Draft media release for community consultation
CryptoCurrency Association Condemns Canadian Government's bitcoin approach
The WhiteCoin Foundation must express its deep concern at the Canadian Government's recent moves regarding bitcoin. These provisions hidden deep within Bill C-31 are being implemented without consulting the industry they impact. This sends a clear message to an industry that holds great potential to Canadian Tech markets: your needs don't matter to us.
Chris Salsman, President of the WhiteCoin Foundation, feels this signals the Harper Government's lack of competency when it comes to bitcoin.
"I think it demonstrates how misinformed they are. There was no public discussion. No consultation with industry partners. We're looking for Canada to be a leader in welcoming cryptocurrency as a viable alternative for online value transfer. But this move demonstrates very clearly that the health of the cryptocurrency industry in Canada is irrelevant to the government. They're stuck in an old mindset, implying bitcoin is only used for money laundering when nothing could be further from the truth."
The WhiteCoin Foundation believes money laundering is of serious concern to the industry, and should in fact be made more difficult by the transparent nature of cryptocurrency's fundamental concepts. Had the industry been consulted, their efforts could have been bolstered. But by excluding industry from the process they risk sending a chill through the markets, and chasing away investors.
Mr. Salsman believes this short sighted approach needs to change.
"Cryptocurrency holds great potential for the Canadian economy, our industry is desperate for skilled technical labour. But if this trend of non-discussion continues we'll see all this potential business move offshore like in so many other cases. Why they haven't considered that remains an open question."
For further information please contact:
[insert information here]
Topic: [ANN] (WC) | WhiteCoin | BIG NEWS: Foundation, investors & more ☯ whitecoin.info - page 90. (Read 759214 times)
June 24, 2014, 07:09:57 PM
June 24, 2014, 06:39:31 PM
Time to leave 100SAT level thinking and start doing it better.
I couldn't agree more but talk is cheap and getting registered is a maybe and not a guarantee. So, it is a free market. Is it possible to buy market cap loss warranty?
As you can see this is where foundation can split insurance costs per registered members.
Without foundation it is kinda difficult.
Marketcap loss warranty or insurance on price? That gets into some very heavy financial stuff for sure. I'm not sure if such protection exists, in this type of unstable environment it would take some heavy hedging to be able to offer that. But, to generalize, yes, there are things now that the whitecoin foundation will be able to do, that other coins won't.
June 24, 2014, 06:07:27 PM
Time to leave 100SAT level thinking and start doing it better.
I couldn't agree more but talk is cheap and getting registered is a maybe and not a guarantee. So, it is a free market. Is it possible to buy market cap loss warranty?
As you can see this is where foundation can split insurance costs per registered members.
Without foundation it is kinda difficult.
June 24, 2014, 06:04:34 PM
Actually, this a milestone in digital currency, not something to be taken lightly.
Ever heard of Emunie? it has been registered for a while now as a legal entity it is no milestone at all. so yeh, no milestone and no big deal to be honest.
http://companies.findthebest.co.uk/l/1006482/Emunie-Ltd-in-London-United-Kingdom
http://www.companysearchesmadesimple.com/company/uk/08857374/emunie-ltd/
WC is only about 6 months behind being a milestone and it hasn't been approved, just a request which can be easily be rejected.
Emunie is a company, we are an association, there is a very big difference between the two.
And as has been indicated, we've been consulting with government departments and officials to help ensure we are not rejected in our application. That's why this is worth note. I could have submitted a name reservation a month ago without spending the time to do the research, which would have started our 90 day operations window then, but that's not what I did.
As soon as the name comes back as reserved, we'll be able to legitimately operate as an association called The WhiteCoin Foundation. We would not have been able to submit that request had the clerks responsible for handling our submission not believed we were meeting all criteria.
This is how we form the basis of who and what we are: a coin that is truly managed, operated, and maintained by its community.
Well time will tell I guess. I constantly keep myself updated in this thread with all this news and will continue to ask questions most here seem to not want to do. Do you not think it was premature to ask the community to buy more WC when nothing is set in stone yet?
Just to clarify, I think you may be misunderstanding. Our request being accepted for name reservation at this juncture is due to the people responsible for approving or rejecting our application believing we have met the necessary criteria. Again I stress, the only thing that will prevent us from moving forward as a registered entity is if 48 hours from now it turns out another WhiteCoin Foundation decided to register somewhere in Canada.
June 24, 2014, 05:58:11 PM
Actually, this a milestone in digital currency, not something to be taken lightly.
Ever heard of Emunie? it has been registered for a while now as a legal entity it is no milestone at all. so yeh, no milestone and no big deal to be honest.
http://companies.findthebest.co.uk/l/1006482/Emunie-Ltd-in-London-United-Kingdom
http://www.companysearchesmadesimple.com/company/uk/08857374/emunie-ltd/
WC is only about 6 months behind being a milestone and it hasn't been approved, just a request which can easily be rejected.
I'm glad you pointed them out, no doubt if you made this connection others will think similar too. I checked them out and want to make sure our investors, members etc know the difference.
I'm very excited for whats been done, and whats being done right now. Kestrel71, if you can help WhiteCoin community out, please let us know!
June 24, 2014, 05:57:45 PM
Actually, this a milestone in digital currency, not something to be taken lightly.
Ever heard of Emunie? it has been registered for a while now as a legal entity it is no milestone at all. so yeh, no milestone and no big deal to be honest.
http://companies.findthebest.co.uk/l/1006482/Emunie-Ltd-in-London-United-Kingdom
http://www.companysearchesmadesimple.com/company/uk/08857374/emunie-ltd/
WC is only about 6 months behind being a milestone and it hasn't been approved, just a request which can be easily be rejected.
Emunie is a company, we are an association, there is a very big difference between the two.
And as has been indicated, we've been consulting with government departments and officials to help ensure we are not rejected in our application. That's why this is worth note. I could have submitted a name reservation a month ago without spending the time to do the research, which would have started our 90 day operations window then, but that's not what I did.
As soon as the name comes back as reserved, we'll be able to legitimately operate as an association called The WhiteCoin Foundation. We would not have been able to submit that request had the clerks responsible for handling our submission not believed we were meeting all criteria.
This is how we form the basis of who and what we are: a coin that is truly managed, operated, and maintained by its community.
Well time will tell I guess. I constantly keep myself updated in this thread with all this news and will continue to ask questions most here seem to not want to do. Do you not think it was premature to ask the community to buy more WC when nothing is set in stone yet?
June 24, 2014, 05:50:30 PM
Time to leave 100SAT level thinking and start doing it better.
I couldn't agree more but talk is cheap and getting registered is a maybe and not a guarantee. June 24, 2014, 05:47:29 PM
Actually, this a milestone in digital currency, not something to be taken lightly.
Ever heard of Emunie? it has been registered for a while now as a legal entity it is no milestone at all. so yeh, no milestone and no big deal to be honest.
http://companies.findthebest.co.uk/l/1006482/Emunie-Ltd-in-London-United-Kingdom
http://www.companysearchesmadesimple.com/company/uk/08857374/emunie-ltd/
WC is only about 6 months behind being a milestone and it hasn't been approved, just a request which can be easily be rejected.
Emunie is a company, we are an association, there is a very big difference between the two.
And as has been indicated, we've been consulting with government departments and officials to help ensure we are not rejected in our application. That's why this is worth note. I could have submitted a name reservation a month ago without spending the time to do the research, which would have started our 90 day operations window then, but that's not what I did.
As soon as the name comes back as reserved, we'll be able to legitimately operate as an association called The WhiteCoin Foundation. We would not have been able to submit that request had the clerks responsible for handling our submission not believed we were meeting all criteria.
This is how we form the basis of who and what we are: a coin that is truly managed, operated, and maintained by its community.
June 24, 2014, 05:44:29 PM
Sounds to me like filing a patent. Having the patent filed is the key... it takes years to approve the patent, but patent protection goes back to the fililing date. Not sure what Canada's timing is. But with the most recent legislation, the timing is PERFECT.
I admire your persistence in defending the devs actions but anyone can put in a request yes? It is not that big a deal that I would start telling people to buy WC up though like mongonzo did earlier.Maybe it is not a big deal, but in real life this is the first step to be recognized.
Second step should be B2B support, as it is usually required.
This may be hard for many, but we are not the target anymore.
We need investors and what they need is our priority.
Time to leave 100SAT level thinking and start doing it better.
June 24, 2014, 05:25:40 PM
Actually, this a milestone in digital currency, not something to be taken lightly.
Ever heard of Emunie? it has been registered for a while now as a legal entity it is no milestone at all. so yeh, no milestone and no big deal to be honest.
http://companies.findthebest.co.uk/l/1006482/Emunie-Ltd-in-London-United-Kingdom
http://www.companysearchesmadesimple.com/company/uk/08857374/emunie-ltd/
WC is only about 6 months behind being a milestone and it hasn't been approved, just a request which can easily be rejected.
June 24, 2014, 05:25:06 PM
I say, hats off to the Foundation, slow and steady wins the race....
+100
June 24, 2014, 05:21:14 PM
Sounds to me like filing a patent. Having the patent filed is the key... it takes years to approve the patent, but patent protection goes back to the fililing date. Not sure what Canada's timing is. But with the most recent legislation, the timing is PERFECT.
I admire your persistence in defending the devs actions but anyone can put in a request yes? It is not that big a deal that I would start telling people to buy WC up though like mongonzo did earlier.In time, it will become very clear how different this makes us from other coins. It puts us in a very exclusive league.
Actually, this a milestone in digital currency, not something to be taken lightly. The appearance of legitimacy and actually being in the process are two very different things. This is the kind of thing traditional investors and those on the outside are looking for. I say, hats off to the Foundation, slow and steady wins the race....
Couldn't agree more, super stoked as this not only helps legitimize WC/WCF it will help with crypto in general. It will also bring more confidence to investors (current, future and non crypto), merchants and business looking to invest in WC, WC network and more
Steady, Stable and Secure June 24, 2014, 04:54:27 PM
Sounds to me like filing a patent. Having the patent filed is the key... it takes years to approve the patent, but patent protection goes back to the fililing date. Not sure what Canada's timing is. But with the most recent legislation, the timing is PERFECT.
I admire your persistence in defending the devs actions but anyone can put in a request yes? It is not that big a deal that I would start telling people to buy WC up though like mongonzo did earlier.In time, it will become very clear how different this makes us from other coins. It puts us in a very exclusive league.
Actually, this a milestone in digital currency, not something to be taken lightly. The appearance of legitimacy and actually being in the process are two very different things. This is the kind of thing traditional investors and those on the outside are looking for. I say, hats off to the Foundation, slow and steady wins the race....
+1
June 24, 2014, 04:41:48 PM
Sounds to me like filing a patent. Having the patent filed is the key... it takes years to approve the patent, but patent protection goes back to the fililing date. Not sure what Canada's timing is. But with the most recent legislation, the timing is PERFECT.
I admire your persistence in defending the devs actions but anyone can put in a request yes? It is not that big a deal that I would start telling people to buy WC up though like mongonzo did earlier.In time, it will become very clear how different this makes us from other coins. It puts us in a very exclusive league.
Actually, this a milestone in digital currency, not something to be taken lightly. The appearance of legitimacy and actually being in the process are two very different things. This is the kind of thing traditional investors and those on the outside are looking for. I say, hats off to the Foundation, slow and steady wins the race....
June 24, 2014, 03:13:42 PM
Sounds to me like filing a patent. Having the patent filed is the key... it takes years to approve the patent, but patent protection goes back to the fililing date. Not sure what Canada's timing is. But with the most recent legislation, the timing is PERFECT.
I admire your persistence in defending the devs actions but anyone can put in a request yes? It is not that big a deal that I would start telling people to buy WC up though like mongonzo did earlier.I disagree. It took us a great deal of research, effort, and communication with government to ensure we were registering under the correct legislation. That we were able to get response from government at all on this is significant.
You're right, anyone could reserve a name. But would that reservation hold up under scrutiny? Would the request be denied? Did the person submitting ensure we met all requirements?
If we weren't going to get positive answers regarding this, it would be disastrous for us down the road. Imagine if we were to begin operations, but then 90 days later it turns out "oh you can't use that name, and you can't operate here."
In time, it will become very clear how different this makes us from other coins. It puts us in a very exclusive league.
June 24, 2014, 03:06:45 PM
Sounds to me like filing a patent. Having the patent filed is the key... it takes years to approve the patent, but patent protection goes back to the fililing date. Not sure what Canada's timing is. But with the most recent legislation, the timing is PERFECT.
I admire your persistence in defending the devs actions but anyone can put in a request yes? It is not that big a deal that I would start telling people to buy WC up though like mongonzo did earlier. June 24, 2014, 03:03:03 PM
we are pleased to announce that we have submitted a formal request to reserve the name "The WhiteCoin Foundation" to the Government of Nova Scotia, Canada.
And that is the big happy news? So nothing solid then other than you put in a request.....ok.Sounds to me like filing a patent. Having the patent filed is the key... it takes years to approve the patent, but patent protection goes back to the fililing date. Not sure what Canada's timing is. But with the most recent legislation, the timing is PERFECT.
June 24, 2014, 03:00:00 PM
we are pleased to announce that we have submitted a formal request to reserve the name "The WhiteCoin Foundation" to the Government of Nova Scotia, Canada.
And that is the big happy news? So nothing solid then other than you put in a request to reserve a name.....ok. June 24, 2014, 02:25:31 PM
Hello WhiteCoiners!
Today marks a very important milestone in the history of our community. After hundreds of hours of research, phone meetings, community debate, and legal consultations, we are pleased to announce that we have submitted a formal request to reserve the name "The WhiteCoin Foundation" to the Government of Nova Scotia, Canada. This is the first and most important official step in our registration.
Many have asked what the benefit of registration is, and the answer is simple: legitimacy.
To the media -and most importantly the public- we are no longer simply a virtual group of enthusiasts. We've set ourselves apart from the many coins run by groups accountable to no one. The financial markets of the world have been watching and waiting for a group to come forward who is willing to engage with them on terms they can understand. WhiteCoin now stands apart as one of the few actively seeking users outside of crypto spheres on a grand scale.
The Media is desperate for qualified commentators who can speak on the record about our industry, and now WhiteCoin can provide this for them. For example, yesterday the Canadian Government passed legislation that directly impacts us, and they did this without engaging with our industry at all. That is completely unacceptable. But our community must also provide credible avenues for governments to engage with us. WhiteCoin has now solidified itself as one of the few who can.
As a Foundation, we'll be required to:
As a Foundation, we'll be able to easily:
Our industry has taken a stance against unneeded government interference. But this stance can only hold if we can successfully engage with the people who wield power over financial & internet regulations. Considering our community's known willingness to work with others, it's only a matter of time until The WhiteCoin Foudnation is looked to as not just a representative of WhiteCoin, but our entire industry.
Best Regards,
Chris Salsman
Acting President
The WhiteCoin Foundation
Today marks a very important milestone in the history of our community. After hundreds of hours of research, phone meetings, community debate, and legal consultations, we are pleased to announce that we have submitted a formal request to reserve the name "The WhiteCoin Foundation" to the Government of Nova Scotia, Canada. This is the first and most important official step in our registration.
Many have asked what the benefit of registration is, and the answer is simple: legitimacy.
To the media -and most importantly the public- we are no longer simply a virtual group of enthusiasts. We've set ourselves apart from the many coins run by groups accountable to no one. The financial markets of the world have been watching and waiting for a group to come forward who is willing to engage with them on terms they can understand. WhiteCoin now stands apart as one of the few actively seeking users outside of crypto spheres on a grand scale.
The Media is desperate for qualified commentators who can speak on the record about our industry, and now WhiteCoin can provide this for them. For example, yesterday the Canadian Government passed legislation that directly impacts us, and they did this without engaging with our industry at all. That is completely unacceptable. But our community must also provide credible avenues for governments to engage with us. WhiteCoin has now solidified itself as one of the few who can.
As a Foundation, we'll be required to:
- Hold an Annual General Meeting (that's right, an annual WhiteCoin crypto conference!)
- Be accountable to our membership via an official set of internal bylaws
- Demonstrate access to $50,000 CDN in yearly funding or assets within 90 days
As a Foundation, we'll be able to easily:
- Form regional chapters
- Engage with our members via a process they can understand and that does not slow operations
- Engage with the media
- Engage with governments
- Engage with businesses
- Engage with fiat investors who are new to crypto
Our industry has taken a stance against unneeded government interference. But this stance can only hold if we can successfully engage with the people who wield power over financial & internet regulations. Considering our community's known willingness to work with others, it's only a matter of time until The WhiteCoin Foudnation is looked to as not just a representative of WhiteCoin, but our entire industry.
Best Regards,
Chris Salsman
Acting President
The WhiteCoin Foundation
Great news ! #Wcf - best community & dev's ever
June 24, 2014, 02:16:44 PM
With all this in mind, I'd like to propose that we should comment on The Canadian Government's legislation from yesterday.
In my own opinion, I think the most important thing we could do is hold them to account for creating this legislation without at least seeking public comment from industry players. Instead this legislation was rammed through quietly as part of a massive omnibus budget bill. This robbed everyone of the time necessary to properly consider the best approach.
I'm going to post a draft release here tonight, but I would ask if anyone else has thoughts on yesterday's development, you can read more about it here:
http://www.coindesk.com/canadas-new-regulations-mean-bitcoin-businesses/
As most of you know, in the real world I work as a communications consultant, once this release is prepared and we have a general OK from the community, I intend to fire it out to all of my Canadian media contacts.
In my own opinion, I think the most important thing we could do is hold them to account for creating this legislation without at least seeking public comment from industry players. Instead this legislation was rammed through quietly as part of a massive omnibus budget bill. This robbed everyone of the time necessary to properly consider the best approach.
I'm going to post a draft release here tonight, but I would ask if anyone else has thoughts on yesterday's development, you can read more about it here:
http://www.coindesk.com/canadas-new-regulations-mean-bitcoin-businesses/
As most of you know, in the real world I work as a communications consultant, once this release is prepared and we have a general OK from the community, I intend to fire it out to all of my Canadian media contacts.
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