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Author Topic: NY Hearings - lets live blog this puppy : - )  (Read 11610 times)
threecats
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January 28, 2014, 08:16:48 PM
 #101

she is getting out there ... a lock box for your cryptocurrency  ...
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January 28, 2014, 08:17:08 PM
 #102

I like how coblee said the USG should mine to prevent a 51% attack

Who said they already don't do that. Notice the steeply rising "unknown" pool %. Unknown=US, china, etc.?
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January 28, 2014, 08:17:48 PM
 #103

She actually thinks the only way people trade/transact Bitcoins is by trading private keys? Oh wow.  Shocked

In times of change, it is the learners who will inherit the earth, while the learned will find themselves beautifully equipped for a world that no longer exists.
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January 28, 2014, 08:19:16 PM
 #104

so much of this is about setting up a nanny state to protect us from what we are already doing ...
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January 28, 2014, 08:20:07 PM
 #105

She actually thinks the only way people trade/transact Bitcoins is by trading private keys? Oh wow.  Shocked

"are they transferring the cryptocurrencies, or just the private keys?"  Wink
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January 28, 2014, 08:20:14 PM
 #106

Someone should walk in and blow all of their minds by talking about trading Colored Coins (particularly one's that represent fiat currencies) on a decentralized exchange!  Grin They think they have it all figured out and they're still years behind on the technology!

In times of change, it is the learners who will inherit the earth, while the learned will find themselves beautifully equipped for a world that no longer exists.
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January 28, 2014, 08:20:22 PM
 #107

Actually she raises a good point that a lot of muggles don't get about the distinction between the private key and the coins stored at its corresponding address.  Me sending you coins via the network is technically (and probably legally) distinct from me giving you a private key.  This distinction is something regulators need to grok fully before they can do their job.  

They're trying to buy all the coins. 
We must not let them.
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January 28, 2014, 08:21:06 PM
 #108

Who cares about cooptus nonsense? Is this a longest informercial on gov airways or what?

For anyone interested, it's Coeptis that the lawyer was talking about.  I had to Google it to find some info on it.
http://www.coeptis.com
http://www.ft.com/cms/s/0/f7488616-561a-11e3-96f5-00144feabdc0.html#axzz2riztTRxv

It's interesting, as I remember the whole e-Gold fiasco and how the US Government eventually shut it down.  Not sure if Douglas Jackson still has enough clout to resurrect something like this.  Why would we trust something like this again?
http://en.wikipedia.org/wiki/E-gold
threecats
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January 28, 2014, 08:23:23 PM
 #109

"in the midst of the sale, the cryptotransmission goes down"
humanitee
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January 28, 2014, 08:23:57 PM
 #110

"in the midst of the sale, the cryptotransmission goes down"

cryptocompany*

made me laugh
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January 28, 2014, 08:25:36 PM
 #111

In the midst of the sale, the world explodes. WHERE IS MY DOLLARS HUH?

http://haschinabannedbitcoin.com
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto
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January 28, 2014, 08:28:54 PM
 #112

Actually she raises a good point that a lot of muggles don't get about the distinction between the private key and the coins stored at its corresponding address.  Me sending you coins via the network is technically (and probably legally) distinct from me giving you a private key.  This distinction is something regulators need to grok fully before they can do their job.  

It is an interesting situation. If there is an identity attached to the private key, it is like giving someone the password to your online banking account. If there is no identity attached to the private key then it is similar to an off-chain transaction. Ultimately there is some interesting money laundering potential with trading private keys.

In times of change, it is the learners who will inherit the earth, while the learned will find themselves beautifully equipped for a world that no longer exists.
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January 28, 2014, 08:29:32 PM
 #113

By jove I think she has got it!

A shame the awkward silence in the room made it seem like nobody else did Wink

http://haschinabannedbitcoin.com
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto
threecats
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January 28, 2014, 08:30:12 PM
 #114

bitstamp has gone down by ten since these chicks started talking ....
humanitee
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January 28, 2014, 08:36:37 PM
 #115

Shit, done carbon'd to hard ya'll
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January 28, 2014, 08:41:31 PM
 #116

Someone should walk in and blow all of their minds by talking about trading Colored Coins (particularly one's that represent fiat currencies) on a decentralized exchange!  Grin They think they have it all figured out and they're still years behind on the technology!

Coloredcoins reference complete

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January 28, 2014, 08:41:45 PM
 #117

Someone should walk in and blow all of their minds by talking about trading Colored Coins (particularly one's that represent fiat currencies) on a decentralized exchange!  Grin They think they have it all figured out and they're still years behind on the technology!

... as if by magic ...

http://haschinabannedbitcoin.com
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto
jerk
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January 28, 2014, 08:42:33 PM
 #118

Bring back panel 1!
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January 28, 2014, 08:43:12 PM
 #119

Someone should walk in and blow all of their minds by talking about trading Colored Coins (particularly one's that represent fiat currencies) on a decentralized exchange!  Grin They think they have it all figured out and they're still years behind on the technology!

Coloredcoins reference complete

They were pretty mind blown but they've totally glossed over it now! Damn it. Charlie, tell them about decentralized exchanges!!!!

Edit: Oh man, why oh why didn't he tell them that cryptocurrencies could represent fiat currencies! They'd have exploded!

In times of change, it is the learners who will inherit the earth, while the learned will find themselves beautifully equipped for a world that no longer exists.
jamesc760
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January 28, 2014, 08:49:16 PM
 #120

An Asian nerd sandwiched between two blonde female lawyers. There's a joke somewhere...
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