well this is a bad news

[coaltin]

seen this while i opened lbtc site

[Lauda]

Yes, everyone is aware of the license. No, it is not that big of a deal unless you think that a lot of users are based in New York which I doubt. Besides, Americans have chosen their idiotic government. Now they have to deal with it.
Go to Switzerland and enjoy your life.

[coaltin]

Yes, everyone is aware of the license. No, it is not that big of a deal unless you think that a lot of users are based in New York which I doubt. Besides, Americans have chosen their idiotic government. Now they have to deal with it.
Go to Switzerland and enjoy your life.

U didn't understand the whole story.New york is the beginning,slowly the whole population will be penalized for using bitcoin.Consider a major economy;in lieu of bitcoin exchange moving out of the bitcoin game lessens its value.I would consider moving to the blockchain now and the related projects associated with blockchain technology.

[Jorge320]

Small hiccup on the way to bigger adoption.

"This too shall pass..."

[Amph]

Yes, everyone is aware of the license. No, it is not that big of a deal unless you think that a lot of users are based in New York which I doubt. Besides, Americans have chosen their idiotic government. Now they have to deal with it.
Go to Switzerland and enjoy your life.

U didn't understand the whole story.New york is the beginning,slowly the whole population will be penalized for using bitcoin.Consider a major economy;in lieu of bitcoin exchange moving out of the bitcoin game lessens its value.I would consider moving to the blockchain now and the related projects associated with blockchain technology.

not the whole population, this isn't true, because there are countries already, which are pro bitcoin, like canada and japan, you will not see, ever, a situation where every countries will be against bitcoin

thank god we haven't a single government that is controlling the entire world, at least seen from this point, the world is decentralized enough...

[ajareselde]

Is there something stopping users from just clicking on the "i don't live in NY" button ?
There's no way for them to track user activity if they use VPN also afaik. So even tho this is not good news, it's not that bad either, it just
means that bitcoin has some stronger regulation, and that only those really serious about their bussines will aquire the licence.

cheers

[Harry Hood]

Yes, everyone is aware of the license. No, it is not that big of a deal unless you think that a lot of users are based in New York which I doubt. Besides, Americans have chosen their idiotic government. Now they have to deal with it.
Go to Switzerland and enjoy your life.

It's not a big deal because most (if not all) business in the US require a license to operate! This is not a knock to bitcoin, it's adding bitcoin businesses into the fold of existing legislation. Governments are in the business of levying revenue to pay for their services, one way they do this is through business license fees. That's all this is!

Is the company deciding it's not going to do business in NYS as a result? Sounds like a rash decision. Coinbase ran into the same issue in Idaho so they stopped offering services to Idaho, the difference in the Coinbase case is that it's...well...Idaho!

[malzahar]

seen this while i opened lbtc site

get another ip address for another state, problem solved.

all these transactions cant be followed unless localbitcoins actually hand them over to them to see who wasnt a resident and worst thing happens is your account is unable to buy bitcoin.

but most people would probably make another one.

[tommorisonwebdesign]

Looks like the powers at be in the USA are really afraid of the potential of Bitcoin so now they have no choice but to pull off stuff like this to keep their stranglehold on the world. It's a good thing I live up north.

[tonycamp]

well BTC its still to realted to terror insome minds soo they must not use it regular just it NY its still a good state

[Lauda]

U didn't understand the whole story.New york is the beginning,slowly the whole population will be penalized for using bitcoin.Consider a major economy;in lieu of bitcoin exchange moving out of the bitcoin game lessens its value.I would consider moving to the blockchain now and the related projects associated with blockchain technology.

No, that is not true. There are places that already have other regulations in regards to Bitcoin. I do not think that there will be similar regulations such as the one in NY.

not the whole population, this isn't true, because there are countries already, which are pro bitcoin, like canada and japan, you will not see, ever, a situation where every countries will be against bitcoin

thank god we haven't a single government that is controlling the entire world, at least seen from this point, the world is decentralized enough...

Well obviously the others aren't going to proceed with such a similar license as the one in New York. Obviously that is not going to work as the fees are too high for many businesses and many do not want to bother with the license as well.
Something much more simpler needs to be implemented.


Update: Several corrections.

[Mikestang]

It's bad news for residents of New York, that state is going to become a bitcoin vacuum because of it.  My twitter feed has news every day of another bitcoin business leaving the state, and it's really picked up since the Aug. 8 deadline.  Short sighted politicians with no understanding of crypto currency gotta ruin everything.

[unholycactus]

seen this while i opened lbtc site

get another ip address for another state, problem solved.

all these transactions cant be followed unless localbitcoins actually hand them over to them to see who wasnt a resident and worst thing happens is your account is unable to buy bitcoin.

but most people would probably make another one.

That won't work if you trade bitcoin physically or if you bank account is registered in NY.
IP address is definitely not how law enforcement will track your trades.

[jdebunt]

It sucks to live in New York state right now & be a Bitcoin enthusiast.

[Coins168]

aside from New York any other State that has strict rules about bitcoin?

[avatar_kiyoshi]

http://cointelegraph.com/news/115114/localbitcoins-stops-service-for-new-york-residents

This is bad news, although they leave NY, but they still standing still. actually not LocalBitcoin only  who leave NY because the regulation, BitQuick also.

[alva5763]

How big is bitcoin in US,especially compared to other countries?

[ajareselde]

http://cointelegraph.com/news/115114/localbitcoins-stops-service-for-new-york-residents

This is bad news, although they leave NY, but they still standing still. actually not LocalBitcoin only  who leave NY because the regulation, BitQuick also.

Yes, they are resuming their services like before, just moving their business from NY. So even tho it's bad in way, because NY is the center of the attention in the
business world, this shouldn't be over exaggerated, many services will follow, and all of this is because of the unrealistic bitlicence terms.

cheers

[coaltin]

Yes, everyone is aware of the license. No, it is not that big of a deal unless you think that a lot of users are based in New York which I doubt. Besides, Americans have chosen their idiotic government. Now they have to deal with it.
Go to Switzerland and enjoy your life.

U didn't understand the whole story.New york is the beginning,slowly the whole population will be penalized for using bitcoin.Consider a major economy;in lieu of bitcoin exchange moving out of the bitcoin game lessens its value.I would consider moving to the blockchain now and the related projects associated with blockchain technology.

not the whole population, this isn't true, because there are countries already, which are pro bitcoin, like canada and japan, you will not see, ever, a situation where every countries will be against bitcoin

thank god we haven't a single government that is controlling the entire world, at least seen from this point, the world is decentralized enough...

I meant the population of US

[jdebunt]

aside from New York any other State that has strict rules about bitcoin?

Not yet, but California is getting close to finalizing their regulatory measures.