Blockchain Bites: BitLicense at 5, Lawsky's Fallacy and ...

Lawsky: Bitcoin Developers and Miners Exempt from BitLicense

Lawsky: Bitcoin Developers and Miners Exempt from BitLicense submitted by cyber_numismatist to Bitcoin [link] [comments]

Lawsky: Bitcoin Developers and Miners Exempt from BitLicense

Lawsky: Bitcoin Developers and Miners Exempt from BitLicense submitted by voyagerdoge to DogeNews [link] [comments]

Lawsky: Bitcoin Developers and Miners Exempt from BitLicense

Lawsky: Bitcoin Developers and Miners Exempt from BitLicense submitted by BTCNews to BTCNews [link] [comments]

Ripple added Benjamin Lawsky as CFO LOL.

Ripple added Benjamin Lawsky as CFO LOL. submitted by EpicTraumatology to btc [link] [comments]

NVIDIA is engaged in a proxy war for future of proof of work. They call it "progPOW" and the first target is Ethereum. We must stop it now before it reaches Bitcoin Cash. [censorship] [conspiracy]

I tried to post this in /ethereum, but was censored. My post was immediately flagged and the /etheruem subreddit moderators told me that I should post it in a mining subreddit. I have reason to believe that the Ethereum foundation, some of the /ethereum moderators, and some Ethereum developers have been compromised by NVIDIA through proxy agents/assets.
Since this subreddit was founded in anti-censorship, I felt it relevant to post here.
Furthermore, Bitcoin Cash will be in danger if progPOW is merged into the Ethereum codebase. If Ethereum forks to this new PoW algorithm, its proponents will use that as an excuse to lobby for its inclusion in Bitcoin Cash.
If you are interested in this topic, bookmark my username ugtarmas and read my previous posts on this topic. I will be posting more.
First up, my previous posts:
Archive: http://archive.is/kK1lE
Archive: http://archive.is/ZikY4
Next up, my post that was censored:
Now that my posts have put me on Kristy's Leigh Anne Minehan's radar, she and her various shills have begun to manufacture a smear campaign against me, and have attempted to implicate my company in "just someone else protecting their hardware investment".
I would like to address this head-on. Neither I, nor my company, have purchased ETH ASICs or any meaningful quantity of AMD GPUs. In fact, I bought over $100,000 worth NVIDIA GPUs {invoices}, and I am still arguing against progPOW.
As I have mentioned in my previous posts, progPOW will not stop ASICs, it will only increase the R&D cost of making them such that only the people closest to the algorithm will benefit. How do I know this? Well, because Kristy is already offering consulting to ASIC manufacturers who have already claimed that ASICs can be 8x faster than GPUs on progPOW.
Kristy and her team will have no shortage of work available helping ASIC manufacturers develop progPOW ASICs, and get paid handsomely for it. She has already proposed to work together with Linzhi. She has already worked on ASIC designs for Genesis Mining, Bitmain, and NVIDIA.
Imagine that you are an ASIC manufacturer and you want to complete with Bitmain, Linzhi, and NVIDIA. You do the R&D, which costs a few million. Then, right before you take your product to market, NVIDIA's influence in progPOW destroys your entire company. Now imagine that this happens to all potential ASIC competitors.
Meanwhile, Kristy's team offers paid consulting for all incumbent ASIC manufacturers. What could have been a healthy and competitive ecosystem is now dominated exclusively by a select few. The push for progPOW is nothing more than a cash grab by special interests. It reminds me of when Benjamin Lawsky pushed for the BitLicense bill, then immediately retired from the public sector and went to work for Ripple/XRP to help the private sector circumnavigate his very own BitLicense.
My only hope is that, before the ETH developers decide on forking to progPOW, they look at more than just its technical aspects, and look at the economic aspects. There are some people out that claim we must judge projects solely by its merits, but doing that misses the bigger picture. progPOW would not exist without the team responsible for making it, who stands to benefit massively from its inception.
Onward:
The connection between Core Scientific, NVIDIA, and progPOW (and possibly CSW/Coingeek)
submitted by ugtarmas to btc [link] [comments]

Opinion: New York is at a defining moment. If they try to be too restrictive then it will lose it's status as the world's financial hub.

They really are at a defining moment. If they try to act too "tough" regarding Bitcoin then it will be the single biggest mistake that state/city ever made.
If they have literal "common sense" then they will lead the world as the world's financial center (as central as a decentralized currency will allow)
They need to understand that they don't regulate Bitcoin, Bitcoin regulates them.
The rest of this year will define the future of New York.
submitted by Logical007 to Bitcoin [link] [comments]

Bruce Fenton advocates a call to arms for the bitcoin community: "civil disobedience against a corrupt regulator!" - x/post from r/bitcoin

Bruce Fenton advocates a call to arms for the bitcoin community: submitted by JoshIsMaximum to Anarcho_Capitalism [link] [comments]

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

Some of the most notable news and events over the past year:
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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)
http://bitcoinfinancialassociation.org/
(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:
http://forums.prohashing.com/viewtopic.php?f=11&t=880
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]

Don't sell due to NY DFS and the BitLicense proposal... Hodl. Show Lawsky and the banks that Bitcoin cannot be stopped... with or without regulation.

The price of Bitcoin is a direct reflection of investor confidence in this technology and the future expectation of its success. If the price continues to fall due to NYC over-regulating it, more and more people will view Bitcoin as not being a legitimate currency. We prove the nay-sayers right when the price is volatile. We hurt self-employed miners (the backbone of this economy) with diminishing returns. We hurt small business and innovation by basically "giving up." Think back to why you invested in this technology. Those reasons are still alive. Want to feel more confident and see how history is repeating itself? Watch YouTube speeches from Bruce Fenton, Rickard Falkvinge, or anything by Andreas Antonopoulos. Anyone expecting a quick return in this disruptive technology needs to rethink their strategy. We won't go to the moon if we give up now. More importantly, we won't get the attention of the mainstream media if the price does not get high enough. Money talks, and if the price stays steady in the wake of all this turbulence caused by regulation, the media will wake up and take Bitcoin even more seriously, thus perpetuating its success. There is so much innovation happening right now, and the smartest minds in the world are contributing, even leaving "dream jobs" to risk it all on Bitcoin. That should tell you something too. So, wait it out for at least a year. Better yet, 3-5 years. This won't happen overnight. I bought in when we were in the 800's and have continued ever since. Haven't seen a profit yet, but I am more confident in Bitcoin than anything I have ever invested in... but it's going to take time to fight these well-established deep-pocketed industries and "old timers" in charge. It will happen. Buy more and Hodl. Lawsky and others will see that they can't keep a good thing down. Nothing is more powerful than an idea who's time has come... and nothing gets more headlines than the price - so don't panic sell. If you've been involved long enough, you'll get familiar with these price swings. It's the long term that trend that should be your guide.
submitted by BitBurst to Bitcoin [link] [comments]

Bitcoin Regulator.. Coinbase Ripple Drama continues ..CKJ Crypto News BFL Responds -- Lawsky’s Terms -- Bitcoin Europe -- Blockchain Wedding The Bitcoin Group #18 (Live) - Mt. Gox (part III ... The Flipside Bitcoin News #5 - Chris Ellis A Cyborg, Mining Farm Up In Flames, Ode to Ben Lawsky Ripple adds Benjamin Lawsky to its Board to help get more Banks to use XRP - Huge Win for Ripple!

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 ... 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 ... June 24, 2020 by Wealthy Miner. 0. SHARES. Share Tweet. Please share if you find this article interesting. Blockchain Bites: BitLicense at 5, Lawsky’s Fallacy and Hehmeyer’s Pivot. Today marks five years of the BitLicense, the controversial crypto safety rail enacted by New York State’s top financial watchdog. In half a decade only 25 licenses have been doled out, including two to a firm ... Bitcoin outflows from miner wallets have spiked, with the majority of coins finding their way onto cryptocurrency exchanges. The net flow of coins into or out of miner addresses fell to -2,935 BTC ... Lawsky also addressed speculation regarding the department’s position on bitcoin mining: “Mining per se will not be regulated. To the extent the miner engages in other virtual currency ...

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Bitcoin Regulator.. Coinbase Ripple Drama continues ..CKJ Crypto News

www.muchbitcoin.org = Learn more about Bitcoin Bitcoin is the first open source, peer to peer, decentralized technology to enable transfer of tamper-proof ow... SUBSCRIBE ! for videos on finance, making money, how to invest and creative ways to acquire passive income ! After 10+ years of investing and saving, I'm here to pass the knowledge onto you ! Ways ... Benjamin Lawsky, Sheriff of Wall Street, is taking off his badge. Pt2 Ripple Welcomes New Board Member, Benjamin Lawsky. Lawsky, the former superintendent of financial services for the state of ... Sponsored by http://CoinHD.com Donate Bitcoins to MadBitcoins https://blockchain.info/address/1LAYuQq6f11HccBgbe6bx8DiwKwzuYkPR3 Join the MadBitcoins Patreon... Pitched the story idea, shot and edited the story for WOOD TV8. Web Story: http://woodtv.com/2014/06/24/bitcoin-new-payoff-for-extortionists/

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