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Does anyone here use Bitcoins?
Renegade:
Someone "forked" the NY regs on Github. ;)
https://github.com/onenameio/proposed-bitlicense-regulations
wraith808:
Regulating Bitcoin means having a hand in the actual coding of it and writing code and then being able to convince everyone in the Bitcoin economy (or 51%) to accept your version of it.
-Renegade (July 18, 2014, 11:02 AM)
--- End quote ---
Actually, this I will disagree with. Effective regulation- yes. But you can regulate without it being effective in and of itself- other than a yardstick for prosecution and persecution.
SeraphimLabs:
Aaaaaaand...
Texans flip NY the finger:
http://www.movetoaustin.io/
15 Reasons For Bitcoin Startups To Move From New York To Austin
--- End quote ---
More at the link.
Like I said... NY is hanging itself.
-Renegade (July 18, 2014, 11:27 AM)
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Tell me about it. I live there.
NY used to be the empire state.
Now its a state of empty business lots and chronic recessions. Businesses are leaving New York as fast as they can pack up and move elsewhere.
The taxes are too high, the red tape too thick. There is no good reason to put a business in New York, and plenty to be elsewhere.
On the other hand, my startup in New York does accept bitcoin and select altcoins as a method of payment. For small businesses bitcoin could be a huge savings- because the transaction fees are a tiny fraction of what a credit card processor would take. In a service business that typically does small transactions, the savings could become enormous and really boost the bottom line.
Renegade:
Regulating Bitcoin means having a hand in the actual coding of it and writing code and then being able to convince everyone in the Bitcoin economy (or 51%) to accept your version of it.
-Renegade (July 18, 2014, 11:02 AM)
--- End quote ---
Actually, this I will disagree with. Effective regulation- yes. But you can regulate without it being effective in and of itself- other than a yardstick for prosecution and persecution.
-wraith808 (July 18, 2014, 03:24 PM)
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I'm not sure what you're saying. Do you mean that some state could say that, for example, no cryptocurrency may use anything other than encryption algorithm ABC, and that using a CC without that is punishable by XYZ? Then people would ignore that and they could then prosecute? A regulation like that would be absurd as it would try to target code with no teeth...
I can see that point.
But it's about as sane as setting regulations on what kind of light the sun should emit, then fining people for using sunlight that isn't compliant.
While it is "possible", I'm not sure how realistic/practical it is (absent a totalitarian world government). It would be far easier to simply regulate what people do with Bitcoin rather than try to regulate the unregulateable. At least that way the legislators don't look like total retards.
But, you never know... Spanish legislators have levied a tax on the sun. So, I think we can safely assume that there is no glass ceiling on the level of utter idiocy in government. Still... That kind of stuff is pretty extreme.
40hz:
Fun Fact:[/b] The post on alcoholic ginger ale I did in large part because it undermines the state. Alcohol is heavily taxed and regulated, and I wanted to put out a method by which people could get around the state and taxation. That post was purely for the sake of undermining the establishment/state. I blogged about it a while back here. But, you probably already figured that one out as it's pretty obvious.
-Renegade (July 18, 2014, 11:02 AM)
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Must have missed that bit of 'obvious' because homebrewing in the US is a legal non-issue. But thanks just the same. :)
On the federal level (and in most states) making your own wine has been completely legal since prohibition was repealed in 1933. Beer was inadvertently left out of the wording of the 21st amendment so there was some question about it in certain places up until 1978. However, home brewing was officially made legal in 1979 thanks to Jimmy Carter. Some states dragged their feet about reconciling their local laws with the federal rule, which unfortunately left homebrewing in a legal gray area in a few places. Primarily in the deep south (i.e. Mississippi and Alabama). But that changed in 2013 when those last two holdouts formally legalized home brewing. In theory production is restricted to an 200 gallons per household annually for personal consumption. But as long as you're not selling any of it, nobody pays that rule much attention.
8)
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