Author Topic: Ripple News  (Read 2127 times)

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Offline lovejoy

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Re: Ripple News
« Reply #15 on: May 07, 2015, 08:05:01 pm »
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 xeroc

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Re: Ripple News
« Reply #16 on: May 07, 2015, 08:08:29 pm »
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
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Offline roadscape

Re: Ripple News
« Reply #17 on: May 07, 2015, 09:30:58 pm »
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 liondani

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Re: Ripple News
« Reply #18 on: May 08, 2015, 12:32:36 am »
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 merivercap

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Re: Ripple News
« Reply #19 on: May 08, 2015, 12:53:22 am »
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 Fox

Re: Ripple News
« Reply #20 on: May 08, 2015, 05:04:16 am »
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.


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