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Malin Keshar
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July 27, 2014, 02:28:18 PM |
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Any reason to believe that Satoshi's coins are under the jurisdiction of the NY laws?
Or are they trying to enforce their own lawns over all the world?
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Meuh6879
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July 27, 2014, 02:54:19 PM |
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Or are they trying to enforce their own lawns over all the world?
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btcforall777
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July 27, 2014, 06:28:14 PM |
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With anon technology, city state and federal laws dont mean much. no need to go to Switzerland anymore. Every body has their own tax haven if they know how with crypto coins.
TAX REVENUES WILL PLUMMET!
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Yakamoto
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July 27, 2014, 06:37:30 PM |
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With anon technology, city state and federal laws dont mean much. no need to go to Switzerland anymore. Every body has their own tax haven if they know how with crypto coins.
TAX REVENUES WILL PLUMMET!
Pretty much this. Get your local stores accepting Bitcoin (or an alt) and BOOM! We're free from regulations. |
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transient858
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July 27, 2014, 06:47:57 PM |
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With anon technology, city state and federal laws dont mean much. no need to go to Switzerland anymore. Every body has their own tax haven if they know how with crypto coins.
TAX REVENUES WILL PLUMMET!
Pretty much this. Get your local stores accepting Bitcoin (or an alt) and BOOM! We're free from regulations. Tax evasion will get the owner in jail, which is far from freedom. |
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Yakamoto
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July 27, 2014, 08:58:29 PM |
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With anon technology, city state and federal laws dont mean much. no need to go to Switzerland anymore. Every body has their own tax haven if they know how with crypto coins.
TAX REVENUES WILL PLUMMET!
Pretty much this. Get your local stores accepting Bitcoin (or an alt) and BOOM! We're free from regulations. Tax evasion will get the owner in jail, which is far from freedom. They don't have taxes on Bitcoin, but I do see what you are saying. I say that, since it is decentralised, they couldn't technically impose taxes, and they could only lay tax claims on Fiat exchanges. So if you work for USD and exchange, you have to pay taxes. Just have plain BTC (Not exchanged) and you should probably be fine. But don't quote me on this, since I'm probably missing a lot of laws. Not familiar with the US legal system. |
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defaced
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Franko is Freedom
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July 27, 2014, 09:07:37 PM |
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Forfeit Bitcoins that are inactive for over 5 years to the State of New York - (200.12c)
Think for a minute. Lets say they do implement this. Now how are they going to execute and enforce this? One of the benefits of bitcoin is that it's yours, and you're in full control of it. The fundamentals of bitcoin does not operate within the law and regulation. This is exactly what I was wondering. Unless they have some alien technology with some new form of maths that can crack private keys its safe to say his btc are outside the scope of the ny regulation. |
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AliceWonder
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July 27, 2014, 09:08:09 PM |
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So I can start a service that charges $10 lifetime and sends 5 satoshis to your NY web wallet once a year, thus resulting in activity so it won't be seized. Right?
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Yakamoto
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July 27, 2014, 09:10:24 PM |
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So I can start a service that charges $10 lifetime and sends 5 satoshis to your NY web wallet once a year, thus resulting in activity so it won't be seized. Right?
I believe you can actually do this, assuming the regulation is what I think it says... Prepare for a new industry popping up in the service section! |
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defaced
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Franko is Freedom
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July 27, 2014, 09:10:54 PM |
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So I can start a service that charges $10 lifetime and sends 5 satoshis to your NY web wallet once a year, thus resulting in activity so it won't be seized. Right?
That seems like a pretty good service, but you would have to have a service that signs in to check on those funds i believe. |
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taylortyler (OP)
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July 27, 2014, 09:36:25 PM |
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Forfeit Bitcoins that are inactive for over 5 years to the State of New York - (200.12c)
Think for a minute. Lets say they do implement this. Now how are they going to execute and enforce this? One of the benefits of bitcoin is that it's yours, and you're in full control of it. The fundamentals of bitcoin does not operate within the law and regulation. This is exactly what I was wondering. Unless they have some alien technology with some new form of maths that can crack private keys its safe to say his btc are outside the scope of the ny regulation. I agree that it will be hard if not impossible to confiscate the coins, but it will allow them to potentially bring charges against a number of people or wallet addresses. |
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Meuh6879
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July 27, 2014, 09:42:02 PM |
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Tax evasion will get the owner in jail, which is far from freedom.
i understand pay VAT on merchandising. i don't want pay tax on money ! (it's stupid) |
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Lauda
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Terminated.
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July 27, 2014, 09:43:40 PM |
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Exactly how is a law in NY going to have an affect on me if I'm located in the other part of the world?
Besides, they can't claim the coins no matter what they do.
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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karlb187
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Need To Contact Me? Go To My Site!
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July 27, 2014, 10:55:21 PM |
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NY is always trying to get its hands in everyone's profits  |
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gambian-
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July 27, 2014, 10:58:09 PM |
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Forfeit Bitcoins that are inactive for over 5 years to the State of New York - (200.12c)
Think for a minute. Lets say they do implement this. Now how are they going to execute and enforce this? One of the benefits of bitcoin is that it's yours, and you're in full control of it. The fundamentals of bitcoin does not operate within the law and regulation. Exactly....there's no way to just take or seize bitcoins from someone so easily. It would take quite a process. |
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BTCevo
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July 27, 2014, 11:15:41 PM |
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I can't wait to see where this goes, and how they will try to enforce this regulation, if they succeed I can see other states following suit! But didn't california already pass regulatory laws??
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farlack
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July 27, 2014, 11:29:51 PM |
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taylortyler (OP)
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July 27, 2014, 11:30:31 PM |
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Forfeit Bitcoins that are inactive for over 5 years to the State of New York - (200.12c)
Think for a minute. Lets say they do implement this. Now how are they going to execute and enforce this? One of the benefits of bitcoin is that it's yours, and you're in full control of it. The fundamentals of bitcoin does not operate within the law and regulation. Exactly....there's no way to just take or seize bitcoins from someone so easily. It would take quite a process. But they can put you in jail for violating their laws, if they can link you to a bitcoin address. |
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Ron~Popeil
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July 28, 2014, 02:57:15 AM |
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We can avoid a lot of confusion and FUD if people take the time to read up on this stuff. The original question doesn't even make sense.
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AliceWonder
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July 28, 2014, 03:37:44 AM |
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But they can put you in jail for violating their laws, if they can link you to a bitcoin address.
It's not an address, it's an account at an exchange / web wallet that operates in NY - where the coins technically aren't really yours because you don't have the private key (you have only their word they will spend on your behalf) This has nothing to do with those who manage coins themselves. |
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