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Author Topic: [2014-10-01] CD: FinCEN Director: We’re Not Out to Villainize Bitcoin  (Read 2007 times)
LiteCoinGuy
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October 01, 2014, 02:40:35 PM
 #1

FinCEN Director: We’re Not Out to Villainize Bitcoin

The Financial Crimes Enforcement Network (FinCEN) has been to date one of the most active – and more controversial – US federal agencies to address the bitcoin ecosystem, doing so through a number of published rulings aiming to provide clarity to the industry.

http://www.coindesk.com/fincen-director-villainize-bitcoin/

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BitDreams
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October 02, 2014, 10:09:47 AM
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"Calvery indicated that FinCEN is currently researching ring signatures, a cryptographic signature in which an action is attributed only to a group, and tumblers, a type of mixing service meant to hide where transactions originate."

My feeling is that ultimately the community and the ISP who provides the onramp to the internet is the best actor to know the customer. What is legal in one community may be illegal in another so federal or international regulators have to accommodate and respect local laws and customs. If a community chooses to protect the privacy of a local bitcoin user the fed should have to honor that request. This will grant power to local governments and I'm not sure if the Fed's are going to like that.
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October 02, 2014, 10:24:34 AM
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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October 02, 2014, 11:20:30 AM
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Is bashing brains in legal in your community?
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October 02, 2014, 11:27:28 AM
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Is bashing brains in legal in your community?

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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October 02, 2014, 12:35:37 PM
 #6

this guy at innertribe is hitting the nail on the head!
https://www.youtube.com/watch?v=06wUSPCoRpg&list=PL8ucbgLbIE-sR9U17GuJF8RZChrUWySl_&index=4
afternoon closing also very nice https://www.youtube.com/watch?v=KsJHh_Jv53k&list=PL8ucbgLbIE-sR9U17GuJF8RZChrUWySl_&index=5
https://www.youtube.com/watch?v=u7Klh5kfC-8&list=PL8ucbgLbIE-sR9U17GuJF8RZChrUWySl_&index=6

https://www.youtube.com/watch?v=G-1k5m0QQIQ&list=PL8ucbgLbIE-sR9U17GuJF8RZChrUWySl_&index=8

https://www.youtube.com/watch?v=HKdGi06cj8I&list=PL8ucbgLbIE-sR9U17GuJF8RZChrUWySl_&index=9



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aigeezer
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October 02, 2014, 01:11:16 PM
 #7

“We don’t start at a product and villainize a product, we villainize the bad actors and find out what they’re doing with their money.” (FinCEN director Jennifer Calvery)

Think about that.

"Bad actors".

"We villainize the bad actors".

Will Jennifer label you a bad actor, villainize you and find out what you are doing with your money? Time will tell.



cbeast
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Let's talk governance, lipstick, and pigs.


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October 02, 2014, 02:24:31 PM
 #8

Another bureaucrat drunk with power.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
BitDreams
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October 02, 2014, 04:45:05 PM
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Ha! I tossed a joke right back at you I did! Wink
cbeast
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October 02, 2014, 05:38:32 PM
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Ha! I tossed a joke right back at you I did! Wink
touché

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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October 03, 2014, 02:40:21 AM
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Can we first identify  "bad actors" in the Federal Reserve?
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October 03, 2014, 12:57:04 PM
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Can we first identify  "bad actors" in the Federal Reserve?

Heh. Probably not - they are superb actors. For example, they act as though they know how to run the world's largest economy better than the millions of people who actually make it run. They act as though they know what the value of every person's money should be. They act as though they know what interest rate each person in the world should pay or receive. They act as though they know that inflation is a good thing, that a particular rate of inflation is optimal for all, and that they can make it happen. They act as though they know that deflation (lower prices) is a terrible thing for all. On and on. That is acting at its finest.              Wink

Couldn't resist, but of course I get your point. Jennifer will choose her "bad actors" according to some agenda or other. In the first round, it will be targets that get no public sympathy - play the kiddie porn card. In later rounds it will be - who knows? Societies have gone down this path before. It never ends well.
 
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October 20, 2014, 09:38:50 PM
 #13

If anything, law can be decentralized for the same reasons there are juries of peers.
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