live now - Gavin on twist

[Steve]

I just watched a portion of the interview again...genjix, you referred to mtgox.com as an "illegitimate exchange" ...I don't think mtgox.com is illegitimate at all.  I am a customer of mtgox and have not had any problems (and indeed I think MagicalTux is working extremely hard to make the exchange even better).  The only thing that might be illegitimate is a government that would try and shut down such an exchange.  Also, I do not believe mtgox.com is in any violation of US laws, so I'm not sure where you would conclude that it is illegitimate in any regard.  If you can point to some law that mtgox is in violation of, I'm willing to be corrected (btw, there are plenty of other exchanges trading in various other goods and digital currencies).  I'm sure it was probably an off the cuff statement that you didn't give much thought to, but words have meaning and in a setting like that, it could be very damaging.

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[xf2_org]

I just watched a portion of the interview again...genjix, you referred to mtgox.com as an "illegitimate exchange" ...I don't think mtgox.com is illegitimate at all.  I am a customer of mtgox and have not had any problems (and indeed I think MagicalTux is working extremely hard to make the exchange even better).  The only thing that might be illegitimate is a government that would try and shut down such an exchange.  Also, I do not believe mtgox.com is in any violation of US laws, so I'm not sure where you would conclude that it is illegitimate in any regard.  If you can point to some law that mtgox is in violation of, I'm willing to be corrected (btw, there are plenty of other exchanges trading in various other goods and digital currencies).  I'm sure it was probably an off the cuff statement that you didn't give much thought to, but words have meaning and in a setting like that, it could be very damaging.

+1 agreed

[xf2_org]

In fact opening a Bitcoin exchange in the USA (legal) is near impossible.

Bullshit.

[genjix]

If you are a US company, operating a US exchange then there is an incredible amount of laws that you must abide by that makes it near impossible due to the huge initial expense.

[jed]

It isn't impossible at all. It is just expensive. You would have to get VC money. You basically need to do what dwolla, paypal, paysimple, etc etc all do.

[river]

It isn't impossible at all. It is just expensive. You would have to get VC money. You basically need to do what dwolla, paypal, paysimple, etc etc all do.

Actually .. with the possible exception of Dwolla (I don't know anything about them) the rest will all lock/cancel your account for violation of terms (made up or not) .. so yes .. it is impossible in the general North America area.