He couldn't call the cops on they guy he has no legal right to be there and do that. If I pursued all the avenues so I could legitimately put an ATM there first thing to do is ask the cops to approach this person and ask why they are doing business illegally and watch while he's arrested.
Coming up with some guidance and case law to squash the likes of this guy sounds a good task for the Bitcoin Foundation trade group. He's clearly a threat to their membership. They can work in integrating DRM into Bitcoin as a parallel project. No but the owners of the coffee shop can ask him to leave. If he refuses then call the cops. Edit: As for DRM in Bitcoin one needs blobs of propriety code and closed propriety networks in order to hide the private keys for DRM to work. This will not work with Bitcoin since it is FLOSS and an open network. |
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What struck me is that the regulators has really done their homework and asked some very insightful questions, which is some cases did not get the best answers from the panellists.
Asking what amounted to a question about the risk of a 51% attack for example is a very insightful question form a regulator.
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Well actually there is a law. It is the BSA (or more correctly "The Currency and Foreign Transactions Reporting Act of 1970"). The BSA gives FinCEN rather wide latitude in determining which institutions fall within its scope, and what regulatory requirements they must meet.
Which has nothing to do with bitcoins. @jballs - awesome name Did BitInstant only deal in bitcoins? ""The Currency and Foreign Transactions Reporting Act of 1970"" doesn't apply to selling bitcoins. Of course Feds will say anything since they have the most guns (for now). Does "The Currency and Foreign Transactions Reporting Act of 1970" apply to fiat transactions. Did BitInstant make fiat transactions? The position of the US Government when it comes to money laundering is that to all intensive purposes it make little or no difference if the funds being laundered are USD or BTC. Start with the FINCEN guidance http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html and follow the press releases of government officials. So the pirateat40 "funny money" defence will get you a jail cell. |
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It's interesting that, three of the four BRIC nations (Brazil, India, China, Russia), seen as the key emerging economies, are Bitcoin-Hostile...at least according to this map.
Brazil being the one of the four that is Bitcoin-Permissive.
Any thoughts on this?
Those countries have more to fear from exodus of capital than they could expect to gain from e.g. new high-tech companies (which will probably be established elsewhere anyway). Countries that have exchange controls are far more likely to be hostile to Bitcoin. The stricter the exchange controls the more hostile the country is likely to be. The best example of this is Iceland http://bitlegal.io/nation/IS.phpEdit: Brazil does not have exchange controls. As a general guideline, the RMCCI allows legal entities and individuals to purchase and sell foreign currency and perform international transfers in Brazilian Reais, regardless the nature of the operation, with no restriction with respect to the amount involved therein. http://www.deloitte.dbbrazil.com.br/show.aspx?idCanal=JHbAuQG9bBPQgRB4b/RKqA== |
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Are people upset at Mike Hearn over these features? Why?
This proof of passport idea is a non starter. It is also the responsibility of members of the community to constructively point out possible flaws with these kind of ideas. In this particular case this those of us who have multiple citizenships, and are as a consequence are eligible for multiple passports, have a particular responsibility to bring this issue to the attention of the community. |
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With that being said, why don't the exchanges hold more Bitcoin?
Because there are not enough people willing to sell. One can always get BTC at a price of course. |
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The problem is that Virtex may not have enough liquidity, so they went with BitStamp. There are currently only 98 BTC on Virtex at CAD 900 or below. Edit: It appears that propriety software is the root cause of this problem. I should have known. It seems that a lot of people don't quite understand the problem. I'm sure the guys at bitcoiniac appreciate all of the suggestions regarding alt exchanges etc. But the fact is that robocoin, the provider of the proprietary software used on the machines, don't support hot wallets or alt exchanges. Their software relies on bitstamp in order to collect their cut, and their machines can only use their software (per purchase agreement). In looking for a bitcoin teller platform for our upcoming launch in Denver, I was very concerned about the built in and forced reliance on an exchange. Fears confirmed. Good luck OP. From http://www.reddit.com/r/Bitcoin/comments/1w83db/weve_shut_down_the_buy_option_at_the_bitcoin_atm/ |
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The problem with proof of passport is that there are many people who have dual citizenship or even three or more citizenships. Since many countries in the world allow for dual citizenship these people can legitimately have several passports from multiple nation states. Furthermore dual citizens tend to breed dual citizens since many nation states recognize citizenship passed on from parent to child. This creates the possibility for a small family to have access to eight of more passports all legitimately obtained, more than enough to set up this kind of fake network. By the way Canada a nation with a large number of immigrants that allows for dual citizenship is a perfect location for this. Edit: Here is an example of the dual/triple citizenship attack on the proof of passport idea: https://bitcointalk.org/index.php?topic=433122.msg4765658#msg4765658 |
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So if one has dual citizenship and can consequently have more that one passport one can run more than one node.
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This article is silly. Really it is. better it's shit. If I was Chinese, I'd get as much money to the exchanges as I possibly could while there's still time. After the door shuts, bitcoin will be much harder to get, which will drive the price up. I think FUD is a Chinese word for "opportunity". If you were Chinese or not Chinese you could follow updates and know nothing will actually happen on the 31st. But what the heck, keep the BS flowing December 31st and China could turn out to be sell the rumour and buy the news |
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http://247wallst.com/investing/2014/01/23/4-stocks-that-dominated-djia-losses-on-thursday/JPMorgan Chase & Co. (NYSE: JPM) was down the most of the financial stocks in the DJIA. While this was not on direct regulatory news (for once), the drop was -2.1% and shares were at $56.35 in the closing minutes of the day. Jamie Dimon speaking to media in Davos at the World Economic Forum made no difference. ...
With the bears taking a bite out of the likes of Jamie Dimon is it really that surprising that the BTC/USD rate is going up? By the way The Goldman Sachs Group, Inc. (NYSE: GS) and Visa Inc. (NYSE: V) were also hit hard by the bears.
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Anyone who puts any money that they cannot walk away from (with a laugh) under control of someone they cannot ID and go after is a total dumb fuck in my opinion. Bitcoin's short history is replete with examples of why.
That's part of the reason I don't have a BTC-E or Bitstamp account. I value my document scans at about $10k so right there is plenty reason to avoid these two operators even if I could limit my losses by holding few funds with them.
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Everyone who provides any 'financial services' to the Bitcoin community should be pre-doxed IMHO. I wish someone would set up a service to do this. Most legitimate and responsible shops will dox themselves, but it would be of value to have someone proficient verify anyway.
While in principle this is very good advice in practice it is not. It comes down to making an informed decision between risk and reward. I started buying and trading BTC in the fall of 2011, and factored in the exchange counter party risk as a significant part of my risk vs return calculation when purchasing BTC. BTC has provided me with phenomenal returns over that last 2 years however it is also fair to say that those returns did not come without significant risk. Yes there will be a time when "everyone who provides any 'financial services' to the Bitcoin community will be pre-doxed", but the BTC / USD would also likely be 10,000 USD or even 100,000 USD to a BTC, rather than 5 USD or less to a BTC when I started buying, to reflect the lower risk. Furthermore those who bought BTC in 2010 from "some guy on the Internet" or in exchange for some pizza took a even greater risk than I did and had even greater returns. Edit: My last NMC / BTC trade at BTC-E was at 0.01251 BTC per NMC. Today NMC / BTC is trading at 0.00646. So yes I took a risk in trusting my NMC to BTC-E but I also got the reward for that risk. |
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I used BTC-E to trade NMC (that I get from mining) for BTC for over a year now. Never had any problems. I believe they are based in Moscow, Russia from old whois data and also their server is on Moscow time. If there is a government that could pose a threat to BTC-E I suspect it would be that of Russia. http://www.bloomberg.com/news/2014-01-24/bitcoin-gains-support-from-sberbank-s-gref-as-russia-plans-curbs.htmlEdit: I have not figured out how to get USD into BTC-E from Canada. At times I would have found this useful when the polar bears migrate from Canada (Virtex) to Russia (BTC-E) |
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It's snowing here in southern Louisiana! It's always hotter than hell here. Expect single digits soon!
the world is ending BUY BITCOINS!!!!!!!!!!! The world is not ending, but the bears are all over Wall Street. When the bears take over Wall Street the bulls have to go somewhere. BTC? Gold? Even US treasuries? |
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We pay USD 969.99 Is this for real? |
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I would keep a close watch on the US stock market. If the DOW and S&P keep crashing, I would not be surprised if we see BTC and other crypto currencies breaking out on the upside.
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