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Does anyone here use Bitcoins?

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Renegade:
Looks like once again we have the good people of Iceland setting an example for the rest of us:

https://lamassu.is/

This is the Bitcoin Machine. Here's how it works:


* Scan your Bitcoin QR code.
* Insert cash.
* You have bitcoins! Buy yourself something pretty.
--- End quote ---



But, as you would expect, problems for those in the US:

If you are located in the US, we require a signed due diligence questionnaire prior to shipping.
--- End quote ---

Still, it's encouraging to see more people innovating in the alternative crypto-currency space.

Renegade:
It mostly speaks for itself. More nonsense and silliness.

http://www.forbes.com/sites/kashmirhill/2013/08/12/every-important-person-in-bitcoin-just-got-subpoenaed-by-new-yorks-financial-regulator/

Every Important Person In Bitcoin Just Got Subpoenaed By New York's Financial Regulator

Things are getting serious for Bitcoin this month: a federal judge declared it real money, Bloomberg gave it an experimental ticker (XBT), and New York’s financial regulator announced an interest in regulating it. Declaring Bitcoin “a virtual Wild West for narcotraffickers and other criminals,” the New York State Department of Financial Services is stepping into the sheriff’s boots.

“We believe that – for a number of reasons – putting in place appropriate regulatory safeguards for virtual currencies will be beneficial to the long-term strength of the virtual currency industry,” said NYSDFS superintendent Benjamin Lawsky in a statement.

...

List of companies subpoenaed by the New York State Department of Financial Services


* BitInstant
* BitPay
* Coinabul
* Coinbase Inc.
* CoinLab
* Coinsetter
* Dwolla
* eCoin Cashier
* Payward, Inc.
* TrustCash Holdings Inc.
* ZipZap
* Butterfly Labs
* Andreesen Horowitz
* Bitcoin Opportunity Fund
* Boost VC Bitcoin Fund
* Founders Fund
* Google Ventures
* Lightspeed Venture Partners
* Tribeca Venture Partners
* Tropos Funds
* Union Square Ventures
* Winklevoss Capital Management

--- End quote ---

"Bloomberg gave it an experimental ticker (XBT)" - Huh? Does anyone happen to know what "X" means there? They're full of it. It's a mockery.

"We believe that..." blah blah blah. It would have been more intelligent to start vomiting half-digested horse manure after that point.

TaoPhoenix:
Hmm. This feels different.

So it really kicked off about 2010 after a couple of years of concept demos etc.

Three years is a long time. "Suboenas are "instant" - random bits of paper. Last I knew there isn't exactly a super-event in Bitcoin that signaled Things Must Change.

So after random round-tables, *now* they decide to basically do a tombstone piledriver on the entire industry?!

This really is the fight-back of the Jocks vs the Nerds again. Even with flaws, the concept of Bitcoin is brilliant. Subpoenas are Muscle.

40hz:
This really is the fight-back of the Jocks vs the Nerds again. Even with flaws, the concept of Bitcoin is brilliant. Subpoenas are Muscle.
-TaoPhoenix (August 13, 2013, 01:43 PM)
--- End quote ---

Pretty much...

Thou shalt not create your own currency.

For whatever reasons (some bad and a few good) that's simply not the way it's done. Period.
It has been tried previously. And the official reaction was much the same.

This is just like watching any other summer rerun...

wraith808:
The questionnaire doesn't seem to over the top... except one question about consenting to a background check. 

But I get it after doing a bit of research:
An ATM regulation from 2006 stems from the Patriot Act concerning background checks and money wire transfers. If someone has a felony on their record, they cannot operate an ATM in the USA because an ATM conducts wire transfers from a bank account. People with a felony record cannot legally operate or even legally fill an ATM with money.

A background check must now be run by the processing networks before an ATM is allowed on the network to make sure the law is followed. If someone thinks they may not pass a background check because of a felony record, maybe a spouse or business partner can. As stated above, anyone with a felony cannot own a machine or load money into the machine, this includes an individual performing administrative duties inside the machine. An ATM falls under the wire transfer regulations for banking which are part of the Patriot Act.

--- End quote ---

So I guess this would be considered an ATM machine, and we fall under the glorious Patriot Act.

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