Guess where they got most of the info:

This Forum:
http://ia800904.us.archive.org/35/items/gov.uscourts.txed.146063/gov.uscourts.txed.146063.4.4.pdf

His fiat accounts:
http://ia800904.us.archive.org/35/items/gov.uscourts.txed.146063/gov.uscourts.txed.146063.5.1.pdf

Have no idea where this came from: (someone backed a GPUMax Database???):
http://ia800904.us.archive.org/35/items/gov.uscourts.txed.146063/gov.uscourts.txed.146063.4.9.pdf
http://ia800904.us.archive.org/35/items/gov.uscourts.txed.146063/gov.uscourts.txed.146063.4.8.pdf


Looks like Daphne P Downes did most of the work:
http://ia800904.us.archive.org/35/items/gov.uscourts.txed.146063/gov.uscourts.txed.146063.4.5.pdf

Someone at the Wall Street Journal is getting fired.

yayayo,

Ask Doug Jackson an early innovator in gold-backed digital currency how ignoring existing regulation worked out for him.
http://www.securityfocus.com/news/11528
E-Gold pleads guilty to money laundering

Ask Aurther Budovsky of Liberty Reserve how ignoring government laws and regulations worked out for him
http://www.theguardian.com/world/2013/may/28/liberty-reserve-arthur-budovsky-arrested-spain
Liberty Reserve founder arrested in Spain
Arthur Budovsky, who set up digital currency business, is held as part of money-laundering investigation involving US

You clearly have an opinion of US law and regulation and that's fine.  So maybe it's time you renounce your citizenship and stop availing yourself of all the government subsidies you are unknowingly taking advantage of as a US citizen.

Then you can go to the country of your choice and choose whether or not to obey those laws.

Makes sense to me.

You can sit back and post complaints on an internet message board.

Fortunately there are groups of individual who are making an attempt to solve these problems.

+1

Awesome. What percentage of your clients use it?  Do you offer a discount as an incentive?  Curious to know as ill be implement bitcoin payment options soon on a few website I administer.

Ha!  Never tonight of that. Maybe I should change it.

Accept bitcoin!

QuantPlus,

I certainly share your concerns but I find it quite disingenuous of you to claim to know so much about the intentions an organization that was announced less then as week ago and could not have been an idea in anyone's mind prior to the March 18th FinCEN guidance here in the US.

The stated goal of D.A.T.A is to interact with government NOT evade.

Data has NO authority.  But it's  members seem to have an extensive depth and experience in these emerging technologies.

"tech Oligarchs"  - interesting. You must be Russian.  You did get fucked.  So I can see your concern.  So sorry that was your experience and thus the root of your anger and resentment.

Well this is not Russia.  We'll see how this plays out.

In the meantime you should start  "ASOTO" (Authority Stamp Out Tech Oligarchs).

I was not referring to you specifically but in this thread and others it seems the  M.O. is to shoot first then ask questions later.   

It is always good in anything bitcoin related to have a healthy skepticism.

I too have concerns about any central "authority" self-regulated a decentralized peer-to-peer technolocy in a way that all stake-holders are represented fairly, so I am interested in individuals real and specific concerns that are not just "FUCK the FED" and "FUCK authority" (which you have to admit there is a lot of in these parts).

Also you should read this.

http://www.cato-unbound.org/issues/july-2013/private-digital-economy

The first essay an excellent analysis of bitcoin as money.

The D.A.T.A. founders chose not to use "Association" because they did not want to be seen as a "trade association", "Agency" was too formal and structured so they settled on "Authority" (with the Latin connotation not necessary the modern English connotation).  

See finra.org.

Too many conspiracy theorists around here.  This is a group of concerned businesses who are trying to make a difference with respect to the onerous regulation here in the US and elsewhere where short-sited government regulations impede innovative technology as it relate to virtual currency and emerging payments.

Hope that helps.

Absolutely frightening!

Equilux,

Yes it is very difficult and frustrating when our government impedes technological innovation with legacy legislation.  So I can certainly understand everyone anger and frustration.

Look that the length Tangible Cryptology has gone to revive his once thriving business.
https://bitcointalk.org/index.php?topic=224057.msg2848889#msg2848889

It is unfortunate that this is the case and this is a perfect example of penny wise pound foolish regulation driving innovation outside of US border.

Here is more interesting info on the ongoing debate.  Jim Harper's lead essay is an excellent primer.
http://www.cato-unbound.org/issues/july-2013/private-digital-economy

Dan Kaminsky, Jerry Brito, Chuck Moulton and Patrick Murck also weigh in with some terrific insight.

We are all doing what we can to find a way.
 

Rassah,

Finally someone to inspire confidence!!

But who is Moe???

How you can make the leap from an organization like D.A.T.A. that wants to engage legislators,regulators and user in a dialogue about "best practices" as they pertain to the exchange of digital assets to "D.A.T.A. want to control bitcoin"  is beyond me.

You do understand that like other decentralized, distributed systems like tor or bittorrent no individual or group can "control" bitcoin.

DATA does not have the authority to regulate bitcoin.  But it will suggest best practices for its members as they relate the the laws and regulations of it members governments.  Bitcoin is a decentralize digital currency, you are free to use it how ever you like.  You do not have to be a member and it will have no effect on you.

I do not know if the FED would answer your email?  I have never emailed them myself.

You are currently taking part in this dialogue  about D.A.T.A. now.

That is way posting here.

I'm curious to know what the community thinks.

(I can't respond to your other questions, I'm not a statistician.  I believe the quy who wrote that article is a member of data and some of the info he writes about is not in the data statement.  You should post in the comments of the article.  maybe he'll respond to you.)  

The Federal Reserve Prints Money.
D.A.T.A. can not mint bitcoins.


According to Internet World Stats:
There were over 2.4 Billion users as of June 30,2012
http://www.internetworldstats.com/stats.htm


2.5 Billion of the world population have no access to formal banking
http://www.mckinsey.com/insights/financial_services/counting_the_worlds_unbanked

Technologies like m-pesa, kipochi and other digital currencies are now quickly changing this.
http://en.wikipedia.org/wiki/M-Pesa
http://www.coindesk.com/kipochi-launches-m-pesa-integrated-bitcoin-wallet-in-africa/


You guys should try to read more. The world as we know it is rapidly changing.  You can sit back and watch it change around you.  Or you get be active and try to take part in this important dialogue.  That is the intention of D.A.T.A.

Actually less regulation.

More clarity and understanding.

It's simple actually.

It is clear that many posting here do not understand the underlying technology of the bitcoin protocol.  I would suggest you read the Satoshi white paper (http://bitcoin.org/bitcoin.pdf) or do some other basic research to help you better under the strengths and benefits of this disruptive technology.

To give you a simple description, it is not possible to "regulate" bitcoin as it is a distributed, decentralized, peer-to-peer, digital currency governed by the consensus of its users.  Anyone anywhere in the world with an internet connection can download the satoshi wallet or access a web wallet.  You can mine bitcoins if you like.  You can send and receive bitcoins to any other person anywhere in any amount who provides you with their public key to make that transfer.

You can also exchange many fiat currencies for bitcoins.  However this is where the friction arises.  There are existing laws and regulation regarding money and currency and the movement of these funds.  Unfortunately some governments have seen fit to try to peg the round peg of bitcoin in the the square hole of existing law or regulation and it just does not fit very well.  This is the problem we are trying to address.

If you follow the bitcoin news you know that Thailand's central bank declared Bitcoins illegal (if that is legally possible), because after learning about the technology they had no idea how it fit into any of there existing regulation.  This kills innovations and does a terrible serviced to the individuals of a society.   This is what D.A.T.A. is trying to prevent. 

I certainly understand anti-government sentiment.  I can't imagine anyone could be happy to learn of the NSA surveillance effort and the many other documented and undocumented examples of governmental over-reach.

However governments provide a multitude of benefits that we take for granted every.  Try to live a month or a week or a day of your life without government intervention.  Park your car in your garage.  Stay off any paved road.  Do not cross any bridge.  Take your children out of school.  Do not visit a hospital.  Do not use public transportation.  Turn off your computer.    Take the fiat out of your pocket and burn it. Take the clothes off your back.   Cut your self off from the power grid. Interesting thought experiment.       

I hope you better understand now how bitcoin can not be "regulated" and they while governments often make bad or unfair decision that you can not easily just pick and choose the government subsidies that you like and don't like.

Government is consensus.  Government is formed by individuals.  Individuals make decisions that affect our so cities collectively.  D.A.T.A want to engage with these individuals.  They nave names, they have families, they have children, they are humans just like the rest of us.  And when you separate the individual from the Government monster that many envision you would be surprised how effective advocacy can be.  This is how we choose to engage.

Revolutionaries die.  And when you take your bullet I'll appreciate your effort on our behalf.  And I'll remember you in 20 or 30 years when we are all living in a practical and efficient digital economy that was made possible by all of our efforts.  However  I'm a pragmatist.  I like practical application to solving a problem.  D.A.T.A.  is our effort.  What is your?

AUTO CORRECT ERROR

"emerging" payments corrected.

Please understand that the Bitcoin Foundation had taken up the mantle of standardizing and protecting and prompting the bitcoin protocol.  You can chose to use this protocol, an alt protocol or fork the code and create your own.

The Ditital Asset Transfer Authority's goal is to engage, educate and assist bitcoin business, users, regulators and legislators in understanding and fully complying with the laws and regulation of their respective countries.  Again you can chose to be a part of this effort or not. Or you can start your own effort.

However with the recent action including:

The March 18th Financial Crimes Enforcement Action Guidance (made with out a request for comments).
The May 7h inditement of Liberty Reserve and subequent seizure of affiliated domains.
The May 14 seizure of Mt Gox's assests in Veridian Credit Union by the US Department of Homeland Security
The July 23rd civil charges filed against Trendon Shavers for his bitcoin denominated ponzi scheme.

The US government and goverments around the work have clearly show that expect this new technology to exist with in the existing legal boundaries regardless of where you operate.

There are laws and regulations in each of our contrives that exist now with relation to virtual currencies regardless of what some of the geniuses on this forum thinks and there are SERIOUS consequences for not obeying these laws EVEN IF YOU ARE IGNORANT OF THEM.

The goal of D.A.T.A. is to seek clarity of these laws and regulation for the benefit of our greater community, to educate and create a dialogue with legislators, regulators and law enforcement to aid them in fully understanding and comprehending the the many beneficial aspects of this incredibly disruptive technology and ultimate engage our legislators and regulator in creating laws and regulation and better serve the virtual currency and emerging payments movement so that they foster and encourage the safe and legal growth of these technologies instead of pigeon holing this space into onerous and confusing existing relation.

D.A.T.A. is making this effort.  You obviously don't have to participate or support this effort.