For those who may not be aware MtGox level 3 verification requires a notarized and apostled copy of a government issued ID. In the US the only entity that can attach an apostle seal is the state government (usually the secretary of the state personally) and thus there is a single office for an entire state. So the process is: - Make a photocopy of your government ID (MtGox prohibits blacking out or redacting any info).
- Get it notarized locally.
- Mail it to the state capital.
- Wait a week.
- Have the state mail it back (at your expense).
- Then mail it internationally to Japan.
MtGox website currently reports this is the address for AML documents: https://mtgox.com/forms/verification Mt.Gox AML
Cerulean Tower 15F,
Sakuragaoka-cho 26-1, Shibuya-ku
Tokyo, Japan
150-8512 So I have spent over a $100 and almost two weeks getting this stupid apostled document to them. Thankfully my AML limit will be raised. Lets check USPS this morning. Hopefully the end of a very long, pointless, and expensive process. USPS reports: , , US 10/17/2012 2:57 PM ATTEMPTED DELIVERY ABROAD
, , US 10/17/2012 2:49 PM ATTEMPTED DELIVERY ABROAD  That doesn't look good. My money eating, time wasting docs with sensitive information are taking a joy ride through Tokyo. Let me check with MtGox support; I am sure they have a good reason. Hi, Thank was our old address and I have mentioned below the address to send AML Notarized document's. Please send the documents again to below mentioned address. Mt.Gox AML Round Cross Shibuya 5F 11-6 Shibuya 2-Chome, Shibuya-ku Tokyo, Japan 150-0002 If you have any further enquiries, please do not hesitate to contact Mt.Gox Support either by responding to this email (should the enquiry relate to this ticket) or by using the following support request form: https://mtgox.zendesk.com/entries/20256702-contact-us. Thanks, MtGox.com Team TICKET MARKED CLOSED/RESOLVED.I am beyond furious right now. Well this is not the only case. I am also in the process of getting trusted status at MTGox. In Canada it is the Federal Government that has to Authenticate the documents and they have a turnover time of 25 business days. This means the documents have to be shipped by courier to Ottawa, ON and then back to me. (in my case a distance of over 8000 km). The cost for the notary and couriers came to close to 200 CAD. I also shipped the documents to: Mt.Gox AML Cerulean Tower 15F, Sakuragaoka-cho 26-1, Shibuya-ku Tokyo, Japan 150-8512 as per their instructions, and used FedEx. I have contacted FedEx and they confirmed to me that indeed the documents arrived there last Monday. At this point I have a open ticket with MTGox on the matter so until this is settled one way or another there little for me to comment further. |
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Mike it is a webpage designed for use on a phone or tablet. Right now it's just a large screen version of our Mobile Checkout. But we will add new features to it soon. The banknotes are something we would like to support. No extra scanner required!
So it avoids the whole Apple censorship issue for those merchants who wish to use Apple products as their POS. |
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I suspect Canada will be like UK law seeing as the Queen of England is it's Monarch (The Crown)
Use of alternative currency is not illegal
Use of barter trades are not illegal
but only contracts in legal tender are enforcable by the courts
the way to make a bitcoin trade enforcable by a crown court is for both parties
to agree, in writing, the value of their barter in the local legal tender.
(this also makes the trade subject to local sales taxes)
example:
I have a car worth CAD$10,000
and agree to take
your bitcoins worth CAD$10,000
(including all applicable taxes)
signed by I and You
Then you have a legally enforcable contract by the crown court and something to keep your accountant happy with.
The GST and its possible application to Bitcoin is quite interesting. https://bitcointalk.org/index.php?topic=77186.0 |
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I very much doubt the US government would this go this route because it simply would not work. What they can do, which in fact can even be argued is the case under current laws, is treat Bitcoin as a foreign asset and require every US person holding more than 10000 USD worth of Bitcoin in the blockchain to report their holdings to the IRS. This argument is based on the fact that the majority of the Bitcoin nodes and mining hashpower is out side of the United States.
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What is your benchmark? You are talking about $1. That is not a lot of money anywhere and is not crippling anyone - a device capable of running Bitcoin is still in the order of $50.
Right. So only well-to-do merchants can afford such a device, and folk limited to brainwallets and earning 0.0457 BTC a day might well find a cheaper blockchain based currency, with its presumably lower fees, more suitable than bitcoin for their needs. -MarkM- The fees and limits I mentioned arise only because of suggestion of using Bitcoin in conjunction with another crypto-currency such as Freicoin requiring the trading between crypto-currencies. If one sticks to only Bitcoin then the poorest of the poor can use it in an extremely cost effective manner. As for devices to run bitcoind for free or very close to free there are all sorts of options including the many perfectly good computers that are discarded or "recycled" every day because of problems with Microsoft Windows. Ditch Windows, install GNU/Linux and give it a way to a needy person. This has the added benefit of addressing the growing environmental problem of e-waste. |
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That's not exactly what Freicoin intends to do. Their goal is for Bitcoin to remain the long-term store of value, while Freicoin becomes the high-velocity everyday currency. Even poor people could exchange effortlessly back and forth because they're both cryptocurrencies.
No poor people cannot effectively change small amounts between crypto currencies because even with crypto currencies minimum fees and limits can cripple them. I actually ran into the following situation yesterday. I received 10 NMC from a mining pool and decided to sell them on BTC-E for BTC to produce a grand total of 0.042 BTC. When it came to withdraw the BTC I find that there is a minimum of 0.1 BTC for a withdrawal amount and a fee of 0.01 BTC. This is not intended as a criticism of BTC-E in any way as there are many valid reasons an exchange to do this but rather to illustrate how even a very small minimum and fee can hurt the very poor. To put this into perspective the daily GDP per capita in Somalia or Burundi works out to 0.0457 BTC (based on an annual 200USD per capita GDP and a BTC/USD rate of 12). This means that a significant proportion of the population in Somalia or Burundi earn way less. "Why would I ever use Freicoin, then?" everyone asks. The theory is that loans would be easier to get in Freicoin because of its interest rate. I'm personally not 100% convinced that these loans are desirable, so the Freicoin forum would probably be more inclined than I to debate its economics. I say we just do an experiment.
So if one believes that demurrage is a good idea, they can put their money where their mouth is. Freicoin will either confirm or disprove the merits of demurrage, and IMHO that's better than arguing until we're blue in the face.
The issue here is one of perception (image) vs reality (substance). The perception is that a demurrage currency (Freicoin) favors the poor over the rich while a deflationary currency (Bitcoin) favors the rich over the poor. After all the rich have more money than the poor. The reality is the exact opposite. Bitcoin actually favors the poor while Freicoin favors the rich. Unfortunately we live in an age where image more often than not trumps substance so it is not surprising at all that the Occupy Movement would come up with Freicoin and be skeptical towards Bitcoin. |
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Ooh, zombie thread  Last I checked the occupy movement had it's own cryptocoin similar to bitcoin but with characteristics more like scrip. I'll put on my tinfoil hat and guess that was a malicious creation to put in a division between the occupy movement's followers and bitcoin. Scrip makes more sense from their point of view but supporting bitcoin is more likely to achieve the greater part of their objectives than trying to get their own currency off the ground. Occcu is a joke, but they're still working on Freicoin. I'll be happy when Freicoin starts trading for Bitcoin, if nothing else so the following conversation can take place: Me: "Bitcoin is everything you want but it deflates and is decentralized." Occupant: "Pure deflation = no deal! We want some board to vote on how to spend our money." Me: "Ok, then use Freicoin." (Months pass...) Occupant: "Now I understand the technicalities of cryptocurrency, and have diversified into at least some Bitcoin." IMHO it will be much easier to cooperate than to be combative. What matters is that we give people free choices, and if we're right they'll come around gradually. Freicoin has to be among the worst concepts in a currency ever conceived. Why? Because it does the exact opposite of what it tries to do. If I were to create a currency to benefit the wealthiest 0.001% of the population at the expense of the poor then demurrage is the way to go. To understand this one simply needs to consider that the typical billionaire may actually have less physical cash than the typical occupy protester. Billionaires can easily avoid the cost of demurrage or inflation for that matter by "putting their money to work" but the poor cannot because of the fees involved with "putting their money to work" relative to the small amounts they have. |
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I suspect the developers have no option but to block access to avoid serious legal problems in the United States where the lead developer is based. The same would occur is many other countries for example Canada. I actually support the developers doing this for this very reason. That been said what is to prevent someone in a jurisdiction that does not have sanctions on Iran from downloading the software and then making it available via a server or bit-torrent? In the latter case for example on TPB.
I suspect the developers don't give a fuck as they've been ignoring my questions about this very issue since 1.3a. There are sites which are more embargo-compliant and others that are less compliant and the bitcoin project also uses Italian domains or others that would not have any legal issues linking to open source for Iranians. Actually if the USA wouldn't be scared of Bitcoin, it could use it as a weapon against Iran alongside its USD to destabilize the IRR. If this is a concern why not simply download the source code and binaries and put them on a server not affected by this issue. This is after all the whole point of Free Software / Open Source software. The developers do care which is why the software was released under a Free Libre Open Source software license. |
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One of the most likely consequences is that many banks and other financial institutions will simply avoid the problem by refusing to deal with US citizens effectively making US citizens financial pariahs abroad. Others may also limit the products and services they make available to US citizens. You can open a basic chequing account but not buy units of that high performing hedge fund. As for Bitcoin I can see: 1) Bitcoin exchanges refusing US Citizens. By the way this is already happening. Ever wonder why Virtex requires Canadian Citizenship is order to open an account? 4.7 The VirtEx service is not intended to be used by any person under the age of 18 years old or by anyone other than a Canadian citizen. Your use of the VirtEx site shall serve to confirm that you are both 18 years of age or older and a Canadian citizen. https://www.cavirtex.com/terms2) Ex-pat US citizens being forced to used Bitcoin to avoid what can become an effective worldwide banking blockade against them. |
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I suspect the developers have no option but to block access to avoid serious legal problems in the United States where the lead developer is based. The same would occur is many other countries for example Canada. I actually support the developers doing this for this very reason. That been said what is to prevent someone in a jurisdiction that does not have sanctions on Iran from downloading the software and then making it available via a server or bit-torrent? In the latter case for example on TPB.
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new short term update issues to subscribers
Sweet. Let's get this show on the road. Sweet. For the bulls or the bears? PS. I am a subscriber so I am not going to say. |
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Like many of you, I hold a substantial number of Bitcoins. I am interested in seeing the value of those coins go up vs. the USD so that I can sell my coins for USD in future. For me, there's no other reason to have them.
I actually think that the more able members of our society have a duty to help the weaker members, so I don't have any weird libertarian fantasies. I'm just in it for the money. The actual, folding, bank account, Visa card money.
So how can we push the price of Bitcoin up so that we can sell our coins for more? As everyone knows, in order to increase prices we need to spike demand. So why would anyone want a Bitcoin?
When Silk Road became popular last year, everyone saw how it pushed up the price of Bitcoin. I haven't actually seen many people on this forum acknowledge the fact that Silk Road is driving the Bitcoin economy. There's simply not much else to buy with Bitcoins, and unless you are a currency speculator or a Bitcoin devotee there is no other reason to turn your government backed cash into Bitcoins.
I sold a lot of coins last summer, and I made over $100,000 clear profit from an initial $1000 investment, and that was from only about half of the coins I bought for that $1000. I still have the rest. I am sure a lot of you cashed out too, for even bigger profits.
I am sure that the increase in price that I profited so much from is down, mostly, to demand spurred on by Silk Road.
There is only one reason for a normal person to want a Bitcoin - to break rules, laws, and regulations. This is the future of Bitcoin, this is what will drive the price up, and I think this is what we should all be focusing on.
I'd be interested to hear people's thoughts and ideas about this. I think that gambling in the USA is an untapped market but there may be other laws that we can help people break with Bitcoin too.
Bold my emphasis. A very large proportion of the world's population do not have a FICO score let alone a good one, credit cards or even a bank account. They are in fact the world's poor, and for them Bitcoin may well be the only alternative to cash or paying usurious service charges. So unless one criminalizes poverty there is a huge legal market for Bitcoin. By the way online purchase is a horrible model for illegal drugs, particularly the highly addictive ones. How many heroin addicts are going to wait two weeks to get their fix in the mail? No they will buy from the local dealer for cash and go into the nearest dark alley to shoot up. Ditto for crack meth etc. |
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It is also Thanksgiving in Canada so the banks in Canada are closed Monday.
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Bitcoins have been taxable since day 1. So how can the Bitcoin Foundation seek something that has already been happening for close to 4 years?
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The real answer is you need legal counsel.
... There is nothing in the SEC regs which limit the securities subject to regulation ONLY if they are bought and sold with USD. ...
+1 The same is likely true for most securities regulators anywhere in the world. Only replace USD by the corresponding fiat currency. |
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I am curious why, in a nutshell, someone would want to 3D-print a relatively poor quality gun. Where in the world does this make the most sense?
Here in Utah, I can buy all of the high quality guns I want just going to a retail store. If I wanted to fill a shopping cart with big guns, the people selling them would be enthusiastic to let me. I'd undergo a background check, but that would be no problem, and then the only thing standing between me and a giant arsenal is just the lack of desire to acquire one. So for me, since big high quality manufactured guns are just a shopping trip away, a 3D-printed gun wouldn't make sense.
Meanwhile, I value the fact that those convicted of violent felonies and those with certified mental illnesses can't do the same. Many of these people really are unpredictable and dangerous when armed, keeping guns out of their hands serves a relatively undisputed purpose, and I am not convinced of the value of creating an open-source weapon solution that would circumvent this control and arm this group of people. Even the most rabid gun freaks aren't asking for this. Can someone give me the tl;dr on why they believe this would be a good idea in the interest of society?
Because there are many parts of the world where otherwise law abiding citizens cannot easily obtain guns. Now if one considers having law abiding citizens armed as a way to keep the government honest and democratic then this does make sense. |
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The word "seizes" seems a little hyped up: the company simply exercised an option it apparently gave itself in a lease to discontinue the lease, and then repossessed it. Sort of more like evicting a tenant from your own property, rather than evicting a homeowner from theirs and moving in.
Perhaps they could just find a way to buy the printer, and then nobody would have the right to repossess it. Or else, someone else could buy it and lease it to them.
The company had every right to cancel the lease and take the printer. Now if the printer is sold and the drivers, software and operating system are Free Software / Open Source then these kind "seizures" cannot happen. If the printer is sold but either the drivers, software or operating system is propriety then one of the copyright holders could also prevent the printer from being used for a purpose not authorized by their EULA. So to be safe buy the printer, and use it with Free Software / Open Source drivers and software on GNU/Linux. |
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The SEC would have to get a court order and contact the appropriate authorities / court in Japan. Alternatively one of pirateat40's creditors would have to sue him, get a judgment in the United States and then register the judgment in Japan.
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They are different systems; however I can see how Hawala brokers can use Bitcoin for settlement or to transfer funds between users and brokers.
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