maybe you need to go into the consulting business.
Too much work. I'll just wait for them to finalize their framework and then publish methods for breaking it. |
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except that every material change in business model from original application needs to submit to further review and approval.
So don't change the business model from the original application. Licensing IP from a foreign company is just one example of how companies already shift profits around internationally. |
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I have been doubling my BTC holdings every day since December Assuming you started with a single Satoshi on January 1st, you must own 8034690221294951377709810461705813012611014968913964.17650688 bitcoins by now. |
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just 3 years ago a $10 rise was = to 300% now its just meh, I used to piss my self with a $5 rise.
All this good news and we're still lower than we were two weeks ago. The time to get excited is when we cross $660 again. |
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I'm sure Circle plan to have an insurance reserve made up of bitcoin profits, the reserve requirements and risk profile will just change with profitability allowing them to keep there bitcoin profits.
Think of all the tricks companies use to make their profits show up in, for example Ireland, instead of the US. Lots of ways to do it, but the problem is that bringing the dollars back from Ireland can be tricky because those dollars need to be moved through the legacy banking system. Bitcoin doesn't have that problem. Suppose you have a business that's licenced in NY, but you want to keep all your profits in BTC. No problem - in addition to your US corporation, register a corporation in Bermuda (or other suitable jurisdiction) that holds or purports to hold some kind of IP. Have the US corporation license the IP from the foreign corporation, with the fees to be paid in BTC, at a rate that coincidentally means the US company is barely or negatively profitable (this is how Hollywood makes sure all its movies lose money no matter how successful they are). Foreign company accepts the license fees and pays them out to shareholders as dividends. No interaction with the legacy banking system is required. Tax avoidance FTW. |
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everyone needs to read the NYDFS document carefully, formulate your own opinions, and submit any concerns or change proposals to Lawsky as soon as possible. NY is an important and pivotal test case concerning regulation: http://www.dfs.ny.gov/about/press2014/pr1407171-vc.pdfI can't muster much more than a "meh" reaction to the document. I actually hope some of the worse provisions, like forcing licenced companies to hold their profits and retained earnings in USD, stay in, because when Bitcoin instantly routes around that requirements the lulz will be epic. If that provision survives the review process, I'll write a "Tax Avoidance for Dummies" article to explain exactly how to bypass it for the benefit of any Bitcoin company owner who might be deficient in imagination. |
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2) Companies must hold profits and retained earnings in dollars, not bitcoin. Savvy companies have a plethora of methods for making their profits only appear in a country where it's advantageous to do so. What will happen here is that Bitcoin companies will be created in NY, but won't actually be profitable because they are utilizing one of these techniques. The (BTC) profits will appear in some other country and will be distributed appropriately. |
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All this talk about New York and their Bitlicenses reminded me of this essay from a few years ago: http://dumpdc.wordpress.com/2010/05/10/new-york-who/Because what does New York produce, other than chaos, despair, rhetoric and confusion? Once upon a time we believed the lie that Manhattan supplied financial horsepower to drive industry and production, but now we know it is just a con-artist that preys upon the weak and the helpless. Chances are, most of us would be able to run our own businesses fine without their meddling in our affairs, either directly or through their regulatory pawns in DC. |
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This means "no holding onto excess liquitdity (profits) in BTC". You will have to denominate all business profits in fiat, pay the man his cut for doing business in his state, and then do with your remaining fiat as you like. But the state of NY seems to say you can't just pocket the BTC like it is property (what the IRS thinks it is) and walk away to pay the taxes another day. Bad news there.... Easily bypassed, with only a slight amount of imagination required. |
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Maybe I'm going to look back in one year from now (or even 6 months)  |
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Yes, in order to accommodate multisig transactions, the whole format changed. There should've been a popup that explained that to you when you click on "Offline Transactions" on the latest dev version. The old format was insufficient for handling multi-sig spends as well as simulfunding transactions. There is no clean way to convert them. We have always tried to maintain backwards compatibility, but it was just not possible this time.
Great. Knowing that I need to just upgrade is better than suspecting that something was broken. Maybe I didn't see it because I never clicked on "Offline Transactions" on the latest dev version. I clicked on "Send Bitcoins" and selected an offline wallet. When I do click on "Offline Transactions", the popup does appear. (FYI: I virtually never click "Offline Transactions" on the online instance of Armory because the workflow doesn't go that way) |
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On this one I agree with him .. it will be on the Namecoin blockchain. It has more space and tools set-up to store title hashes already, also it is merged-mined with bitcoin so provides a similar level of hash-power security. It would be nice if Namecoin wasn't quite so economically questionable. The biggest problem I see is that there is no price discovery for storage in the Namecoin blockchain (Bitcoin blockchain also has this problem). Somebody ought to fix this someday. |
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Did something change recently in the Armory dev branch that changed the format of unsigned transactions such that an offline 0.86.3 can't recognize them any more?
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It doesn't just use its blockchain files, but does all network-related things via bitcoind. So I am somewhat sure you can't run Armory on a machine with no local bitcoind. Configuring networking-related things is not something I have a problem doing  I have run Armory and bitcoind on separate machines before, when both machines were Linux. I'm trying to help someone do it with an OS X Armory, and I was stuck not knowing the OS X filesystem quirks. |
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Default location for mainnet: ~/Library/Application Support/Bitcoin/blocks
Default location for testnet: ~/Library/Application Support/Bitcoin/testnet3/blocks
Thank you. |
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Where would Armory expect to find the blockchain files on OS X (and by "where" I mean the path where I would mount that directory via /etc/fstab)?
Situation is I want to run bitcoind on a separate linux machine and share the appropriate directory via NFS.
Figuring out how to mount NFS shares in OS X is the easy part, but I don't know where OS X puts things in its directory structure.
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Mirror neuron development happens long before a baby is capable of using technology. If a human being grows up without empathy it's because of a lack of parental attention and affection. Many studies have shown brain scans of people that lack mirror neuron development and they are highly correlated to socially conservative worldviews. That's because socially conservatives mostly likely come from religious backgrounds, and religion is child abuse. |
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Nation-state centralizes violence. Capitalism decentralizes violence. When violence is centralized, everyone who has a propensity to violence will be drawn to the center, concentrating and increasing it. When violence is decentralized, concentrations of violence themselves attract counter-violence, forcing it to disperse, decentralize, and exist as much lower levels.
Violence is naturally unprofitable compared to cooperation, ceteris paribus. There are two ways to profit from violence: - Disable the victim's ability for self defence via a side channel. This includes disrupting access to the physical tools of self defence, and disrupting access to the mental tools via propaganda.
- Bribe a third party to do the work for the attacker. The rulers of a society rarely have to act directly, because they can rely on a hoard of sycophants who will attack other peasants who start asking why we need the rulers at all.
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