DamienBlack (OP)
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July 14, 2011, 04:50:19 AM
Last edit: July 14, 2011, 05:01:11 AM by DamienBlack |
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Over at bitcoincharts I noticed a campbx ad. Normally I run adblock, I'm not used to seeing ads, so forgive me if this is old news.
The ad stated:
"Bitcoin Market in USA - CampBX is the only legal Bitcoin market. Free trades till July 15!"
and it made me wonder. Where do they get the "data" that they are the only legal market? Legal how? A website selling goods or commodities wouldn't need any special permits, and would be quite legal. Not to mention, there are exchanges in a whole bunch of different countries. Have they researched everyone's legal system to determine the legal status of a bitcoin exchange. Since this would probably take many lawyers, many months to figure out, and probably require a court ruling in the end, I just don't see how they can claim that every other bitcoin exchange is illegal, even if they are just talking about in the US.
Don't get be wrong, I really hope CampBX takes off. This ad just seemed a little hyperbolic. Do they know something I don't? What argument would you use to justify their statement? is it justifiable?
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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wumpus
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July 14, 2011, 04:54:12 AM |
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Same for this "trusted bitcoin exchange" tagline. I'll decide for myself who to trust, thank you.
Nothing smells as fishy as people or companies calling themselves trusted, especially if it's the new kid on the block.
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Bitcoin Core developer [PGP] Warning: For most, coin loss is a larger risk than coin theft. A disk can die any time. Regularly back up your wallet through File → Backup Wallet to an external storage or the (encrypted!) cloud. Use a separate offline wallet for storing larger amounts. |
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Leon
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July 14, 2011, 04:58:43 AM |
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Over at bitcoincharts I noticed a campbx ad. Normally I run adblock, I'm not used to seeing ads, so forgive me if this is old news.
The ad stated:
"Bitcoin Market in USA - CampBX is the only legal Bitcoin market. Free trades till July 15!"
and it made me wonder. Where do they get the "data" that they are the only legal market? Legal how? A website selling goods or commodities wouldn't need any special permits, and would be quite legal. Not to mention, there are exchanges in a whole bunch of different countries. Have they researched ever one's legal system to determine the legal status of a bitcoin exchange. Since this would probably take many lawyers, many months to figure out, and probably require a court ruling in the end, I just don't see how they can claim that every other bitcoin exchange is illegal, even if they are just talking about in the US.
Don't get be wrong, I really hope CampBX takes off. This ad just seemed a little hyperbolic. Do they know something I don't? What argument would you use to justify their statement? is it justifiable?
Its all BS, but we'll see what they have to say about this when they get the emails. Seems like they are trashing themselfs before even getting a client base, lol. |
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BitcoinPorn
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July 14, 2011, 05:04:25 AM |
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So this is just a case of someone throwing the word 'legal' out there with nothing behind it?
I always heard people use the saying 'if you take 7 hits of acid, you are legally insane!' Was there an illegally insane. or "legally sane" for that matter. buh.
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error
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July 14, 2011, 05:11:13 AM |
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Over at bitcoincharts I noticed a campbx ad. Normally I run adblock, I'm not used to seeing ads, so forgive me if this is old news.
The ad stated:
"Bitcoin Market in USA - CampBX is the only legal Bitcoin market. Free trades till July 15!"
and it made me wonder. Where do they get the "data" that they are the only legal market? Legal how? A website selling goods or commodities wouldn't need any special permits, and would be quite legal. Not to mention, there are exchanges in a whole bunch of different countries. Have they researched everyone's legal system to determine the legal status of a bitcoin exchange. Since this would probably take many lawyers, many months to figure out, and probably require a court ruling in the end, I just don't see how they can claim that every other bitcoin exchange is illegal, even if they are just talking about in the US.
Don't get be wrong, I really hope CampBX takes off. This ad just seemed a little hyperbolic. Do they know something I don't? What argument would you use to justify their statement? is it justifiable?
Where did you see this ad? I can't find it. Also, what makes you think that CampBX placed the ad? It very well could have been someone else. |
3KzNGwzRZ6SimWuFAgh4TnXzHpruHMZmV8
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DamienBlack (OP)
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July 14, 2011, 05:15:10 AM |
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Where did you see this ad? I can't find it.
Also, what makes you think that CampBX placed the ad? It very well could have been someone else.
Hmm.. I should have taken a screenshot, I just keep getting the forex ad now. It was a text ad with two others, like google does. Why would someone else put in the ad? They don't have a referral system do they? EDIT: They do have a referral system. Unfortunately i did not check the link for a referral code. I will the next time I see it. |
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sadpandatech
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July 14, 2011, 05:21:32 AM
Last edit: July 14, 2011, 06:08:24 AM by sadpandatech |
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Over at bitcoincharts I noticed a campbx ad. Normally I run adblock, I'm not used to seeing ads, so forgive me if this is old news.
The ad stated:
"Bitcoin Market in USA - CampBX is the only legal Bitcoin market. Free trades till July 15!"
Not that I can attest to anything or really give 2 shits. But to clearify what is meant by their statement, which I cannot be assed to verify is that they are the only USA market that is legaly registered as a forex and that deals in bitcoins in the USA. He had mentioned in his threads about the company that he had legal type peoples working on those type of things. Would have to go read his threads to clearify that part of it. But I am sure that is all they are implying by it is that they are the only one at the time of the ad draw up that had covered such things in the USA. Edit; I went back and searched through all the relevant posts I could find from Campbx just to try and validate that claim. It is a very loosley stated one as are most of the statements in terms of banking, such as, " we are committed to maintaining full compliance with State of Georgia - Department of Banking and Finance regulations", as according to them they are merely registered as an LLC in Georgia and have a bank account that is FDIC insured. They explain that here; https://forum.bitcoin.org/index.php?topic=22510.0 It all comes down to trust. I like that they are atleast registered as a business verses just completely being underground and hosting in some jungle camp and so far appear to have a very professional looking operation in place. Anything else after that is personal willingness to take risk in a new company, just like any thing else. EDIT: They do have a referral system. Unfortunately i did not check the link for a referral code. I will the next time I see it.
please let us know if you do. Same for this "trusted bitcoin exchange" tagline. I'll decide for myself who to trust, thank you.
Nothing smells as fishy as people or companies calling themselves trusted, especially if it's the new kid on the block.
agreed, gonna take some time to earn that "trusted" part. |
If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system.
- GA
It is being worked on by smart people. -DamienBlack
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DamienBlack (OP)
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Activity: 56
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July 14, 2011, 06:08:04 AM |
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It all comes down to trust. I like that they are atleast registered as a business verses just completely being underground and hosting in some jungle camp and so far appear to have a very professional looking operation in place. Anything else after that is personal willingness to take risk in a new company, just like any thing else.
Indeed. I actually am already a member, and have deposited 5 BTC. |
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sadpandatech
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July 14, 2011, 06:11:17 AM |
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It all comes down to trust. I like that they are atleast registered as a business verses just completely being underground and hosting in some jungle camp and so far appear to have a very professional looking operation in place. Anything else after that is personal willingness to take risk in a new company, just like any thing else.
Indeed. I actually am already a member, and have deposited 5 BTC. Rock on, am considering liquidating some to move over that way myself. I am most interested in seeing if the market can stay liquid enough to run some short buys or margins that wont give me a stroke. |
If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system.
- GA
It is being worked on by smart people. -DamienBlack
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DamienBlack (OP)
Jr. Member
Offline
Activity: 56
Merit: 1
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July 14, 2011, 06:14:38 AM |
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It all comes down to trust. I like that they are atleast registered as a business verses just completely being underground and hosting in some jungle camp and so far appear to have a very professional looking operation in place. Anything else after that is personal willingness to take risk in a new company, just like any thing else.
Indeed. I actually am already a member, and have deposited 5 BTC. Rock on, am considering liquidating some to move over that way myself. I am most interested in seeing if the market can stay liquid enough to run some short buys or margins that wont give me a stroke. Liquidity is not currently their strong point. But hopefully that will change. Their order options are really great. Good enough for me to make them my primary exchange when the liquidity picks up. |
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Jered Kenna (TradeHill)
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July 14, 2011, 01:45:38 PM
Last edit: July 15, 2011, 07:52:40 PM by Jered Kenna (TradeHill) |
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It's wrong for us to promote ourselves in your thread.
I'll remove this post and leave you to discuss your own business in your thread.
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moneyandtech.com
@moneyandtech @jeredkenna
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Keyur @ Camp BX
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July 15, 2011, 07:33:40 PM |
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We haven't really tried to make a big issue out of this but TradeHill is based in both the US in addition to Chile and always has been.
We follow regulations regarding MSB, AML and we maintain a US business account at an FDIC insured bank.
Jered, just PMed you about these. Thank you, Keyur |
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Keyur @ Camp BX
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July 15, 2011, 07:56:43 PM |
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Don't get be wrong, I really hope CampBX takes off. This ad just seemed a little hyperbolic. Do they know something I don't? What argument would you use to justify their statement? is it justifiable?
Damien, Thank you for your kind words about CBX! To clarify, we have looked in to growing through acquisition or partnerships, and performed due-diligence in to TradeHill USA, TradeHill Ltd., Mutum Sigilum (aka Mt.Gox) and pulled all their records for review. We also had phone conversations with multiple European regulators to ask about all companies. Thank you, Keyur |
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Jered Kenna (TradeHill)
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July 15, 2011, 07:57:54 PM |
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We haven't really tried to make a big issue out of this but TradeHill is based in both the US in addition to Chile and always has been.
We follow regulations regarding MSB, AML and we maintain a US business account at an FDIC insured bank.
Jered, just PMed you about these. Thank you, Keyur Replied, thanks for the PM. Feel free to contact me anytime and good luck with your company. |
moneyandtech.com
@moneyandtech @jeredkenna
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