It is not only that this spamming of the blockchain may have legal implications. Their "service" as they present it on their homepage also violates AML regulations both in Great Britain as in Canada, thus have been reported with some forensic evidence to the authorities.
UK has no money laundering obligations, don't know about Canada |
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Current primary offer, for colocation at a Tier3+ data centre in the heart of London:
22Us of space.
1Gbps of high quality bandwidth (up and down, without any limitations/fees on further usage) connected directly to backbone providers, with your own /26 of IPs.
You're allowed to operate TOR nodes/services on your hardware, and your services shouldn't be cut off for SJW brigading so long as no content known to be hosted on your servers with your knowledge is illegal.
Special Offer:
First person to take this deal, for £800 a month (plus VAT) will have five servers, which run all SSDs and mostly 4/6 core Xeons, along with networking hardware thrown into the deal for free.
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Being sold because I have no need for it any longer. It is a fully functioning Wacom Intuos Pro Large ( http://www.wacom.com/en-gb/products/pen-tablets/intuos-pro-large), which costs £430 new. Purchased about a year ago but not used much since, has been gathering dust. There is a scrape/dent in the bottom left outside of the working area of the tablet. This does not effect the operation and is not particularly noticeable. Reserve price of £250. Seems silly to start bidding below this, so bids start at that point. BIN £380. You cover postage, and I will send it anywhere in the world. My reputation: http://www.btcalpha.com/wot/user/williamdunne/ |
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a voucher system will help a lot...it will be like storng the coins offline
For redeeming BTC? While its a good idea you do still have to trust us not to run off with the coins - while we certainly won't be doing that its probably better for you to not have to trust us! |
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Beside security and everything else, I rather see the current exchanges collaborate on working on having a single orderbook.
Current exchange orderbooks are nothing more than a joke. It will result in something that many people are looking for. Stability.
The issue is that it requires you to trust more than one exchange, although we would be looking to aggregate one of the larger exchanges order books and pushing for market makers. |
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Well, the only thing I would like to see is : the exchange will never run away with money or got hacked and lost our money.
That one is hard to prove, except with time. |
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Flawless security.
Fast deposits and withdrawals.
Free deposits and withdrawals.
Unrealized profit/loss and costs calculation.
Leverage trading.
Would you mind filling in the form with this information? The data from the form will be used to decide on one of two paths, one of which meets those requirements, the other doesn't. |
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personally it's very important to see a
good api support and everything related to that(execution speed ecc...)
many fiat value , not just usd(i hate when there is just usd)
order type should be advanced
also a clean front page, basic stuff nothing too fancy
withdrawal and deposit should be as fast as possible, with low fee
and others stuff that don't come to my mind right now
How about leveraged trading? |
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Yes you can.You use there banking system and it sends your money anywhere you want but it wont help you do anything illegal
You have to use their bank accounts, unless I am mistaken. I wasn't suggesting anything illegal but simply an expansion into a new territory. |
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Basically I am saying that the user should deposit 1btc and then 1 coin should be given to an escrow agent as a money back gurentee
Thanks for your explain, As you know, our system is investment such as PAMM account, but without using meta trader or pamm account. You can see all pamm systems that how it work. Similar to: https://www.instaforex.com/ir/for_pamm_investors.phphttp://alpari-forex.com/en/investor/pamm/investors/etc Anyway, We're trader so we can't unused any money. If 1 BTC give to an escrow so investors how can get profit? because 1 BTC is unused and we just trading with our own money, so benefit is for owns. I think my words is rational. btc-e offers PAMM accounts. Set up your own account on there, trade for 30 days and if you do the promised returns I will invest 1 BTC in you personally on the PAMM site. https://pamm.btc-e.com/en/Pamm/anatolioThis allows us to follow your trading strategy, and you can take fees from profits. |
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Got it
Thanks
Duke
IMO their solution is pretty poor. You basically create a landing page for their exchange, you don't supply anything other than that. For example you can't set up a bank account in Thailand and suddenly accept deposits into it with their system. |
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The issue is Germany interpreted MiFid as covering bitcoin exchanges. Bafin is the regulatory body that is relevant to this, but there is no such thing as a money transmitter. The closest thing to that terminology would be a payment institution which is the relevant law in France + Luxembourg.
That is like saying that the London Stock Exchange is pretty much a remittance company.
But yes, that is the most likely reason, sounds like a lawyer of theirs is a little jumpy because generally speaking its not how EU regs go, but I don't know how much of a difference the fact its P2P bank wise would make. Yes thanks for that friendly explanation. I bet the lawyer got a letter from...... bafin which is the regulatory body that is relevant to this. bitcoin.de is p2p and needed the ok from ....... bafin. LBC is lacking this. bitcoin.de is in Germany so subject to their laws, of course MiFid is EU laws but its just Germany's interpretation. I may be missing something but I think they are just scared. |
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Derp.
To start with, there is no money transmitter license in Germany.
Second, according to Germany's interpretation it comes under MiFid.
They potentially (I think not, because jurisdiction) need the licenses required for a 'Multilateral trading facility' which is a step down from a full blown commodities/stock exchange.
But yes, that is why Kraken/Bitcoin.de use Fidor's license. As that covers MiFid. First of all you are going to need a license from bafin whatever you want to call it,"transmitter or not" the bafin gives you a license. People that wanted to have ATMs were told they need a license from bafin. Second of all if you are going to sell bitcoins on a comerical basis in Germany you are going to need the ok from bafin. The issue -could- be that LBC is registered in finnland, I think. That is in the EU and then they might have to comply with some EU regulation or could be presured by an EU coutnry more than a company not based in the EU. The issue is Germany interpreted MiFid as covering bitcoin exchanges. Bafin is the regulatory body that is relevant to this, but there is no such thing as a money transmitter. The closest thing to that terminology would be a payment institution which is the relevant law in France + Luxembourg. That is like saying that the London Stock Exchange is pretty much a remittance company. But yes, that is the most likely reason, sounds like a lawyer of theirs is a little jumpy because generally speaking its not how EU regs go, but I don't know how much of a difference the fact its P2P bank wise would make. |
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It is an intersting move, maybe they are just protecting themselves. Currently as bitcoin is "private money" you are allowed to sell it, but if you are selling in a commerical manner, repeat sales ect then you need a money transmitter license.
ATM operators also need a money transmitter license for the most part.
It is not easy to get a money transmitter license in Germany, this is one reason why bitcoin.de had to partner with fidor bank to even be allowed, and it is a p2p exchange. This also could be a reason why skrill has its company registered in England but is more or less a German company.
Derp. To start with, there is no money transmitter license in Germany. Second, according to Germany's interpretation it comes under MiFid. They potentially (I think not, because jurisdiction) need the licenses required for a ' Multilateral trading facility' which is a step down from a full blown commodities/stock exchange. But yes, that is why Kraken/Bitcoin.de use Fidor's license. As that covers MiFid. |
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We're looking for an engineer competent in PHP/HTML/client side JS and C# to come on board as a co-founder. Ideally located in the UK.
Please drop me a PM if you meet the description so far.
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My bad, sorry!  Don't be, you were right. |
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