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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2752714 times)
swartzfeger
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February 07, 2014, 08:01:21 PM
 #30941


Where the f*ck is the ACLU? (for non-USians, a group that supposedly defends and preserves individual rights)

This raises an issue I've been thinking about quite a bit... we all joke about having drinks on a beach in the Maldives if (when) Nxt goes lunar. Even exchanging small amounts will draw attention.

You want to exchange some of your NXT to buy a house ($150,000 USD). Instead of a lump sum, you exchange and deposit $5000/day for a month. Think you won't be getting a call or a visit?

Once the government figures out how to tax this we'll no longer be criminals.
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xyzzyx
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February 07, 2014, 08:07:11 PM
 #30942


Where the f*ck is the ACLU? (for non-USians, a group that supposedly defends and preserves individual rights)

Like vampires, they don't come in uninvited.

"An awful lot of code is being written ... in languages that aren't very good by people who don't know what they're doing." -- Barbara Liskov
Anon136
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February 07, 2014, 08:10:42 PM
 #30943


Where the f*ck is the ACLU? (for non-USians, a group that supposedly defends and preserves individual rights)

This raises an issue I've been thinking about quite a bit... we all joke about having drinks on a beach in the Maldives if (when) Nxt goes lunar. Even exchanging small amounts will draw attention.

You want to exchange some of your NXT to buy a house ($150,000 USD). Instead of a lump sum, you exchange and deposit $5000/day for a month. Think you won't be getting a call or a visit?

Once the government figures out how to tax this we'll no longer be criminals.

doesnt this mean its illegal to sell anything on craigslist? i mean would it be different if someone sold their bicoins on craigslist instead of localbitcoins? are bitcoins legally speaking any different from any other good that you might buy on craigslist?

Rep Thread: https://bitcointalk.org/index.php?topic=381041
If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?
gimre
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February 07, 2014, 08:11:31 PM
 #30944


Where the f*ck is the ACLU? (for non-USians, a group that supposedly defends and preserves individual rights)

This raises an issue I've been thinking about quite a bit... we all joke about having drinks on a beach in the Maldives if (when) Nxt goes lunar. Even exchanging small amounts will draw attention.

You want to exchange some of your NXT to buy a house ($150,000 USD). Instead of a lump sum, you exchange and deposit $5000/day for a month. Think you won't be getting a call or a visit?

Once the government figures out how to tax this we'll no longer be criminals.

We have separate law for foreign currencies, and separate for what german calls https://de.wikipedia.org/wiki/Devisen (don't put it into translate, it'll return non-understandable crap).

I doubt that crypto currencies will be ever treated as currencies (as most countries requires currencies to be emitted by a Nation),
but I think they could be treated as "Devisen"

xyzzyx
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February 07, 2014, 08:13:44 PM
 #30945

doesnt this mean its illegal to sell anything on craigslist? i mean would it be different if someone sold their bicoins on craigslist instead of localbitcoins? are bitcoins legally speaking any different from any other good that you might buy on craigslist?

It's the dollar amount.  They ran up against anti-money laundering laws.

The feds have an amount ($10,000) and states and local jurisdictions may have their own laws on the subject too.

It's a mine-field for those of us in the US.

"An awful lot of code is being written ... in languages that aren't very good by people who don't know what they're doing." -- Barbara Liskov
pandaisftw
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February 07, 2014, 08:15:18 PM
 #30946

yano the aliases?? are they something that could be sold in the future like domain names or are they just guna be for personal use or what??

Yes.

NXT: 13095091276527367030
Anon136
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February 07, 2014, 08:16:32 PM
 #30947

doesnt this mean its illegal to sell anything on craigslist? i mean would it be different if someone sold their bicoins on craigslist instead of localbitcoins? are bitcoins legally speaking any different from any other good that you might buy on craigslist?

It's the dollar amount.  They ran up against anti-money laundering laws.

The feds have an amount ($10,000) and states and local jurisdictions may have their own laws on the subject too.

It's a mine-field for those of us in the US.

so then people buying cars for > 10,000 on craigslist are breaking the law?

Rep Thread: https://bitcointalk.org/index.php?topic=381041
If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?
xyzzyx
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February 07, 2014, 08:18:00 PM
Last edit: February 07, 2014, 08:34:13 PM by xyzzyx
 #30948

doesnt this mean its illegal to sell anything on craigslist? i mean would it be different if someone sold their bicoins on craigslist instead of localbitcoins? are bitcoins legally speaking any different from any other good that you might buy on craigslist?

It's the dollar amount.  They ran up against anti-money laundering laws.

The feds have an amount ($10,000) and states and local jurisdictions may have their own laws on the subject too.

It's a mine-field for those of us in the US.

so then people buying cars for > 10,000 on craigslist are breaking the law?

I don't believe so since a car is a physical good.  It has to do with money-for-money transmission/exchange.

Edit: I could be wrong about that, though, from reading the Wiki article it says *all* cash transactions over $10k.




"An awful lot of code is being written ... in languages that aren't very good by people who don't know what they're doing." -- Barbara Liskov
Anon136
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February 07, 2014, 08:21:09 PM
 #30949

doesnt this mean its illegal to sell anything on craigslist? i mean would it be different if someone sold their bicoins on craigslist instead of localbitcoins? are bitcoins legally speaking any different from any other good that you might buy on craigslist?

It's the dollar amount.  They ran up against anti-money laundering laws.

The feds have an amount ($10,000) and states and local jurisdictions may have their own laws on the subject too.

It's a mine-field for those of us in the US.

so then people buying cars for > 10,000 on craigslist are breaking the law?

I don't believe so since a car is a physical good.  It has to do with money-for-money transmission/exchange.


OWOW bitcoin is considered money in the us now?

Rep Thread: https://bitcointalk.org/index.php?topic=381041
If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?
FrictionlessCoin
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February 07, 2014, 08:24:02 PM
 #30950

doesnt this mean its illegal to sell anything on craigslist? i mean would it be different if someone sold their bicoins on craigslist instead of localbitcoins? are bitcoins legally speaking any different from any other good that you might buy on craigslist?

It's the dollar amount.  They ran up against anti-money laundering laws.

The feds have an amount ($10,000) and states and local jurisdictions may have their own laws on the subject too.

It's a mine-field for those of us in the US.

so then people buying cars for > 10,000 on craigslist are breaking the law?

I don't believe so since a car is a physical good.  It has to do with money-for-money transmission/exchange.


OWOW bitcoin is considered money in the us now?

No, but accepting $10,000 is under money laundering laws.

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bithic
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February 07, 2014, 08:25:43 PM
 #30951

you know guys. we could cut out the dollar by tying our main token that we trade with to something extremely liquid but lacking other properties of money. the nxt token representation of the object will give it its strong money characteristics and the high liquidity of the item its tied to could give a stable and recognizable price.

so just as an offhand example, the basic pricing could be done by having the main medium of exchange be a token that represents 1 egg. say i am an egg farmer, i issue 1 million grade a egg colored tokens. the nxt/egg cross becomes the deepest and most liquid token in the market and so then nxt becomes priced in eggs. if you want to know what the value of a nxt is in dollars then you go to the supermarket and check out the price of eggs and just do the conversion. if you want eggs than you just trade 1 token for 1 egg to the egg farmer.

eggs probably bag example. ill try to think of something better.

Don't see how this should convert to real egg prices? If we cut out the dollar and the supermarket only accepts dollars then there's no link between real eggs and nxt eggs.

Supermarket should accept NXTs then we get the price real.

Apparently BTC China is using vouchers.

http://www.cryptonews.biz/btc-china-selling-vouchers-on-chinese-auction-site/

http://www.reddit.com/r/Bitcoin/comments/1tnf8e/btcchina_adds_a_fundingwithdrawal_option_btcc/
xyzzyx
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February 07, 2014, 08:26:09 PM
 #30952

doesnt this mean its illegal to sell anything on craigslist? i mean would it be different if someone sold their bicoins on craigslist instead of localbitcoins? are bitcoins legally speaking any different from any other good that you might buy on craigslist?

It's the dollar amount.  They ran up against anti-money laundering laws.

The feds have an amount ($10,000) and states and local jurisdictions may have their own laws on the subject too.

It's a mine-field for those of us in the US.

so then people buying cars for > 10,000 on craigslist are breaking the law?

I don't believe so since a car is a physical good.  It has to do with money-for-money transmission/exchange.


OWOW bitcoin is considered money in the us now?

I think I might be incorrect on the details.  Looks like all over $10k *cash* transactions must be reported.  A lawyer would be the best one to ask.  


"An awful lot of code is being written ... in languages that aren't very good by people who don't know what they're doing." -- Barbara Liskov
Voluntold
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February 07, 2014, 08:34:23 PM
 #30953

doesnt this mean its illegal to sell anything on craigslist? i mean would it be different if someone sold their bicoins on craigslist instead of localbitcoins? are bitcoins legally speaking any different from any other good that you might buy on craigslist?

It's the dollar amount.  They ran up against anti-money laundering laws.

The feds have an amount ($10,000) and states and local jurisdictions may have their own laws on the subject too.

It's a mine-field for those of us in the US.

so then people buying cars for > 10,000 on craigslist are breaking the law?

I'd say yes.  The difference is that people buying and selling used cars has been going on for a long time, it still gets taxed in some form (dmv fees), and it doesn't threaten the government's power in any way, unlike bitcoin/cryptos.

All I know is that the government can not stop crypto-currencies, aside from maybe shutting down the internet indefinitely, which isn't going to happen. And historically, anything the government bans, tends to drive UP the price. Fact: Something like 25% of the world's economy is black market. Crypto-currencies were MADE for the black market.

Nxt:  NXT-5BHG-9VRE-QGW6-DRZVQ
msin
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February 07, 2014, 08:37:53 PM
 #30954

Do we have a thread for those who deserve Dev Bounties from unclaimed Nxt?  I recommend the following allocation for dev:

l8oore (asset exchange) - 200k

We can add to these amounts in the future for ongoing projects.

I would like to see an asset exchange in action... cause i was going to implement it.
Since it is already done not sure if i will have to do so.

Yes, to be clear, these are for finished product, in the case of QBTC, it's more of a maintenance fee.
xyzzyx
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February 07, 2014, 08:38:24 PM
 #30955

All I know is that the government can not stop crypto-currencies, aside from maybe shutting down the internet indefinitely, which isn't going to happen. And historically, anything the government bans, tends to drive UP the price. Fact: Something like 25% of the world's economy is black market. Crypto-currencies were MADE for the black market.

This always seemed weird to me.  I mean, the ledger of transactions is public after all.  To me it seems foolish to use a public ledger when funding illegal activities.  But perhaps I just haven't thought it through since I don't care about drugs.

"An awful lot of code is being written ... in languages that aren't very good by people who don't know what they're doing." -- Barbara Liskov
bithic
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February 07, 2014, 08:41:16 PM
 #30956

so the real question is satoshi ==bcnext??
nope, a few years ago bcnext said he doesn't use C

Do u have the link?
I dont want to exploit his identity Smiley

Hasn't BCNext only been operating under that name for a few months? Do you know who he is then?
Voluntold
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February 07, 2014, 08:44:13 PM
 #30957

All I know is that the government can not stop crypto-currencies, aside from maybe shutting down the internet indefinitely, which isn't going to happen. And historically, anything the government bans, tends to drive UP the price. Fact: Something like 25% of the world's economy is black market. Crypto-currencies were MADE for the black market.

This always seemed weird to me.  I mean, the ledger of transactions is public after all.  To me it seems foolish to use a public ledger when funding illegal activities.  But perhaps I just haven't thought it through since I don't care about drugs.

People also use their phones to text drug deals... The government doesn't REALLY want people to stop illegal activities.  WAY too much money involved.

Nxt:  NXT-5BHG-9VRE-QGW6-DRZVQ
Daedelus
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February 07, 2014, 08:49:44 PM
 #30958

Question:

Is it better to give 5, 10 or 20 Nxt to little good things you see regularly (expecting everyone else to do the same),

or;

Will people think that is insulting for their effort (maybe get pee'd off and stop helping?) so I should save up my Nxt till I see something "WOW!" and give a few hundred?

Opinions?

N.B.
I bought all my Nxt after the 28th Dec, first purchase was 0.00009. Bought more since so I am looking at just about break-even so far. Never sold a Nxt so far though and I can feel another purchase coming on! Tho probably on Dgex, grrr... thanks Graviton but you have already had your tips out of me!
pandaisftw
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February 07, 2014, 08:50:22 PM
 #30959

All I know is that the government can not stop crypto-currencies, aside from maybe shutting down the internet indefinitely, which isn't going to happen. And historically, anything the government bans, tends to drive UP the price. Fact: Something like 25% of the world's economy is black market. Crypto-currencies were MADE for the black market.

This always seemed weird to me.  I mean, the ledger of transactions is public after all.  To me it seems foolish to use a public ledger when funding illegal activities.  But perhaps I just haven't thought it through since I don't care about drugs.

People also use their phones to text drug deals... The government doesn't REALLY want people to stop illegal activities.  WAY too much money involved.

This is why I recommend to use a pigeon carrier for illicit activities.


Just kidding NSA, I don't even have a pigeon

NXT: 13095091276527367030
Mistafreeze
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February 07, 2014, 08:51:40 PM
 #30960

Question:

Is it better to give 5, 10 or 20 Nxt to little good things you see regularly (expecting everyone else to do the same),

or;

Will people think that is insulting for their effort (maybe get pee'd off and stop helping?) so I should save up my Nxt till I see something "WOW!" and give a few hundred?

Opinions?

N.B.
I bought all my Nxt after the 28th Dec, first purchase was 0.00009. Bought more since so I am looking at just about break-even so far. Never sold a Nxt so far though and I can feel another purchase coming on! Tho probably on Dgex, grrr... thanks Graviton but you have already had your tips out of me!


I've gotten some small donations and one large one. I appreciate them all the same.
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