Native American Activist Wants To Swap The Dollar For Bitcoin

taltamir

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Quote from: cypherdoc on December 19, 2013, 11:37:01 PM

Quote from: QuestionAuthority on December 19, 2013, 01:48:50 PM

They can't have their own currency because that was not specifically negotiated in a treaty. They don't have to pay taxes on income earned and they are raping the American dollar away from citizens with casinos. Why would they want to change that situation anyway?

http://www.bia.gov/FAQs/

Quote

Limitations on inherent tribal powers of self-government are few, but do include the same limitations applicable to states, e.g., neither tribes nor states have the power to make war, engage in foreign relations, or print and issue currency.

how is an exchange or a bank involved in printing or issuing currency?

They plan on running an exchange AND a mining operation. The mining is clearly "printing/issuing" currency.

bitpop

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https://bitcointalk.org/index.php?topic=360549.new;topicseen#new

bitpop

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He had a thread here long ago

QuestionAuthority

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Quote from: cypherdoc on December 20, 2013, 12:07:32 AM

Quote from: QuestionAuthority on December 19, 2013, 11:51:22 PM

Quote from: cypherdoc on December 19, 2013, 11:37:01 PM

Quote from: QuestionAuthority on December 19, 2013, 01:48:50 PM

They can't have their own currency because that was not specifically negotiated in a treaty. They don't have to pay taxes on income earned and they are raping the American dollar away from citizens with casinos. Why would they want to change that situation anyway?

http://www.bia.gov/FAQs/

Quote

Limitations on inherent tribal powers of self-government are few, but do include the same limitations applicable to states, e.g., neither tribes nor states have the power to make war, engage in foreign relations, or print and issue currency.

how is an exchange or a bank involved in printing or issuing currency?

I think the spirit of the actual law would keep them from running an unlicensed bank or exchange unless it was only for the Indians to use within the boundaries of the reservation. They can trade river rocks with each other and call it cash but they can't leave the reservations and trade those rocks with palefaces. They can smoke peyote in a religious ceremony but they can't sell controlled substances to palefaces. Besides they have the same limitations applicable to states.

"spirit of the law". wow, that's an interesting one. almost sounds beneficial.

exchange or banking over the internet will be an interesting question while the exchange is housed on a reservation. i see your point but it's muddied and not spelled out clearly as far as i know. otoh, it might be an interesting experience to travel to a reservation if one had to exchange or bank onsite.

That is a funny phrase isn't it. When I was young the legal system interested me and I would read transcripts of landmark cases. Attorneys use that term to attempt to apply meaning where none really exists.

Quote

Letter and spirit of the law
The letter of the law versus the spirit of the law is an idiomatic antithesis. When one obeys the letter of the law but not the spirit, one is obeying the literal interpretation of the words of the law, but not the intent of those who wrote the law.

It would be a very muddy legal battle were it not for one phrase, "the same limitations applicable to states".

cypherdoc

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Quote from: QuestionAuthority on December 19, 2013, 11:51:22 PM

Quote from: cypherdoc on December 19, 2013, 11:37:01 PM

Quote from: QuestionAuthority on December 19, 2013, 01:48:50 PM

They can't have their own currency because that was not specifically negotiated in a treaty. They don't have to pay taxes on income earned and they are raping the American dollar away from citizens with casinos. Why would they want to change that situation anyway?

http://www.bia.gov/FAQs/

Quote

Limitations on inherent tribal powers of self-government are few, but do include the same limitations applicable to states, e.g., neither tribes nor states have the power to make war, engage in foreign relations, or print and issue currency.

how is an exchange or a bank involved in printing or issuing currency?

I think the spirit of the actual law would keep them from running an unlicensed bank or exchange unless it was only for the Indians to use within the boundaries of the reservation. They can trade river rocks with each other and call it cash but they can't leave the reservations and trade those rocks with palefaces. They can smoke peyote in a religious ceremony but they can't sell controlled substances to palefaces. Besides they have the same limitations applicable to states.

"spirit of the law". wow, that's an interesting one. almost sounds beneficial.

exchange or banking over the internet will be an interesting question while the exchange is housed on a reservation. i see your point but it's muddied and not spelled out clearly as far as i know. otoh, it might be an interesting experience to travel to a reservation if one had to exchange or bank onsite.

QuestionAuthority

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Quote from: cypherdoc on December 19, 2013, 11:37:01 PM

Quote from: QuestionAuthority on December 19, 2013, 01:48:50 PM

They can't have their own currency because that was not specifically negotiated in a treaty. They don't have to pay taxes on income earned and they are raping the American dollar away from citizens with casinos. Why would they want to change that situation anyway?

http://www.bia.gov/FAQs/

Quote

Limitations on inherent tribal powers of self-government are few, but do include the same limitations applicable to states, e.g., neither tribes nor states have the power to make war, engage in foreign relations, or print and issue currency.

how is an exchange or a bank involved in printing or issuing currency?

I think the spirit of the actual law would keep them from running an unlicensed bank or exchange unless it was only for the Indians to use within the boundaries of the reservation. They can trade river rocks with each other and call it cash but they can't leave the reservations and trade those rocks with palefaces. They can smoke peyote in a religious ceremony but they can't sell controlled substances to palefaces. Besides they have the same limitations applicable to states.

cypherdoc

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Quote from: QuestionAuthority on December 19, 2013, 01:48:50 PM

They can't have their own currency because that was not specifically negotiated in a treaty. They don't have to pay taxes on income earned and they are raping the American dollar away from citizens with casinos. Why would they want to change that situation anyway?

http://www.bia.gov/FAQs/

Quote

Limitations on inherent tribal powers of self-government are few, but do include the same limitations applicable to states, e.g., neither tribes nor states have the power to make war, engage in foreign relations, or print and issue currency.

how is an exchange or a bank involved in printing or issuing currency?

bryant.coleman

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The Native American casino business is currently declining steeply due to the proliferation of online gambling sites. If they allow the use of BTC, then a lot more revenue can be generated.

QuestionAuthority

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Quote from: taltamir on December 19, 2013, 02:08:17 PM

Quote from: QuestionAuthority on December 19, 2013, 02:07:35 PM

Quote from: ProfMac on December 19, 2013, 02:00:16 PM

Quote from: QuestionAuthority on December 19, 2013, 01:48:50 PM

... and they are raping the American dollar away from citizens with casinos.

Rape is not voluntary. Casinos require effort to travel to, and participation is voluntary. Even with the casinos, the Native Americans have not been treated justly in accordance with the treaties.

When have we ever treated the Indians justly.

Who is the "we"? last I checked the average american is on the receiving end along with the indians.

Yeah, that's right. No one is treated justly.

taltamir

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Quote from: QuestionAuthority on December 19, 2013, 02:07:35 PM

Quote from: ProfMac on December 19, 2013, 02:00:16 PM

Quote from: QuestionAuthority on December 19, 2013, 01:48:50 PM

... and they are raping the American dollar away from citizens with casinos.

Rape is not voluntary. Casinos require effort to travel to, and participation is voluntary. Even with the casinos, the Native Americans have not been treated justly in accordance with the treaties.

When have we ever treated the Indians justly.

Who is the "we"? last I checked the average american is on the receiving end along with the indians.

QuestionAuthority

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You lead and I'll watch you walk away.

Quote from: ProfMac on December 19, 2013, 02:00:16 PM

Quote from: QuestionAuthority on December 19, 2013, 01:48:50 PM

... and they are raping the American dollar away from citizens with casinos.

Rape is not voluntary. Casinos require effort to travel to, and participation is voluntary. Even with the casinos, the Native Americans have not been treated justly in accordance with the treaties.

When have we ever treated the Indians justly.

taltamir

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Quote from: crazy_rabbit on December 19, 2013, 02:00:10 PM

Quote

Limitations on inherent tribal powers of self-government are few, but do include the same limitations applicable to states, e.g., neither tribes nor states have the power to make war, engage in foreign relations, or print and issue currency.

I wonder however if this limits them from accepting other currencies..... If they don't mine bitcoins but just use them?

That does sound like it puts a big hole in his plan, he should drop the mining part entirely since that would be a clear case of issuing currency.

Quote from: gortonc on December 19, 2013, 02:00:46 PM

The treaty obligations are a double edged sword that can be used to advantage. At this point the powers have made a point of avoiding declaring BC a currency. As long as they do not, the tribes will have free reign. As soon as the powers make such a declaration they open the floodgates that will demand unenforceable regulation. Either way it is a win/win for both Bitcoin and the tribes. Grin

The united states treatment of egold and the 2 other gold companies from the last decade shows that the USA is more then willing to use contradictory laws.

Take egold, egold has been DENIED status as a financial institution by the IRS, then a new law was passed that redefined what a financial institution is. Then it was applied retroactively (retroactive laws are unconstitutional) to them for prior years, and they weren't allowed to apply for a change in status now that the law change, they were just shut down.

So what you call a win is not necessarily one as history shows

gortonc

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The treaty obligations are a double edged sword that can be used to advantage. At this point the powers have made a point of avoiding declaring BC a currency. As long as they do not, the tribes will have free reign. As soon as the powers make such a declaration they open the floodgates that will demand unenforceable regulation. Either way it is a win/win for both Bitcoin and the tribes. Grin

ProfMac

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Quote from: QuestionAuthority on December 19, 2013, 01:48:50 PM

... and they are raping the American dollar away from citizens with casinos.

Rape is not voluntary. Casinos require effort to travel to, and participation is voluntary. Even with the casinos, the Native Americans have not been treated justly in accordance with the treaties.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: QuestionAuthority on December 19, 2013, 01:48:50 PM

They can't have their own currency because that was not specifically negotiated in a treaty. They don't have to pay taxes on income earned and they are raping the American dollar away from citizens with casinos. Why would they want to change that situation anyway?

http://www.bia.gov/FAQs/

Quote

Limitations on inherent tribal powers of self-government are few, but do include the same limitations applicable to states, e.g., neither tribes nor states have the power to make war, engage in foreign relations, or print and issue currency.

I wonder however if this limits them from accepting other currencies..... If they don't mine bitcoins but just use them?

taltamir

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Quote from: BlueNote on December 19, 2013, 11:56:24 AM

He should set up an exchange rather than get into mining.

According to the article he wants to do both, also it is misleading to say "he" because he actually has approval from the tribe elders according to the article. They don't understand it but trust that he does and trust him to implement it.

The plan is to leverage their status as "domestic dependant (semi)sovereign states" to switch their local economy to using bitcoins instead of dollars.

There has been all this talk about a nation adopting bitcoin as its official currency. It appears the first one to do so would be an inidian reservation

luqash3

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Actor Tom Truong you wish to swap bitcoins with dollars well sound good but 1 bitcoin for how much dollars? What will be the mode of payment like PayPal, credit card or any other? And above all why I shall trust you like I fear you may be just a scam like many others I have discovered in market

QuestionAuthority

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You lead and I'll watch you walk away.

They can't have their own currency because that was not specifically negotiated in a treaty. They don't have to pay taxes on income earned and they are raping the American dollar away from citizens with casinos. Why would they want to change that situation anyway?

http://www.bia.gov/FAQs/

Quote

Limitations on inherent tribal powers of self-government are few, but do include the same limitations applicable to states, e.g., neither tribes nor states have the power to make war, engage in foreign relations, or print and issue currency.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

I think this is **INCREDIBLE** what opportunity! What Possibilities!

While I know many tribes have lots of internal problems, the idea that they could move over to bitcoin is extremely exciting.

ProfMac

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A reservation that I have visited has a wind turbine, but it is idle. The local electricity company will not allow them to connect to the grid.

I have envisioned a scenario where they heat/cool a community building, possibly including a swimming pool and laundromat, with the waste heat from mining operations in a facility adjacent to the wind turbine.

They could also clone a coin for their own use, and use this coin to distribute funds. The culture in the Native community seems to be significantly more tuned to taking care of all members of the community than the bitcoin community, and I think these ideas will work there.

The casinos have attracted a significant amount of outside funding, and a consideration of how they have impacted the reservation may be instructive in viewing a currency exchange.

Topic: Native American Activist Wants To Swap The Dollar For Bitcoin (Read 1478 times)