Here is a very interesting bill that was introduced in New Hampshire last month.
In January, New Hampshire State Rep. Eric Schleien (R) introduced HB 552, a bill that would implement a plan for the state to accept bitcoin as payment for taxes and fees by mid-2017. The bill was introduced with 7 bipartisan co-sponsors. Last week it made progress when the Ways and Means Committee announced it will hold a public hearing on this bill on Thursday, February 12.
There is also another bitcoin related bill in the NH legislature, HB 356, which would exempt “persons using private virtual currencies for Internet commerce from the licensing requirements for money transmitters.” HB 356 only has 3 Republican co-sponsors, and the committee of jurisdiction (House Commerce and Consumer Affairs Committee) has not made any plans to move this bill forward.
http://www.gencourt.state.nh.us/house/committees/billtext.aspx?billnumber=HB0552.htmlThanks for bringing this to our attention.
“persons using private virtual currencies for Internet commerce from the licensing requirements for money transmitters.” This would be huge if most states would pass this as a law, even just granting a honey moon grace period of 10 years. Unless we as an industry can change the political climate, this may be somewhat wishful. Here is one I prefer to be wrong.
I've actually been talking about an unrelated matter with a Canadian political party, and the subject of cryptocurrency came up. They don`t know enough about it to take a stance, so I`m going to educate them. I`ll make sure to include some examples of favorable legistlation like this. With the Federal election date set for Oct. 19th/2015, cryptocurrency could in to play and be a game changing issue...
Digital currency will indeed be a game changer. I am becoming more convinced that the problem our industry has for not doing as well as it should have is due to some very serious misunderstand on the concept of a decentralized peer to peer trustless system policed by miners without the control of any central authorities. This concept sound so cool. In fact, it is cool. Being able to transfer currency and asset of value, legal contracts and other instructions and messages between to parties with two cell phones or computers with internet connection anytime, anywhere worldwide is cool and potentially game changing.
The biggest mistake our industry has made is forgetting importance of the human side of the enterprise. Trust is central to the currency that is used as the vehicle of transport. The human side of the enterprise is the driver of the vehicle, and it is critical in completing and winning the race, or causing a wreck resulting in crush and burnt. Should we be so surprised? Perhaps we should not be. There are plenty of real world cases to study if we need.
No single person owns or controls a currency. Ownership and participation is at will, meaning that you may be a large DNotes stakeholder today, but you are at you own will to change your ownership and dump everything any time you want. It is also true that if one of us tries to buy up all the DNotes to drive up the price, he will bankrupt himself and the value of the DNotes will be worth nothing; zero.
We have been well aware of the problems and challenges and decided to build a currency from ground up. For it to work we have to do all that we have done over the last 12 months and a lot more. DNotes will be one year old on Wednesday, Feb.18. We have a lot to be proud of but the hard work just started. There nothing wrong with Bitcoin as a technology. It has been misunderstood and abused. Let us do our part to help clear things up a little. It just needs a little more love, some due respect and a truck load of trust. I mean from the mainstream media and our political leaders representing all of us.
I will not be available until late this evening. See you later.
