Global Regulatory Conspiracy Will Likely Derail Bitcoin Train

[MicroGuy]

A few hours ago, the Wall Street journal reported that New York is preparing to unveil fresh Bitcoin licensing rules. This is exactly “NOT” what the doctor ordered.

The governments of the world aren’t going to let an anonymously created cryptocoin threaten sovereignty and their own national currencies. At the same time, elected officials don’t want to alienate their constituents. So rather than ban the digital currency outright, they present their regulation daggers as consumer protections. They’ve concocted the perfect plan to forever banish bitcoin to the fringes.



Video >>> https://www.youtube.com/watch?v=0rPMi8uQh4M

Let’s say you want to start a Bitcoin company in the U.S., chances are you’re going to need a Money Transmitter License, or rather 51 of them, because 47 states three territories and the District of Columbia each have their own permitting process for any business that handles money on behalf of its customers.

Instead of working to sort out this regulatory mess, government officials are piling on even more red tape. Benjamin Lawsky, New York State’s top financial regulator, has spent the last year hammering out the details of the so-called BitLicense, a new regulatory regime that will apply to virtual currency companies that serve customers in New York.

Rather than fighting a battle that can’t be won (aka competing with fiat), many alternative currencies have decided to focus on the commodity side of the equation. Cryptocurrencies can also be used as value stores and to provide better anonymity.

Goldcoin (GLD) for example is modeling its currency after physical gold and working to make it secure by continually improving its patented 51% attack defense. While Dash (DSH) has created the next generation anonymous peer-to-peer cryptocurrency. Both of these could actually thrive in the tightening regulatory environment.

The problem with Bitcoin is its like a runaway locomotive with a belly full of steam. The passengers are relaxing in the dining car but there’s no one at the controls of the train. Development is at a standstill, yet survival means change. So while the altcoins are busy innovating and adapting, the bitcoin train is headed towards its last stop – final destination – Fringe Station.

Full Story: http://altcoinpress.com/2015/05/global-regulatory-conspiracy-will-likely-derail-bitcoin-train/

[SpanishSoldier]

New York =/= Government of the world

Please wake up from your false American dream and meet the world.

And STOP promoting Alt coin scams.

[croTek4]

While I agree that all this regulatory bs is seeming worse and worse everyday, bitcoin development is definitely NOT at a stand still. While spreading fud youre also promoting your own coin. Classy.

[okae]

desentralized exchanges are comming soon, thats all we need and all of them will be really fu***

also there is some alt coins who already implemented it, feel free to check it, i dont want to spam the name after read your replys lol

[Beliathon]

A decentralized transparent tamper-proof public ledger does not need adjudication, it does not need censorship or license. It most certainly does not need parasitic middlemen such as lawyers, "regulators", banksters, nor any other soon to be useless rent-seeking fuckwits.

Like any decentralized network organism it will regard such resistance as damage and route around it effortlessly, like a river around stones. We've already seen this play out with Torrent technology. In the end even the most hostile poltiical environments will be overwhelmed by the sheer usefulness of this technology.

I've said it before and I'll say it again, Bitcoin's future was assured on January 3rd, 2009. This game was over before it began.

[TsonicTsunami]

FUD to push a nowhere coin by a micro moron who is a complete totalitarian while running his own forum. His aspiration is to swing naked from a wrecking ball when his gold DERP coin reaches $1:00.
This is exactly the type of person that should be shunned by the Bitcoin community, get lost.

[Amph]

While I agree that all this regulatory bs is seeming worse and worse everyday, bitcoin development is definitely NOT at a stand still. While spreading fud youre also promoting your own coin. Classy.

which is based on bitcoin, and this is funny beyond hell, also gold in general doesn't have a real future it's sitting there in a limbo, even worse than current bitcoin situation, don't know why they are still bothering with it

[MicroGuy]

Please note that the views expressed here are those of the authors and do not necessarily represent or reflect the views of AltcoinPress.

[Manic Street Preacher]

Regulations are going to happen whether we like them or not, but they're part of the deal if we want bitcoin to be recognized as a legit currency. They wont be a bad thing as long as they're not too restrictive or throttling.

[Buttknuckle]

New York =/= Government of the world

Please wake up from your false American dream and meet the world.

And STOP promoting Alt coin scams.

Hi, you have to understand that the average american is in a nightmare, not a dream.  We have no control over what the government does.  It is all run by big business.

I can however understand why others would hate americans, but please understand that the average (informed) american is right there with you.

[QuestionAuthority]

New York is tiny little 54k square miles of regulation nightmare. It's crazy that any company wants to do business in that fucked up state. They can have New York, we get the rest of the world.

[DooMAD]

By the time most of these regulations have been set in stone, they'll be dealing with outdated tech anyway.  They can regulate exchanges to the point where they're no longer viable if they want, but by the time they get there, we won't even need exchanges.  Anyone who already holds crypto of any kind is ahead of the curve and will likely always be a few steps ahead.  You can't beat what you can't catch.