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Author Topic: There is a way we can trade Bitcoin without getting shut down constantly - read  (Read 18642 times)
JackH
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April 05, 2013, 07:20:20 PM
 #81

I am going to push this article up as I think there are grounds for debating this further, ie. the price shows muscles. I am still open to do this, contact me if interested in pushing BTC to the credit markets.

<helo> funny that this proposal grows the maximum block size to 8GB, and is seen as a compromise
<helo> oh, you don't like a 20x increase? well how about 8192x increase?
<JackH> lmao
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hous
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April 05, 2013, 10:00:51 PM
 #82

yep count me in! Wink
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April 13, 2013, 04:50:07 PM
 #83

I'm currently thinking about executing this idea and created a blog bitcoinfund.ch to publish my ideas, so anyone can track its progress.

Residing in Switzerland? Then write me to join the Bitcoin Association Switzerland - the local chapter of the Bitcoin Foundation.
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April 29, 2013, 09:46:12 AM
 #84

I am going to push this article up as I think there are grounds for debating this further, ie. the price shows muscles. I am still open to do this, contact me if interested in pushing BTC to the credit markets.

BUMP

It is about Freedom Of Choice and I choose Bitcoin.
greBit
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May 09, 2013, 10:08:52 AM
 #85

This is a great idea, has any progress been made? Do you have a team working on this?
melon
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May 17, 2013, 06:56:13 AM
 #86

in currency if a bond is bought in dollars and paid in dollars its a zero coupon bond... if the dollar buys up a btc denominated bond it's called a repo or reverse repo.i think ...if theres a repurchase provision in the bond... ie accepting dollars (cash) for startup rather than BTCowners buying up btc bonds to get started... so there could be either dollar startup or get btc already owned to buy into new btc startups using only btc

Once was a man his name was Jed..had a lot of hair but it wasn't on his head !
JackH
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May 18, 2013, 09:14:02 PM
 #87

This can only be done with some serious money behind it. The best approach would obviously be to start incorporating a company and getting it listed on an exchange. Pink Sheets in the USA or equivalent in Europe such as AIM in UK would work quite well. But starting this without at least 250.000$ or more would be suicide.

<helo> funny that this proposal grows the maximum block size to 8GB, and is seen as a compromise
<helo> oh, you don't like a 20x increase? well how about 8192x increase?
<JackH> lmao
franky1
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May 20, 2013, 11:42:30 AM
 #88

not even sure why jack H thinks he is an expert.

he is obviously american. but even from his first post i had a few face palms reading his advice.

firstly
to avoid SEC/fincen he is right trade in europe.. but then your going to get hit by their eu regulations. which if you look at the history of american bitcoin exchanges trying to offer UK/EU services (covered by euro money laws) get shut down alot more harshly for not having the licences.

secondly
avoiding the licences of the country which the bank account exists in is not good legal advice.

thirdly
SEC/Fincen/EU regulations dont care about bitcoin. all they care about is the fiat side so concentrating on rebranding bitcoin as a bond wont change anything. because your still avoiding the fiat licences. so your still going to get caught.

my advice if you want to be a good exchange, be a expert money manager, with proof that you can with confidence handle large sums of fiat/bitcoin. and the best proof to achieve this is.... by putting your own money where your mouth is and pay for the fiat licences required by the law of the country you have the bank account set to.

if you want to legally avoid the liceneces/regulations. avoid FIAT. and only trade the different alt-currencies between each other.

now here is some actual practical advice.
knowing the licences are expensive here is the solution.
get 10 qualified and eager people that want to set up exchanges but cannot themselves afford the licences. combine your funds and form 1 business, and 9 subsiduaries.

for instance. bitcoin-central has licences for europe. bitinstant has licences for the US, and there is another exchange starting up in the UK which will have UK licences, all three partner up and form a official international company FIAT gateway, and then have their own business(which i already named) as the subsiduary business for each of their own area's of expertise.

Do not take any information given on this forum on face value. Please do your own due diligence and respect what is written here as both opinion and information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist
agentbluescreen
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May 20, 2013, 01:05:18 PM
 #89

A bitcoin is an Over the Counter (OTC) Credit-Swap (funded Credit Swap or fCS).

To you, it is only worth what the last guy sold it to you for and made off with. You funded "his" credit for it and the next guy (is assumed to be willing to) fund yours!

http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000

The reason Bitcoins/Altcoin tokens are legal is because they are OTC derivatives. Otherwise they would be a Ponzi scheme.

https://bitcointalk.org/index.php?topic=175708.msg1832923#msg1832923


The markets for them are not "exchanges", they are simply marketplaces.

Stop pretending that BTC is a national socialist "currency" backed by a national socialist economy, it is not.

For eons Gold Pharaohs enslaved us and our nations through their monopoly. Free us all from them forevermore with:
Bitcoin, the Goldslayer! - Welcome to the digitally portable, untraceable, perfectly lawful "BTC securitized OTC Credit Swap derivative" money that is OURS, ALONE! So you got your TARP, eh? Guess what?
MSantori
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May 20, 2013, 03:53:34 PM
 #90

not even sure why jack H thinks he is an expert.

he is obviously american. but even from his first post i had a few face palms reading his advice.

firstly
to avoid SEC/fincen he is right trade in europe.. but then your going to get hit by their eu regulations. which if you look at the history of american bitcoin exchanges trying to offer UK/EU services (covered by euro money laws) get shut down alot more harshly for not having the licences.

secondly
avoiding the licences of the country which the bank account exists in is not good legal advice.

thirdly
SEC/Fincen/EU regulations dont care about bitcoin. all they care about is the fiat side so concentrating on rebranding bitcoin as a bond wont change anything. because your still avoiding the fiat licences. so your still going to get caught.

my advice if you want to be a good exchange, be a expert money manager, with proof that you can with confidence handle large sums of fiat/bitcoin. and the best proof to achieve this is.... by putting your own money where your mouth is and pay for the fiat licences required by the law of the country you have the bank account set to.

if you want to legally avoid the liceneces/regulations. avoid FIAT. and only trade the different alt-currencies between each other.

now here is some actual practical advice.
knowing the licences are expensive here is the solution.
get 10 qualified and eager people that want to set up exchanges but cannot themselves afford the licences. combine your funds and form 1 business, and 9 subsiduaries.

for instance. bitcoin-central has licences for europe. bitinstant has licences for the US, and there is another exchange starting up in the UK which will have UK licences, all three partner up and form a official international company FIAT gateway, and then have their own business(which i already named) as the subsiduary business for each of their own area's of expertise.

There is good meat to this post.  

To the OP: Please, just promise me that a good year prior to any money changes hands you speak to an attorney.  Your plans for setting up an exchange are exciting and have potential.  Your plans to evade regulatory scrutiny, though...  are more worrisome.

Marco Santori is a lawyer, but not your lawyer, and this is not legal advice.  If you do have specific questions, though, please don't hesitate to PM me.  We've learned this forum isn't 100% secure, so you might prefer to email me.  Maybe I can help!  Depending upon your jurisdiction, this post might be construed as attorney advertising, so: attorney advertising Smiley
Inedible
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May 20, 2013, 06:20:06 PM
 #91

not even sure why jack H thinks he is an expert.

he is obviously american. but even from his first post i had a few face palms reading his advice.

firstly
to avoid SEC/fincen he is right trade in europe.. but then your going to get hit by their eu regulations. which if you look at the history of american bitcoin exchanges trying to offer UK/EU services (covered by euro money laws) get shut down alot more harshly for not having the licences.

secondly
avoiding the licences of the country which the bank account exists in is not good legal advice.

thirdly
SEC/Fincen/EU regulations dont care about bitcoin. all they care about is the fiat side so concentrating on rebranding bitcoin as a bond wont change anything. because your still avoiding the fiat licences. so your still going to get caught.

my advice if you want to be a good exchange, be a expert money manager, with proof that you can with confidence handle large sums of fiat/bitcoin. and the best proof to achieve this is.... by putting your own money where your mouth is and pay for the fiat licences required by the law of the country you have the bank account set to.

if you want to legally avoid the liceneces/regulations. avoid FIAT. and only trade the different alt-currencies between each other.

now here is some actual practical advice.
knowing the licences are expensive here is the solution.
get 10 qualified and eager people that want to set up exchanges but cannot themselves afford the licences. combine your funds and form 1 business, and 9 subsiduaries.

for instance. bitcoin-central has licences for europe. bitinstant has licences for the US, and there is another exchange starting up in the UK which will have UK licences, all three partner up and form a official international company FIAT gateway, and then have their own business(which i already named) as the subsiduary business for each of their own area's of expertise.

There is good meat to this post.  

To the OP: Please, just promise me that a good year prior to any money changes hands you speak to an attorney.  Your plans for setting up an exchange are exciting and have potential.  Your plans to evade regulatory scrutiny, though...  are more worrisome.

Maybe I've missed something earlier on in the thread but nowhere do I see franky1 say he's setting up a business so speaking to an attorney isn't useful.

Nowhere does he mention evading regulatory scrutiny, in fact, quite the opposite.

Are we reading the same post?

If this post was useful, interesting or entertaining, then you've misunderstood. 1N6rmaDiPf8ke3mx8217NykAMDZXkX713x
franky1
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May 20, 2013, 07:41:08 PM
 #92

inedible thanks for the defense but um.. yea.. nycsquire was talking about the OP.. meaning JackH .. not me

so nycSquire was asking if JackH would go to an attorney.

that being said. if/when i set up an exchange or anything involving fiat i will be FSA regulated.(or maybe wink wink i already am under my real life birth certified identity.. just not as this franky persona)

Do not take any information given on this forum on face value. Please do your own due diligence and respect what is written here as both opinion and information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist
BitcoinAshley
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May 20, 2013, 07:53:14 PM
 #93

Bump - getting some BTC bonds on the "real markets" would be great! It may not have been as successful in 2011 when this thread was started but now we could potentially get some VC funds behind it, get the proper licenses, and start issuing.

I have neither the funds nor the contacts to help organize this but I think it's a great idea.  Grin
Inedible
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May 21, 2013, 07:56:22 AM
 #94

inedible thanks for the defense but um.. yea.. nycsquire was talking about the OP.. meaning JackH .. not me

so nycSquire was asking if JackH would go to an attorney.

that being said. if/when i set up an exchange or anything involving fiat i will be FSA regulated.(or maybe wink wink i already am under my real life birth certified identity.. just not as this franky persona)

Sincere apologies to nycsquire - that'll teach me to jump in half-cocked.

FSA - So you're in the UK? I've had a quick look into FSA registration - I couldn't find many expenses involved as a money transmitter but I only spent a few hours looking. The only ones I have come across thus far are for registering each person involved and also for each place of business. You also need to be a fit and proper person. I don't suppose you know of any other costs?

If this post was useful, interesting or entertaining, then you've misunderstood. 1N6rmaDiPf8ke3mx8217NykAMDZXkX713x
JackH
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May 21, 2013, 01:24:48 PM
 #95

Umm guys, I never spoke of evading any laws or jumping any regulations here. This has so far been a theoretical proposal, and due to the high requirement of funds, I have been unable to start the venture. Ironically, the majority of the funds needs to be used for legal aid, regulatory licenses and in general the legal framework.

<helo> funny that this proposal grows the maximum block size to 8GB, and is seen as a compromise
<helo> oh, you don't like a 20x increase? well how about 8192x increase?
<JackH> lmao
JackH
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July 07, 2013, 02:21:48 PM
 #96

Looks like the twins did this Wink Great job guys!

<helo> funny that this proposal grows the maximum block size to 8GB, and is seen as a compromise
<helo> oh, you don't like a 20x increase? well how about 8192x increase?
<JackH> lmao
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