Regulation by Ben Lawsky,NY

[segeln]

Does anyone know wether the announced time schedule (End Q II) ist still valid?

[Dragonkiller]

Haven't seen anything to suggest otherwise.

[segeln]

Haven't seen anything to suggest otherwise.

so,this and the next week will be very exciting

[cypherdoc]

Don't forget to do your civic duty and pound on Professor Bitcorn at the end of the month.

[Dragonkiller]

Don't forget to do your civic duty and pound on Professor Bitcorn at the end of the month.

Meh.

People are outraged about what he said because they think because he is a professor, somehow his opinions are more valid and therefore if he is wrong, he should be ridiculed.

But he is just an idiot and always will be. A piece of paper doesn't change that.

[Ibian]

Don't pound him for being a professor, that part is irrelevant. Pound him for being an arrogant fool. Public exposure and humiliation is the only way that type learn.

[segeln]

no more Information about this issue?

[Arghhh]

This announcement will likely be the main catalyst for our next bubble.

[segeln]

This announcement will likely be the main catalyst for our next bubble.

it´s the most important and decisive issue for bitcoin

[Dragonkiller]

This announcement will likely be the main catalyst for our next bubble.

it´s the most important and decisive issue for bitcoin

It will be positive. It is no coincidence it is timed along with the Silk Road seizure sale and Apple allowing 'approved' digital currency apps. Remember that Ben Lawsky announced that he will start accepting applications for exchanges back in February. I expect the exchange Barry Silbert is working on to be announced very shortly afterwards. And the Winklevoss ETF to be approved at around the same time.

[TERA]

They're probably struggling to figure out exactly how to regulate it. Remember during those court meetings the panel was explaining to the regulators how bitcoin works and the regulators didn't even really know that much about it at that point. There were a lot of ideas thrown around that sounded good on paper because the regulators were thinking of the ideas in terms of how traditional finance systems work, but they weren't thinking them through on a technical level of how bitcoin actually works. Ben Lawsy probably realizes now that he got in a little over his head now that the regulators have learned more about what bitcoin actually is, how it works technically, the decentralization, how the existing exchange system is set up, and who the big holders are. Everything will have to be re-thought. It's probably a nightmare.

[Dragonkiller]

They're probably struggling to figure out exactly how to regulate it. Remember during those court meetings the panel was explaining to the regulators how bitcoin works and the regulators didn't even really know that much about it at that point. There were a lot of ideas thrown around that sounded good on paper because the regulators were thinking of the ideas in terms of how traditional finance systems work, but they weren't thinking them through on a technical level of how bitcoin actually works. Ben Lawsy probably realizes now that he got in a little over his head now that the regulators have learned more about what bitcoin actually is, how it works technically, the decentralization, how the existing exchange system is set up, and who the big holders are. Everything will have to be re-thought. It's probably a nightmare.

Yeah... that's the pessimism I was talking about. Not healthy.

[Arghhh]

They're probably struggling to figure out exactly how to regulate it. Remember during those court meetings the panel was explaining to the regulators how bitcoin works and the regulators didn't even really know that much about it at that point. There were a lot of ideas thrown around that sounded good on paper because the regulators were thinking of the ideas in terms of how traditional finance systems work, but they weren't thinking them through on a technical level of how bitcoin actually works. Ben Lawsy probably realizes now that he got in a little over his head now that the regulators have learned more about what bitcoin actually is, how it works technically, the decentralization, how the existing exchange system is set up, and who the big holders are. Everything will have to be re-thought. It's probably a nightmare.

Benjamin Lawsky urinated in your coffee this morning didn't he?

[TERA]

It's not pessimism. It's a rational explanation for why this might be taking so long with any announcements at all.

Now if I was actually pessimistic I might say something like... "they are actually planning to ban bitcoin".

[Dragonkiller]

It's not pessimism. It's a rational explanation for why this might be taking so long with any announcements at all.

Now if I was actually pessimistic I might say something like... "they are actually planning to ban bitcoin".

There was an announcement in February that the framework will be released no later than Q2 2014. What announcement do you want? You want an update every month repeating the same thing?

If there has been no update, it means nothing has changed. Announcements usually announce new information.

[shields]

Someone that's on twitter, tweet him and ask him if it's still on schedule:  @benlawsky https://twitter.com/BenLawsky

[segeln]

Someone that's on twitter, tweet him and ask him if it's still on schedule:  @benlawsky https://twitter.com/BenLawsky

done
I will report

[alexeft]

It's not pessimism. It's a rational explanation for why this might be taking so long with any announcements at all.

Now if I was actually pessimistic I might say something like... "they are actually planning to ban bitcoin".

Do you always have to rationalize downwards??   

[TERA]

It's not pessimism. It's a rational explanation for why this might be taking so long with any announcements at all.

Now if I was actually pessimistic I might say something like... "they are actually planning to ban bitcoin".

Do you always have to rationalize downwards??  

This isn't downwards. It's a possible explanation for the delay that already happened  (remember than it was July at the latest, not July at the earliest). I'm not saying that anything bad is going to happen in the future, or that bitcoin is going to go down, nor did I give a timetable for delays in the future.

[segeln]

It's not pessimism. It's a rational explanation for why this might be taking so long with any announcements at all.

Now if I was actually pessimistic I might say something like... "they are actually planning to ban bitcoin".

Do you always have to rationalize downwards??  

This isn't downwards. It's a possible explanation for the delay that already happened  (remember than it was July at the latest, not July at the earliest). I'm not saying that anything bad is going to happen in the future, or that bitcoin is going to go down, nor did I give a timetable for delays in the future.

just wait another 12 days before speaking of a delay