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Of course there is the issue of over regulation or competing regulation, with one agency saying it's a commodity (IRS) subject to onerous capital gains filing requirements, and another FinCEN acting like it's a currency requiring complex SAR/AML compliance. But my other concern is with covert dirty tricks to sabotage public opinion and consumer adoption. By it's very nature, it would be hard to expose, but even more detrimental to BTC and Bitcoin.
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The US has shown an increasing appetite to attack and destabilize those it dislikes (i.e. "Cuban Twitter," IRS TeaParty initiative, FCC Press Monitors). Given the Bitcoin community's support for rebels and renegades such as Julian Asange and Edward Snowden, as well as general anti-establishment ethos, does anyone think the US gov't will use it's Silk Road holdings or other influence to disrupt Bitcoin.
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Tax specialist Cameron Keng argues that "running a 'BitFDIC' could operate as a self-governing body. Read more at http://bitjuice.com/bitcoin-must-create-a-communitybacked-fdic This is the role Bitcoin Foundation should have taken up when in 2012 President Peter Vessenes said his 2013 goals were: 1) Publish a set of best practices for businesses transacting in Bitcoin, covering topics from accounting to physical and digital security. 2) Create an opt-in certification process for Bitcoin businesses. I've attempted to get Peter or the Foundation to respond to this, but have been ignored. Any one have a way to get their attention?
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Here's the link to download the Chrome extension Zinc Save, which clones your Amazon order and gives you all the discounts you're entitled to as well as a further Zinc Save discount ( http://bitjuice.com/a-new-browser-extension-turns-amazon-into-a). Overstock has had over a $1M in bitcoin purchases since accepting them in January with many of them new customers, critical to growth strategies. I'm sure Amazon is watching to see what kind of volume we generate through Zinc Saves, so spread the word, we can vote with our Bitcoins!
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We have NOTHING to do with http://www.humint.is/goxcoin/ or Mandalah. We are a group of European people who have invested in the bitcoin (not especially in mtgox) and who believe in the future of Crypto. We have no connection with the team of Mtgox. http://Http://www.humint.is/goxcoin/ apparently had a similar idea to ours and uses the same term "goxcoin". We don't know their intentions and have no relations with them. Our project has nothing to do with them. Perhaps you should come up with a different name than GoxCoin so people don't confuse you with the Mandalah proposal. Maybe something like UnGoxCoin?
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We're a new bitcoin news aggregator, so we search algorithmically for all the news from around the world, sift it by media authority, give a brief synopsis and link to the original article if you want more info. Also list links to all the related articles, like techmeme. Would like feedback on what you like, don't like and suggestions on how to improve. We have some ideas, but want to make sure we provide a real service, so would enjoy feedback. Feel free to message me. Check us out at www.bitjuice.com
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At least the Federal Reserve doesn't feel a need to regulate bitcoin. Chair Janet Yellen just testified before the Senate Banking Committee today. You'll remember Senator Manchin is the committe member who called for bitcoin ban yesterday. She said “It’s important to understand that this is a payment innovation that’s happening outside the banking industry. The Federal Reserve simply does not have the authority to regulate bitcoin in any way.” http://bitjuice.com/2014/02/27/janet-yellen-fed-will-steer-clear-of-bitcoin/
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I wrote an article about the Foundation's need to clean up it's act and refocus it's efforts. Mark Karpeles is the second of two Foundation board members forced to resign for misbehavior in less than a month. To put this number in perspective, there are now only 5 board members remaining today. Board member behaviors leading to these resignations give a black eye to the Foundation, the currency, and our community. It also cripples the Foundation’s role to enhance acceptance of Bitcoin, as stated in “Why We Need A Foundation,” ( https://bitcoinfoundation.org/about/why): “We see this foundation as critical for bringing legitimacy to the Bitcoin currency. Only then can we increase its adoption and positive impact on the world’s finance.” If anything, the Foundation, through failing to properly select honest representatives and to act quickly when those representative’s actions became suspect, is guilty of the very reputation damage they seek to overcome. If you're interested in reading more, go to http://bitjuice.com/2014/02/25/bitcoin-foundation-needs-to-refocus
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