Begining of the END for BTC. Bitcoin is becoming ultra regulated currency - page 6.

frankenmint

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HoneybadgerOfMoney.com Weed4bitcoin.com

Quote from: dida on July 17, 2014, 03:59:54 PM

Guys as BTC became mainstream everyone who trully loves crypto will go under radar on tor network and darknet and use XC, darkcoin and other privacy based coins..

Is it really necessary to stay under the radar. Do you feel like your rights are violated SOOOOO much that you spend excessive time using Tor ir i2p or freenet? I tried them out and honestly the deep web has been an underwhelming waay overrated experience. I want BTC to go mainstream because I'd like to see everyone pass on the savings of using BTC with lower pricing (yes a pipe dream probably not going to happen) and I want to see companies give kickbacks to users who use btc over other currencies (sort of like what isis is trying to do - they feel threatened by cryptocurrency so this is an attempt to keep users incentivized to continue using consumer debt attached to high interest rates.)

Not all BTMs require you to 'sell your palm print|ID|DNA|etc'. I think they do more good than harm because it draws attention from those who have no idea what it is and it makes those who DO know what it is smile because they see that cryptocurrency is becoming more accessible to the mainstream.

dida

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SoNiC BooM

Quote from: hiromem on July 17, 2014, 04:02:40 PM

agreed but i think the title of the post is wrong. should read "middle of the end..." the begining of the end was when asics hit mainstream. and for a libertarian utopia "coin" it sure is hard to get any without revealing your identity or risking your money to some asshole who wants you to "Send First" so he can make a fucking 15 percent commission for sitting on ass and being a general fuck twat.

dont even get me started on "bitcoin atms" with their biometric sensors, handprint scanners, and gov id verifications. bitcoin should be renamed to "beastcoin" (as is "mark of the").

i havent even mentioned price stability (since it completely lacks it). now that i think about it, bitcoin is currently more of a pain in the ass to deal with than ANY OTHER means of exchange presently in existence. now the fanboys can jump in and start sucking each other off, hoping to prop up this overvalued piece of shit so a GREATER FOOL can come take it off their hands, enriching them in the process.

+1000

dida

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Quote from: PolarPoint on July 17, 2014, 03:58:38 PM

I think regulating exchanges is inevitable. But it is a good thing in some ways. At least the exchanges will be monitored and audited, so we will not have another gox meltdown.

Don't be so sure that that is the purpose of this act

hiromem

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agreed but i think the title of the post is wrong. should read "middle of the end..." the begining of the end was when asics hit mainstream. and for a libertarian utopia "coin" it sure is hard to get any without revealing your identity or risking your money to some asshole who wants you to "Send First" so he can make a fucking 15 percent commission for sitting on ass and being a general fuck twat.

dont even get me started on "bitcoin atms" with their biometric sensors, handprint scanners, and gov id verifications. bitcoin should be renamed to "beastcoin" (as is "mark of the").

i havent even mentioned price stability (since it completely lacks it). now that i think about it, bitcoin is currently more of a pain in the ass to deal with than ANY OTHER means of exchange presently in existence. now the fanboys can jump in and start sucking each other off, hoping to prop up this overvalued piece of shit so a GREATER FOOL can come take it off their hands, enriching them in the process.

kendog77

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Quote from: dida on July 17, 2014, 03:42:07 PM

BTC is becoming peace of shit ultra regulated currency like USD, YEN, etc. and I don't like it. Probably true crypto believers will abandoned BTC soon if not even sooner:

http://www.businessinsider.com/nydfs-bitlicense-draft-2014-7

I'm not sure why you think this is a bad thing.

In order for the price of BTC to go to the moon like most people hope it will, it needs to be an ultra regulated currency so grandma can use to it pay for groceries at the supermarket.

BTC is never going to go mainstream, and the price will never go to the moon, without significant regulation.

True "crypto" believers have little impact on the price. Right now, the focus needs to be on getting the average Joe to use BTC.

dida

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Guys as BTC became mainstream everyone who trully loves crypto will go under radar on tor network and darknet and use XC, darkcoin and other privacy based coins..

LiteCoinGuy

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In Satoshi I Trust

this is the start of mainstream BTC

PolarPoint

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I think regulating exchanges is inevitable. But it is a good thing in some ways. At least the exchanges will be monitored and audited, so we will not have another gox meltdown.

StevenS

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Quote from: dida on July 17, 2014, 03:42:07 PM

Probably true crypto believers will abandoned BTC soon if not even sooner:

The (proposed) regulation does not mention Bitcoin or BTC by name. It uses the term "Virtual Currency". So if a "true crypto believer" abandons BTC, the next crypto will still be covered by this regulation.

Also, the (proposed) regulation specifically says that miners (as well as merchants, mentioned earlier) are not required to obtain a license.

I really don't see how this has any negative.

devphp

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Decentralized exchanges is the answer.

Yakamoto

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"First they ignore you,
then they laugh at you,
then they fight you,
then you win."
-Gandhi

There is nothing that will force businesses to obtain these liscenses.

As long as you can remain somewhat secretive, you can beat them out. It can't be regulated. The decentralization confirms that.

Plus that's New York, not the entire world. Why did California legalise it with no regulations...?

One government doing something doesn't affect the rest.

Tell me how it can become a

Quote from: dida on July 17, 2014, 03:42:07 PM

peace of shit ultra regulated currency

When they can't regulate it fully?

If necessary, people will jump to coins like XMR, LTC, DRK (Maybe), VER, the list goes on with established coins.

They're fighting us, but they'll have a hard time winning. If we hold out long enough, they'll have to give up.

Does anyone agree?

StevenS

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Quote

The license is not required for merchants or consumers that utilize Virtual Currency solely for the purchase or sale of goods or services; or those firms chartered under the New York Banking Law to conduct exchange services and are approved by DFS to engage in Virtual Currency business activity.

Bottom line: It applies to exchanges and services like Bitpay. And it seems to only apply to New York companies. (Does it apply to companies with customers in New York?)

HarmonLi

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Honest 80s business!

what did you expect? you thought BTC would fly under the radar forever and there would be no regulations around it?

well that wasn't very realistic.

dida

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SoNiC BooM

BTC is becoming peace of shit ultra regulated currency like USD, YEN, etc. and I don't like it. Probably true crypto believers will abandoned BTC soon if not even sooner:

http://www.businessinsider.com/nydfs-bitlicense-draft-2014-7

Topic: Begining of the END for BTC. Bitcoin is becoming ultra regulated currency - page 6. (Read 5845 times)