funds, based on conversations I've had with the operator of a business that has worked closely with them. I think the delays are entirely caused by US banks and financial regulators making life difficult for them and their partner bank.
On the other hand, I have no way of independently verifying the information I've received and no one reading this has any reason to believe me.
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Both sides don't want a dialogue. Tyrants want to be tyrants and have us compromise economic liberty into oblivion.
Seriously, fuck the US and the State of New York. I hear there are other countries in the world, and some of them actually welcome entrepreneurs. |
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