http://www.coindesk.com/new-york-bitlicense-views-inside-bitcoin-industry/“I think it’s unfortunate, it’s not timely. The industry is very, very young and trying to regulate it now is entirely premature. Like the Internet, you need to give these things time to develop and see where the problem areas are.” - Patrick Murck, general counsel at the Bitcoin Foundation
Roger Ver, a fervent opponent of the proposals, said BitLicenses are “just a guise to protect the banks and other established industries” from competition that bitcoin would bring.
“This will eliminate the college dorm room startup. It will eliminate the young entrepreneur who is willing to put in 100 hours per week, but who doesn’t have $100,000 for his first two months of legal bills. It will make innovation the purview of large companies, which is to say, it will diminish innovation.” - Erik Voorhees
“These regulations do not even highlight the distinction between digital assets and digital currencies. Without representing the difference between the two, the NYDFS is issuing indiscriminate guidelines that threaten to destroy bitcoin. Numerous businesses have told me they are ready to block out all New York IPs from their servers, and will not do business in this jurisdiction if these proposed regulations are enacted.” - Chamber of Digital Commerce
Community Consensus:
“The consensus among bitcoin entrepreneurs at our recent conferences in Chicago and San Francisco has been to block New York customers rather than comply with the regulations.”Now here's what your hero Brian Kelly says about the exact same legislation:
"This (introduction of bitcoin regulation) was the right move at the right time."
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Notice anything different here? Notice anything different between Brian's opinion and every single other opinion given by every recognized community leader of bitcoin?
Brian Kelly IS paving the way for a Wall Street takeover of the cryptocurrency scene, by slowly innoculating users into the belief that big business and government intrusion into their lives is actually a good thing and not the reason why the world is currently bursting apart at the seams.
Brian Kelly is definitely a snake oil salesman. He's a turncoat, a double-agent, a traitor and an enemy of freedom. He cares about nothing except getting himself and his rich friends even richer. As a man who built his entire career around Wall Street you should know better than to expect anything else from him.
You're selectively quoting an article from the 18th of July and here's the bits you probably didn't read.
"it is critical for the New York DFS to honor its commitment to not stifle innovation" - doesn't sound like they've done that.
"over the next 45 days, the digital-currency community will have an opportunity to opine on the proposed rules" - that's what's happening now.
"ideally, regulations will be light-handed enough to encourage those in the digital currency space to voluntarily submit to regulation" - doesn't sound like they'll be voluntarily submitting.
So please stop misrepresenting things, it's like you are obsessed with BK for having an opinion you disagree with. I also like the way you presume we're all stupid sheep that can't think for ourselves.
There's plenty of actual snake oil salesmen out there so go hassle them.
I've also noticed a lot of claimed direct correlation between BK's opinion and this specific regulation without hard evidence of BK stating he supports this particular regulation.
I think what needs to be understood is BK's opinion (and he can correct me if I'm wrong but I have interpreted it correctly in the past).
Regulation is an unavoidable fact that will happen, it would be better for those in the crypto-arena to write and maintain this regulation than those in the government (especially if acted upon quickly).
This is kind of key here because it actually supports nutildah's opinion posted a number of pages back: That financial regulation from
the government fails and that the wage and income gap (from that legislation) has increased since it started. (Hear that BK and nutildah actually agree on something).
His opinion also states that those in this private sector (those in the crypto-arena) should be the ones handling the regulation writing and maintenance (not the state/federal government/banks but us INDIVIDUALS).
Glad to have you in our corner nutildah. Glad to see you finally supporting NAUT.
Anyway, as it is an inevitability is it not time that someone form the Virtual Currency Proponents Board, an international representative board that holds the interest of all virtual currencies at heart and actively operates to write and enforce legislation that supports virtual currencies? I mean there's specific foundations and stuff for independent coins and whatnot, but why not an international non-prop advocacy group for all virtual currencies? Ultimately if we just sit here complaining that the government is screwing us it's not getting anything done, how about we actually do something?
My own news: My project is going well, I believe I am on target for my announcement date :-)
