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Topic: Coinlab Bringing Bitcoin to Wall Street with MtGox Deal - page 4. (Read 7936 times)

legendary
Activity: 1106
Merit: 1001
Wow. Nice going! I wonder how the bears will spin this into a negative.  Grin

Not a bear but this means more regulation.  Buy or sell on mt gox from the u.s. and everything will be reported to the irs.

THe way I see it, there are now, and always will be, too many good ways to get in and out of bitcoin besides MtGox for this to be a problem.

I want there to be a "we report to IRS" official way to get bitcoins, because then there will be someone to fill the role of being an exchange viewed as legitimate, to fulfill the need of providing liquidity and helping the market accurately reflect a market price.  MtGox's current shortcomings (understaffed, no audit, sometimes arbitrary delays and actions with your money, worry about whether they might have assets seized) have a negative effect on the bitcoin economy, we would all benefit for these issues to be resolved, and that can only happen by playing by the rules.

Precisely. If you want to buy or sell bitcoins without anyone else's involvement, try localbitcoins or one of the other exchanges. There are many ways to do it. Anything that makes the process of buying and selling more fluid for the overwhelming majority of US residents can only be a good thing. If it then goes a step further and institutes for Bitcoin the same insurance fail-safes of the regular banking industry (with or without a formal connection to a given bank), even better.

Regulation, when it comes to Bitcoin, will always be an option, not an obligatory quality.
vip
Activity: 1386
Merit: 1140
The Casascius 1oz 10BTC Silver Round (w/ Gold B)
Wow. Nice going! I wonder how the bears will spin this into a negative.  Grin

Not a bear but this means more regulation.  Buy or sell on mt gox from the u.s. and everything will be reported to the irs.

THe way I see it, there are now, and always will be, too many good ways to get in and out of bitcoin besides MtGox for this to be a problem.

I want there to be a "we report to IRS" official way to get bitcoins, because then there will be someone to fill the role of being an exchange viewed as legitimate, to fulfill the need of providing liquidity and helping the market accurately reflect a market price.  MtGox's current shortcomings (understaffed, no audit, sometimes arbitrary delays and actions with your money, worry about whether they might have assets seized) have a negative effect on the bitcoin economy, we would all benefit for these issues to be resolved, and that can only happen by playing by the rules.
legendary
Activity: 1611
Merit: 1001
legendary
Activity: 1764
Merit: 1002
Wow. Nice going! I wonder how the bears will spin this into a negative.  Grin

Not a bear but this means more regulation.  Buy or sell on mt gox from the u.s. and everything will be reported to the irs.

thats what i was thinking.  i wonder if one could still buy directly from mtgox as a US citizen?

and i suppose one could still buy from an intl exchange.
legendary
Activity: 1304
Merit: 1015
Wow. Nice going! I wonder how the bears will spin this into a negative.  Grin

Not a bear but this means more regulation.  Buy or sell on mt gox from the u.s. and everything will be reported to the irs.
legendary
Activity: 1106
Merit: 1001
Wow. Nice going! I wonder how the bears will spin this into a negative.  Grin
legendary
Activity: 1764
Merit: 1002
I wonder what matonis will say about this?
full member
Activity: 210
Merit: 100
Amazing, this could be the best thing ever. Congrats Coinlab!
sr. member
Activity: 294
Merit: 250
http://bitcoinmagazine.com/coinlab-bringing-bitcoin-to-wall-street-with-mtgox-deal

 
Quote
The safeguards they have set up is a move to drive more U.S. volume in Bitcoins along with paving a way for institutional investors and high net-worth individuals to buy and hold large amounts of the digital currency.
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