Quote from: MilesJohan on October 17, 2014, 04:07:08 AM

Quote from: Argwai96 on October 17, 2014, 02:43:15 AM

Quote from: MicroGuy on October 16, 2014, 03:26:26 AM

Imagine walking up to a New York street vendor in Times Square to purchase a foot-long hot dog and being asked to provide your name and home address. If youre paying with cash, no need to fret. But if youre paying in Bitcoin or some other digital currency, be prepared to answer a series of questions before enjoying your tasty treat.

This is not true. I would consider this to be FUD.

The only reason you would need to provide identification when dealing in bitcoin is if you were exchanging your bitcoin for cash. If you are exchanging your bitcoin for hot dogs, hamburgers, clothing, Giants tickets, or a car, you would not need to present your identification (you might for a car, but this has nothing to do with the fact that you are paying in bitcoin).

The OP/author of the article is seriously misinformed about what the NY regulations are proposing. It is a shame that so many people are able to write "new articles" without doing their due dilligance

This is true. I think that many people just see the word 'regulation' and automatically assume that it will be bad.

Although excessive regulations are always bad, I do not think the NY regulations are 100% negative. As they do have some positives like forcing exchanges to have 100% reserves.

People have no idea how lack of regulation have been running down crypto. Vast majority of existing crypto 'heavy weights' have vested interest in demonizing regulations mainly because it would cut them off from doing their profiteering.

Exchanges have been running on hot air and lack of reserves for too long, and they will be swept aside.