Jonathan,

Thanks for your response.    I'm not trying to discourage new bitcoin businesses but if you are serious about your business you have to at least have to connect it to a real world person.  This give you credibility and also hopefully makes you more accountable.

(ie. Whether or not BFL is a scam - we know who they are and should users chose to do so they can pursue them legally.)



I wrote the following post before reading your response but I'll leave it here for posterity.

Good luck with your endeavor.

BCB



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The problem with too many bitcoiners is they are (probably) well meaning hobbyists who see the limitless possibilities of the protocol (as we all do). But what that fail to realize is that they are essentially opening financial service business which mean you are responsible for the custody of other peoples' funds (not to mention laws and regulation in every country not only in which they operate but in which they also have customers).

And as we've seen toooooo often in the community are Business come along  and provide a popular service that starts on a $5/month shared server that grows to control hundreds of thousand or even millions of dollars of value.

Then it gets hacked, or a nefarious owns absconds with the funds or the inexperienced ownership just make bad business decisions and everyone is FUCKED

See:

Bitcoin Savings and Trust (HA!)
Bitcoinica.com
Mybitcoin.com
bitcoin-24.com
bitmarket.eu
GLBSE.com
CryptoxChange.com
Bitfloor.com

etc.
etc.
etc.

And to my knowledge (to date) not one bitcoin business or business owner has been civilly or criminally prosecuted nor has a DIME of user funds been recovered.  EDIT (sorry in my hyperbole: this may not be true. I do know bitcoin some of these business have returned fiat but to my knowledge much of of the BTC value remains unavailable.)

Wake up people!!!

Bitcoin is not play money.