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Nothing to do with bitcoin.
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I propose we call anti-money laundering programs as anti-monetary liberty programs.
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I was looking at starting up a site that would sell bitcoins through credit card transactions as a US based business. Not wanting to run into immediate regulatory problems I gave FinCEN (Financial Crimes Enforcement Network) a call. It took them a couple of weeks to get back to me but the answer was yes that business would be required to register as a Money Service Business.
Yes, that is expected. BitInstant is a register MSB, AFAIK. A couple other exchanges based in the US are registered, or in the process of registering. According to my research (WARNING: not a lawyer, seek your own professional advice) online bitcoin exchanges in the US would need to register in ~47 of 50 states, as well as registering as an MSB with the federal government. (or limit the users accessing the website to a select few states) There is a multi-state surety bond and registration process, making multi-state compliance a bit easier, but it is definitely a lot of paperwork and background checks required. Heh, and thats the easy part! You also need to do the following, just off the top of my head: - Quarterly audits that you pay for - Every 6 weeks you need a verified and updated AML Program - Attend BSA training twice a year - Bend over backwards and get anally raped every day.... That should be art of the political platform for bitcoin: DESTROY all Anti-monetary liberty programs. |
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What people think of as dirty money is what I called privacy money.
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I actually thought this was a very well-written and well-argued piece. The criticism he's levying against the bitcoin community is valid. Many Bitcoiners have been fools, and it is a shame to be a fool with this amazing technology.
Revolutionary ideas often comes after a long string of failures. I've heard it said, "An expert is someone who has already made all the mistakes that can be made in his chosen field." Trying ideas and failing is part of the process. The fools are the folks who don't learn from their mistakes, not the folks who try and fail. Where do good ideas come from? Often from people who look at an idea that failed and say to themselves, "I can do better." +1 Moo. The argument is that bitcoiners are still hitting nails with microscope instead of using microscope to examine nails. |
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Honestly if it really is as poorly written as you're making it out to be, it may be better on all counts to just roll a clone from scratch...
I will be rolling like nobody's business when it comes to developing a clone from scratch. However, the caveat is that I am no security ninja and the new version will be unproven. I did figured out how to make payment works without requiring interaction with a hot wallet at kibabase.com.(Since then, I abandoned it for free content business model) I might develop something similar at operationfabulous. |
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It was negative.  Also, bitcoin was never hacked. |
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And nobody will actually use it. |
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More interesting than most blog post on bitcoin.
However, I have to admit, individuals in the bitcoin community are embarrassing the rest of everyone, especially those who got taken in by ponzi scams operated by pirate.
It makes us look like idiots.
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A quantum computer would also mean the eventual possibility of a quantum crypto currency. That would be quite a thing.
Quabitcoin? |
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PHP is Sooo outdated in 2012 ^^ programs in PHP 4.3. Why you code in a horror of a language? |
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Occupy protestors are really a bunch of spineless idiots who don't balls to invent and use a new currency like Bitcoin.
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This censorship is disgusting and what's even more disgusting is that it's led by US. Where is the famous american "freedom"? So much dictatorship.
Dictatorship or scared off their pants Americans? |
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We been waiting too long using a substandard board. WE DEMAND PROGRESS!
Well, I didn't pay anything to the funds, so I don't really have much of a right to say something.
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Information about mining is a bit inaccurate. Only one person or mining operation or mining pool at a given time will win all 50 bitcoin. Otherwise, it seems all the other information is spot on.
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The key to survival for the United States is not its USD, but its people.
Use and adopt bitcoin, focus on making schools really good, allows people to immigrate en-mass, and make life simpler for the average Joe.
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Ooh, what about a "trending" measurement of some kind? I know that on my site, for example, I expect a certain # of hits per day as a baseline, but every once in a while something makes it to the front page of Hacker News or something and I'll get 10k+ hits in 24 hours - would be nice if advertisers could jump in to take advantage of those kinds of spikes but with the metrics that are in place there's no way for them to know about a 24hr spike until it's over. Realtime analytics is probably asking for a bit much, but maybe hourly stat updates instead of daily?
Everything is slow slow slow because BioMike choose to write from scratch and use non-standard technology. There's no git repository or instruction on how to set up development environment. Even the most active owner on Operation Fabulous don't interface with me everyday. I'll figure out it gradually, but it will takes some time. When I do finish figuring out stuff out, while upgrading, I may be able to work on your request, or not. It all depends on what's the most urgent and important issue. |
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Satoshi Nakamoto are pseudonym used by Yamomoto Kamikaze and Seppuku Fujitsu.
Who the hell are they? |
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Journalist is a crackpot. Our Satoshi is no crackpot.
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