Is New York Going too far?

[Rob768]

As you may be aware, today's news: http://www.talkgold.com/forum/r398092-.html

Do you think this is going too far?  Will other States follow in their footsteps.  On one hand I do think that the whole drug issues around Bitcoin may be hurting those using it legitimately.

[CasinoBit]

If you base your company in North Korea then you really can't whine when all your rights are stripped away by a bunch of demagogues.

[cbeast]

America is crazy. The Bitcoin witch hunt could get interesting. They may even make a reality tv show that hunts down bitcoin miners.

[MysteryMiner]

If you base your company in North Korea then you really can't whine when all your rights are stripped away by a bunch of demagogues.

NorthYork Korea? With the exception than in real North Korea the Bitcoin might be more free than in most democratic country in world.

[Epicurus]

As you may be aware, today's news: http://www.talkgold.com/forum/r398092-.html

Do you think this is going too far?  Will other States follow in their footsteps.  On one hand I do think that the whole drug issues around Bitcoin may be hurting those using it legitimately.

They've asked for information, that's all. Regulators are still trying to learn and understand about bitcoin.

[HeliKopterBen]

Regulation is necessary or else society will descend into chaos.  The important thing to understand is that the bitcoin economy can be regulated but the core protocol and currency itself cannot be controlled.  It will be impossible for governments to manipulate the currency as they do with fiat, essentially limiting their power.  This is necessary.

[cbeast]

Regulation is necessary or else society will descend into chaos.  The important thing to understand is that the bitcoin economy can be regulated but the core protocol and currency itself cannot be controlled.  It will be impossible for governments to manipulate the currency as they do with fiat, essentially limiting their power.  This is necessary.

Governments always take that extra rope.

[jeannie]

Best to register your company where the country's policies is pro-Bitcoin, you have less of such risks

[vampire]

As you may be aware, today's news: http://www.talkgold.com/forum/r398092-.html

Do you think this is going too far?  Will other States follow in their footsteps.  On one hand I do think that the whole drug issues around Bitcoin may be hurting those using it legitimately.

They aren't persecuting, they're simply asking if the companies are complying with regulations. Since NY SEC charged pirateat40, you would expect a lot more attention. People asked for gov to intervene, so here you go.

[Lethn]

The ironic thing is that in regards to Bitcoin even the people who deal in it won't be able to tell the companies who they're dealing with because of the way Bitcoin works the only information they could give was on people who dealt in paper money which would only make people use Bitcoin more.

[ElectricMucus]

America is crazy. The Bitcoin witch hunt could get interesting. They may even make a reality tv show that hunts down bitcoin miners.

Hey I would watch that!

[inspiredinvestor]

Best to register your company where the country's policies is pro-Bitcoin, you have less of such risks

I think this is a good stratedgy to Jeannie, but if you are doing business on the ground, your a small business doing transactions offline. would register your company in a pro-bitcoin company.

Or should New yorkers go on regular roadtrips to canada for transactions?

[cbeast]

America is crazy. The Bitcoin witch hunt could get interesting. They may even make a reality tv show that hunts down bitcoin miners.

Hey I would watch that!

Hosted by Charles Schumer who gives up his political ambitions to combat the evil scourge of Bitcoin, "Coin Hunters" takes to the streets. Dressed in full tactical gear, they search for high electric bills in search of these high tech addicts suffering delusions of grandeur about "changing the system." Sundays 10p/9p on FOXXXXXXXXXXX.

[Machinery]

I think this is going too far yes. They want to control everything.

[Chronikka]

As you may be aware, today's news: http://www.talkgold.com/forum/r398092-.html

Do you think this is going too far?  Will other States follow in their footsteps.  On one hand I do think that the whole drug issues around Bitcoin may be hurting those using it legitimately.

The drug thing is just a pathetic excuse. People buy millions of dollars in drugs everyday (legal and non) with just about every currency on the planet. Bitcoin is no different.

[illpoet]

to catch a bitcoin miner. "now if you look on page five of our chat logs you say you want to dry hump a knc jupiter to make it hash faster. Could you explain yourself before the cops drag you out of here?"  a bitcoin is way too much freedom for ordinary citizens to have at least not until holidays.  The cool thing bitcoin has going for it is its really appealing to greedy bastards. If more prostitutes start accepting bitcoin theres no politician in the entire state that will be able to resist it.

[QuestionAuthority]

Eventually Team America: World Police will make all Bitcoiners wear a yellow coin badge when they leave the house so the authorities can identify them on sight. This badge will be known as the Star of Satoshi.

[EndTheFed321]

All Bitcoiners will be targeted by Drones 

[zachcope]

America is crazy. The Bitcoin witch hunt could get interesting. They may even make a reality tv show that hunts down bitcoin miners.

SWAT team conduct dawn raid on basement of middle class subburban house with T.V. crews in hot pursuit.
Pictures of fat spotty kid being dragged out of bed and cops smashing racks of computers and cooling towers with the buts of their riffles.
Mum in her nightie sobbing uncosolably.
Father looking distraught, 'Marijuana, cocaine, even crystal meth I could understand but this - I can't believe you're a bitcoiner. You're no son of mine.'
Son breaks away from the cops and whispers to his watching friend and neighbour 'behind the fireplace, my butterfly labs ASIC - it arrived, fire it up and change the world'.
He is then dragged away to the van and disappears.

[inspiredinvestor]

America is crazy. The Bitcoin witch hunt could get interesting. They may even make a reality tv show that hunts down bitcoin miners.

SWAT team conduct dawn raid on basement of middle class subburban house with T.V. crews in hot pursuit.
Pictures of fat spotty kid being dragged out of bed and cops smashing racks of computers and cooling towers with the buts of their riffles.
Mum in her nightie sobbing uncosolably.
Father looking distraught, 'Marijuana, cocaine, even crystal meth I could understand but this - I can't believe you're a bitcoiner. You're no son of mine.'
Son breaks away from the cops and whispers to his watching friend and neighbour 'behind the fireplace, my butterfly labs ASIC - it arrived, fire it up and change the world'.
He is then dragged away to the van and disappears.

lol, i love the image of the dad, head in hands shaking his head. "why couldn't he have just gotten into crack, why?"

because banks are evil, and the kid dreams!