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901  Bitcoin / Legal / Re: Filed a request for an administrative ruling with FinCEN this morning. on: June 04, 2013, 08:56:46 AM
Quick question, vaguely on topic - is it legal for two US citizens to exchange fiat currencies with each other? (e.g. pay USD receive EUR, etc)? Or is that technically illegal? Or does it require some sort of registration?

There is an exemption for transacting "infrequently".

Authority: 12 U.S.C. 1829b and 1951–1959; 31 U.S.C. 5311–5314, 5316–5332; title III, sec. 314, Pub. L. 107–56, 115 Stat. 307.
Subpart A—General Definitionstop
§ 1010.100 General definitions.
(ff) ( 8 ) (iii)

( 8 ) Limitation. For the purposes of this section, the term "money services business'' shall not include:
(iii) A natural person who engages in an activity identified in paragraphs (ff)(1) through (ff)(5) of this section on an infrequent basis and not for gain or profit.

And the "infrequent basis" threshold in a McGladrey paper shows "fives times or less" per year:
902  Bitcoin / Bitcoin Discussion / Re: What is the most secure LiveCD for printing paper wallets offline? on: June 04, 2013, 07:34:31 AM
I need to find the best LiveCD for the job, it has to fulfill the following needs:


BTC Vault - Secure Bitcoin Live-CD

I'm not aware of anyone who has viewed the build scripts though to verify that it is safe.
903  Bitcoin / Legal / Re: List of court cases, complaints, regulatory actions, etc. on: June 04, 2013, 07:02:34 AM
Tangible Cryptography (FastCash4Bitcoins) Receives Notice From State
May 31, 2013
Location: Virginia, USA

Abstract: State of Virginia determines that Tangible Cryptography may be engaging in money transmission under Virginia law.

Tangible Cryptography suspends Bitcoin related transactions
904  Other / CPU/GPU Bitcoin mining hardware / Re: 8970 Is Coming on: June 04, 2013, 02:45:14 AM
And it's gonna be a monster. Should be capable of 1gh/mh. Projected retail is $599, so better start saving up your pennies  Grin

Well, that's going to be useless for Bitcoin mining (look at the recent rate of increase of difficulty if you aren't convinced).

But maybe for some scrypt-based alt it will still have a use for mining at some level ... at least enough to give you justification for ordering one.
905  Bitcoin / Bitcoin Technical Support / Re: Can someone explain me a automatically payout system on: June 04, 2013, 02:36:08 AM
Winner will receive theyr winning automatically paid out to theyr senders adress

That's because SatoshiDICE has a restriction that any wagers sent from a hosted (shared) E-Wallet are lost (or, more specifically, the winnings will be paid just that they go to someone else and not to the person who sent the wager payment).

This is because the Bitcoin protocol doesn't have the concept of a Sender's address.

Bitcoin has INPUTs and OUTPUTs.

So SatoshiDICE is grabbing from the wager transaction the INPUT (or choosing one of the INPUTs if there are multiple that funded the wager payment) and using that as the Bitcoin address to send the funds to on the payout transaction.

And they'll always use the OUTPUT from the wager transaction as one of the INPUTs in the return payout such that if the wager never confirms (or is double spent) then the payout transaction will never confirm either.

So they don't have payouts that will confirm on wager payments that did not confirm.

On the backend they use a customize version of BitcoinJ to perform the payments, reportedly.
906  Bitcoin / Project Development / Re: Bounty 20 BTC: Wi-Fi Hotspot, enabled by bitcoin on: June 04, 2013, 02:29:23 AM
The ability to share a router for use by the operator for internal use as well as offering access commercially.

Software License: [flexible, GPL or BSD]
Hardware supported: [incomplete]  (probably WRT54G, etc., also Ubiquity Nanostation2)
Payment methods: Both Bitcoin or Voucher Code (i.e., a code for a 2 hour pass, 1 day pass, etc.)
Private access: Second SSID for internal use, WPA2 protection
LAN /ethernet: Full access
WLAN DHCP: Supported (optional)
WLAN Static IP: Supported (optional)
Remote admin: Supported (optional)

Someone with expertise in this area might want to consider creating a business plan to provide this and pitch it to BitAngels:
907  Other / Beginners & Help / Re: I can't post on any board. on: June 04, 2013, 02:06:29 AM
I was actually looking to find out why i used the search but i can't figure it out.

Newbie jail restrictions.

908  Economy / Service Announcements / Re: [ANN] BitcoinSpinner on: June 04, 2013, 01:35:55 AM
The sources are open and if you know a skilled blackberry developer up for it I'd be happy to give him my support.

So is this, from a Kévin Forest, not an approved release?  (it is named "Bitcoin Spinner"):
909  Economy / Speculation / Re: Will bitcoin value increase with difficulty? on: June 04, 2013, 01:20:47 AM
For more difficulty vs price;

Hey, I recognize that!   Grin


910  Bitcoin / Bitcoin Discussion / Re: Are ASICs having a major effect on difficulty yet? on: June 04, 2013, 12:47:28 AM
Since it takes so long for people to receive theirs, would they have much effect on the difficulty at the moment?

Well new orders that aren't going to ship for weeks months obviously wont have any effect on today's difficulty, but ASICs now being delivered for previous orders are certainly responsible for this:


[Edit: And that's likely just the beginning of where it begins to rise.]
911  Economy / Speculation / Re: Will bitcoin value increase with difficulty? on: June 03, 2013, 11:54:58 PM
But I believe difficulty lags price by a month or so.

There was a pretty clear pattern (difficulty rises lagged behind price increases by three to eight weeks) when GPUs were the primary technology used.   Currently the rise thanks to ASICs will rise regardless of the direction and rate of change of the exchange rate.
But for sure, there's no reason a higher difficulty yields a higher exchange rate unless for some reason there was not enough hashing occurring where the exchange rate was depressed due to concern that it wasn't high enough to provide sufficient protection.   Dan Kaminsky thinks we might be there again simply because a well-funded single supplier of ASICs can easily reach 51%.   Others think he is blowing smoke as who has five or ten million dollars to blow trying to prove his point.   Who knows.
912  Bitcoin / Bitcoin Discussion / Re: Is difficulty going to rise so fast that on: June 03, 2013, 11:48:08 PM
If it does, people will panic about their power bill,

Depends on whether you are talking GPUs or FPGAs and ASICs.

With ASICs there's a loooonnnnngggg way before the cost of electricity comes back to being a relevant factor as far as profitability (where you'ld consider unplugging).   It was that way with GPUs for a while ( ~ Sept - Jan, 2011), and that will happen again soon thanks to the volume of ASICs now reaching miners.   FPGAs eventually will hit that point but even they are still wildly profitable in terms of generating more revenue than the cost of electricity to power them.  
913  Bitcoin / Legal / Re: Trading on BTC-E on: June 03, 2013, 11:32:38 PM
Also, I just noticed the subject title reads specifically BTC-E.

Sometimes people are asking not whether the tax laws apply to a certain transaction but instead are trying to learn specifically about non-compliance.

BTC-E can be accessed via Tor -- which provides a way to transact without the exchange having your IP in any logs.

BTC-E allows anonymous accounts.

Anonymous accounts (or any account that hasn't had a bank transaction ... as a deposit or as a withdrawal, and hasn't had to verify the account for AML/KYC purposes) can trade digital currencies and the account can be defunded (all funds withdrawn) without providing identity, up to certain limits -- though there are some exceptions.

The exchange still likely has a log showing which Bitcoin addresses were used to add funds to the account, and which alt-coin addresses those funds were withdrawn to so there's the possibility of tracing your deposit to your withdrawal even though no bank account or identity had ever been used.  Mixing services might lessen the traceability.    I've no idea if that level of tracing happens but you should know it is possible.
914  Bitcoin / Legal / Re: Trading on BTC-E on: June 03, 2013, 11:18:30 PM
If I just trade one crypto for another, do I have to worry about taxes? or do I just worry when trading back to Fiat? I'm a US citizen if that helps.

Generally the taxable event occurs when you close a position.  So if you are selling bitcoins it won't matter if the exhange is to dollars or another virtual currency, you have a gain (or loss) on the original position.

Disclaimer: I'm not a tax accountant.

Some more info:
915  Bitcoin / Development & Technical Discussion / Re: Cooperative unmixing for anti-money-laundering on: June 03, 2013, 08:18:38 PM
encouraging model citizens

Financial privacy is NOT A CRIME!
916  Bitcoin / Development & Technical Discussion / Re: Can two computers use the same wallet keys concurrently? on: June 03, 2013, 08:12:18 PM
I know I can't double money, but theoretically I think this should be possible, as a redundancy. Does anyone have experiences with that?

The Bitcoin-Qt/bitcoind client does not handle a situation where you've double spent very well at all.   If you were, for instance, to spend from one client while a second was offline, then launched the second right after making the transaction then the second client wouldn't know of the transaction until either the first client re-broadcasts the transaction (perhaps not until an hour later) or else if the transaction gets included in a block.       So then let's say you make another spend transaction from the second client and if it uses the same coin as was already spent then that transaction will be invalid and will never confirm.

It gets worse, ... the Bitcoin-Qt/bitcoind client doesn't have any easy way to remove that invalid transaction that you've made.   So that transaction and any coins it used will be locked in a 0/unconfirmed status on the second client.

Additionally, the key pool will start to diverge between the two wallets.  So your balance on one client will eventually show different from the wallet on another.   And both will need to be backed up and kept separate.

So, in other words .. for most people, sharing a Bitcoin-Qt/bitcoind wallet among multiple computers ends up going badly.  
917  Bitcoin / Legal / Re: Filed a request for an administrative to FinCEN this morning. on: June 03, 2013, 07:51:20 PM
I also brought up the scenario of operating an eWallet which involve only a single virtual currency and no real currency:
BTC: Person A -----> Wallet Provider -----> Person B
USD:  None

That's the question I had, since the guidance states:

The term "money transmission services" means "the acceptance of currency, funds, or other value that substitutes for currency from one person and the transmission of currency, funds, or other value that substitutes for currency to another location or person by any means.

918  Bitcoin / Project Development / Re: Branded Bitcoin Tablet Devices on: June 03, 2013, 07:19:10 PM
I would like to gauge how interested and receptive the community is to a Bitcoin tablet device.

I was thinking about the need for a Tor Tablet, with a bitcoin wallet, on a secure O/S or at least configured to be as secure as you can get on a consumer-level device.   This would be for the person who simply wants a device for use with Tor that is completely separate from anything else ... i.e., so they don't need to install Tor on a laptop or desktop or other mobile / tablet / etc.

Additionally, how about an online gaming tablet for shared use.    Essentially this would be something that a bar or club could hand out to a customer, already loaded with some funds for the customer to use for play (e.g., on bitZino or some other site, depending on what the customer wanted to play. ... there's plenty ), and then when the customer wants to cash out they can do it themselves or the club could do it for the customer.

[This could be tightly controlled by the club by setting up the account on bitZino requiring two-factor auth on withdrawals only)]

But then when the customer is done the tablet gets reset to a specific image (e.g., re-loaded) so there's no risk of malware / etc.

Of course, in the U.S., each state has gambling statutes and offering this device in this manner would not likely be allowed (some states don't have a problem with you gambling in a bar, just as long as the state gets its huge cut of the action - ).   But there are other parts of the world where it wouldn't be a problem.
919  Bitcoin / Bitcoin Discussion / Re: Would you sleep with me for $100, No? how about $1,000,000. Maybe? on: June 03, 2013, 06:26:51 PM
yes we early adopters will win a bunch debt/military based money

You presume those cashing out bitcoins for fiat then store that value in fiat.   We don't know where those funds land.   If they stay as fiat then they are available to buy back some coins should the exchange rate drop again in the future.     Other times they are going into other forms of value, such as precious metals, or investment, etc.

The reason it isn't a problem that people will sell some bitcoins after there are gains in the purchasing power is because with Bitcoin the system isn't set up to enrich the money changers.   In the U.S. there are many tens of billions in banking fees (monthly account fees, NSF fees, etc.) and that fiat banking system enriches the bankers.   Bitcoin has transaction fees but they are tiny fraction of the amount the banks get and they go to those who openly compete to earn those fees.

In other words, fiat money goes back to the bankers a fraction at a time with each transaction.   With Bitcoin this isn't the case -- so if there are parties who want to acquire bitcoins they are paying market prices for them and gaining them that way.

But once they have them they have no advantage over anyone else anyway.   It isn't just those who hold bitcoins that have ultimate power, it is those who are willing to buy the miner's proceeds ... they, the economic majority, are what will remain decentralized.
920  Bitcoin / Meetups / Re: Central Iowa meetup on: June 03, 2013, 06:08:47 PM
I'm looking to start a central Iowa btc meetup in the Ames or Des Moines area.  I'm hoping to understand if there is any interest here or if anyone has any suggestions for such a meetup in the central Iowa area.

With all the retail locations in that area who take Dwolla thanks to Des Moines being home to Dwolla's HQ (and there being an easy way to cash out from BTC to Dwolla USD, through Camp BX) and also the ability to get fast (same-day) transfers of USD funds from a bank account to an exchange (thanks to Dwolla's FiSync transfer gateway from Verdian credit union), Bitcoiners in the area have it easy!

It makes for an easy way to plug bitcoin too.  Each merchant you visit and pay using Dwolla you could then suggest to the merchant that if they also accepted Bitcoin for payment they'ld receive some additional business from Bitcoiners who have a much lower number of merchants they can buy from and pay directly with bitcoin.   And since the merchant accepts Dwolla they already have the equipment (e.g., iPad tablet, or desktop system, etc.) to accept Bitcoin for payment as well.  
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