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July 02, 2013, 07:20:12 AM |
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Big mistake, it is the federal government with the pressure from Banks that are trying to kill Bitcoin.
Why the compliance if they are based in Japan?
There is an old saying you have to know your friends and your enemies, it is not words that count but actions.
Thanks to the feds the price of Bitcoins are down form $130 to $90 in about a month, thanks to them the Bitcoin ATMs are in a state of limbo and can not be implemented, thanks to them many exchanges had to shutdown, and the ones that did not shutdown on their own were taken down by brute force like liberty reserve, domain confiscation of wm-center.com, and mutum milligium (mtgox usa), legal treats to the Bitcoin Foundation and others, and the list goes on.
My wild guest is that in less than a year the big exchange will be btc-e.com, due to the lower operational cost that compliance involves, and when laws are applied by force in a gray area it is better to play it safe and stay away from them, like btc-e.com is doing.
We should create a list of fincen compliant exchanges and fincen non-compliant exchanges, most bitcoiners do not believe in compliance as shown in the last poll, due mainly to the behavior of Banks and Government.
If Bitcoin was centralized it would be dead by now.
Lets do not forget of Satoshi who did not trust the banks, and design the Bitcoin accordingly, Satoshi is a genius and many of his decision had a reason behind it, some critical others not so much, being pseudo-anonymous was one of the critical ones, another critical one was being deflationary, not so critical the number of coins, and the most critical is being p2p.
The gov is going to put pressure for a fork in which it is no longer pseudo-anonymous, that is something we must not allow, it is about the success of bitcoin vs failure, and that is why compliance is so dangerous, they might want a fork that is PRISM compliant, something completely not acceptable.
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