these forum lately are full of kids....
but the idea won't work, thats the idea
There are FINCEN regulation and licensing laws which he hasn't even mentioned and we can be sure he can't/won't comply with.
The fact that hes just blatantly copied the Silkcoin wallet without changing the graphics shows that this is a two-bit scam.
You can't just issue credit cards.
You need a verifiable business, there are procedures, applications, paperwork.
If he had or was in the process of doing this paperwork we can be sure that this ANN would be a lot more thought out and better presented.
We are talking about thousands and thousands of dollars in insurance/licensing etc to set up a system like this.
Do we all just assume this anonymous bozo has jumped through all those hoops and has all this money to create a system like this?
Give me a fucking break.
I don't think he's talking about being the credit card issuer, but rather doing like prepaid ones. You turn in your coins for prepaid cards (and he's just like the store that pays $10 to add it to your prepaid Visa and hands it to you). That's what I took from it anyways.
it still facilitates money laundering and a msb. Knock Knock whose there, "The Patriot ACT" the Patriot ACT who? The patriot act, you facilitated money laundering and that money was used in a terrorist attack. Knock knock no trial needed enjoy your stay!
It has already been done by various coins , I remember kdc had one.
The government won't even bother to check a 100%/day operation like this one.