Author Topic: Ripple News  (Read 4996 times)

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Offline Fox

In the event that Invictus is fined it will not impact the future of BitShares, it will only impact my own personal financial situation.   I suspect that this community would have my back and we will all move past it.

There is nothing to fear except fear itself.


Yup, there I am.

No, in the back behind the scenes. That's me. Not a Super Hero; just keeping the network running for this community. Now get out the vote won't ya! 
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Offline merivercap

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In the event that Invictus is fined it will not impact the future of BitShares, it will only impact my own personal financial situation.   I suspect that this community would have my back and we will all move past it.

There is nothing to fear except fear itself.



Or more like this....   BTW doesn't this look like our 101 delegates?

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Offline liondani

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This is an example of where doing too much under one company is a problem, but spreading the tasks among 100's of people becomes ok because the tasks individually are completely legal.

So we can pretend that the current code/work is a task splited equally to the 101 active delegates...
can you virtual-simulate this on github? :P  (we just need a bunch of new github accounts)

Offline roadscape

In the event that Invictus is fined it will not impact the future of BitShares, it will only impact my own personal financial situation.   I suspect that this community would have my back and we will all move past it.

There is nothing to fear except fear itself.


+5%

Interestingly there actually is NO explicit order matchin in BitShares .. if you take a look at the blockchains there are ONLY asks and bids .. no matches ... the order matchin happens in every (full) client!!! .. its part of "the protocol" .. not the blockchain :D
  8)
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Offline xeroc

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Don't be too optimistic about this. http://www.coindesk.com/fincen-rules-bitcoin-payment-processors-exchanges-money-transmitters/
"In a response to twin letters submitted in late 2013, the chief US money laundering and terrorist financing regulator explained that bitcoin exchanges may be money transmitters, even if they only match buyers and sellers on their platform. Further, the letters suggest this is true, even if the exchanges behave more like traditional securities or commodities exchanges, where no money is transferred between the company and any counterparty."
When they decide to enforce the rules, whatever you say is in vain. They have the final explanation of the rules they set. Whether fiat is involved or not does not matter. Whether you run the nodes or not doesn't matter either, if only they find you "facilitated" the transmission process.
Interestingly there actually is NO explicit order matchin in BitShares .. if you take a look at the blockchains there are ONLY asks and bids .. no matches ... the order matchin happens in every (full) client!!! .. its part of "the protocol" .. not the blockchain :D

Offline lovejoy

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In the event that Invictus is fined it will not impact the future of BitShares, it will only impact my own personal financial situation.   I suspect that this community would have my back and we will all move past it.

There is nothing to fear except fear itself.


Offline kenCode

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"In a response to twin letters submitted in late 2013, the chief US money laundering and terrorist financing regulator explained that bitcoin exchanges may be money transmitters, even if they only match buyers and sellers on their platform. Further, the letters suggest this is true, even if the exchanges behave more like traditional securities or commodities exchanges, where no money is transferred between the company and any counterparty."
When they decide to enforce the rules, whatever you say is in vain. They have the final explanation of the rules they set. Whether fiat is involved or not does not matter. Whether you run the nodes or not doesn't matter either, if only they find you "facilitated" the transmission process.

EXACTLY!
I've got a couple of ideas that NEED to be implemented:
https://bitsharestalk.org/index.php/topic,16199.msg207356.html#msg207356
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Offline yellowecho

^ Try enforcing that overseas. From a legal standpoint, BitShares is Chinese.
696c6f766562726f776e696573

Offline fuzzy

Don't be too optimistic about this. http://www.coindesk.com/fincen-rules-bitcoin-payment-processors-exchanges-money-transmitters/
"In a response to twin letters submitted in late 2013, the chief US money laundering and terrorist financing regulator explained that bitcoin exchanges may be money transmitters, even if they only match buyers and sellers on their platform. Further, the letters suggest this is true, even if the exchanges behave more like traditional securities or commodities exchanges, where no money is transferred between the company and any counterparty."
When they decide to enforce the rules, whatever you say is in vain. They have the final explanation of the rules they set. Whether fiat is involved or not does not matter. Whether you run the nodes or not doesn't matter either, if only they find you "facilitated" the transmission process.

So funny that they are protecting us from the "terrorists" they create and arm with the money they steal from tax payers...oh the irony.
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Offline bigcat

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Don't be too optimistic about this. http://www.coindesk.com/fincen-rules-bitcoin-payment-processors-exchanges-money-transmitters/
"In a response to twin letters submitted in late 2013, the chief US money laundering and terrorist financing regulator explained that bitcoin exchanges may be money transmitters, even if they only match buyers and sellers on their platform. Further, the letters suggest this is true, even if the exchanges behave more like traditional securities or commodities exchanges, where no money is transferred between the company and any counterparty."
When they decide to enforce the rules, whatever you say is in vain. They have the final explanation of the rules they set. Whether fiat is involved or not does not matter. Whether you run the nodes or not doesn't matter either, if only they find you "facilitated" the transmission process.

Offline yellowecho

Since we have not received anything I can post that we have not received anything.
:P
696c6f766562726f776e696573

Offline fuzzy

I would like to focus on this in the conversation tomorrow if you are ok with it.  This could be a teaching moment.
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Offline cass

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Thanks for clarification!
Good points!

And yes BitSharesX was launched by DACunlimited and they were/are located in china, so guess this will also make a different from Ripple position...</wildguess>
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Offline nz

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Thank you BM. Good points.

Got your back by the way.  :D
"There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose"

Offline topcandle

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