Damn I sure hope BitShares doesn't grow into itBit!!!!! Can you say elite takeover? I want BItShares to stay as far away from itBit as possible.
I consider working with itBit to be the equivalent to working with the FED, or Rockefeller or Rothchild -- the elite, who have enslaved us and wish to maintain their control over us.
For any of you that have not looked into the movers & shakers of itBit I encourage you to do so. They are people who are NOT friends to the BitShares mission.
WE MUST NOT LET THAT HAPPEN!!!!!!
Exactly. itBit = Bilderberg, same thing.
I feel Dan and Stan's heads are in the right place. I've heard nothing from them, heading up most of the core devs too, that would indicate that they have any intent on exposing our services to such regulation. If we continue to decentralize, we become completely impervious to attack.
I know so many of us want direct onramps with fiat, but as soon as we open that door, watch those parasitic bats come flying in. They are not welcome in OUR new world (order?).
Bank to kraken to bitcoin to metaexchange has been working for me just fine thanx. For me, it's worth the extra effort.
You got it all wrong. This kind of thinking leads to nowhere.
itBit is good news because it means BTC (and the whole blockchain concept) starts being recognized by the big fish as something valuable and potentially profitable.
And to have mass adoption BitShares needs to function within the legal framework and be easy to use - otherwise it will continue to be niche as it is now.
We're all adults here and each is entitled to their own opinion, no matter how foolish and uninformed it may be.
What does it matter if we're successful but controlled or heavily influenced by the same power brokers that control the mainstream financial markets? I'll tell you it means the BitShares ecosystem has failed to provide a freedom loving service Satoshi Nakamoto envisioned when he invented bitcoin, ideals & principles the mainstream populace cares little about and apparently a few here don't either.
I don't have "it all wrong", those that want mainstream adoption quickly by getting in bed with the minions hired to keep the slaves in line do. Get a clue! We must NOT take any VC money from anyone that seeks to dominate BitShares, steer it into the hands of regulators or mold it into something that can be centrally controlled. It may not start out that way but it will end up there if BitShares is funded by organizations like itBit. If you want that crap go play in the existing manipulated markets or get a bank account. No reason to screw up our nice clean sandbox.
These tactics that reduce crypto's marketcap and apply downward pressure on it are the same as a big supplier dropping prices at a loss in order to capture the market and drive competition into insolvency. The question has always been, do we sell out, compromise our principles just to gain adoption, or remain true to them and preserve hope for financial freedom?
If it is decided (either by decree or majority of shareholders that care only about profit and little about principles) to embrace regulation, then let it be done in a new chain and leave the core of the existing BitShares chain untouched by FinCen, AML and all other considerations that are contrary to decentralization and financial freedom. Go build it and let them come... somewhere else.
Frankly, if you don't care about the foundational principles that launched bitcoin and live on in the heart and soul of BitShares then you are in the wrong place. People that don't think about the bigger picture and refuse to learn from history and the reasons blockchain technology is a tool we desperately need to reverse the stranglehold of control over the planet need to step back and allow those more responsible to steer this ship, rather than the cannon fodder that just got out of basic training.