BitPay Business Solutions (OP)
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February 17, 2012, 07:59:12 PM Last edit: February 22, 2012, 05:39:04 AM by Bit-pay Merchant Solutions |
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BitPay : The World Leader in Bitcoin Business Solutions https://bitpay.comDoes your website accept bitcoins?
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herzmeister
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February 17, 2012, 08:38:15 PM |
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actually a social credit system (i.e. based on competing value tokens issued by lots of different companies) would be much better than the central banking system we have today. It is in fact proposed as a solution in Money As Debt 3. But please, not Facebook. They are a quasi-monopoly and people are sheeple and will by and large uncritically accept their credits as the only de-facto currency of exchange. This idea can only work if there are lots and lots of mid-size, ethical companies that have to compete for our valuation. For Bitcoin, it’s uncertain if it can play a role in such a scenario as a common denominator.
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J Pitt
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February 17, 2012, 08:46:32 PM Last edit: February 17, 2012, 08:57:52 PM by J Pitt |
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But please, not Facebook.
Not even "sheeple" are going to want to use a non-transferrable currency with a spending tax of 30% outside of Facebook games. EDIT: To the OP - if you want to give Trust Cash the benefit of the doubt, they may be an agent of an already licensed entity. But I have to say the whole operation seems odd to me.
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blueadept
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February 17, 2012, 09:03:57 PM |
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Google Checkout is licensed in Virginia. Facebook is not. There are quite a few others licensed in Virginia that are interesting. Full list is here.
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BitPay Business Solutions (OP)
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February 17, 2012, 09:06:47 PM |
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Google Checkout is licensed in Virginia. Facebook is not. There are quite a few others licensed in Virginia that are interesting. Full list is here. thanks, I updated the OP. This one is interesting in your list Amazon Payments, Inc. d/b/a TextPayMe410 Terry Avenue North Seattle, WA 98109
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BitPay : The World Leader in Bitcoin Business Solutions https://bitpay.comDoes your website accept bitcoins?
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Steve
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February 18, 2012, 01:51:02 AM |
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Amazon Payments, Inc. d/b/a TextPayMe 410 Terry Avenue North Seattle, WA 98109
I can't help but think Amazon.com may be Satoshi Nakamoto: - they have a history of butting heads with regulators - they operate a very high volume business on very slim margins - they certainly see half their profit margin going to the banks - they have a history of technical innovation It would make sense to me that they would put a team of bright people on the task of inventing a better payment system that would allow them to bypass the banks and dramatically improve their bottom line. When they worked out how to it, they would have realized they could never just launch such a thing themselves (bringing the ire of the bankers and the politicians they own down upon them). So, instead they come up with plan b…put it out there and nuture it until such time as it's clear that it can survive on its own, then back away…wait a few years until the world gets over all it's qualms about the technology…then start using it.
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paraipan
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February 18, 2012, 01:55:23 AM |
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Amazon Payments, Inc. d/b/a TextPayMe 410 Terry Avenue North Seattle, WA 98109
I can't help but think Amazon.com may be Satoshi Nakamoto: - they have a history of butting heads with regulators - they operate a very high volume business on very slim margins - they certainly see half their profit margin going to the banks - they have a history of technical innovation It would make sense to me that they would put a team of bright people on the task of inventing a better payment system that would allow them to bypass the banks and dramatically improve their bottom line. When they worked out how to it, they would have realized they could never just launch such a thing themselves (bringing the ire of the bankers and the politicians they own down upon them). So, instead they come up with plan b…put it out there and nuture it until such time as it's clear that it can survive on its own, then back away…wait a few years until the world gets over all it's qualms about the technology…then start using it. their service is called TextPayMe, right, they have any mention about decentralized e-currency in there or something ?
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BTCitcoin: An Idea Worth Saving - Q&A with bitcoins on rugatu.com - Check my rep
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Phinnaeus Gage
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Bitcoin: An Idea Worth Spending
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February 18, 2012, 04:18:36 AM |
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Amazon Payments, Inc. d/b/a TextPayMe 410 Terry Avenue North Seattle, WA 98109
I can't help but think Amazon.com may be Satoshi Nakamoto: - they have a history of butting heads with regulators - they operate a very high volume business on very slim margins - they certainly see half their profit margin going to the banks - they have a history of technical innovation It would make sense to me that they would put a team of bright people on the task of inventing a better payment system that would allow them to bypass the banks and dramatically improve their bottom line. When they worked out how to it, they would have realized they could never just launch such a thing themselves (bringing the ire of the bankers and the politicians they own down upon them). So, instead they come up with plan b…put it out there and nuture it until such time as it's clear that it can survive on its own, then back away…wait a few years until the world gets over all it's qualms about the technology…then start using it. their service is called TextPayMe, right, they have any mention about decentralized e-currency in there or something ? Not sure, but take a look at this: https://docs.google.com/viewer?pid=bl&srcid=ADGEESgJ8yckwNYqcJirJnChFxqmwGu7kipD2KbqQwYI5SmOFu11AFQWdoNEILLM-xcnSMyLRMVSUo8uuY86Ixk8n-dLr2S0e98ZbFB6HMlBSoJ1Oi_T4a7EBMcIlgqSSEZ1wYUMWPFf&q=cache%3AIPpL3ho5QWIJ%3Awww.edgardunn.com%2Fuploads%2F100012_english%2F100347.pdf%20&docid=c600ee601f693f608c79c6f198d4409f&a=bi&pagenumber=5&w=1200Source: https://docs.google.com/viewer?a=v&q=cache:IPpL3ho5QWIJ:www.edgardunn.com/uploads/100012_english/100347.pdf+&hl=en&gl=us&pid=bl&srcid=ADGEESgJ8yckwNYqcJirJnChFxqmwGu7kipD2KbqQwYI5SmOFu11AFQWdoNEILLM-xcnSMyLRMVSUo8uuY86Ixk8n-dLr2S0e98ZbFB6HMlBSoJ1Oi_T4a7EBMcIlgqSSEZ1wYUMWPFf&sig=AHIEtbQHPep_JaA1sB8MAnWu93DxgQhFbA
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BitPay Business Solutions (OP)
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February 18, 2012, 04:27:20 AM |
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That's a good report. Now if they will make one little change to page 8 it will solve all their problems.
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BitPay : The World Leader in Bitcoin Business Solutions https://bitpay.comDoes your website accept bitcoins?
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Yankee (BitInstant)
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Charlie 'Van Bitcoin' Shrem
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February 18, 2012, 04:47:25 AM |
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That's a good report. Now if they will make one little change to page 8 it will solve all their problems. Agreed
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Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer. More about me: http://CharlieShrem.com
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Phinnaeus Gage
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Bitcoin: An Idea Worth Spending
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February 18, 2012, 05:28:52 AM |
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That's a good report. Now if they will make one little change to page 8 it will solve all their problems. To me, it looks like an Easy Button.
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finway
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February 18, 2012, 06:15:32 AM |
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Haha.
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kjlimo
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February 19, 2012, 12:33:07 PM |
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Why all the research on these licenses?
Are we looking for competitors to bitcoin?
Does bitcoin need some of these licenses?
Is that even possible given that no one is "in charge" of bitcoin?
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cbeast
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Let's talk governance, lipstick, and pigs.
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February 19, 2012, 01:24:18 PM |
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Why all the research on these licenses?
Are we looking for competitors to bitcoin?
Does bitcoin need some of these licenses?
Is that even possible given that no one is "in charge" of bitcoin?
"What am I doing wrong? I only buy and sell Bitcoin products. If you have a problem with "their" products, talk to the Bitcoin producers."
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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BitPay Business Solutions (OP)
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February 19, 2012, 02:56:04 PM |
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Are we looking for competitors to bitcoin?
Does bitcoin need some of these licenses?
Is that even possible given that no one is "in charge" of bitcoin?
Mobile Wallets and Mobile payments will be a very, very crowded space in 1-2 years. So yes, it is quite interesting to see Facebook take the steps now to be a licensed Money Transmitter. Bitcoin services like the exchanges, payment processors, and expediters like BitInstant definitely fall under existing regulations for currency exchanges, payment processing, and money transmission. Especially when such businesses use Dollars or Euros as part of their business. So yes, the recent crackdown on TradeHill, etc, just shows that bitcoin related businesses need the proper licensing. If facebook and Google are getting this type of license, then bitcoin businesses should probably follow and do the same thing.
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BitPay : The World Leader in Bitcoin Business Solutions https://bitpay.comDoes your website accept bitcoins?
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marked
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February 19, 2012, 11:20:31 PM |
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Are we looking for competitors to bitcoin?
Does bitcoin need some of these licenses?
due diligence for a business to be legal in those states? Mobile Wallets and Mobile payments will be a very, very crowded space in 1-2 years. So yes, it is quite interesting to see Facebook take the steps now to be a licensed Money Transmitter.
facebook credits. If facebook and Google are getting this type of license, then bitcoin businesses should probably follow and do the same thing.
Google checkout, and facebook credits. should Amazon have licenses as well (I'm thinking primarily of the Mechanical Turk site) marked
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kjlimo
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February 20, 2012, 04:51:35 AM |
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So sounds like this is mostly an issue for exchanges.
We're thinking that there isn't anything that a business needs to do to simply accept bitcoins at this time?
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BitPay Business Solutions (OP)
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February 20, 2012, 05:20:14 AM |
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So sounds like this is mostly an issue for exchanges.
We're thinking that there isn't anything that a business needs to do to simply accept bitcoins at this time?
correct, there is nothing a merchant needs to do regarding licensing. Merchants are free to accept Euros, Pesos, gold, any form of payment they want to. The licensing is for the exchanges, the payment processors, and possibly the wallets.
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BitPay : The World Leader in Bitcoin Business Solutions https://bitpay.comDoes your website accept bitcoins?
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cbeast
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Let's talk governance, lipstick, and pigs.
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February 20, 2012, 02:00:39 PM |
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Ok, so this will only to apply to sending fiat money. Bitcoin isn't actually transmitted anywhere. It just registers a signature in the block chain and it doesn't matter where the wallet is stored. If the wallet is stored in the cloud, then it is not even going from point A to B. There is no reason to believe that the transaction is not local.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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cryptoanarchist
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February 20, 2012, 02:41:34 PM |
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If all Bitcoin exchanges become "licensed", I'll certainly lose faith in it as a currency. The point of bitcoin isn't to be accepted by the current powers that be, but to overthrow them. Fuck their licenses and fuck the people we're supposed to beg for permission from.
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I'm grumpy!!
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