There isn't anything that the bitcoin foundation can do about it. If bitcoin became a powerful force, or cryptocurrencies in general, it would probably encourage governments to bring in taxes via sales tax rather than income tax.
Exactly. Income tax are disgusting violation of financial privacy. |
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Wasn't sure where to post this, so I thought I would post it here
If you guys haven't heard about FATCA, you should look it up. It's major US legislation, set to go into effect in January 2013, that requires all International Financial Institutions with American account holders to report account information to the IRS. It's a pretty big deal, but it has gotten relatively little attention from the media. Anyway, the purpose of this is to crack down on US tax evaders.
I wanted to see how you guys think this will affect BitCoin as tax cheats start looking for alternative ways to evade taxes.
If you want to avoid tax cheats, get rid of the IRS and just get all your money from sale tax. Other than that, it's an invasion of financial privacy and everybody who vote for the law should be persecuted for treason. |
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For one, if there were any legitimate SEC concern they'd have sent word. You don't talk to the small players (ie, GLBSE with it's 10% of the market) without talking to the big players (ie, MPEx, with its 80-90%).
For the other, we're prepared to see the matter to court.
Or maybe they just don't know about you? |
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Kludge: Maybe it's time you splurged the hefty sum of 20 bitcoin to move over to the one exchange that actually works. By "actually works" I mean charges 1/4 as much per transaction as GLBSE does, is down an infinity percent less and in general has an infinity percent fewer issues, troubles, problems, defects and so forth.
Nefario: You are obviously unqualified to be anywhere near a project of the complexity of an exchange, even for play money (which I suspect BTC are, for most of you here, at least judging on behavior records). I will make you precisely one offer to buy the thing from you, so you get to actually make some money for all your effort over the past year, as misguided and mismanaged as it may have been, rather than have to walk away from a worthless wreck (like Zou Thong/Amir&co have with Bitcoinica). If you have half the maturity you should have to be involved in all this you will take this offer seriously, and consider your options carefully. Feel free to make contact via pm or in #bitcoin-otc-eu.
No offesne, but what will prevent the SEC from hammering down on you? |
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Can we finally wake up and realize it's not safe to hold unregulated capital markets in centralized Web services operated by anonymous and quite possibly Nefarious individuals?
There are alternatives. The truth is out there.
If someone can figure out how to operate anonymous corporations that are nonetheless ethical and is held responsible, they will rake in the dough. |
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well, back to square one: trust noone
Well, I managed to not lose any bitcoin via sheer inactivity in the economy.  |
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So, he decided to screw his reputation with the community in the hope of not getting jailed by the gubernment. This is not going to end well.
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I am glad that I am uninvolved with 99.99% of bitcoin businesses at this point, including the GLBSE. I now have the hindsight that they are ways to lose bitcoin rather than gain bitcoin.
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From watching last months activity on the Bitcoin wolrd it would seem that the Pirateat40 downfall has triggered the scrutiny of various other bitcoin businesses by government authorities.
Now GLBSE is gone. Who will be next?
For good reasons, they're scams. For bad reasons, it's unauthorized. |
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All i have to say is lol. Just how many people are scammers on this board? It is amazing.
Nefario isn't a scammer until he got caught by the law operating a security exchange without the permission of authorities. The fact that the GLBSE is a cesspool of scam funds and questionable investment makes me...who give a fricking hoop? |
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=
I do not approve. There has to be another way.
When it's all said and done, all your money will disappears and Nefario will be in jail. |
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GLBSE should have been a black market operation, no offense. The fact that the founder is known and visible and that the exchange is centralized is a big red flag.
Also, the GLBSE in its current incarnation doesn't work well with anonymity, as there were a number of scams and scandals that were the result. If you could solve the scamming problem, unsanctioned and unauthorized business will have a place in the world. Other than that, a GLBSE is not a good idea.
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Rumors of our near death is greatly exaggerated.
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I am underwhelmed and unconvinced.
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Did they mention the word "bitcoin"? IF not, it doesn't belong here.
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This is enough to hire a team to do it for you already, provided the timeframe is not too immense. You get what you paid for.
How about paying a team to do it open source? |
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An autonomous, self-regulating monetary system with un-tweakable hardcoded constants will render obsolete not just the idea of central planning, but also as the armies of "economists" employed to justify it.
What you're saying? Bitcoin is a goldmine of information for any economist. All the information about economic flow is public, yo! |
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NSA is not always an evil organization that seeks to add a backdoor to everything, ya know? How would NSA like it if they propose a backdoor to their own government, and enemies use said backdoor to break into it? It would be beyond stupid.
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Commentators are a bunch of idiots who don't understand what a ponzi scheme is.
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Deflation won't kill us, because we have to spend money eventually on food and water. There's always a demand that can't be squished by monetary incentives to save.
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