Topic: Bitcoin Foundation to meet US authorities. (Read 3841 times)

Google cache also does this well.

Protip: Google search for article title, click first result... bam full article.  If it doesn't work the first time, wait a minute and try again... WSJ limits how many free click thoughs from google it will allow per minute.

i think they are starting to catch on! the girl is a bit slow, but what do you expect.... 

http://www.bloomberg.com/video/bitcoin-s-bid-for-legitimacy-3b47o9o2R1C7qjfk0H8TKA.html

Diplomacy works only to a limited degree, because you never know that the guy you established good relation with might be hated by another guy who has higher political power. The ultimate thing that decide is the power, and it changes from time to time

In an enterprise, power of tech experts are very high in R&D decision making, but they were ruled by the marketing guys, since that's where all the money comes from, and money ultimately decide every project

With bitcoin, people first time in history get hold of the money through tech, this make things complicated, it shifted a lot of power from politicians and bankers to tech guys like ASIC device manufacturer and software developer. Actually this power shifting is already happening for many years in IT industry, but because of money, it never made any real sense, an IT expert was just another skilled worker ruled by capitalism

But, if one day our world is mostly regulated by the computer and network geeks, will it be better for humanity?   This is the same question as: Who should be the guy at Bitcoin Foundation to set the roadmap for bitcoin?

lol authorities

I'm getting the sinking feeling that they're making a big hoopla out of these briefings so that whatever they do later they can say "well, we didn't leap into this uninformed… these guys from the Bitcoin Authority briefed us!"

Do not forget that Bitcoin is global. If one group does not wish to participate then they can opt out.
However the rest of the world will keep going without them.

Including the fact that BTC can potentially be taken anywhere in our solar system

At this time the Bitcoin network has been resistant to centralization.

Just saying.

Feel right at home.  Bro hugs all around?

Yes, that's why I put (or more) in paranthesis. I used a week myself initially, but there are sharper heads out there for sure, but I would guess some people would need more time, and some people wouldn't get it no matter what..

That's a good point. And it is a sad fact that in todays society, more often than not, it's 'good relations' that makes things happen. In a perfect world, everyone should act logically, without taking into account personal relationships. But that's not how it is.

For example, there's some people who cannot stand critisism, so if you at one point direct an 'attack' in their direction, in the future, they will always reject, stall or otherwise make life difficult for you. And of course, they will always point to formalities, and the real reason (that you're an obnoxious person that actually see through their lies and deception and tell the truth) will never be displayed.

Thereof the concept of being a 'political chameleon'.

So all in all - if the lads at bitcoin foundation do some pub rounds with some 'important regulators', then the regulators would think they're all jolly good chaps, and that will add to their decisions in the future.

Well - it ain't all that simple - but surely, human relationships are very important when you need to have things done, and when you have a good relationship with someone, you have a much better starting point for your next discussion, than starting with the knowledge in the back of your head that the last time you talked together it was because you rightfully pointed out their incompetence an ineptitude. Nobody likes to hear that, even though it's the truth.

Being a 'tech-person', it's often annoying to deal with irrational behaviour in people, and when people act unprofessionally and just expect you to 'suck it up', then I think it is time to set things right, but sometimes that will just damage relations, so perhaps diplomacy is the way to go in that regard.

Maybe for someone well versed in computer science, economics, and cryptography, lol. There are a lot of errors and misinformation on bitcoin all over the internet. It takes a while to wade through it all and figure out what is correct. And it takes some time to comprehend the potential of it all. Even simple questions like, "Is it anonymous?" and "Is it true I can create bitcoins on my home computer?" don't have simple answers. Instead, news stories summerize bitcoin as "Anonymous online currency that you can create on your home computer!"

Just like the internet in the 1980's or other similar advancements in technology, it takes more than a day for most people to grasp what bitcoin really is.

That's indeed the case.

Meetings are not for information but relation.

I agree 100%. However, it seems like some people need to be spoonfed, they can't do any research themselves. Fact is, after one day (or more) of research, most intelligent people will probably get a grasp as to what bitcoin is, and how it functions.

In the real world however, you always need to schedule meetings, then everybody needs to travel there, to clog up the roads, hotelrooms and eat on expensive restaurants on the taxpayers behalf, then you sit in a conference room and listen to talks. More often than not, you don't learn anything that you couldn't have learned from doing research with your own laptop.

I wonder what the government will say when they realise that the Bitcoin foundation are nothing more than a bunch of extremely pushy wannabe bureaucrats who don't know what the fuck they're talking about?

You need an account to read.....but found this.

http://online.wsj.com/article/SB10001424127887323407104579037301852662422.html

Will

Only because of large buys on Gox. No other reason.

The thing is the Gox is not the only one.I've just seen Bitstamp go up almost $5 in a short amount of time.

Behind bars how 20th century, more like accidental drone strike hit their convoy on the way back to the airport.  

Some good news there? Suddenly we got 10000 coins market buy, pushing the price up above 125

they can't tell you since they are all behind bars

So they met today right? What happened?

Yes, the guidance certainly seemed to be issued with an act now, think later mentality. With any luck, deeper understanding will come to regulators soon, leading to more efficient and applicable policies. This is of course dependent upon the theory that our government is interested in acting rationally and in the best interest of all people and business.

It is reconnaissance, then will follow war. The guys start thinking only when encountering brute force.

Well I think some good stuff will come out of it. The community has had many months to prepare a decent case with real stats for Bitcoin. This only futher legitimizes Bitcoin if federal authorities are at least paying attention.

That FinCEN guidance is idiotic.  Well hopefully they use more apropriate language but address the fact that FinCEN guidance is about as clear as mud and contrary to their prior guidance on the scope of money transmission.

Just a small list of inconsistencies:
* miners are MT if they exchange virtual currency for real currency.  Why?  Entities which are engaged in the business (key word) of exchanging are already MT.   Why even open the door for hobbyist miners.

* who is the creator of a currency unit in the scenario of pool mining (and thus potentially a MT)? 
The pool? 
The miner (which isn't really a miner more a contracted computing power supplier)? 
The pool and the miner?
Neither because only Satoshi is and miners and pools simply unlock existing currency units?

* Why did FinCEN ignore their prior guidance as it relates to real currency exchangers.
Real currency exchanger is NOT a money transmitter
A real currency exchanger which engages in money transmission as requirement of doing business but whos activity is limited to exchanging currency is NOT a money transmitter.
All virtual exchangers are money transmitters.  WTF?




 

How government can rob yours Bitcoins. -)

Exactly what will be discussed that can't be found through personal research on the interwebs?

Patrick Murck, Brian Klein, Marco Santori and Peter Vessenes will represent the Bitcoin Foundation at the event and Jim Harper, director of information policy studies at Cato Institute, will also be present.

http://www.coindesk.com/federal-agency-representatives-meeting-to-discuss-bitcoin/

The executive branch sole purpose is law enforcement/enactment.  It would be good to see some congress critters invited though.

Do we know who is going from the foundation? Why is that even a secret?

By sending almost only law enforcement agencies, they clearly show how they classify the topic.

"Hey guys, come talk to us so we can get a better understanding of how this digital currency business works... Psych out! You're under arrest." Yeah, I don't expect that either. I think a better understanding is all that is to come of this for the time being, and that's a positive thing in my book.

There is much that could happen but none of it is likely.

From a better standing and releasing of seized funds to charges against foundation heads or even arrests many things are possible. I don't expect either to actually happen.

New experts, meet old experts...

Why wasn't I invited! 

I am now sure if this is positive or negative but glad they are meeting at least.