BitLicense: Bitcoin – Regulierung wird lockerer Bitcoin ...

BitLicense isn't bitcoin regulation, it is a de facto bitcoin ban, coupled with the introduction of a whitelist-based altcoin run by governments but utilizing the bitcoin blockchain.

It's tough to accept, but we might be facing the first attempt at seriously enforcing a total ban on all bitcoin transactions. The fact that it will be enforced simultaneously with the introduction of a government-controlled NYCoin just makes it even more dangerous.
This is probably the first time bitcoin has ever been in real danger of being supplanted by something else. NYCoin might become USACoin, which might then merge with ChinaCoin and EUCoin to become something I imagine will commonly be called WhiteCoin - a global surveillance based currency with a worldwide monopoly on trading legal goods and services.
I think it is important that we realize that the BitLicense is what can best be described as an "attack" - a deliberate attempt to hurt bitcoin users - and we should fight back with everything we have. The fact that Ben Lawsky tricked us into thinking his main concern was to ensure a good environment for startups shows that the people attacking us are not holding back, but are willing to use any tricks necessary to crush us.
I can't think of much that can be done right now, but my best bet is that we need to try to attack the value of this WhiteCoin wherever it pops up, NYCoin being the first. It will be tough, and a boycott will not be enough because this is the coin that big money will be investing in.
Perhaps it will be possible for bitcoin users to force miners to choose between mining transactions for one of the two coins, thus making sure that as long as bitcoin is the dominant digital currency by transaction fees, whitecoin transactions will be really slow. We can be absolutely certain the opposite would happen instantly should whitecoin ever become the dominant currency.
submitted by Rune_And_You to Bitcoin [link] [comments]

Bitcoin 2017 a Comprehensive Timeline

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submitted by BitcoinChronicler to btc [link] [comments]

The official bitshares client will be able to send and receive bitcoin from next week! Decentralized bitcoin hedging is here!

I've heard from a bitshares core dev that the shapeshift API will be integrated directly in the official bitshares full node possibly as early as next week, and will also be included in the light wallet (still in beta). This is huge for both bitcoin and bitshares!
This means that you can now use BitShares as a decentralized hedged bitcoin wallet. You can receive bitcoins from an exchange or from your friends, and hold it in bitUSD, and then send it out again to a bitpay integrated merchant, or lighthouse, or a bitcoin debit card or wherever else you want. All done exactly the same way as you send bitcoins normally using normal bitcoin addresses, except that while you hold the bitcoins they are hedged against volatility so if you send in 100 USD worth of bitcoin you will be able to send out 100 USD worth of bitcoin as well at any point in the future. All this is done without counterparty risk, you hold your own private keys at all times, and you need zero AML, zero anti-terrorism anal probes, and there's no way your money can be seized or frozen - just like bitcoin was always meant to be.
It's this kind of feature that is going to make bitcoin go mainstream. If anyone can hold and use bitcoins without having to worry about volatility we will begin to see an increasing amount of people shifting their money into crypto. As bitcoin is the onramp and offramp for all cryptocurrency, and is the payment rails on which cryptocurrency will be spent, the more money that goes into crypto as a whole the more bitcoin benefits. Bitcoin is already the most convenient way to spend your money in the whole world, with the addition of decentralized volatility hedging by consumers there's no reason why all commerce shouldn't go through the bitcoin network. BitUSD itself will never be a threat to bitcoin as a payments system. No merchant is ever going to accept BitUSD since it's so much easier to accept bitcoin since it has all the infrastructure and enables you to accept bitUSD as well, so bitcoin and bitUSD will never have to compete, but can instead grow side by side.
I know there's still going to be plenty of people who insists that bitUSD is a shitcoin and is useless for anything, but i hope some people will be able to realize that it is something that complements bitcoin rather than competes with it, since it will never be able to match the branding and network effect of bitcoin, but can help with consumer adoption.
As the USD starts to seriously tank it will also be possible to hedge your bitcoins to other assets, such as gold (using bitgold), so until bitcoin itself has become big enough to remove volatility there will be plenty of options to enable people to use it without volatility concerns.
The BitShares ecosystem also has a lot more to offer bitcoin as well. Bitshares has blockchain registered names that are compatible with bitcoin addresses (because bitshares uses the same type of private keys as bitcoin), so in the future we might be able to send bitcoins to human readable names instead of incomprehensible public keys, another important step that will help with mainstream adoption.
Another thing are the paid delegates. Bitshares' "miners" get paid a salary in order to improve and develop the system and blockchain. But as bitshares begins to have more money at the disposal of delegates this method of funding can also begin to benefit bitcoin (since bitcoin adoption and merchant acceptance benefits bitshares directly). Instead of having the bitcoin foundation controlling the bitcoin core developers, some of the core developers could be bitshares delegates and be funded in a completely decentralized manner in order to protect and grow both ecosystems. If the cryptocurrency space (and thus also bitshares) grows enough to afford it we could also see things like lighthouse delegates that use their delegate pay to support open source lighthouse projects that benefits both ecosystems - systems like bitsquare are the future for all cryptocurrencies and it is important they are well funded if we are to succeed.
Finally there's the decentralized exchange itself, which is what BitShares was always meant to be (the whole concept was in fact conceived by the lead dev after mtgox had its funds seized in 2013). It's still not widely used, but bitshares has a bitasset for bitcoin as well, called bitBTC. With BitBTC you can trade the price of BTC and USD directly on the blockchain without any sort of counterparty risk, and as soon as you want real bitcoin again you can convert them instantly through a gateway like meta-exchange or shapeshift (if they add bitBTC in the future). The hope is that one day all bitcoin trade can be done entirely without centralized institutions, making the entire cryptocurrency ecosystem completely immune from ben lawsky and regulatory crackdown.
One last thing before someone calls me out on it, regarding the counterparty risk. Since shapeshift has momentary control of your funds it isn't actually completely free from counterparty risk, however the risk is greatly reduced from other systems like coinbase, bitstamp or paypal that just hold all your funds outright. The worst shapeshift can do is to steal the volume they process over a period of time until the community is alerted. Because the payoff is so low you can be guaranteed it will never happen (assuming they seek profit). Lets assume they take 0.1% fees and will be able to steal 1 hours worth of volume before people stop sending them money (there will likely be automatic alert systems in the wallets making the time significantly less). This means that they will at best be able to steal 40 days worth of income, but lose all future income as a result. It should be obvious that this will never be worth it, especially considering the fixed costs they have put into establishing the business.
submitted by Rune4444 to Bitcoin [link] [comments]

Free Membership for Bitcoin Reddit Members to new Bitcoin Financial Association

FREE membership for this community by using coupon code RedditB
(you can also read and sign the open letter about Bitcoin regulation to Ben Lawsky of NY anyone can sign, you dont need to be a member)
(to join click "join", put in the code and thats it, no Bitcoin address or Credit card or anything needed)
Some notes:
- Whats the purpose? Working to educate the public, government officials, charities, businesses and the media about Bitcoin and related technologies.
- Do we compete with the Bitcoin Foundation? Absolutely not - I'm a life member of Bitcoin Foundation and was just invited to join a committee and will do so --- this group wont focus at all on code, blockchain security etc.
Main difference is that our focus will be solely on this type of outreach with media, global central banks etc. we have some solid core members with lots of experience in this - we have some immediate opportunities to meet some key people in the global financial system to help convince them that Bitcoin should be welcomed and so this setup made sense.
Central voices are bad, there is no need for any Bitcoin groups
Perhaps, but if we dont have some voices made up of multiple people it is very difficult to get banks, regulators etc. to listen (some are fine with that - but we feel its best to engage and educate and show them advantages rather than make enemies) -- also, the media will go to whatever source is easiest. Professor Williams from the NY hearings is actively working to promote himself as a Bitcoin expert- we think a counter balance is helpful and this is most easily done with some kind of banne catch all group. There WILL be voices...if not from this community then from people like Williams.
What will membership include and what will the site have?
This is brand new, 2nd day of beta, the site is definitely under construction --- we will tighten it up but we did want to let Reddit and a couple other circles have a sneak peek.
We will definitely never spam people or share your name.
In coming days and weeks we will add a lot of functionality, areas where experts can be contacted by the media, a speaker bureau etc.
*We will also be hosting a conference in Dubai in Q4! *
Who is it? We’ve got about 100 members already.
Founding members who put it together are: me, David Monrus, a tech entrepreneur, Greg Simon a former banker who was on the econ panel in Miami, Raj Mehta, a former hedge fund manager, Aaron Perry COO of Joe Perry’s Rock Your World (the Aerosmith guitarist’s company) , Makki Al Kurdi, a miner from the Gulf and some others. We’re having some nice conversations from some big names in the space both individually and corporate and I’m sure many will join in the coming months as this is running.
We will need some membership ambassadors, content contributors and others.
We are not doing this for profit -- we are all volunteers and we are donating all initial funding - its not perfect and we hope we will get lots of offers to help. We are sure we can do some good for Bitcoin and related tech.
Thanks very much!!
submitted by bruce_fenton to Bitcoin [link] [comments]

Please allow me to shed some light on ignorance....

I am going to point out a grave injustice in regard to logic so that each of use may judge for ourselves the credibility of this author. I'd make this post in /btc but alas I am always getting censored from that sub.
This player below wants to make a comparison between leaders of the EU or Regulators from the US to bitcoin's Core dev team:
In bitcoin, the chasm between the "experts" and the ordinary users is even wider than that between Lawsky and cryptocurrency businesses, or between EU regulators and the British people. In bitcoin, the "experts" consist of three classes: the Core developers, the miners, and the off-chain speculators.
The problems with the Core development team are well-known. The Core has gone off the rails
Now, how does this player get away with such a comparison? What is with "scare" quotes and the word "expert" that makes what the author feels is an airtight comparison?
The author has forgotten a word, perhaps conveniently, or perhaps in some Freudian manner, which is: Authority.
Bitcoin core, ARE the experts, they are the experienced, they have all the best networks, they are the most involved, and they have the greatest incentive for bitcoin to succeed.
This is not AT ALL true, in regard to , for example, Ben Lawsky, and his role as a US government representative, in regulating bitcoin. Do ANY of us think these roles are comparable?
The author is attempting to conflate AUTHORITY, in which there are two distinct definitions:
1) the power to give orders or make decisions : the power or right to direct or control someone or something
2) an individual cited or appealed to as an expert
The former definition is comparable to the EU leaders and Ben Lawsky. The latter definition describes actual experts, not "experts", and is not at all comparable to a person such as Lawsky or an EU leader in regard to economics and/or crypto.
To conflate these two divisions and archetypes, and to suggest that we should not be deferring our attention to knowledge players and experts the field is to act against the community, against our civilization's progress, and is a deceleration of maliciousness and ignorance.
submitted by pokertravis to Bitcoin [link] [comments]

Ripple/XRP-Ben Lawsky And Bitcoin Dominance - YouTube Ben Lawsky releases BitLicense at the BITS Emerging Payments Forum (full video) What is Bitcoin Mining?  Bitcoin Mining Explained  How ... BFL Responds -- Lawsky’s Terms -- Bitcoin Europe -- Blockchain Wedding BitLicense Will Publish End of October, NYDFS Ben Lawsky Will Keynote Money2020 Early November

Developers, miners and individuals using bitcoin will generally not be regulated by the impending ‘BitLicense’ proposals, according to Benjamin Lawsky, superintendent of the New York Department Financial Services (NYDFS). Speaking at the Benjamin N Cardozo School of Law, New York, Lawsky[1] clarified that many individuals and companies working within the bitcoin space will not need ... Ben Lawsky. Developers, miners and individuals using bitcoin will generally not be regulated by the impending ‘BitLicense’ proposals, according to Benjamin Lawsky, superintendent of the New York Department Financial Services (NYDFS). Speaking at the Benjamin N Cardozo School of Law, New York, Lawsky clarified that many individuals and companies working within the bitcoin space will not ... Ben Lawsky hat die Chance, eine Figur in der Geschichte zu werden, die bei der Einführung eines Wirtschaftsbooms maßgeblich war. #bitcoin - BitcoinBreak (@BitcoinBreak) 28. Januar 2014. Lawsky hat diesen Respekt durch seine gemessenen Worte und vorsichtigen Handlungen auf Bitcoin bis heute verdient, und viele sind für ihn verwurzelt, um letztlich einen lichthändigen Ansatz zu nehmen ... Das New Yorker Department of Financial Services (DFS) hat den Vorschlag für die Bitcoin – Regulierung, der als BitLicense bekannt ist, aktualisiert. Ben Lawsky, der erste Superintendent der neuen Abteilung, hielt eine Pressekonferenz über die Zukunft des Zahlungsverkehrs, die Erörterungen der Änderungen und beantwortete viele weitere Fragen, die die finanzielle Aufsichtsbehörde in New ... Jun 12, 2015 - Ben Lawsky is having a hard time winning over the bitcoin crowd. ShapeShift, a Switzerland-based exchange for digital currencies, slammed the outgoing...

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Ripple/XRP-Ben Lawsky And Bitcoin Dominance - YouTube

Sponsored by Donate Bitcoins to MadBitcoins Join the MadBitcoins Patreon... Arnold Schwarzenegger This Speech Broke The Internet AND Most Inspiring Speech- It Changed My Life. - Duration: 14:58. Alpha Leaders Productions Recommended for you Ben Lawsky of the New York Department of Financial Services NYDFS has proposed some very onerous and extreme regulations surrounding Bitcoin which amount to essentially a ban on ideas, technology ... Tips: 12eoi6UpXvERzycaZiENfZ563FMTf8H76S Episode 05: Australian authorities are set to auction off 24 and a half thousands bitcoins that they seized in 2012 ... Live Bitcoin Liquidation Watch: June 1 2020 IntroToCryptos 206 watching Live now Kayleigh McEnany explains what it will take to stop antifa - Duration: 7:26.