Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 4824. (Read 9723776 times)

So I'm naive and immature because I am not paranoid or feel the need to hide in the shadows?  You're naive for thinking that the United States government wouldn't and couldn't shut down some altcoin called Darkcoin if they thought it was being used to facilitate financial transfers to those deemed as enemies.

Please continue with the insults and name calling instead of actually addressing some of the valid points I have made regarding government and it's capabilities to shut down an anonymous cryptocurrency if it is deemed to be used for purposes not in the best interests of the United States.

Masternode does not transmit (= receive and send) coins.

As long as it doesn't mean I have to serve the drinks at promotions rather than consume them  

I don't know what so hard to understand.  They shut down Silk Road.  Seized the guys bitcoin, auctioned it off, and the guy is sitting in jail looking at spending the next couple decades in a Federal prison.  The only reason they didn't go after Bitcoin was because they needed it to build their case due to the fact that they could track the transactions on the blockchain.  If you take that ability away you are putting yourself in a position to be deemed as a threat.  An anonymous cryptocurrency can never be regulated like cash due to it's main purpose.  Bank records can be opened by subpoena.  How do you subpoena something that doesn't exist like anonymous transactions?  

If anyone thinks that the United States government isn't capable of shutting down a cryptocurrency they are mistaken.


Feds Use Patriot Act To Crack Down On Virtual Currency Exchange
http://americasfuture.org/feds-use-patriot-act-to-crack-down-on-virtual-currency-exchange/

http://www.wmitchell.edu/lawreview/Volume40/documents/Middlebrook.pdf

FinCEN acknowledges that the third-party exchange might appear to be conducting a bona fide purchase and thus entitled to an exemption, but notes that the safe harbor
does not apply when the only service being provided is money transmission

What does a masternode do other than transmit Darkcoin?  

An administrator or an exchange that transmits convertible virtual currency to another person or location would be required to register as an MSB.

“An administrator or exchanger that (1) accepts and transmits a convertible virtual currency or (2) buys or sells convertible virtual currency,” however, is a money transmitter unless an exemption
applies.102

It appears that FinCEN is fine with masternode operation as long as the administrator registers as an MSB.

How many masternode operators are registered as an MSB?

Thx toknormal for your clarity.

Thats because Dark is the only one with a chance to make mainstream. So we talk about real world issues.

All the other coins = ZOMMGGG look at this feature list, we are going to develop it in 2 weeks and blow everything out of the water etc...pump dump rinse repeat.

You spend a lot of time on the thread of a coin you don't like.

ok.

To the moon, then infinity and beyond. 

I'm so glad we promoted you to Chief Investment Officer.

Didn't we? Come on chaps, make it so.

These regulatory discussions are always showing up in DRK thread.

It is never found in any other so-called anonymous coins.

Hmmm  

And FUD is getting old and weary folks. Please move on.

Shojayxt likes nothing more than a big truncheon up his arse, he has a thing for men in uniforms. And there's nothing wrong with that, it's his combination of innate subservience with truly baffling stupidity that inspires mirth and pity...  

You don't seem to have fully grasped the implications of cryptocurrency on the "regulatory environment".

There are no counterparties in crypto = so no regulation possible. END. OF. STORY.

Sure they can stop retailers from quoting prices in one cryptocurrency over another, but that's regulating retailing not crypto. Also, one you've allowed one in the door thats the thin end of the wedge because as we all know, all cryptos are readily interchangeable once your holdings are on a blockchain of any flavour.

Regulators do not understand this (understandibly). They live in a world where everything works by counterparties - everything you "own" is registered somewhere. But you do not "own" bitcoin so you cannot possibly be regulated based on that ownership. All you have is a bunch of letters that lets you control an address - that isn't ownership in any classic sense because anybody could theoretically control that address.

Put another way, a bitcoin address hasn't got your name on it as would be required to establish ownership. You've got its name on a piece of paper which means that theoretically, 7.046 Billion other people could have as well with equivalent entitlement as fas as the term "ownership" goes.

Another this regarding your quote:


Cash can only be regulated because it ultimately ends up in a bank - hence counterparties again. At least, it needs to end up in a bank for it to be of much use for anything other than buying chewing gum or paying off hitmen.

Cryptocurrencies on the other hand do not end up in a bank and, again, lack any counterparty involvement, so no regulation possible. The idea that opaque blockchains and transparent blockchains are any different in this respect doesn't get you very far because both are as much of a threat to the mainstream banking system.

You know what the threat is ? It's nothing to do with "dark currencies". It's the fact that crypto is unlevered base money whereas fiat is highly levered credit money.

Thats the real reason authorities are petrified, not laundering. Economics not criminality.

Little edit needed there. Getting a bit carried away with the 'Royal We.'  Next, I'll be in the bar telling some hot chick how I'm coding the next big thing since Bitcoin.

Use 3days
http://scr.hu/1ame/xcxqn
after red comes green right ?

Hi,

this video his cool (https://www.youtube.com/watch?v=M7bbDpwlTws&feature=youtu.be&t=11m48s)
Just for American...
A few countries have allowed Bitcoins and some have fordidden.
Watch the world !

DRK coin could still stay black today, no?

best regards,

Actually Iceland has one of the strongest internet privacy regulations, there is a browser in beta (called Icebrowser) that channels all traffic through Iceland and encrypting everything giving everyone in the world the same rights as Icelanders on the Internet. Kindof cool just saw this today.

http://finance.yahoo.com/news/introduction-icebrowser-ushers-era-internet-123000740.html

Quote:
Iceland places an exceptionally strong emphasis on privacy rights, such that what is now commonplace in the U.S. and parts of Europe would be unthinkable there.

.. If anyone wants to host a MN in Iceland then I managed to convince a company to accept DRK for VPS rent 
http://www.flokinet.is/

People make stupid statements to think they dont need privacy and anonymity for bitcoin because the use case for it right now is still quite limited. Those statements made by Shojayxt show how naive and immature his thinking is. "ohh I can purchase stuff now and its all fine"....what you dont realise is that we are still in a very early adoption phase. Would you be OK if someone today could look up your bank account number and see every transaction you have ever made in the past, link that to businesses and how much money you have?

Once btc becomes more mainstream there will be a big opportunity (and its already started) to scrape and data mine addresses for the purpose of marketing & selling that information.  - you can bet your left ass cheek that bitcoin is going to have a SERIOUS privacy issue on its hands.

So, he's saying regulate more like cash. So, you agree, we are creating eCash.

You also have to agree, its regulation, not ban. Read the context again. Just in case you missed the meaning of what you were posting.

Man, when you get this, I can see you going out and selling everything you own to buy as much DRK as possible.

No, Coinjoin is still there.  Coinjoin mixes would happen simultaneously across the network at scheduled intervals.  I don't yet have the specifics on how he intends to do that, but broadly speaking:

At x time or x block, everyone sends their unmixed coins to whichever MN is elected for mixing (this happens automatically in the background).  They're mixed and returned in homogeneous denominations to wherever they came from (at random addresses).

Do you doubt that the United States government wouldn't pull the plug.  The person that enforces the law isn't the person making the laws so her opinion doesn't mean too much. She'll enforce whatever law is in place whether she agrees with it or not.

http://www.fincen.gov/news_room/testimony/html/20140220.html

On the virtual currency front, with all we have seen transpire this past year; it is clear that the virtual currency industry has reached a crossroads. I think we can all agree that the stakes are too high – for both the industry and the government – to allow virtual currency systems to be used by bad actors. FinCEN will continue to draw from the knowledge we have gained through our regulatory efforts, use of targeted financial measures, analysis of the financial intelligence we collect, independent study of virtual currency, outreach to industry, and collaboration with our many partners in law enforcement to protect the integrity and transparency of the U.S. financial system.




PREPARED REMARKS OF JENNIFER SHASKY CALVERY DIRECTOR FINANCIAL CRIMES ENFORCEMENT NETWORK
http://www.fincen.gov/news_room/speech/pdf/20140318.pdf

What is important is that financial institutions that deal in virtual currency put effective anti-money
laundering and counter terrorist financing (AML/CFT) controls in place to harden themselves
from becoming the targets of illicit actors that would exploit any identified vulnerabilities.




Jennifers boss doesn't necessarily share Jennifers views on cryptocurrency.

Just this morning, David Cohen, the Under Secretary for Terrorism and Financial
Intelligence at the U.S. Department of the Treasury – and my boss – delivered remarks on virtual
currency at an event in New York City, where he made a compelling case for transparency and
regulation in the virtual currency space.

However, if levels of adoption increase more
significantly, and if it appears that daily financial life can be conducted for long stretches
completely within a virtual currency environment, we may need to consider whether to apply a
more “cash-like” regulation to the virtual currency space.

This guy isn't the county Sheriff and it's people like him that will set the policy not Jennifer Shasky Calvery.