Erdogan
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Activity: 1512
Merit: 1005
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July 17, 2014, 08:37:54 PM |
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you want to know how they will regulate Bitcoin in NY state ? http://www.reddit.com/r/Bitcoin/comments/2aycxs/hi_this_is_ben_lawsky_at_nydfs_here_are_the/cizyqyzEntities are considered dealing in virtual currencies if:They transfer Bitcoins on behalf of one person. This includes Bitcoin tipping (/u/changetip), mixers, Blockchain.info Send Shared, CoinJoin, Dark Wallet (200.2n1) They hold or have control over Bitcoins for their users. This includes Mining pools, Coinbase, Circle, Greenaddress.it, all exchanges. (200.2n2) They buy or sell Bitcoins as a business activity. This includes Local Bitcoins sellers, #bitcoin-otc. FinCEN statements includes selling physical coinage (including casascius coins) also regulated. (200.2n3) They create a virtual currency, even if it is decentralized. This includes creating altcoins. In fact, Satoshi would have commited a crime creating Bitcoin without registration. (200.2n5)They trade any virtual currency, even for another virtual currency. This includes alt coin exchanges. Mintpal, Cryptsy, BTER, etc (200.2n4) .. to any resident in New York. Web services, even those incorporated overseas, must either comply or block access for NY users. (200.2n) Entities 'dealing in virtual currency' must:Perform AML and collect identities, including verification of government issued Photo ID and proof of address, and retain these information for 10 years. (200.15a) Retain all transaction logs for 10 years, including real name & physical addresses of ALL parties of a transaction - yes, including whoever you are sending to. (200.12a1) Report all transactions over the USD value of $3000, and file Suspicious Activity Reports. (200.15g4) Maintain collateral in the form of USD, including collateral for Bitcoin balances. The % as collateral is unspecified. Retained earnings and profits of in invested in US dollars. They may not keep any profit in Bitcoin. (200.8b) Forfeit Bitcoins that are inactive for over 5 years to the State of New York - (200.12c)Not obfuscate any transactions - Bitcoin mixing would be illegal. (200.15f) Interesting: now these people who creates altcoin would be committing a crime, even satoshi committed a crime following this logic. and NY wants to take your coins, so you wont be able to use your coins as a saving method ? yea so bad news for hodlers. this is the whole document if you want to read it http://www.dfs.ny.gov/about/press2014/pr1407171-vc.pdfEasy solution? Incorporate outside of the US and give them the middle finger. Americans always think their laws apply outside of the US. the problem is that most likely the other states will follow the same path, Businesses in EU will have a big problem serving US customers, at the end they will have to ban US customers if the hassle is too much for them. Why do they have to ban them? because the US says so ... bitch please. Non American who are not in America do not have to follow US laws. You can make laws to attack the US customers of these businesses though. Good luck you have no clue about how the US government operate outside their borders, a sad fact but if US had a different tolerant policy toward others the world would be a better place and not as we see today. They can do things, because they have a bowling ball grip on everybody through the dollar and international payments. But, they have to hurry to exploit it, and the more they exploit it, the bigger risk of alternatives cropping up. The heat is on.
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Even if you use Bitcoin through Tor, the way transactions are handled by the network makes anonymity difficult to achieve. Do not expect your transactions to be anonymous unless you really know what you're doing.
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Carra23
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Activity: 980
Merit: 1000
Need a campaign manager? PM me
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July 17, 2014, 08:40:00 PM |
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Need some crisis somewhere ASAP. Bitcoin has been way too stable for my taste. If I wanted a boring life I would have gone for gold Come on BTC, get off your ass.
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HarmonLi
Sr. Member
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Activity: 350
Merit: 250
Honest 80s business!
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July 17, 2014, 08:41:48 PM |
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Need some crisis somewhere ASAP. Bitcoin has been way too stable for my taste. If I wanted a boring life I would have gone for gold Come on BTC, get off your ass. hey that was a nice little pump this morning. slow grind down, quick pump up.... hopefully that little down trend is over.
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Ultros
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July 17, 2014, 08:42:38 PM |
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Regulation can't stop the disruptive power of Bitcoin. Did regulation stopped people from downloading movies and music despite the fact it bothered a lot of industries? They tried, spend a lot of money, failed for years and meanwhile the market found its way to adapt, now music/movies are must cheaper than before and can still be found for "free" for little effort/risk. It will be the same with BTC. They can try to ban it, tax it, complicate it, but they can't stop the technology, much like candle-sellers failed to stop electricity or diligence-guilds failed to stop the telegraph.
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Carra23
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Activity: 980
Merit: 1000
Need a campaign manager? PM me
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July 17, 2014, 08:44:02 PM |
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Need some crisis somewhere ASAP. Bitcoin has been way too stable for my taste. If I wanted a boring life I would have gone for gold Come on BTC, get off your ass. hey that was a nice little pump this morning. slow grind down, quick pump up.... hopefully that little down trend is over. You are easily satisfied. I want a jump to 800, then a crash to 300 in 3 days Late last year and early this year's volatility was insane. I was gambling like a drunk and was still making money.
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ChartBuddy
Legendary
Online
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 17, 2014, 09:00:16 PM |
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JorgeStolfi
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July 17, 2014, 09:18:39 PM |
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When Risto asked us to make predictions for (the rest of) 2014, back in 2014-04-14, I provided two sets, the "bear-masked" one that was just re-posted, and the following "bull-masked" set: Since it is free, why not: LET'S GIVE PROBABILITIES TO THE FOLLOWING EVENTS a) In 2014, price will visit below 100 = 10% b) In 2014, price will visit below 200 = 20% c) In 2014, price will visit below 300 = 30% d) In 2014, price will visit below 400 = 40% e) In 2014, price will visit above 500 = 40% f) In 2014, price will visit above 750 = 10% g) In 2014, price will visit above 1000 = 3% h) In 2014, price will visit above 1250 = 1% i) In 2014, price will visit above 2000 = 0.1% j) In 2014, price will visit above 3000 = 0.01% k) In 2014, price will visit above 4000 = 0.001% l) In 2014, price will visit above 5000 = 0.0001% m) In 2014, price will visit above 7000 = 0.00001% n) In 2014, price will visit above 10000 = 0.000001% /LET'S GIVE PROBABILITIES TO THE FOLLOWING EVENTS These numbers were picked while wearing by bull mask. Admittedly it makes no mathematical sense to have two sets of probabilities for the same events (that could be a good definition of schizophrenia). But, anyway: On that day, Apr/14, the price at Bitstamp ranged from 408$ to 475$. After that day, the the price has ranged from 420$ (May/06) to 683$ (Jun/01). So, one event for which my bullish half gave 40% probability of happening has happened ("price will go above 500$"). All the other events, for which I gave probability 40% or less, have still to happen.So, can we wait until the end of the year before deciding who was too pessimist and who was too optimist?
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billyscuz
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July 17, 2014, 09:27:23 PM |
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Bull run incoming this sounds about right. come on bulls, charge!!!!
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Sandia
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July 17, 2014, 09:35:44 PM |
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Dear Bitcoin,
You implied a bubble was coming in July. I have my spreadsheet of all buying and selling during the runup completed. I have my peak and trough strategy thought out, calculated and in the spreadsheet. I know my complete strategy (except how I will run a business and sleep for 1 month).
I have even researched my tax minimization strategies for when you make me rich.
Could you get off the couch and bubble, please?
Thanks, your friend, Sandia
P.S. - XOXOXO
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macsga
Legendary
Offline
Activity: 1484
Merit: 1002
Strange, yet attractive.
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July 17, 2014, 09:44:46 PM |
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Dear Bitcoin,
You implied a bubble was coming in July. I have my spreadsheet of all buying and selling during the runup completed. I have my peak and trough strategy thought out, calculated and in the spreadsheet. I know my complete strategy (except how I will run a business and sleep for 1 month).
I have even researched my tax minimization strategies for when you make me rich.
Could you get off the couch and bubble, please?
Thanks, your friend, Sandia
P.S. - XOXOXO
I wonder... How would one XOXOXO Bitcoin?
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wachtwoord
Legendary
Offline
Activity: 2324
Merit: 1125
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July 17, 2014, 09:49:34 PM |
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Dear Bitcoin,
You implied a bubble was coming in July. I have my spreadsheet of all buying and selling during the runup completed. I have my peak and trough strategy thought out, calculated and in the spreadsheet. I know my complete strategy (except how I will run a business and sleep for 1 month).
I have even researched my tax minimization strategies for when you make me rich.
Could you get off the couch and bubble, please?
Thanks, your friend, Sandia
P.S. - XOXOXO
I wonder, if Bitcoin doesn't rally soon can we sue it for implying a rally and not delivering?
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macsga
Legendary
Offline
Activity: 1484
Merit: 1002
Strange, yet attractive.
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July 17, 2014, 09:53:01 PM |
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Incoming...
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JorgeStolfi
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July 17, 2014, 09:56:28 PM |
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May be of interest to someone: This Chinese article seems to be about a Chinese project to build an open-source software base for crypto exchanges: http://www.lupaworld.com/article-240781-1.htmlThe project is supposed to be on Github but unfortunately the the article does not give an URL. Google transates the project name as "brave open source" which is probably wrong.
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Raystonn
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July 17, 2014, 09:58:25 PM |
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Obsession with the Chinese...
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ChartBuddy
Legendary
Online
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 17, 2014, 10:00:19 PM |
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anujjain
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July 17, 2014, 10:39:02 PM |
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It will continue atleast this July after that may be some interesting move will occur.
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ChartBuddy
Legendary
Online
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 17, 2014, 11:00:16 PM |
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ChartBuddy
Legendary
Online
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 18, 2014, 12:00:14 AM |
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hyphymikey
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July 18, 2014, 12:51:23 AM |
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Inb4 chart buddy posts 3 in a row
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