And now they're saying a hard fork could entail legal repercussions.

[commandrix]

According to this CryptoCoinNews article, anyhow. This is something that the few remaining Bitcoin XT supporters (if any) and Bitcoin Classic supporters will need to think about.

[unamis76]

What a good laugh! This article is hilarious... Legal what?!? Seriously...

They would need to register with the Financial Crimes Enforcement Network (FinCEN) once they are being transacted like a new convertible virtual currency

Why? Is Bitcoin registered on FinCEN? Seriously...

if they do not in a timely manner report their forked currency as a Money Service Business (MSB) to the FinCEN

MSB's are exchanges. Bitcoin is a currency... It has no laws beyond the laws defined on the code that runs the system.

Due to Anti Money-Laundering rules, Bitcoin Classic and Bitcoin XT would likely need to be able to identify their users.

Once again, if this has to be enforced in case of a Bitcoin fork, why wasn't this enforced straght away by authorities since the genesis block?

I could go on... This is seriously one of the wierdest articles I've ever seen. Legal problems are what exchanges face when they "lose track" of customers funds. People show know better about these things already. Attemps to control or regulate Bitcoin at the core level will fail.

[DMB]

What a good laugh! This article is hilarious... Legal what?!? Seriously...

They would need to register with the Financial Crimes Enforcement Network (FinCEN) once they are being transacted like a new convertible virtual currency

Why? Is Bitcoin registered on FinCEN? Seriously...

if they do not in a timely manner report their forked currency as a Money Service Business (MSB) to the FinCEN

MSB's are exchanges. Bitcoin is a currency... It has no laws beyond the laws defined on the code that runs the system.

Due to Anti Money-Laundering rules, Bitcoin Classic and Bitcoin XT would likely need to be able to identify their users.

Once again, if this has to be enforced in case of a Bitcoin fork, why wasn't this enforced straght away by authorities since the genesis block?

I could go on... This is seriously one of the wierdest articles I've ever seen. Legal problems are what exchanges face when they "lose track" of customers funds. People show know better about these things already. Attemps to control or regulate Bitcoin at the core level will fail.

that is so stupid, sometimes I wonder where people get off.....

[pawel7777]

According to this CryptoCoinNews article, anyhow. This is something that the few remaining Bitcoin XT supporters (if any) and Bitcoin Classic supporters will need to think about.

That's bullshit. Mr Friedberg is just trying to get his 15 minutes of fame. And no, if this was true, it's not just problem of XT/Classic but Bitcoin and Cryptos in general. Core devs too will have to fork sooner or later. Same goes for any open-source applications (started unanimously).

[European Central Bank]

So the guys in charge of the financial system designed to bypass overbearing authorities, try to do overbearing authority stuff. Sweet move.

[BellaBitBit]

It is not possible.  Bitcoin is a decentralized situation and it is it not possible for a lawsuit.  Who do you sue?

[lumeire]

It is not possible.  Bitcoin is a decentralized situation and it is it not possible for a lawsuit.  Who do you sue?

The core devs? Maybe the foundation? What a joke, these guys never really understood how bitcoin works do they.

[Gleb Gamow]

According to this CryptoCoinNews article, anyhow. This is something that the few remaining Bitcoin XT supporters (if any) and Bitcoin Classic supporters will need to think about.

That's bullshit. Mr Friedberg is just trying to get his 15 minutes of fame. And no, if this was true, it's not just problem of XT/Classic but Bitcoin and Cryptos in general. Core devs too will have to fork sooner or later. Same goes for any open-source applications (started unanimously).

Not just Daniel S. Friedberg (Dan; Danny), but also Ryan J. Straus: https://bitcointalk.org/index.php?topic=1362358.msg13877909#msg13877909

[Gleb Gamow]

It is not possible.  Bitcoin is a decentralized situation and it is it not possible for a lawsuit.  Who do you sue?

The core devs? Maybe the foundation? What a joke, these guys never really understood how bitcoin works do they.

Don't know how they missed it since Straus and Friedberg are buds with Patrick Murck and Jon Matonis.

I'd say they're somethin' goin' on behind the scenes that smells like Limburger.

Straus and Friendberg came onto the Bitcoin scene just prior to the infamous run-up in 2013, the same time, or just prior to when Patrick and Jon joined to The Bitcoin Foundation goin' through all its moneys while under their watch.

[iCEBREAKER]

They would need to register with the Financial Crimes Enforcement Network (FinCEN) once they are being transacted like a new convertible virtual currency

Why? Is Bitcoin registered on FinCEN? Seriously...

Your questions were already answered in the article.

If you care to read it again (this time with comprehension), you will find that Bitcoin, being created by the anonymous Satoshi, has no principles for FinCEN to have jurisdiction over.

On the other hand, Classic is being created by identifiable individuals, many of whom live in the US and other NATO/FACTA countries.

Please learn to read more effectively, and stop misleading people with such trivially debunked fake 'gotcha' questions.

The essay was written by an actual lawyer.  You aren't a lawyer, you are just some stupid-as-shit Gavinista that isn't even especially literate.

The only reason you're straining at the article's well made points is that it's not pro-Classic.

But the essay is factually grounded, and pretending it's all just a big lie won't help Team Classic when the TLAs come knocking.

[BlindMayorBitcorn]

It is not possible.  Bitcoin is a decentralized situation and it is it not possible for a lawsuit.  Who do you sue?

The core devs? Maybe the foundation? What a joke, these guys never really understood how bitcoin works do they.

Don't know how they missed it since Straus and Friedberg are buds with Patrick Murck and Jon Matonis.

I'd say they're somethin' goin' on behind the scenes that smells like Limburger.

Straus and Friendberg came onto the Bitcoin scene just prior to the infamous run-up in 2013, the same time, or just prior to when Patrick and Jon joined to The Bitcoin Foundation goin' through all its moneys while under their watch.

Gleb's on the job.

[Gleb Gamow]

It is not possible.  Bitcoin is a decentralized situation and it is it not possible for a lawsuit.  Who do you sue?

The core devs? Maybe the foundation? What a joke, these guys never really understood how bitcoin works do they.

Don't know how they missed it since Straus and Friedberg are buds with Patrick Murck and Jon Matonis.

I'd say they're somethin' goin' on behind the scenes that smells like Limburger.

Straus and Friendberg came onto the Bitcoin scene just prior to the infamous run-up in 2013, the same time, or just prior to when Patrick and Jon joined to The Bitcoin Foundation goin' through all its moneys while under their watch.

Gleb's on the job.

Hey, I'm just here to spread FUD till they pay me my standard extortion fee, of which Leroy Fodor has yet to read the memo. HAHAHA

[countryfree]

Legal repercussions? LOL. To the taxman or even the FBI, Bitcoin Classic, Core or XT are exactly the same thing. Why should they bother make a difference? You can be a butcher, a salesman or a plumber, and the taxman doesn't care, you'll get the same treatment.

[crazywack]

Ooh man Gleb and iCEBREAKER in the same thread!

*popcorn time*

[franky1]

Your questions were already answered in the article.

If you care to read it again (this time with comprehension), you will find that Bitcoin, being created by the anonymous Satoshi, has no principles for FinCEN to have jurisdiction over.

On the other hand, Classic is being created by identifiable individuals, many of whom live in the US and other NATO/FACTA countries.

Please learn to read more effectively, and stop misleading people with such trivially debunked fake 'gotcha' questions.

The essay was written by an actual lawyer.  You aren't a lawyer, you are just some stupid-as-shit Gavinista that isn't even especially literate.

The only reason you're straining at the article's well made points is that it's not pro-Classic.

But the essay is factually grounded, and pretending it's all just a big lie won't help Team Classic when the TLAs come knocking.

lol not grounded..

otherwise the fork of 2013 would make blockstream liable .. using your logic..
oh and the segwit code changes.. will make blockstream liable .. using your logic..

so much laughs today

lastly.. 2mb proposal is not limited to classic.. there are 12 different implementations that all can input the rule change and the miner flags..
thats right miners running core can continue running core and just change the 1 byte flag in their data to show their intentions.
and then change the max block size if the target is reached.

its not code limited to classic..

thats right core can input the changes too.. its not a classic vs core.. its a people vs adam back. where adam back will continue to refuse to stay with the people even when the minority moves against him.
adam back will be the one sticking his head in the sand playing with clams and having to get fincen registered (if the article was legally correct, which its not)

but for laughs lets use icebreaker logic
Charles Lee (litecoin) needs to go to jail for not registering their coin invention?
vitalik buterin (ethereum) needs to go to jail for not registering their coin invention?
wait for it, here is the punchline..

Gmaxwell and Adamback(liquid & sidechains) needs to go to jail for not registering their coin invention?

[Alley]

So what if core does the fork?  All devs go to jail?  Give me a break.

[Meuh6879]

legal ?

Wallstreet is legal even if they have forced nation to print money.






Bitcoin is the model of transparent AND SO LEGAL think.
It don't lie.

[jonald_fyookball]

Your questions were already answered in the article.

If you care to read it again (this time with comprehension), you will find that Bitcoin, being created by the anonymous Satoshi, has no principles for FinCEN to have jurisdiction over.

On the other hand, Classic is being created by identifiable individuals, many of whom live in the US and other NATO/FACTA countries.

Please learn to read more effectively, and stop misleading people with such trivially debunked fake 'gotcha' questions.

The essay was written by an actual lawyer.  You aren't a lawyer, you are just some stupid-as-shit Gavinista that isn't even especially literate.

The only reason you're straining at the article's well made points is that it's not pro-Classic.

But the essay is factually grounded, and pretending it's all just a big lie won't help Team Classic when the TLAs come knocking.

lol not grounded..

otherwise the fork of 2013 would make blockstream liable .. using your logic..
oh and the segwit code changes.. will make blockstream liable .. using your logic..

so much laughs today

lastly.. 2mb proposal is not limited to classic.. there are 12 different implementations that all can input the rule change and the miner flags..
thats right miners running core can continue running core and just change the 1 byte flag in their data to show their intentions.
and then change the max block size if the target is reached.

its not code limited to classic..

thats right core can input the changes too.. its not a classic vs core.. its a people vs adam back. where adam back will continue to refuse to stay with the people even when the minority moves against him.
adam back will be the one sticking his head in the sand playing with clams and having to get fincen registered (if the article was legally correct, which its not)

but for laughs lets use icebreaker logic
Charles Lee (litecoin) needs to go to jail for not registering their coin invention?
vitalik buterin (ethereum) needs to go to jail for not registering their coin invention?
wait for it, here is the punchline..

Gmaxwell and Adamback(liquid & sidechains) needs to go to jail for not registering their coin invention?

Icebreaker has been on my ignore for a while, but I happen to see this.

"Written by an actual lawyer"...oooooh....lmao.

I guess Icebreaker hasn't figured out yet that lawyers' jobs
are to argue a certain position.  I can find an equally qualified
lawyer to argue just the opposite of what it says in the article.

Derp.

[BlindMayorBitcorn]

12 implementations?! I have 2 thought provoking threads about the potential of smart contracts collecting dust. How many more r3kt threads do we have to suffer through?

Challenge: build a smart contract C to release the drones d at time n if x number of r3kt threads have been created.

[franky1]

icebreaker will be sad when Riccardo Spagni (Monero) has to register for fincen and then icebreaker will need to pay licence fee's for his monero..

.. oh what the article is fud, .. icebreaker will be relieved