Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[tomothy]

Do Gavin and the other devs have to comply with it, or pay for one?

I had a quick read through and found the bit quoted below. Do Gavin and the other devs control, or administer a Virtual Currency

http://www.dfs.ny.gov/legal/regulations/adoptions/dfsp200t.pdf

(q)  Virtual Currency Business Activity means the conduct of any one of the following types of activities
involving New York or a New York Resident:

<snip>
 
(5) controlling, administering, or issuing a Virtual Currency

The wording is a bit vague. In the absence of precedent/prior case law, it would be advisable to err on the side of caution

no
it only applies to financial institutions dealing with customer funds

"We have no interest in micromanaging minor app updates. We’re not Apple."

I think this clause would mainly relate to VC's like Ripple and the like. Or, something like a pre-mine. Regulators would have severe difficulty attributing this language to bitcoin per se or litecoin, dogecoin, and all the hundreds of others. The miners ultimately decide whether or not to incorporate any changes so regardless of what a developer suggests, there is still a consensus based network decision making which would need to apply. They might be able to force this language onto a controlling mining pool. However, as long as they are <50% one would argue that they are not, defacto, 'controlling.' I'd like to say this could result in greater decentralization to avoid being seen as controlling. However, it creates some uncertainty with how pools distribute found blocks. I.e., in the short interim between block payouts, would the pool have been considered to be administered a vc? I've always laughed about how they seek to regulate exchanges but not regulate pools themselves; it creates a certain legal gray area full of ambiguities and potential litigation.

Administering/issuing seems to target pre-sale operations, so theoretically, something like ethereum... could possibly find itself in the crosshairs of both nydfs and sec. Which is interesting, because there is clearly no vested interest in seeing one VC succeed over another... or is there? Ripple certainly seems to be trying to play catchup but still... Regardless, this would certainly spell DOOM for something like 'paycoin' lmao. It could create some interesting footwork for cloud based hasing services also. Are the mining shares to a certain extent basically a dividend yielding virtual currency?

Was hoping for some movement but, it appears all is quiet on the western front :/
Even if we did go sideways for a year; that's kindof a good thing. You can continue to accumulate and age your virtual assets. That is for those of you abiding by tax rules and regs, remember capone? So, when and if an opportunity manifests iteself sometime in the near to not to distant future, you can sell and use long term capital gains taxation strategies as opposed to something else. And yes, the biggest thing this does is provide a strong documented paper trail mandating exchanges to track transactions for tax purposes; uncle sam and the queen all need their cut.

[Fatman3001]

You bastards....

You chose it !
I think it is your subconscious fear expressing itself through art
Just grab the duvet, all will be fine

It's an actual picture of the earth from behind the moon!!!

We're going to the moon!!!

It's not going to crash!!!

I'm all pumped up and you guys are mocking me!!!

It's not fair!!!

[phoenix1]

You bastards....

You chose it !
I think it is your subconscious fear expressing itself through art
Just grab the duvet, all will be fine

It's an actual picture of the earth from behind the moon!!!

We're going to the moon!!!

It's not going to crash!!!

I'm all pumped up and you guys are mocking me!!!

It's not fair!!!

You are already on the moon - it's time to come home Fatman. We got futbol and beer here  

[BayAreaCoins]

Section 200.5 Application fees
As part of an application for licensing under this Part, each applicant must submit an initial application fee, in
the amount of five thousand dollars, to cover the cost of processing the application, reviewing application
materials, and investigating the financial condition and responsibility, financial and business experience, and
character and general fitness of the applicant. If the application is denied or withdrawn, such fee shall not be
refunded. Each Licensee may be required to pay fees to the Department to process additional applications
related to the license.

That should keep the little hopeful shrimp out of it!  

HOW FUCKING DARE THIS GUY PREVENT THE LOWER HALF OF THE ECONOMY NOT EVEN TO HAVE A CHANCE.

I will not use ANY service that follows this shit.  Pack your bags and go to NJ or something.

Vi Va La Resistance!

[Fatman3001]

You bastards....

You chose it !
I think it is your subconscious fear expressing itself through art
Just grab the duvet, all will be fine

It's an actual picture of the earth from behind the moon!!!

We're going to the moon!!!

It's not going to crash!!!

I'm all pumped up and you guys are mocking me!!!

It's not fair!!!

You are already on the moon - it's time to come home Fatman. We got futbol and beer here  

I don't wanna...

[BayAreaCoins]

I don't wanna...

No worries we will make it to $230's or almost today I'd bet.

[Fatman3001]

I don't wanna...

No worries we will make it to $230's or almost today I'd bet.

Sweet...

[phoenix1]

I don't wanna...

No worries we will make it to $230's or almost today I'd bet.

Sweet...

Must kill you staring at that beer, knowing your face will explode if you try and drink it ...
Come and have a pint at the local 

And that suit must STINK by now ...

[BayAreaCoins]

There's no way a government can regulate Bitcoin, they don't even know that it's de-centralized in the blockchain!

You and poor Andreas are in for some rude awakenings I fear.

[ChartBuddy]

Coin
Explanation

[Norway]

https://www.youtube.com/watch?v=z8sNiawoG8o&feature=youtu.be

Bullish!

[empowering]

There's no way a government can regulate Bitcoin, they don't even know that it's de-centralized in the blockchain!

You and poor Andreas are in for some rude awakenings I fear.

Weaponised gifs? 

[BayAreaCoins]

There's no way a government can regulate Bitcoin, they don't even know that it's de-centralized in the blockchain!

You and poor Andreas are in for some rude awakenings I fear.

Weaponised gifs?  

Um no thanks I'll have water.

OKCoin futures rising.

[Fatman3001]

https://www.youtube.com/watch?v=z8sNiawoG8o&feature=youtu.be

Bullish!

Definitely!

[gentlemand]

https://www.youtube.com/watch?v=z8sNiawoG8o&feature=youtu.be

Bullish!

Very nice to get the tired old shit about instant exchange dumping finally knocked on the head.

[Chef Ramsay]

Seems like the activity has picked up in this thread by double as I've noticed that many more pages that are posted overnights til the time I check in again. Great to see the License finally etched in stone so things can finally take hold and adapt to an ever growing market moving forward. Looking to hear something out of the Wink camp about their status coming up.

[bitebits]

https://www.youtube.com/watch?v=z8sNiawoG8o&feature=youtu.be

Bullish!

Don't tell Stolfi, it will ruin his (fantasy) world 

[luckygenough56]

2 dollars up woot woot

[BayAreaCoins]

https://www.youtube.com/watch?v=z8sNiawoG8o&feature=youtu.be

Bullish!

Don't tell Stolfi, it will ruin his (fantasy) world 

This isn't shocking.

They sell to like Ashton Kutcher and customers of those type.

[Fatman3001]

2 dollars up woot woot

ftfy