Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 170. (Read 1276936 times)

Thank you. And regarding the recent rumors of possible SEC enforcement action against numerous entities in the space (presumably based around unauthorized security offerings), the following link is rather apropos:

http://apps.americanbar.org/buslaw/newsletter/0014/materials/investmentch2.pdf

It’s rather short and well cited. In particular, “Investment Contracts and Instruments Commonly Known as Securities” on page 5 is good. I am not a lawyer and thus will not interpret this document here. However, it appears to be a good resource for anyone interested in the definition of a security, and how such a definition may apply to the various offerings in this space.

The foresight exhibited by this team is astonishing.

Yes, a few other features are disabled through geo-ip restrictions as well.

Confirmed.

Can anyone confirm this?  If so, I'd consider it more great news as we wade into regulation.

I think CounterWallet is compliant as far as gambling goes (abides by some relevant national/regional anti-gambling laws by enforcing geo-ip restrictions)

If we're talking about crypto-as-a-currency (not to be confused with crypto), then I agree.



Why not both?  Crypto has nothing to lose and everything to gain.

To call my point of view naive is a bit much, in essence you simply disagree and that is fine, you can disagree without badmouthing the opposition. I tend to agree more with the philosophical viewpoint of Andreas which is that due to the fact that as far as western nations are concerned, purchasing ability is not exactly super enhanced by switching from say a credit card transaction to bitcoin transaction (relatively speaking). Thus, the true wide adoption waiting for crypto currency technology will most likely come from the various developing nations who do "NEED" something like bitcoin because in comparison their local currency or economic system is just trash.

You mention having boots on the ground doing the dirty work and I agree completely, but it's not about engaging regulation, it's going to be about Down-Teching the bitcoin technology itself. As in making it SOOO easy and simple to use and understand crypto currencies that even some guy in a remote part of the world can simply use a Nokia cell phone and basically become the bank of his village...  This is the sort of thing Andreas Antonopoulos talks about and I have to agree that making this technology simpler will increase real adoption WAYYY quicker than trying to get in bed with regulators.

As you know, that is an extremely common point of view amongst cryptofolk.  It is, in my opinion, naive at best and detrimental at worst.  Crypto works but in order for it to work better, practical factors like regulation must be engaged.  Thinking big is great but in order to get there from here, we need boots on the ground doing the dirty work of connecting the dots.  Fortunately, people like Patrick Byrne seem to be doing exactly that.

Thanks!

http://support.counterparty.io/support/solutions/articles/5000004858-cold-storage-of-counterparty-assets-btc-using-armory-

I bought some XCP on Polo and am wondering what the best way to store them off exchange is?

I still think that the concept of what exactly Counterparty is still eludes even many of those who support it. But it's probably also because the concept of cryptographic currency is still such a huge learning curve to most. 10 months ago I didn't understand bitcoin at all, I do tech support for a graphics card manufacturer called XFX and had been hearing about bitcoin and litecoin constantly from customers who kept breaking our products while trying to mine with them so I got interested. But I have always had a kind of Libertarian mindset and open minded to disruptive theories etc... So I kind of pulled an Antonopoulos, disappeared from many of my friends and have really immersed myself not just in the community of digital currency, but have spent every day from the ground up absorbing traditional and alternative knowledge concepts about economics, computer science(of which I'm least adept at), and philosophy as these 3 categories of thought are what is necessary to have a proper grasp of the essentials of how crypto currency is actually changing the world.

It's a steep learning curve trying to really grasp what these new protocols like Counterparty and Ethereum are actually bringing to the table but once you start to see it and it becomes this clear picture I can assure you that you won't say that "we've been providing gambling services" because counterparty doesn't provide any service at all. It's an open source code which anyone can use. Trying to say we provide gambling services is like saying the internet provides recruiting services for ISIS or other terrorist organization thus perhaps we should shut down or criminalize the internet or facebook? Negative, we shut down the perpetrators of illegal or counter productive activity not the protocol itself because the protocol is innocent.

What could be bigger than that?  Still, I'm very curious about the role the XCP coin will play in Medici, if any.  I'm also a bit concerned that we've been providing betting/gambling services.

I'll take half of those mistaken burned coins you have.

On a serious note the SEC business is about punishing companies (not technologies) that sell equity/stocks without being licensed to. I'm not going to comment on any other companies selling crypto equity illegally but I will say this, of all companies considering this, "Project Medici" being headed by CEO of Overstock, is a project which is actually going through the proper regulatory channels "before" issuing their crypto-equity virtual stock exchange.

This means that when Medici becomes a reality, it will be the first and only crypto currency stock market that the SEC will have officially approved.

You may be making a huge mistake holding. You are welcome to contact me if you wish to offload your burned coins in one go before they plunge to zero, though.  

I'm wondering whether the price of XCP is in a bull market at the moment? http://www.counterpartyforum.com/forum/main-forum/20-xcp-price-speculation-is-xcp-undervalued

There is no information yet. Consider that in the end the regulations cannot affect the technology itself. And as long as the Bitcoin network exists, Counterparty will keep working. It's a minor setback but not a huge problem. Anyone seriously investing in this technology should have been able to see this coming.

In the end, places exist outside of the U.S, and there are many uses for tokens which do not fall under any regulation anywhere. I think to see what is occurring as an end of the world scenario shows a lack of resolve or ulterior motives.

i agree with this assessment.

also we need to keep in mind that there are other jurisdictions in play.  it is possible that the US may take a few years, however smaller jurisdictions who also see this opportunity and are able to react quicker could jump the gun. 

something like this could be a big money maker for some place like the Isle of Man, or some place in one of the EU countries that have a regional/national exchange and want to expand their footprint. Perhaps Finland or Netherlands.

The question is: how much patience do you have? do you believe that within, say 3-5 years the blockchain technology will be REALLY enabled and clear to all, and ultimately become main stream?

if you do, then this can be an early entry at ground floor level to something special, and like me, you should keep your burned coins. if not, then sell for 800% and move on.

this should be viewed as a marathon not a 100M dash, and not even a one mile race.

Personally, I think that if someone thinks that the regulatory hurdle will take "months", they are fulling themselves. 2-3 years is more like it.