More trouble for Dash:
You forgot to say "instamine"
First you tried to deny the instamine happened, then you tried to spin it as a good thing.
That didn't work; people still despise Dash for its shady, dishonest, centralized, unfair origin.
Now you want to trivialize the term "instamine" by making it into a joke and wearing out the impact via repetition.
That won't work either.
There are serious, well-armed, highly-motivated people coming who don't play such silly games, but are keenly interested in the original instamine and the compounding interest gained thereof.
Surprisingly, unlike Satoshi, the mysterious creator of the original Bitcoin software who has remained anonymous and therefore outside the reach of law enforcement, the developers of both Dash and Evolution are publicly named, many of whom reside in the United States.
Requirement for Creators to Register with FinCEN
The Financial Crimes Enforcement Network (“FinCEN”) is a bureau of the United States Department of Treasury that is charged with combatting domestic and international money laundering, terrorist financing, and other financial crimes. FinCEN has issued numerous guidance and interpretations of the applicability of regulations implementing the Bank Secrecy Act (“BSA”) to persons creating virtual currencies.
Dash (meaning in this case the new resulting currency itself rather than the software) would likely be considered by FinCEN to be a new convertible virtual currency. FinCEN has made it clear that a creator of such convertible virtual currency, who issues such currency in order to sell those units for either real currency or its equivalent (including presumably an exchange with current bitcoin), is deemed to be a money transmitter. In the case of Masternodes and Evolution, a website names the specific developers who have final say over the currency. The Darkcoin Foundation Inc. development team is also publicly named. Under this approach, the creators of Dash, Masternodes, and Evolution would need to register with FinCEN as a Money Service Business (“MSB”). Failure to register can result in imprisonment of not more than 5 years, as well as civil penalties. 31 U.S.C. § 5330(e) and 31 C.F.R. § 103.41(e); 18 U.S.C § 1960(b)(1)(B). This is in addition to potential state penalties, as certain states also regulate virtual currency creators.
Requirement to Include AML Protocols in Dash, Masternodes, and Evolution
In addition to the registration requirements, an MSB is required to maintain effective anti-money laundering (AML) programs, recordkeeping, and reporting of suspicious activities. In order to do so, the MSB must know who its customers are.
These requirements will require the Dash, Masternode, and Evolution protocol to maintain the personal identifying information of its users. This can presumably be done through the software code, and is similar to the current information and processes currently maintained by exchangers of bitcoin.
The adherence to such requirements will be a large deviation from the current Dash protocol which does not maintain personally identifiable information about its users. The inclusion of such information would make Dash, Masternodes, and Evolution much more accepted by financial institutions, but runs counter to the essence of bitcoin. Bitcoin’s creator designed bitcoin to allow peer-to-peer financial exchange without the use of financial intermediaries and all the complexities involved with such intermediaries, such as identifying the users with mandatory social media accounts.
