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Author Topic: Bitcoin-Central, first exchange licensed to operate with a bank. This is HUGE  (Read 176758 times)
thoughtfan
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December 10, 2012, 09:23:53 PM
 #361

Crina Belododia's answer to that post is AMAZING. WOW!

Damned,  she makes some good points indeed.

« Asking for the State to bless Bitcoin businesses in an attempt to induce its birth is not the way to grow adoption. Anyone who is impatient for it to grow needs to be learn patience and write more software, not run to the State to cripple the baby before it is born ».

I'm confused now.  You guys might actually be right.
What amused me about that particular comment response, and I think it at least suggests why so many an-caps are getting so het up about all this is I think many of them think they are living in an Ayn Rand novel.  They forget for real people making real decisions in the real world a decision to involve an organisiation that is subject to governmental regulation does not suddenly turn them into a sleazy Rand character who will invariably turn into a monster.  As original as she was, and I do have a lot of respect for what she brought to the table, fortunately real people and the real world, are more complex, more creative, more beautiful and much less cynical than Rand's imagination.  And despite the haughty moral certainty with which Crina Belododia's lengthy response was written a friend should tap him/her on the shoulder and remind them they're not actually John Galt!


If you have a machine on 24/7 why not have a full Bitcoin client running on it to support the network?
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thoughtfan
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December 10, 2012, 09:40:03 PM
 #362


...no one (at least at Paymium) ever said anything about regulating Bitcoin. I'll go in a little more depth later about our interactions with regulatory bodies, but basically we neither asked permission, nor sought regulation for Bitcoin.
I wouldn't pay too much attention to this if I were you.  Thinking about what I just posted about some of the an-caps living in an Ayn Rand novel it really explains something I've been puzzling about.  Crina Belododia is not the first to make accusations based on ridiculous assumptions regarding the motives and long-term plans of you, Bitpay and others.  In their simplistic world-view if you have made a decision with which they can see a parallel with one of Ayn Rand's characters, you are that character in their eyes and so they believe their conclusions as to how you will behave in future, stifling all competition, getting into bed with regulators to buy you favours at everybody else's expense etc. are actually justified.

The irony is that many think this way of seeing the world and of judging people is actually objective!!

The knee-jerk reaction that Bitcoin-Central, by involving a partner that is subject to regulation is necessarily commiting some kind of philosophical bad; then jumping through mental hoops to find a way of rationalising the conclusion they'd already come to - including totally unfounded accusations - is not what I'd call being objective.

If you have a machine on 24/7 why not have a full Bitcoin client running on it to support the network?
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December 10, 2012, 09:40:57 PM
 #363

We've written a blog piece on this fascinating and controversial subject of bankhood...

This is generally a response to the controversy around Paymium's announcement, and more specifically Matonis' Forbes piece yesterday.

http://blog.bitinstant.com/blog/2012/12/10/the-controversy-of-bankhood.html

Integration and easy to use is what people want from Bitcoin and this what makes it easier to become mainstream, and certainly this is where it's all going. But it also demotivates people from creating and using tools to circumvent current laws and the whole system becomes dependent on current regulations. Your blog past has valid arguments and as usual the truth is somewhere in between those two view points, but don't pretend like you know exactly what is the correct thing here in a long term.
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December 10, 2012, 09:54:25 PM
 #364

Do you understand how bitcoin works? Bitcoin is already in a bank, and you owe the private key to your funds. That's it. Your bitcoins are secured in the blockchain.

If you want someone to keep a record of your private password will it make it more secure?
Maybe not everyone wants to be their own bank...

Pussy
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December 10, 2012, 10:02:05 PM
 #365

Pussy
No thank you, I had my share for today.

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December 10, 2012, 10:20:04 PM
 #366


So TCP/IP needed to get approval from the "regulators" before it was widely adopted?

Then the bitcoin protocol may not be all it is cracked up to be .... if  Erik Vorhees is correct that bitcoin needs the crutch of state approval in order to get widely adopted, then I would say it is deficient as a technology and not fit for purpose .... bring on bitcoin2.0. (Holy Trinity should be nimble for the crypto-currency 2G will be life threatening for them.)


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December 10, 2012, 10:26:26 PM
 #367


So TCP/IP needed to get approval from the "regulators" before it was widely adopted?

Then the bitcoin protocol may not be all it is cracked up to be .... if  Erik Vorhees is correct that bitcoin needs the crutch of state approval in order to get widely adopted, then I would say it is deficient as a technology and not fit for purpose .... bring on bitcoin2.0. (Holy Trinity should be nimble for the crypto-currency 2G will be life threatening for them.)

It's not about bitcoin being regulated, it's about bitcoin exchanges.
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December 10, 2012, 10:27:28 PM
 #368


So TCP/IP needed to get approval from the "regulators" before it was widely adopted?

Then the bitcoin protocol may not be all it is cracked up to be .... if  Erik Vorhees is correct that bitcoin needs the crutch of state approval in order to get widely adopted, then I would say it is deficient as a technology and not fit for purpose .... bring on bitcoin2.0. (Holy Trinity should be nimble for the crypto-currency 2G will be life threatening for them.)
Oh god, please stop with this regulating Bitcoin nonsense.

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December 10, 2012, 10:52:55 PM
 #369


So TCP/IP needed to get approval from the "regulators" before it was widely adopted?

Then the bitcoin protocol may not be all it is cracked up to be .... if  Erik Vorhees is correct that bitcoin needs the crutch of state approval in order to get widely adopted, then I would say it is deficient as a technology and not fit for purpose .... bring on bitcoin2.0. (Holy Trinity should be nimble for the crypto-currency 2G will be life threatening for them.)
Oh god, please stop with this regulating Bitcoin nonsense.

Yes, indeed we should just stop with this nonsense of getting the bitcoin technology regulated ....

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December 10, 2012, 10:53:16 PM
 #370


So TCP/IP needed to get approval from the "regulators" before it was widely adopted?

Then the bitcoin protocol may not be all it is cracked up to be .... if  Erik Vorhees is correct that bitcoin needs the crutch of state approval in order to get widely adopted, then I would say it is deficient as a technology and not fit for purpose .... bring on bitcoin2.0. (Holy Trinity should be nimble for the crypto-currency 2G will be life threatening for them.)
Oh god, please stop with this regulating Bitcoin nonsense.

Yes, indeed we should just stop with this nonsense of getting the bitcoin technology regulated ....
No one here is asking for that.
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December 10, 2012, 10:53:39 PM
 #371

Congrats!

But before I verify my account, I would like to know: what is an assymmetric cypher?

The documents you are submitting are used only to verify your account. Once your account is verified your documents are archived after being properly encrypted using an assymmetric cipher

If this means you're going to brand my ID on a cows ass I'm all for it!

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
zebedee
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December 10, 2012, 10:55:39 PM
 #372

Quote
We honestly didn't think there would be this kind of massive interest from Americans and other nationalities all around the world. We honestly didn't think there would be this kind of massive interest from Americans and other nationalities all around the world.

Welcome to the new age of fiscal facism ... US citizens will flock to anything that is somehow outside their fiscal prison of a banking system where you don't have to submit to the psychological equivalent of a full cavity search just to manage and transact with your own money.

You come across as being a little naive to the true nature of the battle going on out there ... good luck.
+1
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December 10, 2012, 11:28:42 PM
 #373

Congrats!

But before I verify my account, I would like to know: what is an assymmetric cypher?

The documents you are submitting are used only to verify your account. Once your account is verified your documents are archived after being properly encrypted using an assymmetric cipher

If this means you're going to brand my ID on a cows ass I'm all for it!

:3

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December 10, 2012, 11:40:17 PM
 #374

posted on my forum

http://www.maxishine.com.au/forums/viewtopic.php?f=38&t=29676

also it was on Legit Reviews

http://www.legitreviews.com/news/14665/

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December 10, 2012, 11:42:19 PM
 #375

Quote
We honestly didn't think there would be this kind of massive interest from Americans and other nationalities all around the world. We honestly didn't think there would be this kind of massive interest from Americans and other nationalities all around the world.

Welcome to the new age of fiscal facism ... US citizens will flock to anything that is somehow outside their fiscal prison of a banking system where you don't have to submit to the psychological equivalent of a full cavity search just to manage and transact with your own money.

You come across as being a little naive to the true nature of the battle going on out there ... good luck.
+1

Why do you think eurodollars even exist? (For the past 50 or so years).

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
marcus_of_augustus
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December 10, 2012, 11:55:48 PM
 #376


So TCP/IP needed to get approval from the "regulators" before it was widely adopted?

Then the bitcoin protocol may not be all it is cracked up to be .... if  Erik Vorhees is correct that bitcoin needs the crutch of state approval in order to get widely adopted, then I would say it is deficient as a technology and not fit for purpose .... bring on bitcoin2.0. (Holy Trinity should be nimble for the crypto-currency 2G will be life threatening for them.)
Oh god, please stop with this regulating Bitcoin nonsense.

Yes, indeed we should just stop with this nonsense of getting the bitcoin technology regulated ....
No one here is asking for that.

Maybe not overtly or knowingly, but they are undoubtedly paving the way for it.

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December 10, 2012, 11:58:36 PM
 #377

No one here is asking for that.

Maybe not overtly or knowingly, but they are undoubtedly paving the way for it.
Just as much as Satoshi paved the way for Bitcoin regulation by inventing Bitcoin.

marcus_of_augustus
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December 11, 2012, 12:16:38 AM
 #378

No one here is asking for that.

Maybe not overtly or knowingly, but they are undoubtedly paving the way for it.
Just as much as Satoshi paved the way for Bitcoin regulation by inventing Bitcoin.

As far as I know, Satoshi was not in the habit of asking permission from "authorities" before writing software .... you, on the other hand, appear to be.

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December 11, 2012, 12:35:54 AM
 #379

No one here is asking for that.

Maybe not overtly or knowingly, but they are undoubtedly paving the way for it.
Just as much as Satoshi paved the way for Bitcoin regulation by inventing Bitcoin.

As far as I know, Satoshi was not in the habit of asking permission from "authorities" before writing software .... you, on the other hand, appear to be.
+11111111111111111111111111111111

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December 11, 2012, 01:06:53 AM
 #380

No one here is asking for that.

Maybe not overtly or knowingly, but they are undoubtedly paving the way for it.
Just as much as Satoshi paved the way for Bitcoin regulation by inventing Bitcoin.

Do you realize that your detractors have been achieving their core goals, right?  No matter what you do, it will not directly affect them (or me), yet each moment you spend responding to them delays your progress.  They are winning, whether or not they are correct.  While I, personally, don't agree that one bitcoin based business making agreements with establishment institutions in Europe has any great effect upon Bitcoin as a whole; I also don't view such a developement as automaticly a positive one.  Furthermore, I don't believe that you will actually be permitted to succeed.  If such a development actually is a net positive for Bitcoin, you will be undermined to your final bankruptcy at least.  If such a development survives six months, I will take that to mean that it's a net negative for Bitcoin, and avoid you like the plague.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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