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this title is totally misleading, i was hoping to see some nudity...
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What is escrow? Detailed explanation or link with one would be nice  try google and wikipedia  |
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hadn't seen this before, nice |
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That's the plan. We're on track to include business, technology, and bitcoins. The holy trinity  M I think you should include a couple people on the legal/regulation/political side as well. Anyhow I am based in Sweden at the moment for my MS, if you need help for... project management, talking to people, sales/marketing/bizdev  |
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I did have them running all 3 for a few days at a time, a d then randomly they stopped. I also tried different versions of amd drivers. Right now I am on the very latest and these seem to be working pretty well. But I spent probably 50+ hrs trying diff configs, its my first rig so no biggie but to have the card die in 4 weeks just blows.
Hopefully amazon/tigerdirect will take the card back, otherwise I need to send it back to visiontek I guess. Only issue is I am in sweden now for my masters so I am hoping the shipping wont cost an arm and leg....
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Its quite easy, most of the software is open source, just go look in the forums and follow the directions
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pm sent looking to buy 1btc worth
Umm nice sig... |
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I agree with this, you would be well advised to speak to your counsel. My limited understanding is that fincen registration flows down to the state level as well. There are some other threads discussing the subject in more detail. The reason is that if you receive dollars you are storing value which may be transmitted at some time in the future. |
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That's cool, and a very good idea.
It seems most US startups spend more time armchair lawyering than actually creating value these days -- it's a sad state of affairs.
Indeed. I looked into what it takes to run an a business that transfers money between USD and BTC in California per the FinCen guidance, and it's very onerous on a new business; in fact there are only about 25 "money transmission" companies registered in California. Then multiply that by 49x, even though the laws/regulations are likely harmonized you have to go through the same approval process and that takes many man hours. It's sad that we're so overburdened with regulations because the federal gov't is incapable of doing it's job and is essentially throwing the costs of enforcement onto private business. It's like a hidden tax. |
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I bought 3 of these and after 1 month 2 are still working. Nothing but issues with these cards... the longest I had all three running at the same time was about 4 days and then couldn't get more than 2 at the same time, lots of BSOD, driver restarts... ugh Now exactly sure what happened to this card, everything seemed to be fine, and then at some point I walked to the room and noticed that the screen was frozen. I looked at my p2pool server and noticed that my hashrate was at 50%. When I restarted the fans on the card started spinning but it wasn't posting at all, and eventually the bios switched over to the internal graphics card. I've tried inserting it into a few different slots over the last couple days with no results. Sent in a request to Amazon / Tigerdirect and hopefully they will take it back, but it's been about 40 days since my order shipped so... Sometimes it's better not to go bottom of the barrel cheap  |
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This is not to be taken as legal advice, or any kind of advice for that matter, but any bitcoin exchange will have to register as a money transmitter federally and with every state whose residents it conducts business with. The fees associated with such registration are incredible. To think otherwise seems naive. Look at what just happened to MtGox. It doesn't necessarily have to do with bitcoin, but the fact that you are holding customer funds for later delivery. This is textbook money transmission.
Yup, look at California. 5K fee just for the chance to register. there are only about 25 companies registered for the entire state (google, square, western union). You need to have an employee that is familiar with the regulations. You need to submit a business plan. You need to spend probably 25K per state minimum for the first year, and then have at least 1 lawyer on staff, retainer with firms in all states, and train enough compliance people. Better to go to Panama or Malta or whatever... |
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all they need in their TOS is something like this:
Disclaimer: We are not licensed in any country but XYZ. If your country is not XYZ and it requires a license to do X, Y or Z, then we cannot offer you this service.
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So the way Coinlab operates is perfectly acceptable I guess? Just buying a large amount of bitcoins from a variety of sources, then sell to customers at whatever price they deem to be profitable?
That isn't a MSB, it is a company that sells something that falls in the default category of goods/services. To be specific, what they sell is the service of digitally signing chunks of data that have some mutually-agreed-upon properties. If they are providing transmission or store of value, they need to register. At least that is the case in California. FinCen gives you 180 days... |
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For example: Completed applications for new money transmitter license, along with the non-refundable fee of five thousand dollars ($5,000), should be addressed to Mr. Patrick Carroll, Strategic Support Manager, Department of Financial Institutions, 45 Fremont Street, #1700 San Francisco, CA 94105-2219. Contact him at (415) 263-8559 or by email at patrick.carroll@dfi.ca.govwww.dfi.ca.gov/Licensees/money_transmitter/default.html5 Gs is no joke... |
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If you are running an exchange where you are taking or sending US dollars, you need to have an MSB permit from each state of the USA where you do business.
Now isnt that jolly... have fun filling out those forms, you might as well be applying for the FBI or getting a rectal exam.
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do u recall what the resolution was? i have the same issue on 6950s
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I am offering a 5 litecoin donation or equal in bitcoin to anyone who can help me figure this out
I am trying to set up a few mining rigs with 4x6870s (sapphire) and 2x 6860x2 (Visiontek) and am having some issues. On the first computer I set up I was having trouble getting windows to recognize the cards but that I can figure out as its probably something simple, but the main problem is
On the other computer once I tell GuiMiner- Scrypt Alpha to start mining with more than 4 cards it tells me I have an error and it needs to close. It doesn't close and keeps mining with the 4 cards that have started but will be in an internal deadlock saying its starting or connecting but never will. I dont know why the first computer would allow me to miner with more than 4 gpus but has other errors and this one wont let me mine with more than four
I have have 4 rigs all being built and have alot riding on this.
Specs: Mobo Gigabyte UD5 990FXx3, UD7x1
CPU- AMD 145 singlex2, Dual core, and X640
GPU - 16x sapphire 6870, 8x visiontek 6870x2
PSU - Coolmax 1600w, 3xkingin 1000w, OCZ 1250w, Coolermaster 800w, Diablotek 600w
RAM- 16GB Corsair Dominator 1866, 3x8gb Gskill 1600
Windows 7
I am a previous bitcoin miner and have had many systems with more than 4 gpus. And the big thing is on one computer I was mining with more than 4 gpus for a while but now on my other ones I am having issues.
Error code
Probelem Event Name: APPCRASH
Application name: CGMINER/exe
Version 0.0.0.0
fault module name aticaldd.dll
fault module version 6.14.10.1589
exception code c0000005
Exception Offset 0017e048
I have the same issue, except I get this even with 2 cards |
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guys just transfer your btc to coinbase and it's in your US account in 3 days... i just did it last week, took like 3 minutes...
granted they have a 50 btc daily limit and 10 for unverified... but i' sure you high rollers have other methods anyway...
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