Sorry about posting in English but I live in the Netherlands and this is relevant to me. We are the owners of DISAF.eu, we have two machines that have been put on hold because of this. We have signed and paid leases that our partners may break because of this news. We've implemented a strong AML/KYC policy modeled after Dutch and international standards voluntarily. But the company we work with, a very large EU commercial investment company is worried about public image.
Of course, there is no legitimate cause to terminate our contract but we won't have a hostile landlord. We'll probably settle and allow them to break the contract if they choose. I do think we need to take extra steps to prevent money laundering until legislation sets guidelines. I'm a little worried that the banks are blockading legislation because they feel their power and money are threatened by a competing digital payment system.
These problems are because the EU and the Netherlands have not made any attempt to define or legislate digital currencies, we're talking 8 years after the release of Bitcoins. When they are legally defined and regulated, they will gain legitimacy on a much larger scale and banks will not be able to universally deny business banking services if they deal in Bitcoin or other digital currencies.
I've been in contact with a few law firms for help, but I have yet to find one that doesn't try to milk me for every euro I have. Any suggestions?
Of course, there is no legitimate cause to terminate our contract but we won't have a hostile landlord. We'll probably settle and allow them to break the contract if they choose. I do think we need to take extra steps to prevent money laundering until legislation sets guidelines. I'm a little worried that the banks are blockading legislation because they feel their power and money are threatened by a competing digital payment system.
These problems are because the EU and the Netherlands have not made any attempt to define or legislate digital currencies, we're talking 8 years after the release of Bitcoins. When they are legally defined and regulated, they will gain legitimacy on a much larger scale and banks will not be able to universally deny business banking services if they deal in Bitcoin or other digital currencies.
I've been in contact with a few law firms for help, but I have yet to find one that doesn't try to milk me for every euro I have. Any suggestions?
I'm a newb when it comes to this but can't you develop a counterfeit checker like they have at cash registers when you pay with bills of €50,- they check to see if its not counterfeit? Could you not develop a same type of machine and apply it to the ATM which then also reads the code written on the paper so people can't replace the bills after the counterfeit check?
>insert money into counterfeit checker.
>Checker verifies the legitimacy and reads the unique code of each bill and sends those trough a list of the codes to the ATM
>Checker gives back the money to the individual
>Individual now inserts the money into the BTC ATM which has a list of the clients codes of the €bills he wants to spend.
>BTC ATM reads these codes and any money that does not fit these codes gets spewed back.
>Money that does fit the list of codes gets converted into BTC.
Is that a helpfull suggestion? Maybe you could even build it to the point that the person doesn't get the opportunity to insert money twice. So basically building an intergrated counterfeit checker into the Bitcoin ATM.
