Should those inside New York State be red-lined from the world of Bitcoin?

ivonna

full member

Activity: 139

Merit: 100

www.secondstrade.com - 190% return Binary option

I think that would be a bad idea. It would do nothing more then limit growth in the bitcoin economy. Plus the fact that bitcoin is fungible would essentially make this impossible.

franky1

legendary

Activity: 4424

Merit: 4794

all lawsky cares about is getting a fat bonus by suddenly getting hundreds/thousands of businesses paying him money for a sheet of paper to say they are licenced.

so my businesses have already blocked IP addresses that are geo-taged as being new york based, as i know if implemented. Lawsky will, as a "resident" of new york would seek out ALL bitcoin businesses around the world, do a transaction with them. and then send them a message that he has evidence that they are illegally trading with new york, and threaten them with expensive court fines, unless they pay him for the licence.

Slingshot

sr. member

Activity: 616

Merit: 250

Slingshot

sr. member

Activity: 616

Merit: 250

Should New York State & all therein be red-lined (mostly isolated) from the world of Bitcoin?

RE: the pending NY DFS proposed BITLICENSE Regulatory Framework for Virtual Currency Firms
http://www.dfs.ny.gov/about/press2014/pr1407171.html

My Own Conclusion:
-----------------------

We must mostly isolate, by red-lining all parties, with few exceptions, within the state of New York, from doing
any and all business with the rest of the world of Bitcoin. Furthermore the only exceptions should be when & where
there are no onerous Bitcoin regulations there of.

This will in turn nullify the NY DFS from their vastly overreaching attempts to force regulations past their own
boundaries (turf) that is only the state of New York.

Companies now located in New York state should quickly make public announcements that they will support this
effort by relocating before the end of 2014 their businesses, to other locations outside New York state's jurisdictions.

Certain likely exceptions: e.g. Bitcoin ETF's and Trusts are NOT likely to be off-limits for almost any investors
from almost anywhere.

Furthermore:
----------------
Other major companies and anyone else is certainly free to do as they please, but they will risk themselves being
suddenly and strongly widely no longer welcome to most others in this global Bitcoin Community should they side
with any onerous regulatory attempts, or possibly even be perceived to professionally benefit from such actions.

This seems to be a logical start to ending all onerous regulation attempts by ruinous powers concerning Bitcoin
and it's future success.

In summary:
---------------
This can be concluded mutually beneficial, or not. It's New York's, NYDFS, & the Fed's choices to make.

An accurate and timely prediction: the legacy institutions will not be the victors should they decide on
more monetary war against Bitcoin.

Recap:
--------
Should New York State & all therein be red-lined (mostly isolated) from the world of Bitcoin?

*Note: There is no changing of one's own vote allowed on this poll.

Topic: Should those inside New York State be red-lined from the world of Bitcoin? (Read 838 times)