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He seems to just dismiss as at a stroke how far bitcoin has come already. Yes the transaction rate is a worry, but surely it's a case of when it increases rather than if it will increase.
I think 2014-15 are the years where we sort out the app usability side of things with better wallets/apps, and we'll see a use explosion late 2015.
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Can anyone tell me why this got moved out of the Press section? This was the first to break the news on here.
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Lawsky strikes me as being more concerned he is in the spotlight progressing his career than have a novel thought in his head on virtual currency regulation.
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My dividend address should be 16qMeYdhYfMbz2CooLzHWWrxHREj8hY3Qx
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The tweet got taken down! broken link. Guess someone got a call from their boss saying WTF?
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It's been soo long since people registered, you may want to re-collect divident addresses, as many will be out of date/unusable. I'm pretty sure the one you have for me is.
Amazing to see people soo excited to be getting probably less than $1 back in $3 they spent!
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Inflation is a fundamental requirement for banking. It drives the public to deposit money with a bank to get compensated for inflation by interest payments. Without inflation the only motivation to keep money in the bank is security and utility. Since Bitcoin does not need banks for security or utility and it can't be inflated, why would someone lend Bitcoins? The only reason I can imagine is insane greed.
People lend bitcoin already exactly the same way they lend dollars, and for the same reasons (interest). Thats how the BitFinex.com exchange works! The more bitcoin price stabilises, the more likely people are to want to lend out their coins for other instruments, thats the nature of Finance and swaps. Bitcoin banks will become the facilitators of that mechanism and operate pretty much the same as current banks offering accounts with interest on condition they can lend out a portion of your deposits. |
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It will be interesting to see if Amazon and the likes get caught up in this legislation because their gift tokens are essentially a virtual currency.
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A shabby and unbalanced peice of reporting full of seedy inuendo and shady insinuation. He even managed to get the word 'iffy' in there as a final thought!
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I would say open your business in switzerland and put a sticker "no bussiness with NY" (or even US)
You can do business with US from another country, just don't need to pay any attention to their laws as a business, it's the US citizens problem. If you don't have operations there, there is little they can do other than turn to their usual cronies (banks/visa/mastercard) to enforce their laws for them. And actually I would pick the Isle of Man as bitcoin capital. |
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I think most people seem to be "not seeing the wood for the trees". The important takeaway from this development is that in New York at least, government is prepared to declare bitcoin "legal". The fear that has lurked in the shadows that all governments would declare it illegal is gradually fading, and this is just one more significant step in that direction, ensuring bitcoins future.
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I don't know why it had to be an all or nothing solution, surely we could have split based on who wanted boards and who wanted to stay with R17 (subject to only splitting whole X3's), all it needed was a vote! or was that just too much effort? This group has been characterised by a complete lack of democracy and transparency.
Either I get yelled at for not asking enough options, or for taking too long to make the decisions. You cant have both in this world, if I waited to take a vote from every person and split it accordingly, we would be looking at mid-August then. so mid august is 2 jumps. well we are looking at a 7% on the 26th of july and for aug 15th a ? jump say 10 percent. so a diff of 22000 vs the current 17336 is pretty certain. and do nothing low number is 38th for the 765 shares. that comes to about 6 btc a week. say aug 14 to aug 21 then a diff jump say 10 percent more to 25000 we then earn 5.28 btc for a week maybe another 5.28 btc then another jump. we are up to sept 4 or 5 and we earned back 16.5btc on the 38th not counting power a th is 1000 watts 38 = 38k watts an hour 21 days or 1532 usd if a recall you pay 8 cents a kwatt. so the 16.5btc earned drops by 2.5 minimum for the power total of 14btc to be split over 765 shares or .0183 btc a share by sept 6th or so. if all goes right 5x shares is .091 by sept that is 54 bucks so My shares are 630 usd so if we can mine 10 weeks and jumps are low I am ⅓ back at best. if I allow the ba gear and don't upgrade. If I up grade what is my cost for 5 shares? 100, 50, 150? anything more the 50 bucks or 10 bucks a share would be nuts. since at best I go from maybe .2 btc return to .4 btc returned . The number above are rough but close and if anything high on the btc returned. now if I was told with an escrow backed guaranty the new gear gets .7 watts not 1 watt or .9 watts. I will toss money at it. and not much money 10 maybe 11 dollars a share. which has to be escrow backed. just does not pay off to get gear at 1 watt or .9 watts. You know those boards can be du-tuned down to 0.5 watt/GH? |
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I don't know why it had to be an all or nothing solution, surely we could have split based on who wanted boards and who wanted to stay with R17 (subject to only splitting whole X3's), all it needed was a vote! or was that just too much effort? This group has been characterised by a complete lack of democracy and transparency.
Either I get yelled at for not asking enough options, or for taking too long to make the decisions. You cant have both in this world, if I waited to take a vote from every person and split it accordingly, we would be looking at mid-August then. Only because you are so friggen disorganised, trying to run a business via forums is just plain stupid! Over on Kncminer we have a vote website and email list, any issue it goes up and is voted on in twenty four hours or so! Here we spend days/weeks/months trying to work out what you are doing and how we have our say with OUR money, and then get promptly ignored because your opinion seems to be the 'swing vote' on everything! Nobody EVER asked you to take decisions for us. |
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BTC-E has been hands down the most reliable exchange for me. Bitfinex is a close second but it has reversed trades, so that knocked it out of the top spot. Businesses can be anonymous for legitimate reasons. If BTC-E is russian it can't operate except for anonymously. One time I did a withdraw and didn't get money. They fixed it pretty fast. Thats only problem I've had with them.
Well re-read the OP, it's not about "how btc-e.com works for me" because mt.gox worked for most people, right until it jumped off a cliff. If we get a repeat of that combined with the anonymity that these guys have, the bitcoins will be gone forever and bitcoin reputation severely damaged. btc-e.com represent what the financial organisations like to call "a systemic risk". If you don't want to participate in unmasking them, fine. But your not going to stop it! |
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btc-e is like the only exchange that has ever been hacked AND paid back users from its own money.
I can't think of any other exchange to do that. And they have all been hacked!
+100500  Yeah I can understand why certain russians might be in favour of this kind of behaviour! I actually think they will lose their business model/bulk of users anyway once legitimate western exchanges start appearing, then we can leave BTC-e to deal with lifes underbelly. |
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No matter what the content, this is a Major milestone on the road to legitamacy for bitcoin, i'm amazed the price has not reacted more than it has. Perhaps word is slow to leak out, though it's been mentioned on CNBC already, interviews with the guy later today also.
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I don't know why it had to be an all or nothing solution, surely we could have split based on who wanted boards and who wanted to stay with R17 (subject to only splitting whole X3's), all it needed was a vote! or was that just too much effort? This group has been characterised by a complete lack of democracy and transparency.
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