I am sorry for play "the devil's advocate" but every business runs better with "rules and regulations".
It seems to me that businesses run better with free competition and "less" government.
You can have both, they're not mutually
Topic: New York’s New Bitcoin Rules Are Going to Kill Its Startups - page 2. (Read 3132 times)
It seems to me that businesses run better with free competition and "less" government.
You can have both, they're not mutually
I am sorry for play "the devil's advocate" but every business runs better with "rules and regulations".
It seems to me that businesses run better with free competition and "less" government.
BTW,
BitLicense Regulations Forked on GitHub by Bitcoin Community
Following the BitLicense announcement on Reddit, Bitcoin Foundation General Counsel Patrick Murck created a .5 BTC bounty for the first person to upload the complete text of the BitLicense regulations to GitHub for the community to edit.
http://www.cryptocoinsnews.com/news/bitlicense-regulations-forked-github-bitcoin-community/2014/07/19
BitLicense Regulations Forked on GitHub by Bitcoin Community
Following the BitLicense announcement on Reddit, Bitcoin Foundation General Counsel Patrick Murck created a .5 BTC bounty for the first person to upload the complete text of the BitLicense regulations to GitHub for the community to edit.
http://www.cryptocoinsnews.com/news/bitlicense-regulations-forked-github-bitcoin-community/2014/07/19
I am sorry for play "the devil's advocate" but every business runs better with "rules and regulations".
The proposed new regulations will only apply to companies that process bitcoin payments on behalf of customers and to companies that hold bitcoin on behalf of their customers (mainly exchanges). This is suppose to prevent another MtGOX from happening again.
NY regulation is a joke.
We will not comply, nor will we comply with Canadian regulation nor any other kind of regulation - PERIOD.
More regulation = less innovation = more monopolies = more government control of the money supply.
We will not comply, nor will we comply with Canadian regulation nor any other kind of regulation - PERIOD.
More regulation = less innovation = more monopolies = more government control of the money supply.
People will comply, even the hardest ones;that is the power of gouvernment.
They will have it their way, one way or the other, and by refusing their regulations we might see even more banks accounts linked to bitcoin closed.
That would further tear down the price, and force potential investors away.
It's only a draft/proposal at this point, right? Still open to public comment, and changes? Hopefully the bitcoin community and business/financial community can lobby for some more business-friendly regs.
That's what I've heard, anyway. Let us pray....
I'm afraid that if this is what it looks like in NY, that this what it will look like on the federal level eventually as well.
NY regulation is a joke.
We will not comply, nor will we comply with Canadian regulation nor any other kind of regulation - PERIOD.
More regulation = less innovation = more monopolies = more government control of the money supply.
We will not comply, nor will we comply with Canadian regulation nor any other kind of regulation - PERIOD.
More regulation = less innovation = more monopolies = more government control of the money supply.
It's only a draft/proposal at this point, right? Still open to public comment, and changes? Hopefully the bitcoin community and business/financial community can lobby for some more business-friendly regs.
Hmm ironic how two ends of the US have opposite view on btc. California just legalized btc with none of these strict regulations, while New York wants heavy regulation. We're in the age of rapid development for crypto, so I wonder what the other state's stance will be.
CA is looking to create a "bitlicense" NY just beat them to the punch. Also CA only "legalized" Bitcoin because they previously passed a law which made issuing and circulating virtual currencies illegal. It would be like if CA accidentally passed a law which made hamburgers illegal and then corrected it by repealing that statute. I doubt you would consider CA to be pro hamburger.
If you want to look at how punitive the various states will be just look at their existing MSB licenses are and when they passed them. NY and CA were both first movers in setting up licensing and they both top the list with massive regulatory overhead. CA maximum bond requirement for "traditional" money transmitters is $7 million.
Hmm ironic how two ends of the US have opposite view on btc. California just legalized btc with none of these strict regulations, while New York wants heavy regulation. We're in the age of rapid development for crypto, so I wonder what the other state's stance will be.
So, if a company is headquartered out of another state, do they not need to follow these proposed regulations?
Or, is it any company operating a business that does bitcoin transactions (sends their products, sells their app, etc) in New York, regardless of where they are headquartered, required to follow these regulations?
Normal logic says only those who resides in NY .... but who know how the hell they will change the rules ....
There is also a danger that other states follow the NY model. It won't affect regular users much but it raises serious entry barriers for exchanges to do business with NY residents.
well west was always different than east .... just go to cali and there you can live only with BTC
So, if a company is headquartered out of another state, do they not need to follow these proposed regulations?
Or, is it any company operating a business that does bitcoin transactions (sends their products, sells their app, etc) in New York, regardless of where they are headquartered, required to follow these regulations?
Normal logic says only those who resides in NY .... but who know how the hell they will change the rules ....
There is also a danger that other states follow the NY model. It won't affect regular users much but it raises serious entry barriers for exchanges to do business with NY residents.
So, if a company is headquartered out of another state, do they not need to follow these proposed regulations?
Or, is it any company operating a business that does bitcoin transactions (sends their products, sells their app, etc) in New York, regardless of where they are headquartered, required to follow these regulations?
Normal logic says only those who resides in NY .... but who know how the hell they will change the rules ....
Quote
. Bitcoin, after all, came of age as a lubricant for illegal activity on the Silk Road.
WTF?
Is the guy who wrote that article a complete dumb-ass ?what he should write in my opinion is this
Quote
Bitcoin, after all, came of age as a way to avoid the immoral actions of central bankers
but then again maybe he is controlled by the immoral bankers ...
So, if a company is headquartered out of another state, do they not need to follow these proposed regulations?
Or, is it any company operating a business that does bitcoin transactions (sends their products, sells their app, etc) in New York, regardless of where they are headquartered, required to follow these regulations?
newyork is the hotbed of bankers (wall street)
this was expected to happen
lets hope silicon valley wisens up and dont follow their lead
this was expected to happen
lets hope silicon valley wisens up and dont follow their lead
Not just the startup company. It will kill its value also.
Finally is it about time that some BTC candidates run from (for?) the community.
I'd love to hear more about this process and what you think needs to happen.
Essentially we need a candidate(s) and political party to run for a legislature , either lower or upper house. Register party. Select candidate.
The party needs to have its policy set out which is kinda pre written in this forum.
Run in a high profile jurisdiction like NYC state level or if you want federal.
Whatever legislature this regulation NYC guy's works for would be good.
At that point your independent can be BTC funded.
deals can then be brokered and BTC is the boss of regulation.
given the right platform...there is enough BTC out there to really fund our political party.
if successful BTC wins....rinse repeat in other jurisdictions.
Totally agree. By engaging in regulatory overreach all NY has done is make sure it is a laggard again in innovation and economic development.
Jump to: