It will be interesting to see how the US will react to the good news from MtGox. Up or Down? We will find out in about an hour from now.  I bet there will be fireworks. Lots of fireworks. And parades. |
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At the moment, I am in Calif. Not sure why that matters here on the interwebs. Some New Yorkers have heard of it. David Ganz, Richard Timberlake, Nathan Lewis, Steve Forbes are New Yorkers who have all written about LD and are aware of NLD. Though admittedly we keep a much lower profile than the original. If you never heard of Liberty Dollar, it was one of Satoshi's inspirations. "New" Liberty Dollar is the successor due to the fact that the Liberty Dollar founder is currently fighting off the US Government's false accusations in their attempt to maintain a monopoly on money. He may spend the rest of his life in court as a professional defendant, but I hope he outlives their onslaught. NLD kept as much of the original as legally possible, dropped all the politics, and set up shop. Consequently "New Liberty Dollars" are OK to sell on eBay, and original "Liberty Dollars" aren't (yet). don't get me wrong i have rolex spoons i'd trade for bitcoins all day , i just see from your site your coins say: 50 "NEW DOLLARS" spot price for silver is nowhare near $50 and whats wrong with the old dollars what happened to: In God WE Trust? NYC;) We are drifting off topic so I'll be brief. US$50 is the MSRP, we sell wholesale based on spot+premium, not retail. Still, you would be surprised how many collectors buy them for US$50 or more. The limited run from last year was recently selling on eBay for US$280/oz. The original LD said "TRUST IN GOD" Apparently, the Treasury god is a jealous god, and doesn't want such words to be inscribed on anything unless they do it. They alleged in the case that it could confuse people into thinking that they were looking at a US quarter or other current money of the US. So we dropped that and put in the "RIGHT TO CONTRACT" motto instead, referencing the first article of the US constitution which also enshrines gold and silver as the money of the US, forbidding states to make money of anything else. |
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It has also been my argument (take a look at my thread on the legal forum) that California's DFI did not send this letter because they actually believed the foundation was engaged in money transmission. That position would be absurd, and the regulators are not stupid people. To the contrary, the C&D was a shot across the bough intended to engage the Foundation in a political dialogue. If you noticed, the C&D contained no legal analysis and did not specifically cite any instance of supposed money transmission. Instead, it forced the Foundation to do DFI's analysis for it. It forced the Foundation to take a position on the issue. Now the Foundation has done so, and we will have to wait and see DFI's response. The letter was competently-executed statutory analysis. But let's not all start patting ourselves on the back for our accomplishments just yet.
I doubt there was as much thought behind it as you assume. All they did was send out form letters to a bunch of people. They probably figured this would be an easy way to get a bunch of businesses to sign up and pay the registration fee. Instead, they're now going to be forced to justify their actions, or concede that it's not under their jurisdiction. They can also do nothing. There is no force acting on CA from the Foundation, just a request. |
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At the moment, I am in Calif. Not sure why that matters here on the interwebs. Some New Yorkers have heard of it. David Ganz, Richard Timberlake, Nathan Lewis, Steve Forbes are New Yorkers who have all written about LD and are aware of NLD. Though admittedly we keep a much lower profile than the original. If you never heard of Liberty Dollar, it was one of Satoshi's inspirations. "New" Liberty Dollar is the successor due to the fact that the Liberty Dollar founder is currently fighting off the US Government's false accusations in their attempt to maintain a monopoly on money. He may spend the rest of his life in court as a professional defendant, but I hope he outlives their onslaught. NLD kept as much of the original as legally possible, dropped all the politics, and set up shop. Consequently "New Liberty Dollars" are OK to sell on eBay, and original "Liberty Dollars" aren't (yet). |
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i've put ads all over in an attempt to sell stuff for bitcoins and i've sold absolutely nothing, bitcoin appears to be purely speculative and the price reacts as if it's being manipulated be a very small group of greedy individuals, whoever holds most of the coins dictate the price NYC;) http://www.youtube.com/watch?v=O3LJKntr7vQWhat are you selling? I get sales in Bitcoin. For selling bullion online, Bitcoin is a great advance. I already have to use non-reversible transactions, so without it my market is limited to where we have a bank in common, or else have expensive wire transfers. |
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Why would you spend Bitcoins? Because you have basic human needs like food and shelter.
Right, Gresham's Law. if you make all your income in bitcoin, what else would you spend? If you make something worse than bitcoin, then you spend that first. If you make something better you spend the bitcoin. http://en.wikipedia.org/wiki/Gresham's_lawIt is surprising how often Gresham's Law in misinterpreted. The first line of the Wikipedia article even starts with, "When a government overvalues one type of money and undervalues another ...", but I guess nobody reads it. The value of BTC not set by anyone (especially any government), therefore Gresham's Law is not applicable. Gresham's Law applies to a bi-metal monetary standard where the ratio of the values of the two metals are set by the government, or to the situation when the face value of a coin is less than its melt value. I should fix that wikip, the philosophy has more profound implications than the narrow interpretation to which you adhere. At the time the term was coined (ahem) many currencies were private. It was not government only. That is a recent deviation. In the years Wikipedia has existed, that circumstance was largely unknown. |
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From your description what is needed for your software to make the selection is my name and the forum name, my name which is
<----------< over there, and the forum name, which is ^^^^^^^^ up there are all you need.
Bitcoin addresses are in your profile.
Keep it simple, eh?
So all the folks who put their name in the post are disqualified as double entry? I might be the only one with a chance to win so far.
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Why would you spend Bitcoins? Because you have basic human needs like food and shelter.
Right, Gresham's Law. if you make all your income in bitcoin, what else would you spend? If you make something worse than bitcoin, then you spend that first. If you make something better you spend the bitcoin. http://en.wikipedia.org/wiki/Gresham's_law |
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Overview of the patent system:
The patent covers an invention, and the patent applicant can get monopoly of the use of the invention for a limited time. He can then force others to not use the invention or license it, of his own choosing.
No. That is almost as bad as claiming that since there are police, there is no crime. A patent doesn't do what you described here very well, that would give the law magical powers that it doesn't have. Patents are routinely violated, they never result in monopoly. What they do is provide an offensive legal weapon to point at those that attempt to do something like what you have patented. Using a patent is an expensive proposition, and may not succeed, so you aren't going to enforce it unless the perp is rich. Win or lose you have to pay. Lose really badly and you have to pay for the other guy's legal costs too. If you do ultimately win your patent defense case, you aren't done. All you get is the court sending you to another case to figure out what the "reasonable license fee" is, and that's what you get. If you win a good award, then you have to try to collect it. Do you know how many patents get profitably violated? All the good ones. |
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-be able to verify via online banking that there has been a cash deposit made into their account for the correct amount.
-receive a scanned copy of the actual deposit slip used during the deposit transaction.
-receive a scanned copy of the business card of the bank employee who accepted the deposit who can be contacted to verify the deposit. How can the seller know with certainty that cash was deposited (versus a personal check, for instance)? Some banks charge extra to perform a counterfeit bill check at the time of deposit. Is it possible the buyer passes a bogus bill, and then the funds are pulled from the seller's account a day or so later? Questions best for the bank, I think. Though when I see deposits on even small regional bank, it lets me know, cash, check.. Good luck depositing a counterfeit Bernankedollar. I wouldn't count on that percentage, have you had the latter happen?? Edit: Are you in the States? If not, no clue. All the FRNs around here go through a machine, even at a teller window. Machine Counts it, checks it, probably records the serial number, dusts for prints and checks your prostrate while its at it. |
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The real meat in this letter is under Section C for "stored value." The Bitcoin Foundation says that Bitcoin is not stored value. This directly contradicts U.S. Department of Treasury FinCEN statements which say that the reason why Bitcoin operators need money transmitter licenses (or MSB licenses) is because BTC is stored value. The interesting thing is that the Foundation didn't need to argue that Bitcoin is not stored value. They could've just said that, even if Bitcoin is stored value, they don't sell or issue it and so they aren't subject to the license. They claim they are a not-for-profit and their activities are more political in nature. Consumers can only donate Bitcoin to the Foundation, not buy or sell Bitcoin to them. So why are they arguing something seemingly unnecessary to their case? My thoughts are: 1) They actually have done some issuing, selling or transferring of Bitcoin, although probably in a small capacity. The Foundation actually might be giving money to people. They have grant competitions, and whoever wins the grant probably gets resources to bring the grant idea to fruition. What if, for one of those grants, they gave some BTC to someone? Well, then, that might consist of the activity of issuing BTC, which CA claims they need a license for. 2) The other possibility is that they are making a political/legal move in trying to get a case in court. Just because FinCEN or a CA Department says something, doesn't mean its statement is legally binding. If they could get a judge to adjudicate whether Bitcoin is stored value, then this would bring great clarity to the field. The Foundation argues that Bitcoin is not stored value, or any other definition under money transfer laws, and therefore no Bitcoin operator needs a money transmitter license. This is a bold argument that directly contradicts FinCEN. It's also highly appropriate for the Foundation to make this move since it's their mission to advocate Bitcoin in general. The Foundation might be on to something. In fact, at the recent conference in DC, the European Central Bank declared that they don't think Bitcoin fits any of the three functions of money: Medium of Exchange, Unit of Account, or Store of Value ( http://www.thebitcoinchannel.com/archives/13169). If they mean Store of Value in the same way that the US Department of Treasury means Stored Value, then it's possible that one day the U.S. will give into the notion that Bitcoin is not stored value and thus Bitcoin operators would not need a money transmitter license. The Bitcoin Foundation's response to CA's cease and desist here is really exciting. The Foundation is officially requesting here for CA to make an official statement that "the sale of bitcoin is not regulated under the California Money Transmitter Act." Of course it might take a couple of years for this case to get through the court system in order to produce a final answer. In addition, the Foundation says, "It is important, and a core aspect of the Foundation's mission, to ensure that State regulators understand the bitcoin industry, and that the bitcoin industry participants receive clarity regarding and achieve understanding of their obligations under state law." The Foundation here is suggesting that perhaps our government bodies don't quite understand the nuances of Bitcoin, and so consulting with the Foundation should help. [please note this is not legal advice] This is spot on. The next question is whether the Foundation is best suited to handle the setting of the precedent on all these points. If you care about the outcome, it is time to help in whatever way you can. If precedent is poorly made, then it may be State + judicial deference v You, in the State's courtroom, in years to come, amicus. |
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we're hitting a key support, post count on this thread is crazy high, all bearish comments ...expect me... time to buy guys its trend reversal Maybe  Use log scales  |
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The bitbill patent will prevent others from keeping keys of wallets and trading them on paper. Is there any discussion of this idea prior to May, 2011? The patent covers uses that go beyond paper. They want to shutdown physical bitcoin coins apparently.  Patents don't shut things down, but are weapons to do so. It is like a gun. You can build one, but that doesn't mean you are going to shoot everyone. They can be enforced, or not. They can be licensed. If you want to make a similar coin, talk to them. They are likely smart and reasonable folks. If you have something new to add, you might become partners. If you just want to steal their idea+research and make a buck, maybe you should pay them something? When you tip well, you get good service. When you don't, you get served. |
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You act like I didn't acknowledge what you have already posted...
No, I act like you goaded me into reading and digesting the information for you due to your incredulity. Really, you should just believe everything I write. It will save us both time. |
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You are so easily thwarted? I learned that by speaking with them at the convention. Call them up, not everything is on the website. They are available 24/7, and have folks around the world to answer your call. https://exante.eu/contact_us/ Oh right, that's not like I should expect anyone to publicly show what they are offering on the Internet. Especially if they are the first to offer it. Better call them to see if they forgot to include something. So you ARE easily thwarted. That phone is sooo far away.... can't look away from screen... |
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Today you can go to http://bitcoinfund.eu/ Account minimum is US$1Mil, though they are reputedly lowering it for Bitcoin only accounts. I see how I can buy, not how I can short... Account min was wrong above: Minimum Account size with EXANTE EUR 100,000. Minimum Bitcoin Fund transaction size EUR 10,000 If you want to short, call them up. Or you can do it the penny-ante way and borrow from coinlenders at a high rate. Again, I saw that, but I still don't see if they offer any kind of shorting. Relevant snip from that page: "The broker is also meeting the much waited requirement from the commercial processors and large merchants of Bitcoins i.e. they can now hedge their Bitcoin inventories without liquidating actual Bitcoins that they have been doing till now daily." So you post your cash to cover, and they sell borrowed coins for you. https://exante.eu/press/news/314/ |
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Today you can go to http://bitcoinfund.eu/ Account minimum is US$1Mil, though they are reputedly lowering it for Bitcoin only accounts. I see how I can buy, not how I can short... Account min was wrong above: Minimum Account size with EXANTE EUR 100,000. Minimum Bitcoin Fund transaction size EUR 10,000 If you want to short, call them up. Or you can do it the penny-ante way and borrow from coinlenders at a high rate. Again, I saw that, but I still don't see if they offer any kind of shorting. You are so easily thwarted? I learned that by speaking with them at the convention. Call them up, not everything is on the website. They are available 24/7, and have folks around the world to answer your call. https://exante.eu/contact_us/ |
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Would you rather we be France?
The best thing to come out of France.  |
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Today you can go to http://bitcoinfund.eu/ Account minimum is US$1Mil, though they are reputedly lowering it for Bitcoin only accounts. I see how I can buy, not how I can short... Account min was wrong above: Minimum Account size with EXANTE EUR 100,000. Minimum Bitcoin Fund transaction size EUR 10,000 If you want to short, call them up. Or you can do it the penny-ante way and borrow from coinlenders at a high rate. |
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