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New York to impose licensing requirements for bitcoins/virtual currencies


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"...proposing to issue a "BitLicense" that would protect consumers, prevent money laundering and enforce cyber security."

 

I love how the writer doesn't even get past the first sentence and has to mention how the law will 'protect' the little people.

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I haven’t had a chance to read up on this in depth; but I believe this is a good thing, because the USA will fall way behind other countries in Bitcoin use and innovation.  The last thing I want is the corrupt evil empire that is the USA being propped up by Bitcoin.  I feel the real action will be in emerging markets with strong grey/black market activity.

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That's great they may as well just draw a big target on their back and say bitcoin not allowed in New York. I mean how many small innovative startups are going to start in New York using bitcoins?
 
I know the answer! not a single single one.
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I haven’t had a chance to read up on this in depth; but I believe this is a good thing, because the USA will fall way behind other countries in Bitcoin use and innovation.  The last thing I want is the corrupt evil empire that is the USA being propped up by Bitcoin.  I feel the real action will be in emerging markets with strong grey/black market activity.

You have too much faith in the virtue of other nations, but I can't argue that the USA is becoming more evil.  The only good news is that virtue and virtuous people stand out the worse things get.

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You have too much faith in the virtue of other nations, but I can't argue that the USA is becoming more evil.  The only good news is that virtue and virtuous people stand out the worse things get.

I don't have faith in other nations; its just, in general, the other governments are weaker and don't have the ability to do evil on a global scale.  How many countries can drone bomb the other side of the world, or contribute billions of dollars to prop up corrupt regimes?

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