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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2761736 times)
BitcoinForumator
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February 07, 2014, 07:38:05 PM
 #30761


Reminds me of Napster times.
cryptolawyer
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February 07, 2014, 07:41:21 PM
 #30762

rofl. i completely missed that thread where i was mentioned like a dozen times

U should monetize ur reputation. If u were a fiat gateway operator for Asset Exchange, u would help the community a lot. I would accept dollars issued by u without any doubt. Think of such a business plz...

I was planning on being the silver bullion gateway but I could also do fiat.

Does anyone have any thoughts on US based fiat exchange? Seems you have all the FINCEN registration to go through.
What does localbitcoins do? Fly under the radar? I bought my first Btc in person from localbitcoins, from a daytrader literally on wall street.

I will gladly make myself available as a New York based fiat exchange, but trying to sort the legality.

Stop by the NY Bitcoin Center at 40 Broad on Monday night and throw some NXT into the mix. I was there last week and Doge was being traded alongside BTC.

If you do, I'll know who you are, and come over and introduce myself.

Hey CL

 What's the usual method of trading over there? fees?
 I would imagine offering NXT is a little harder, what with phone apps and wallets. Def need a laptop with you I assume?

I didn't actually trade myself when I went to check out the space; but there was a live auction going on with buyers and sellers trading  face to face. Plenty of space to sit down with a laptop and work the transfer if you find a counterparty.
salsacz
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February 07, 2014, 07:51:28 PM
 #30763

so the real question is satoshi ==bcnext??
nope, a few years ago bcnext said he doesn't use C
cryptolawyer
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February 07, 2014, 07:51:53 PM
 #30764

rofl. i completely missed that thread where i was mentioned like a dozen times

U should monetize ur reputation. If u were a fiat gateway operator for Asset Exchange, u would help the community a lot. I would accept dollars issued by u without any doubt. Think of such a business plz...

I was planning on being the silver bullion gateway but I could also do fiat.

Does anyone have any thoughts on US based fiat exchange? Seems you have all the FINCEN registration to go through.
What does localbitcoins do? Fly under the radar? I bought my first Btc in person from localbitcoins, from a daytrader literally on wall street.

I will gladly make myself available as a New York based fiat exchange, but trying to sort the legality.

Stop by the NY Bitcoin Center at 40 Broad on Monday night and throw some NXT into the mix. I was there last week and Doge was being traded alongside BTC.

If you do, I'll know who you are, and come over and introduce myself.

Hey CL

 What's the usual method of trading over there? fees?
 I would imagine offering NXT is a little harder, what with phone apps and wallets. Def need a laptop with you I assume?

I didn't actually trade myself when I went to check out the space; but there was a live auction going on with buyers and sellers trading  face to face. Plenty of space to sit down with a laptop and work the transfer if you find a counterparty.

In light of the localbitcoins arrest in FL, it will be interesting to see who shows up at Monday's event here in NY...
Ola
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February 07, 2014, 07:52:05 PM
 #30765

Random: In my research for current project for nxt I think I found Bcnext..In a 2012 thread he referenced a blockchain based coin he had been working on since 2010 with 1000tps, low cpu resource usage and parallel / meta chains...he also uses two spaces after a period coincidence??! thing is I don't think would be my place to disclose this information....

so the real question is satoshi ==bcnext??

I will give only one hint in phrase form if cfb promises to say yay or nay to the hint.

I explained why BCNext can't be Satoshi, but evil moderators deleted the whole thread I referenced there - https://bitcointalk.org/index.php?topic=345619.msg4873326#msg4873326

just say aye Smiley

I could say yay or nay but why do u think that I know the correct answer?

Because you communicate with bcnext and might know other info...I would agree that you may not know the answer, if the identity of the alias "bcnext" is all you know.

Nxter,Bitcoiner,Ether highlevel developer working to improve the world.
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February 07, 2014, 07:54:40 PM
 #30766

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

Do u have the link?
salsacz
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February 07, 2014, 07:55:52 PM
 #30767

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
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February 07, 2014, 08:01:21 PM
 #30768


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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February 07, 2014, 08:07:11 PM
 #30769


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
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February 07, 2014, 08:10:42 PM
 #30770


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?
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February 07, 2014, 08:11:31 PM
 #30771


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"

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February 07, 2014, 08:13:44 PM
 #30772

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
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February 07, 2014, 08:15:18 PM
 #30773

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
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February 07, 2014, 08:16:32 PM
 #30774

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
 #30775

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
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February 07, 2014, 08:21:09 PM
 #30776

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?
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February 07, 2014, 08:24:02 PM
 #30777

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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February 07, 2014, 08:25:43 PM
 #30778

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/
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February 07, 2014, 08:26:09 PM
 #30779

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
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February 07, 2014, 08:34:23 PM
 #30780

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
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