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So many people here want no regulation of bitcoin at all. Well, that means no protection either. You will have to vote with your money in a free market. It looks like that is happening now.
I'm not going to defend Gox, I don't know them. But this is likely a lot more complex than a scam. I have done many transactions there and never had a delay or problem. My theory is that Gox is just in over their head and struggling to keep up.
Theory is the key word here. I never trade on suspicion or rumor, even my own. That is a sure ticket to unprofitable panic selling.
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Thanks for the clarification. I do not know myself. But I have heard a lawyer say that if you buy then use coins as a payment system you might not be liable.  Given there is no guidance, every accountant has their own opinion and technically none are wrong. Some accountants intend to file as currency, some as assets, some as manufactured stock. It's a decision between you are yours. If you got audited, it's unlikely going to cause a huge issue if you have tried to pay your taxes in good faith. Worst case, I imagine, is you might owe more based on what they decide. This attorney (#3) thinks they are taxable. No doubt you could find one who believes it's a currency and therefore doesn't think that. That is my hope also. If I am trying to pay my share of tax but the IRS is not providing me any direction on how to do that, I should not be penalized. |
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1. I think this can be done online safely with a vote. I'm sure the community has the expertise to create a system that would not be compromised.
A very easy thing to write - but actually *impossible* to create unless your idea of a fair vote is say "proof of stake" (which means the people with the most Bitcoins win the vote) or perhaps "proof of work" (in which case those with the most powerful mining devices win). You could do either of those but my guess is that you'll find most people are likely to think that a "fair vote" should be 1 vote per person. Just one snag with that though - there is simply no way to do that online! I can think of one possible way. Create a foundation, associate membership with an account, allow one vote per account. |
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I am not aware of any bank in the us that will deal seriously with a bitcoin business. I think that is slowly changing as the legal risks become more clear and as banks see businesses making money.
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A lot of utter ignorance about what the foundation does and who it's members are. Of course anyone can start their own organization, or join the foundation. You can lead, follow, or get out of the way. But a petition from outside of the organization should be ignored, in my opinion.
But you are a member of the Bitcoin foundation so you would say that wouldn't you? Because it is part of our secret plan? The work the bitcoin foundation does benefits you. They organize conferences, meet with lawyers in Washington to persuade lawmakers about the virtues of bitcoin. They provides a place for the press to find facts instead of making them up. That is not to say that you should not do it also. I think you should. But it is going to get expensive flying to NYC and DC all the time. Doesn't it make more sense to form an organization that pools our funds and provides a place to debate things? Something like say... a bitcoin foundation. Have we got any proof of you doing this? nothing is transparent and that is what is wrong with it. also you guys focus on the NYC and DC area only? that's hardly anything to help Bitcoin you are only helping Bitcoin in the US you should be looking for international members instead of focusing on one place. Very little of the foundation website is not publicly viewable. You can see what is going on for yourself. https://bitcoinfoundation.org/forum/The reason so much is happening in NYC and DC is not because of the foundation, that is just where the financial and political decisions are being made in the U.S. Now your criticism of the foundation being America-centric is an issue within the foundation as well. That is why there is a push to create additional foundations in Europe, Asia, Africa, India, and the Middle East. Each of these regions has it's own special challenges and it's makes sense to have other organizations with different efforts. We are all on the same team. |
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A lot of utter ignorance about what the foundation does and who it's members are. Of course anyone can start their own organization, or join the foundation. You can lead, follow, or get out of the way. But a petition from outside of the organization should be ignored, in my opinion.
But you are a member of the Bitcoin foundation so you would say that wouldn't you? Because it is part of our secret plan? The work the bitcoin foundation does benefits you. They organize conferences, meet with lawyers in Washington to persuade lawmakers about the virtues of bitcoin. They provides a place for the press to find facts instead of making them up. That is not to say that you should not do it also. I think you should. But it is going to get expensive flying to NYC and DC all the time. Doesn't it make more sense to form an organization that pools our funds and provides a place to debate things? Something like say... a bitcoin foundation. Please note that, despite the name, the "bitcoin foundation" is unrelated to bitcoin because bitcoin is decentralized and has no leader, no foundation, it is just a protocol. The foundation in no way can force what they want to bitcoin because users can simply happily ignore them. No need to "remove" them, "remove" from where? Bitcoin is not their property  Amen. |
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This thread cracks me up. Page 1 is about a petition to remove Mark. By page 7 people are calling for his execution.  |
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Exactly. You can observe tons of examples of "horizontal" (different dog breeds for example) fossil variation, but none at all that would show an indication of change from one kind to another. There just isn't any physical evidence to back up the Darwinian Theory.
Where did you hear that? In over 150 years there has not been a single finding that is not consistent with evolutionary theory. That is why modern biology and medicine is based on it. There are literally millions of fossils that confirm evolution. Even the DNA in your body contains a physical record of your family going straight back to the earliest life on Earth. Not only is there a vast amount of physical evidence, there is no contradictory evidence. |
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Can you guarantee that the new foundation doesn't end up becoming a self-serving pile of crap like the current foundation?
No, you can't.
Say NO to foundations.
The Bitcoin network is in itself a foundation both literally and figuratively and doesn't need a third party to speak for it.
I disagree. That is not how things get done in Washington. Without professional lobbyists, lawyers, editors, etc. You do not stand a chance at drawing anything but draconian laws made by completely ignorant policy makers. You cannot refuse to participate in the process then demand special rights and laws for bitcoin. The reason bitcoin is succeeding in getting through the regulatory process in the U.S. is in part because of the work you don't see. Work done by the foundation. |
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That is a good point. This what free markets look like. Brutal, uncaring, and fair.
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A lot of utter ignorance about what the foundation does and who it's members are. Of course anyone can start their own organization, or join the foundation. You can lead, follow, or get out of the way. But a petition from outside of the organization should be ignored, in my opinion.
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The more the better.  |
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Just a side note. Be sure to read up on the fraud issues involved in physical bitcoins. You are really buying a private key that controls a balance. It is important that you have the only copy of that key. An unscrupulous seller might retain a copy and take back your coins later.
That is why it is so sad that Mike is out of the picture, he is trustworthy.
That is a good point and I think I won't find a trustworthy seller and hope Mike starts to sell them again any reason why he stopped? If there is any one else that you think is trustworthy let me know. I think he received a letter warning about the legality of his project. Oh and the poster above has a point. You can mint your own bitcoin money. I have never quite understood what the point of these are.
Isn't it a bit like writing an e-mail in Yahoo...and then printing it out...putting it in a stamped envelope and mailing it to someone?
Remember when the internet was new and readers could not imagine giving up their books? It is a little weird. But there will always be a market for money you can hold in your hand. At least until all of us who have ever done so have died. |
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Is the handle "newbie" taken? That could be a workaround?
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The shocking part is how many economic experts get bitcoin soooooo wrong. These people seem to have read Satoshi's white paper before opening their mouths.
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Some people in the world do not have the luxury of rights and freedom. For them circumventing the systems that would persecute them is moral, in my opinion. What if you are a Syrian fighting the government?
Even us in the U.S.A. face attempts to stop us from donating to wikileaks or Edward Snowden. Anonymity must be preserved as a balance against tyranny.
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People "believe" in God, they "understand" evolution.
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Just a side note. Be sure to read up on the fraud issues involved in physical bitcoins. You are really buying a private key that controls a balance. It is important that you have the only copy of that key. An unscrupulous seller might retain a copy and take back your coins later.
That is why it is so sad that Mike is out of the picture, he is trustworthy.
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Think of the Gox price as a bet on the likelihood of getting your money out of Gox. Would you pay full price when you may never be able to withdraw?
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