Quote from: oyvinds on July 24, 2014, 12:22:02 AM

Quote from: DoubleSwapper on July 17, 2014, 04:41:48 PM

If somebody is losing something then it is bitcoin which loses all of its functionality with this kind of harsh regulation. Seriously if this regulation is in place using cryptocurrencies like they are supposed to is more or less a crime. I'm asking this because the regulation states that even oversea exchanges have register or block access for NY citizens. I know bfx is sailing under some some obscure flag but whether they like it or not THIS WILL BE OF IMPORTANCE TO THEM.

Hurray for the United States of Fascism and their view that they are all-mighty and entitled to be a world police using their own narrow little laws.

So now every exchange on the planet has to either block "NY citizens" or follow specific laws for that particular asphalt field? Think about how this will play out if other US states introduce their own little laws. What if other countries get the same ridiculous idea? Suddenly BFX will have to follow laws specific to NY, California, then laws made in London, Oslo, Stockholm, Moscow and so on.

I think Bitfinex should give us a response to this given that the United States of Fascism basically owns the NATO Corporation (which is very profitable and has shown that is has no problem using false-flag terrorism and mass-murder to increase it's bottom line numberous times).

The obvious solution would be to simply deny NY customers access to their platform. Another would be to submit to the new NY regulation (which may or may not hurt all users and most BFX users are not from there). What they simply can not and should not do is to keep on serving NY customers and pretend that it will not cause problems down the line.

I am working on a response for this as well, trust me, it is on our radar. The first thing to do in this case, is read the actual PROPOSAL, and then figure out how it would affect us and our customers. Right now, we still have time to chime in with our suggestions and ways that it could be improved. So we won't just issue a knee-jerk reaction to this, and the one thing I do not want to do is spread FUD. To the extent that it is unreasonable, I will call it unreasonable.

If anyone wants to see (so far) my favorite analysis of the legislation I will post the link.
http://two-bit-idiot.tumblr.com/post/92143258184/bitcoin-at-a-crossroads-tackling-the-bitlicense

I am not saying that I fully agree with everything he says, but I do at least appreciate his method of analysis. He is pretty balanced in looking over it. Let me know what you guys think.