Regulatory Proposal for Bitcoin | Bitcointalksearch.org

ATC777

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Quote from: CountSparkle on December 25, 2012, 04:28:35 PM

Quote from: edd on December 24, 2012, 07:50:18 PM

It might be more desirable to simply publish a "Bitcoin Business Code of Ethics" consisting of a generalized checklist of what to look for in an honest business. Companies can post the checklist on their sites and indicate and demonstrate what portions they comply with.

Find a place to host it, and get right on it!

I'm down.

CountSparkle

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Quote from: edd on December 24, 2012, 07:50:18 PM

It might be more desirable to simply publish a "Bitcoin Business Code of Ethics" consisting of a generalized checklist of what to look for in an honest business. Companies can post the checklist on their sites and indicate and demonstrate what portions they comply with.

Find a place to host it, and get right on it!

ATC777

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Quote from: Chief Satangkai on December 24, 2012, 07:23:25 PM

Quote from: ATC777 on December 24, 2012, 05:36:25 PM

By "unethical" or "immoral" I mean fraud, scams, et cetera. Selling people junk investments and failing to disclose what they're actually buying. Accepting payment and not shipping the goods. I'm sure all of us can agree those things are unethical and immoral business practices.

I see your point but many users of this great currency agrees that regulation, monitoring, or enforcement of rules
in any form is a bad thing. The bitcoin business should not be bound by any ethics! One must remember that bitcoin was
originally designed from the outset to route around centralized and authoritarian interference. I like most of the stuff
you propose but it's the idea of having a "group" that monitors what's ethical and morally just that scares me... Undecided

Well, that's not really what I'm proposing... I'm proposing multiple, open groups that disseminate information about the perpetrators of bad business practices (e.g., fraud) and can verify track-records of doing good business to help consumers know more about who they're dealing with. Such groups would not have any enforcement power over anyone, no more than freecreditreport.com can arrest you and put you in prison...

Quote from: edd on December 24, 2012, 07:50:18 PM

It might be more desirable to simply publish a "Bitcoin Business Code of Ethics" consisting of a generalized checklist of what to look for in an honest business. Companies can post the checklist on their sites and indicate and demonstrate what portions they comply with.

That's more or less what I'm talking about! "We meet the XYZ Standard because ..." Cheesy

edd

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Quote from: ATC777 on December 21, 2012, 12:55:57 AM

4) Business Regulatory Codes

In addition to the aforementioned consumer safe-guards, members of the Bitcoin community should work together to create sets of regulatory code for Bitcoin businesses. Since it is a free market we cannot force people to follow these so-called "regulations" and "codes". But what we CAN do is reward the companies who DO. The carrot > the stick... If we provide incentive for ethical business practices and good conduct we make the Bit-conomy safer and more stable. One very basic way of doing this is by providing community-based "seals of approval" or "licenses" for businesses and individuals who stick to "the code" and do things right. Consumers will take notice and opt for businesses who are doing the right thing, and those businesses will be rewarded with more profit.

It might be more desirable to simply publish a "Bitcoin Business Code of Ethics" consisting of a generalized checklist of what to look for in an honest business. Companies can post the checklist on their sites and indicate and demonstrate what portions they comply with.

Chief Satangkai

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Quote from: ATC777 on December 24, 2012, 05:36:25 PM

By "unethical" or "immoral" I mean fraud, scams, et cetera. Selling people junk investments and failing to disclose what they're actually buying. Accepting payment and not shipping the goods. I'm sure all of us can agree those things are unethical and immoral business practices.

I see your point but many users of this great currency agrees that regulation, monitoring, or enforcement of rules
in any form is a bad thing. The bitcoin business should not be bound by any ethics! One must remember that bitcoin was
originally designed from the outset to route around centralized and authoritarian interference. I like most of the stuff
you propose but it's the idea of having a "group" that monitors what's ethical and morally just that scares me... Undecided

ATC777

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Quote from: Chief Satangkai on December 24, 2012, 06:48:48 AM

Hmm... "look out for unethical, immoral and/or harmful business practices..." Who decides what is unethical and immoral ?
What if someone wants to buy heroin, kiddieporn, pay a contract killer or buy a prostitute using bitcoin? We can´t let the
"moral majority" or any regulatory policy group set the rules when it comes to the use of bitcoin. It´s a dangerous path... Cool

By "unethical" or "immoral" I mean fraud, scams, et cetera. Selling people junk investments and failing to disclose what they're actually buying. Accepting payment and not shipping the goods. I'm sure all of us can agree those things are unethical and immoral business practices.

If someone wants to do heroin it's no concern of mine. I don't decide if that person can handle the drug, and using it only hurts them... If that person steals my Mercedes to buy a bunch of heroin (and survives to tell the tale) then that is a crime, called theft. And I believe that it's not even the government's job to worry about the first thing (drug use, prostitution, et cetera) -- they need to be worried about the second thing (real crimes).

CountSparkle

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Quote from: marcus_of_augustus on December 23, 2012, 05:10:10 PM

Quote from: CountSparkle on December 23, 2012, 03:33:50 AM

Quote from: marcus_of_augustus on December 21, 2012, 06:38:29 PM

Ratings services and agencies. Lots of them, the more competitive, brash, intrusive and scathing the better. Holding the bastards feet to the fires. Ruthless routing out of incompetence and corruption is one of the free market's strengths.

What is it you are looking for with regards to the rating services?

Someone who could give pirate@40 bonds a junk (or ponzi) rating would be a good start ... and have the analysis available to back the ratings up if need be.

So, a trusted third party that can rate someone without actually having direct dealings with them... Thanks. I'll make sure to include that.

Chief Satangkai

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Quote from: Foxpup on December 24, 2012, 08:41:05 AM

He's talking about business practices

Yes i get that but skip the "immoral" bit since there are no "immoral" business in reality. I am OK
with the harmful or even "unethical" bit. It all depends on where you stand philosophcally... Wink

Foxpup

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Vile Vixen and Miss Bitcointalk 2021-2023

Quote from: Chief Satangkai on December 24, 2012, 06:48:48 AM

Hmm... "look out for unethical, immoral and/or harmful business practices..." Who decides what is unethical and immoral ?
What if someone wants to buy heroin, kiddieporn, pay a contract killer or buy a prostitute using bitcoin? We can´t let the
"moral majority" or any regulatory policy group set the rules when it comes to the use of bitcoin. It´s a dangerous path... Cool

He's talking about business practices, not the nature of the business itself. For example, if I pay a contract killer to kill my wife, and he just takes my money without killing her, that would be a breach of contract (which is unethical), and I have a right to complain about his business practices. Frauds such as these are far too common in Bitcoinland, and we must put a stop to it!

Chief Satangkai

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Hmm... "look out for unethical, immoral and/or harmful business practices..." Who decides what is unethical and immoral ?
What if someone wants to buy heroin, kiddieporn, pay a contract killer or buy a prostitute using bitcoin? We can´t let the
"moral majority" or any regulatory policy group set the rules when it comes to the use of bitcoin. It´s a dangerous path... Cool

claire

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Capitalism rocks my world.

and here we begin the BBG - the bitcoin bilderburg group, or however you spell it.

marcus_of_augustus

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Eadem mutata resurgo

Quote from: CountSparkle on December 23, 2012, 03:33:50 AM

Quote from: marcus_of_augustus on December 21, 2012, 06:38:29 PM

Ratings services and agencies. Lots of them, the more competitive, brash, intrusive and scathing the better. Holding the bastards feet to the fires. Ruthless routing out of incompetence and corruption is one of the free market's strengths.

What is it you are looking for with regards to the rating services?

Someone who could give pirate@40 bonds a junk (or ponzi) rating would be a good start ... and have the analysis available to back the ratings up if need be.

inbox

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.

CountSparkle

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Quote from: marcus_of_augustus on December 21, 2012, 06:38:29 PM

Ratings services and agencies. Lots of them, the more competitive, brash, intrusive and scathing the better. Holding the bastards feet to the fires. Ruthless routing out of incompetence and corruption is one of the free market's strengths.

What is it you are looking for with regards to the rating services?

ATC777

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Quote from: marcus_of_augustus on December 21, 2012, 06:38:29 PM

Ratings services and agencies. Lots of them, the more competitive, brash, intrusive and scathing the better. Holding the bastards feet to the fires. Ruthless routing out of incompetence and corruption is one of the free market's strengths.

+1 for you, sir! You must have a lot of free enterprise in your local tap water! Cheesy

Quote from: Adrian-x on December 21, 2012, 06:05:55 PM

Who is "we"?

My company... we're a small conglomerate (type-S corporation) based in Baton Rouge, LA (USA)...

Regards,

--ATC--

marcus_of_augustus

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Eadem mutata resurgo

Ratings services and agencies. Lots of them, the more competitive, brash, intrusive and scathing the better. Holding the bastards feet to the fires. Ruthless routing out of incompetence and corruption is one of the free market's strengths.

Akka

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Quote from: ATC777 on December 21, 2012, 12:55:57 AM

3) Watchdog Groups

The Bit-conomy also needs so-called "watchdog groups". These would be private groups with the sole mission to monitor the conduct of businesses and individuals in Bitcoin commerce. Their job would be to sniff out frauds, scams and con artists and look out for unethical, immoral and/or harmful business practices. When any such malicious behavior is spotted, watchdogs would report their findings (along with the hard evidence they've gathered) to the community and media. Such organizations can raise money through donations, advertising and other honest venues.

I think I know just the right people to do this and they will even do it for free.

Adrian-x

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Quote from: ATC777 on December 21, 2012, 04:51:47 PM

...But we can't do it all!

Who is "we"?
And if anything really needs some doing, some one will find a way to do it and make it mutually beneficial. If it isn't you who figures it out, who will? (Just making the post gives you a head start)
No one is going to pay for a service they don't need and no one is going to voluntarily pay a tax for a service they think they may need. I don't mean to discourage but rather encourage you to find a solution you are close but you need to think about the stake holders a little more. Think P2P SSL Certificates or wallet ID's or something (no need to rate my ideas they not proposals)

Appealing to investors is one option, but you need a solution first.

ATC777

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Quote from: Adrian-x on December 21, 2012, 01:14:01 PM

I think you have at least 4 ideas there that fulfill a need.
Your job is to find a way to satisfy the need (or at least one of them) and design a business that can sustain you in the manner you think you deserve, that would be the free market solution and taking advantage of the opoopo you see.

My company is going to work very hard to expand the Bitcoin economy, because we want to take this technology to the mainstream. But we can't do it all!

Adrian-x

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I think you have at least 4 ideas there that fulfill a need.
Your job is to find a way to satisfy the need (or at least one of them) and design a business that can sustain you in the manner you think you deserve, that would be the free market solution and taking advantage of the ~~opoopo~~opportunity you see.

Topic: Regulatory Proposal for Bitcoin (Read 2536 times)