CoinLenders Script :: Bitcoin Bank (Borrow+Deposit) Software :: Demo Available - page 59.

001sonkit

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Casper - A failed entrepenuer who looks like Zhou

Quote from: Kouye on September 02, 2013, 04:17:07 PM

Quote from: 420 on September 02, 2013, 02:11:26 PM

i am trusting my real or fake currency with CoinLenders site. It can be as a person; doesn't have to be a bank. Person to person transfers, especially digital, are not specifically regulated

They are regulated in some countries, as TF stated. Whenever you loan over 760€ to your mate, for example, you have to declare it to the state tax-collecting authorities in France, last time I checked.

Server in US and TF is an Asutralian.
Different place have different laws to apply.

Kouye

sr. member

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Cuddling, censored, unicorn-shaped troll.

Quote from: 420 on September 02, 2013, 02:11:26 PM

i am trusting my real or fake currency with CoinLenders site. It can be as a person; doesn't have to be a bank. Person to person transfers, especially digital, are not specifically regulated

They are regulated in some countries, as TF stated. Whenever you loan over 760€ to your mate, for example, you have to declare it to the state tax-collecting authorities in France, last time I checked.

420

hero member

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i am trusting my real or fake currency with CoinLenders site. It can be as a person; doesn't have to be a bank. Person to person transfers, especially digital, are not specifically regulated

001sonkit

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Casper - A failed entrepenuer who looks like Zhou

Quote from: Lohoris on September 01, 2013, 02:44:06 AM

To all the "move the server" suggestions: unless he moves too, that would be completely useless, I guess.

He is not american AFAIK

Lohoris

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Bitgoblin

To all the "move the server" suggestions: unless he moves too, that would be completely useless, I guess.

drewph

member

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Merit: 10

Novice Bitcoin Trader

Move the server to Singapore like PayPal does. Grin

ChaosFox

full member

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Certified fox posing as a cat posing as a human

Sorry, these changes are unfortunately the tipping point for me. I have really enjoyed your service and there's nothing inherently wrong with it, but until it can be started anew with servers outside the US, I'll have to withdraw my play money from your live demo populated with real-world data. I'll still happily recommend it to anyone who wants to earn fee rebates on their play money and doesn't mind the risk that comes from trying out a demo site.

C10H15N

legendary

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Quote from: Kluge on August 31, 2013, 02:05:13 PM

Outside US, doesn't comply with extradition demands, and doesn't have similar laws.

TO THE MOON!!!

Overkill. L5 would work nicely. Grin

Kluge

donator

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Outside US, doesn't comply with extradition demands, and doesn't have similar laws.

TO THE MOON!!!

cyclops

legendary

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At first I was frightened with this TF change, but now I understand why he did this post. As said before the best thing he can do is find a host outside US.

gannicus

member

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just move coinlenders.com to a non-us host. I guess the benefits of doing that are worth the effort.

kopipe

full member

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Quote from: 🏰 TradeFortress 🏰 on August 30, 2013, 06:51:03 PM

Thanks for your feedback, armchair lawyers.

You don't need to be a lawyer to understand that CoinLenders is breaking US law (the jurisdiction it is hosted in).

Lohoris

hero member

Activity: 630

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Bitgoblin

Quote from: 🏰 TradeFortress 🏰 on August 30, 2013, 06:51:03 PM

Thanks for your feedback, armchair lawyers.

• Your signature claims that coinlenders is a "⛀+⌚➔⛁ CoinLenders: Bitcoin bank"
• inputs.io claims it can send Bitcoins "Sending Bitcoins", and it is the only accepted deposit method in Coinlenders, implying that Coinlenders knows it is accepting Bitcoins
• inputs.io claims Bitcoins are a currency "Bitcoin is an internet based, decentralized currency. No one controls it, and everyone can use it.", implying Coinlenders knows it is accepting a real currency, no "everything is fictional" bullshit
• if Coinlenders was only a testing platform, it would accept Testnet coins instead
• people apparently can deposit coins at Coinlenders and get them back with interests, so yes it is an investment platform, laws are not that dumb
• your real identity isn't public and you operate two services holding people's money, you don't need to be a lawyer to understand that it's because you well know that what you are doing is well beyond the gray area level, so don't talk me about lawyers...

001sonkit

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Casper - A failed entrepenuer who looks like Zhou

Wonder when will the server moved to somewhere out of the United-Sue's places

Caesium

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Quote from: Grim Death on August 31, 2013, 11:03:40 AM

I may be overly skeptical here. But doesn't the fact that this is all a demo now mean that if 'Coinlenders' so wished they would be able to pay back all deposits with zero interest and there would be zero recourse against them?

It's a demo. There's no real money. So nobody will mind if TF shuts the demo down and disappears into the night, will they?

drewph

member

Activity: 64

Merit: 10

Novice Bitcoin Trader

Can we still get a loan from Coinlenders? Huh

Grim Death

member

Activity: 86

Merit: 10

I may be overly skeptical here. But doesn't the fact that this is all a demo now mean that if 'Coinlenders' so wished they would be able to pay back all deposits with zero interest and there would be zero recourse against them?

This now feels like a pass through. What is to stop Coinlenders not honouring a deposit made to them when a loan hasn't been repaid? Apart from damaging their business of course.

TwinWinNerD

legendary

Activity: 1680

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CEO Bitpanda.com

too hot for me, im out for the moment.

I was/am very statisfied with your service, if the situation cools down a bit, i might be back

Good luck with your future endevours!

bitfromit

sr. member

Activity: 329

Merit: 250

Love the new demo!

🏰 TradeFortress 🏰

vip

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👻

Thanks for your feedback, armchair lawyers.

Topic: CoinLenders Script :: Bitcoin Bank (Borrow+Deposit) Software :: Demo Available - page 59. (Read 111205 times)