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Keyser Soze
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November 13, 2013, 10:08:31 PM |
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All businesses using this spynet will not reveal it publicly if they don’t want to be boycotted.
Not a lawyer or anything, but wouldn't the business have to disclose that they are sharing your information to a third party? |
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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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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justusranvier
Legendary
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Activity: 1400
Merit: 1009
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November 13, 2013, 10:10:08 PM |
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All businesses using this spynet will not reveal it publicly if they don’t want to be boycotted.
Not a lawyer or anything, but wouldn't the business have to disclose that they are sharing your information to a third party? Not if they are located in the USSA. |
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Keyser Soze
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November 13, 2013, 10:15:16 PM |
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All businesses using this spynet will not reveal it publicly if they don’t want to be boycotted.
Not a lawyer or anything, but wouldn't the business have to disclose that they are sharing your information to a third party? Not if they are located in the USSA. I used to work in banking and we were required to give out privacy disclosures (when you opened an account) that stated what we can and cannot do with your information. I doubt that has changed since I left banking earlier this year. |
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Carlton Banks
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Activity: 3430
Merit: 3074
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November 13, 2013, 10:23:23 PM |
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All businesses using this spynet will not reveal it publicly if they don’t want to be boycotted.
Not a lawyer or anything, but wouldn't the business have to disclose that they are sharing your information to a third party? Not if they are located in the USSA. I used to work in banking and we were required to give out privacy disclosures (when you opened an account) that stated what we can and cannot do with your information. I doubt that has changed since I left banking earlier this year. Did you have access to reputable and accurate figures as to how often your bank infringed on this part of their contract with their customers? |
Vires in numeris
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Carlton Banks
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Merit: 3074
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November 13, 2013, 10:30:52 PM |
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Incidentally, this should cause miners some concern; what if this leads to illegalising the use of mined coins if they cannot be associated with a miners "licence"? May as well start making the coins clean at the source, don't you think?
This is an attack on the Bitcoin model, pure and simple.
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Vires in numeris
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Keyser Soze
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November 13, 2013, 10:35:45 PM |
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Did you have access to reputable and accurate figures as to how often your bank infringed on this part of their contract with their customers?
I worked for a small regional bank and was unaware of any intentional misuse of client data. If a bank was intentionally making these violations, I would assume they would hide/disguise that information. |
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justusranvier
Legendary
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Activity: 1400
Merit: 1009
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November 13, 2013, 10:36:07 PM |
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Incidentally, this should cause miners some concern; what if this leads to illegalising the use of mined coins if they cannot be associated with a miners "licence"? May as well start making the coins clean at the source, don't you think?
This is an attack on the Bitcoin model, pure and simple.
And a major ASIC manufacture is backing it. |
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Carlton Banks
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Activity: 3430
Merit: 3074
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November 13, 2013, 10:47:13 PM |
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Incidentally, this should cause miners some concern; what if this leads to illegalising the use of mined coins if they cannot be associated with a miners "licence"? May as well start making the coins clean at the source, don't you think?
This is an attack on the Bitcoin model, pure and simple.
And a major ASIC manufacture is backing it. Not as major as they once were. I think the total GH shipped, GH/mm 2 and GH/W crowns are held by KnC and Bitfury at the moment. Avalon brought their new chip out only a week or two ago, and it still doesn't compete with Bitfury on hashing energy efficiency, and they're both fabricated suing the same node feature tech (55nm). |
Vires in numeris
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Valerian77
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November 13, 2013, 11:47:35 PM |
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Forget them. They will at most scam the US authorities or goverment. Reality is that Bitcoin will spread over the world and China is currently the most surging market. How will they force any Chinese individual to give them their ID ?? What they can achieve at most is advanced regulation for the US customers which cooperate - I am wondering sometimes how much US people let their goverment do to themselves. But even against US citizens who are not willed to cooperate these guys would not be able to do anything - that would be similar to Torrent.
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Carlton Banks
Legendary
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Activity: 3430
Merit: 3074
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November 13, 2013, 11:58:06 PM |
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Forget them. They will at most scam the US authorities or goverment. Reality is that Bitcoin will spread over the world and China is currently the most surging market. How will they force any Chinese individual to give them their ID ?? What they can achieve at most is advanced regulation for the US customers which cooperate - I am wondering sometimes how much US people let their goverment do to themselves. But even against US citizens who are not willed to cooperate these guys would not be able to do anything - that would be similar to Torrent.
What's the point of creating a coin taint database, which cannot possibly make any significant revenue from anywhere except government funding, and then not using it to enforce some new cryptocurrency taint law? Then, all businesses have to comply, as the cost of accepting potentially tainted cryptocurrency will be too much to bear. It's receiving money where you're restricted in where you spend it, the network affect of doing this will very gradually tighten around everyone using Bitcoin. People all over the world will have easy access to check the status of the coins they have received or will receive, and will reject people who wish to send from "unregistered" addresses, afraid they will (eventually) be unable to spend them. Big assault on Bitcoin, make no mistake. |
Vires in numeris
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Valerian77
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November 14, 2013, 12:03:54 AM |
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Then, all businesses have to comply, ...
Big assault on Bitcoin, make no mistake.
yes for the US citizens. Then I would buy in China and forget about US products. Not because I want to buy illegal things but because I do not want to support a spying country with their 3-letter agencies. Apart from this most products come from China or Taiwan already now. |
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BitDreams
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November 14, 2013, 12:13:03 AM |
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Why couldn't this be a simple opt in or opt out?
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Carlton Banks
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November 14, 2013, 12:13:23 AM |
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Then, all businesses have to comply, ...
Big assault on Bitcoin, make no mistake.
yes for the US citizens. Then I would buy in China and forget about US products. Not because I want to buy illegal things but because I do not want to support a spying country with their 3-letter agencies. Apart from this most products come from China or Taiwan already now. It's not about what you choose to do with the money, it's about the choices the person who will receive it from you would like. If the Chinese or Taiwanese merchant, or whoever next receives it from them, wants to spend tainted coins in the US, they will be rejected because the coins are on the taint list. No-one wants the hot potato, don't you understand? |
Vires in numeris
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Carlton Banks
Legendary
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Activity: 3430
Merit: 3074
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November 14, 2013, 12:14:56 AM |
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Why couldn't this be a simple opt in or opt out?
(shakes head) It is. But, everyone will be forced to opt in eventually, because no-one wants their choices restricted when it comes to money. |
Vires in numeris
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justusranvier
Legendary
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Activity: 1400
Merit: 1009
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November 14, 2013, 12:15:08 AM |
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Why couldn't this be a simple opt in or opt out?
What's going to happen is that every Bitcoin-accepting business in US jurisdiction is going to be told that they participate and enforce this database, or else they'll be prosecuted for violating money transmitter laws. |
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Arvicco (OP)
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November 14, 2013, 12:42:34 AM |
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Why couldn't this be a simple opt in or opt out?
What's going to happen is that every Bitcoin-accepting business in US jurisdiction is going to be told that they participate and enforce this database, or else they'll be prosecuted for violating money transmitter laws. Yep, no doubt about it - clear as daylight. It's either this, or preventing this vile scheme from ever getting off the ground with a massive shout down and boycott. The choice is yours, Bitcoin community. E-mail your favorite Bitcoin business(es) if you must. Let them know that if they as much as think about participating, your business goes elsewhere. And seriously, go to DarkWallet campaign and send them 0.1 BTC. You know you can afford it. It's a damn shame the project that intends to preserve financial liberties of Bitcoin community is struggling to raise 50K USD to fund the development: http://www.indiegogo.com/projects/bitcoin-dark-wallet |
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BitDreams
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November 14, 2013, 12:43:36 AM |
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Why couldn't this be a simple opt in or opt out?
What's going to happen is that every Bitcoin-accepting business in US jurisdiction is going to be told that they participate and enforce this database, or else they'll be prosecuted for violating money transmitter laws. Ok, I get that. I can only guess but I think something would rise up to counter it. Oh yeah, dark wallet & mesh networks. |
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notthematrix
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Activity: 980
Merit: 1000
CryptoTalk.Org - Get Paid for every Post!
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November 14, 2013, 12:49:51 AM |
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Why couldn't this be a simple opt in or opt out?
What's going to happen is that every Bitcoin-accepting business in US jurisdiction is going to be told that they participate and enforce this database, or else they'll be prosecuted for violating money transmitter laws. Ok, I get that. I can only guess but I think something would rise up to counter it. Oh yeah, dark wallet & mesh networks. All goverment resistance is futile  At worse US will introduse a self boycott |
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bitboyben
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November 14, 2013, 12:51:08 AM |
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My two satoshis:
UNNECESSARY
1. Banks that have anti laundering laws *still* launder money, HSBC cough cough
2. They got DPR with out needing this system.
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Why did I sell at $5! Come back to me my old bitcoin! 1GjeBGS4KrxKAeEVt8d1fTnuKgpKpMmL6S
If you don't like the price of BTC come back in 8 hours.
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notthematrix
Legendary
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Activity: 980
Merit: 1000
CryptoTalk.Org - Get Paid for every Post!
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November 14, 2013, 01:01:54 AM |
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My two satoshis:
UNNECESSARY
1. Banks that have anti laundering laws *still* launder money, HSBC cough cough
2. They got DPR with out needing this system.
DPR was a fool , sharing his BTC andress on this forem. next he was talking about silkroad on this forem,,, well that was very easy to detect for anybody ,,, he was just not carefull was a understement. |
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