Vote: Fix the BitLicense

[LiteCoinGuy]

Fix the BitLicense

http://www.fixthebitlicense.org/

[p2pbucks]

does lawsky really care about what bitcoiners think ?  i doubt that   

[Painful Truth]

does lawsky really care about what bitcoiners think ?  i doubt that   

He might have to, if he doesn't want to exclude the US from the BTC Economy. Talent and innovation will move overseas.

We'll see how it plays out. 

[colinistheman]

He sounds like he cares. You should listen to this:

Aug. 7, 2014: Superintendent Lawsky, Billy Easton and David Sciarra, Stephen Shafer, Randy Credico
http://www.wcny.org/cpr080714/

It is Ben Lawsky speaking, himself on the subject. He doesn't sound overly ill-intentioned and sounds open to making it work. Whether that is his true agenda I am not sure (I have my doubts because actions speak louder than words and so far his actions have been threatening harm in the name of good). He is a regulator so to me he is already in the "up to no good" box.

But still, interesting to hear it from him, himself.

[keithers]

our vote on this matter won't really count for anything.   That is the beauty of the United States "democracy."   You get to vote on issues that don't really matter, so it gives off the illusion of having a voice. 

[moriartybitcoin]

there will be more of this kind of 'regulation' coming .. which is a thinly-veiled attempt to allow coinbase and circle to create a monopoly. Only the big companies can afford to 'play by the rules'

[Ron~Popeil]

there will be more of this kind of 'regulation' coming .. which is a thinly-veiled attempt to allow coinbase and circle to create a monopoly. Only the big companies can afford to 'play by the rules'

I see it the same way. Another give away to the banking industry. Small businesses can't compete with the hyper regulatory environment in New York. Hopefully other states either leave it alone or do something less damaging to the small business sector. 

[nutildah]

there will be more of this kind of 'regulation' coming .. which is a thinly-veiled attempt to allow coinbase and circle to create a monopoly. Only the big companies can afford to 'play by the rules'

Anybody else done with Coinbase completely? I can't believe they are pre-emptively collecting personal information on users ahead of legislation time, just to show Wall Street they are corporate suits first and foremost.

What needs to be regulated is THEFT and other already-illegal activities. If somebody gets scammed out of $$ trying to buy BTC with a credit card, we already have laws in place to prosecute the scammer. Its just that there's no resources to do this right now. We don't need legislation governing bitcoin to deal with this obvious a problem, we need better enforcement of our pre-existing laws.

[Velkro]

Fix the BitLicense

http://www.fixthebitlicense.org/

who cares about some "license" that some people in some small state or city want to push? They are nothing, bitcoin is global

[nutildah]

Fix the BitLicense

http://www.fixthebitlicense.org/

who cares about some "license" that some people in some small state or city want to push? They are nothing, bitcoin is global

Yeah tell that to Coinbase, one of the biggest bitcoin vendors in the world. They are already fully-compliant with the legislation, which hasn't even been passed into law yet.

[keithers]

Fix the BitLicense

http://www.fixthebitlicense.org/

who cares about some "license" that some people in some small state or city want to push? They are nothing, bitcoin is global

Yeah tell that to Coinbase, one of the biggest bitcoin vendors in the world. They are already fully-compliant with the legislation, which hasn't even been passed into law yet.

I mentioned this before, but my money is on Coinbase being the first Bitcoin company to start issuing 1099s to their users...

[raganius]

does lawsky really care about what bitcoiners think ?  i doubt that  

Bingo. And IMO we cryptocoiners should not care about what regulators think. The obvious thing here is that they are starting a fight that's impossible for them to win: what are their intention, to outlaw maths?

We can be sure that the Bitcoin is much stronger and don't really depend on them. If Governments bring abusive regulations on, they will be shooting their own feet, for investors, tax payers, and employment creators will simply avoid that specific state/country/city and will always choose BTC friendly places.

Unless we are too desperate about short term USD/BTC prices we should just let them make their mess... tant pis pour eux

[LiteCoinGuy]

some exchanges will comply, some will not. and another interesting part is, to watch the competition between countries when it comes to BTC regulation.

money is more liquid than it was ever before since there is bitcoin.


@nutildah

you are wrong. i saved your day 

[nutildah]

The regulators will win, they will make money off bitcoin regulation, and the utility of bitcoin will be destroyed.

This is why the price continues to drop despite the millions of dollars of fiat being poured into bitcoin startup ventures.

Please God or somebody else prove me wrong.

[nutildah]

@nutildah

you are wrong. i saved your day  

errr did you edit this into your last post?

have you checked the price of BTC lately?

OK markets, I take it back, BTC will still have value independent of the U.S. decision to regulate it! You forgot about foreign markets! Also its harder to get now that Coinbase requires additional user info to purchase.

In time cryptocurrencies of all types will be adopted en masse, filling much-needed moneysaving niches worldwide.

The power of bitcoin's utility to mankind is limited only by the power of our own imaginations!!

[jbreher]

They are already fully-compliant with the legislation, which hasn't even been passed into law yet.

Don't confuse regulation with legislation.

[CharHill]

does lawsky really care about what bitcoiners think ?  i doubt that   

He might have to, if he doesn't want to exclude the US from the BTC Economy. Talent and innovation will move overseas.

We'll see how it plays out. 

I don't believe, that this man can to change a position of US in btc economy. But i hope, that he will to do that in small countries.

[dquancey]

I've signed it, whatever little it helps.

Like others have said, NYC can push whatever they like through, just means it'll set the US BTC companies back a little.

[NewLiberty]

Is this "fix" like the NYC slang?
Guido da plumber gonna go fix them iffn day don pay.

That may be the only way to "fix" this.  It is broken in so many ways.

[rocks]

They are already fully-compliant with the legislation, which hasn't even been passed into law yet.

Don't confuse regulation with legislation.

They are only different in HOW the come into being.

They are identical in what they are and the force behind them. It does not matter if it is a regulation or legislative law, if you do not follow either men with guns come and take your possessions, take your children and throw you in jail.