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Author Topic: Singapore  (Read 226581 times)
pitan
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June 13, 2013, 06:45:58 AM
 #121

Like that very busy leh must keep track of everything we do to get the coins... Ya only Canada is doing it now
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bengx
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June 13, 2013, 06:52:08 AM
 #122

Read an article on TOC: Minus all your SG Coins lol.
SGExodus
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June 13, 2013, 06:59:50 AM
 #123

Read an article on TOC: Minus all your SG Coins lol.

If good article get tips, then more people will write good articles mah...

That's why Reddit Gone Wild sub section more and more interesting these days Tongue
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June 13, 2013, 07:01:32 AM
 #124

Read an article on TOC: Minus all your SG Coins lol.

If good article get tips, then more people will write good articles mah...

That's why Reddit Gone Wild sub section more and more interesting these days Tongue

Haha my point was that the gahmen doesn't want you to read TOC. Read ST, however, would get you SG coins Tongue
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June 13, 2013, 08:31:17 AM
 #125

Like that very busy leh must keep track of everything we do to get the coins... Ya only Canada is doing it now

Izzit?  Actually it is fun, micropayments to reward acts of kindness, you got any links for me to read further on this?  Thanks a bunch!
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June 13, 2013, 09:08:22 AM
 #126

I meant the mint chip la not your national coin ideal
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June 13, 2013, 09:11:51 AM
 #127

Ahhhh, I thought really got.....Singapore love to be Number 1, so hopefully our govt will be Number 1 in this.
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June 13, 2013, 10:19:36 AM
 #128

Ya everything... Also want to be hub for everything so why not hub for btc?
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June 13, 2013, 10:21:27 AM
 #129

Ya everything... Also want to be hub for everything so why not hub for btc?

I nominate you to talk to our DPM cum Finance Minister Mr Tharman SHANMUGARATNAM! Smiley
pitan
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June 13, 2013, 10:40:13 AM
 #130

Wahhhh don't like that la, nominate me shy la...
Lol... seriously do you all really want the SG government to get involved with btc?
For me I rather they close one eye than be fully involved.
What are your thoughts?
worldinacoin
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June 13, 2013, 11:29:06 AM
 #131

In Singapore, I feel that we are quite passive.  Hard to get anything off the ground without the explicit approval of the govt.  Also with the involvement of the govt, the Coin can gain trust right from the beginning, we just need to help propagate the usage of the coins.  The approval of the govt can leapfrog the SG Coin process.
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June 14, 2013, 02:22:40 AM
 #132

In Singapore, I feel that we are quite passive.  Hard to get anything off the ground without the explicit approval of the govt.  Also with the involvement of the govt, the Coin can gain trust right from the beginning, we just need to help propagate the usage of the coins.  The approval of the govt can leapfrog the SG Coin process.

Why would the govt get involved?

And how would you even get them involved?
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June 14, 2013, 02:49:43 AM
 #133

In Singapore, I feel that we are quite passive.  Hard to get anything off the ground without the explicit approval of the govt.  Also with the involvement of the govt, the Coin can gain trust right from the beginning, we just need to help propagate the usage of the coins.  The approval of the govt can leapfrog the SG Coin process.

Why would the govt get involved?

And how would you even get them involved?

Govt should get involved in regulating the local exchanges.   Make sure they have the necessary business licenses and proper process to handle all the money/bitcoins on the exchange.   Don't let the Bitcoinica incident happen again because a kid outsource the code to another script kiddies over QQ.
derekleong75
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June 14, 2013, 03:24:26 AM
 #134

I believe FYB is registered with ACRA already, is it not?

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pitan
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June 14, 2013, 04:20:28 AM
 #135

I believe FYB is registered with ACRA already, is it not?


More importantly is what will MAS do if let say FYB grows in volume. That will be interesting will have to ask the operator.
derekleong75
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June 14, 2013, 04:29:12 AM
 #136

Well, so far as you can see from the FYB site, all accounts > SGD$1000 need to have account verification.  It wasn't there 2 weeks ago.
So it looks like MAS wants to know who the $ belongs to.  Probably to stamp out money laundering. 

But there are so many exchanges worldwide, if one really wanted to launder, they wouldn't be so stupid as to offload everything on FYB.  Probably spread out across multiple exchanges and wire the money everywhere where it won't be so easily traced.

In any case, I am happy to have a local exchange where I can buy/sell in SGD with direct output to POSB.
Just want more people/businesses to use BTC locally then happy liao.

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pitan
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June 14, 2013, 05:02:18 AM
 #137

Well, so far as you can see from the FYB site, all accounts > SGD$1000 need to have account verification.  It wasn't there 2 weeks ago.
So it looks like MAS wants to know who the $ belongs to.  Probably to stamp out money laundering.  

But there are so many exchanges worldwide, if one really wanted to launder, they wouldn't be so stupid as to offload everything on FYB.  Probably spread out across multiple exchanges and wire the money everywhere where it won't be so easily traced.

In any case, I am happy to have a local exchange where I can buy/sell in SGD with direct output to POSB.
Just want more people/businesses to use BTC locally then happy liao.


Ya, I noted the verification but I still wonder about tax issues... Ya imagine using btc to buy movie tickets or mcd Lol... Now unbalance input and no place to output
derekleong75
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June 14, 2013, 05:09:34 AM
 #138

Tax issues is troublesome.  But only when you really have a lot of volume then I guess the taxman will come.
Actually I wish the taxman will come.  So that means I really got "volume" LOL!

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pitan
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June 14, 2013, 05:16:03 AM
 #139

Ya volume leh... BTW ASICminer blades is having "facelift" should be interesting. Lucky didn't bought any hope cheaper and better hash rates
derekleong75
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June 14, 2013, 07:00:24 AM
 #140

Yeah, friedcat says new blades more improved and lower price.
Will be interesting.  If $1k plus i dont mind investing in 1. Tongue
Me <-- poor miner... I am like those greybeard, fat, broken toothed, dirty and alcohol smelling miner.

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