New York lays down strict rules on Bitcoin operations - TechSpot

[Larunda]

http://www.techspot.com/news/60911-new-york-lays-down-strict-rules-bitcoin-operations.html

New York Superintendent of Financial Services Benjamin Lawsky has been working on the state’s regulations for some time now and in a speech at a recent emerging payments event in Washington revealed the new BitLicense requirement.

BitLicenses also will not be required for company’s that already have a regular money transmitter license.

This is the first I've heard about a Governmental body wanting to be on top of this. Unfortunately, I don't know really much about US law and how states handle things. Does seem like the US Federal Government gives more control over finances to the State Governments compared to Australia

[DevilishBooster]

"Why? Because we're New York and we can regulate whatever we want because we are special and get to tell you what to do".

[KirbyTech]

I see you are new put please read this then edit your post. http://linustechtips.com/main/topic/11724-read-before-posting-in-this-section/

[Larunda]

I see you are new put please read this then edit your post. http://linustechtips.com/main/topic/11724-read-before-posting-in-this-section/

Shiet. I did search for it. Bugger.

Maybe I screwed up the search. Apologies 

[dalekphalm]

Shiet. I did search for it. Bugger.

Maybe I screwed up the search. Apologies 

Erm, @KirbyTech is not saying it's a repost... Rather, he's saying your news post doesn't meet the news guidelines.

Specifically, you need to add in some original content to the post, in the form of a personal opinion or analysis of the situation.

[Larunda]

Erm, @KirbyTech is not saying it's a repost... Rather, he's saying your news post doesn't meet the news guidelines.

Specifically, you need to add in some original content to the post, in the form of a personal opinion or analysis of the situation.

Oh, you do..? I didn't get told about this on my first post. Then again, it was the one where AMD was trying to call NVIDIA out on sabotage. Insta shit posting thread.

I'll edit in something

[dalekphalm]

Oh, you do..? I didn't get told about this on my first post. Then again, it was the one where AMD was trying to call NVIDIA out on sabotage. Insta shit posting thread.

I'll edit in something

Yep, that link kirby sent you has an outline of all the required components. Don't sweat it though, your edits are now pretty good.

 

I find its better to kindly let the OP know when they miss something. Since, the alternative is a mod simply locking the thread, and then you don't even learn what you missed.

[Trik'Stari]

"Why? Because we're New York and we can regulate whatever we want because we are special and get to tell you what to do".

They even have separate entrances for the poor in some buildings in NYC.

 

Yep..... some real "equality" right there.

[Misanthrope]

They even have separate entrances for the poor in some buildings in NYC.

 

Yep..... some real "equality" right there.

 

Actually I thought that was a consequence of predatory real estate more than anything: the prices are so insane they force buildings to develop at least a part of them as "affordable housing" but they still want to have rich people feautes with ballet parking and doorman and shit without charging the "affordable" ones for it so they have separate entrances no?

[Kurosaki Isshin]

They even have separate entrances for the poor in some buildings in NYC.

 

Yep..... some real "equality" right there.

I live in NYC.

 

You know it's a retarded state when they charge you $12 to enter (toll) while the toll for PA (neighbor) is $5.

I hate this state. they assume you own a business if you're living here, small or big, they don't care.

[Trik'Stari]

I live in NYC.

 

You know it's a retarded state when they charge you $12 to enter (toll) while the toll for PA (neighbor) is $5.

I hate this state. they assume you own a business if you're living here, small or big, they don't care.

I would NEVER live in New York, for quite a few reasons. that I won't go into. Mostly the price of cigs.

 

Actually I thought that was a consequence of predatory real estate more than anything: the prices are so insane they force buildings to develop at least a part of them as "affordable housing" but they still want to have rich people feautes with ballet parking and doorman and shit without charging the "affordable" ones for it so they have separate entrances no?

They had to get a permit to do it, and it actually got approved. That's whats disturbing to me about it.

[Misanthrope]

They had to get a permit to do it, and it actually got approved. That's whats disturbing to me about it.

 

Well yes but you gotta consider the situation: it is my understanding that even a piece of shit rathole in the bronx is well over a million fucking dollars: the city is a poor people machine at this point and they have to do something to have enough housing and accommodations and such.

 

You're probably not gonna like my answer but I really think this is a problem with the rampat speculation on real state and private ownership, it's why places like new york are insanely expensive to live in and there's entire fucking cities elsewhere almost completely empty like a modern wasteland of failed capitalism yet people gotta live where they can find jobs even if they can hardly find a place to live.

[Trik'Stari]

Well yes but you gotta consider the situation: it is my understanding that even a piece of shit rathole in the bronx is well over a million fucking dollars: the city is a poor people machine at this point and they have to do something to have enough housing and accommodations and such.

 

You're probably not gonna like my answer but I really think this is a problem with the rampat speculation on real state and private ownership, it's why places like new york are insanely expensive to live in and there's entire fucking cities elsewhere almost completely empty like a modern wasteland of failed capitalism yet people gotta live where they can find jobs even if they can hardly find a place to live.

I think the better way to say that is: "Cities are poor people factories". Why people so desperately want to live crammed into such a small expensive space with too much noise, too many regulations, and terrible employment opportunities is beyond me. (speaking specifically about LARGE cities like NYC, LA, San-fran, etc, some smaller cities can be quite good places to live).

 

The other problem is the BS economics we use today. Instead of having a gold standard, as well as people being educated about how capitalism is supposed to work (companies are supposed to be able to fail when they get too big, that way someone else can take their place, it's a cycle), we have jackass bankers and finacial people playing games with the economy and making shit up.

 

David Mitchell puts it best.

 

Our economies aren't based on reality, they're based on a bunch of assholes making shit up. He does some great rants about stuff.

[ThomasD]

http://www.techspot.com/news/60911-new-york-lays-down-strict-rules-bitcoin-operations.html

This is the first I've heard about a Governmental body wanting to be on top of this. Unfortunately, I don't know really much about US law and how states handle things. Does seem like the US Federal Government gives more control over finances to the State Governments compared to Australia

The Federal government doesn't give control here in the US.  The Federal government is limited to roles assigned to it by the US Constitution.  If it is not assigned to the Federal government by that document then it falls to the States, or the People.

 

And in the case of the sale of most financial instruments (stocks, bonds, insurance, etc., and now cryptocurrencies) their regulation and control is largely a State matter.

 

New York, being such a heavy financial center, is often a leader in these types of legal and regulatory efforts.  Which is one of the reasons a New York State law license is so valuable.

[DevilishBooster]

The Federal government is limited to roles assigned to it by the US Constitution.

Ladies and Gentlemen,

I present to you, today's "Joke of the Day".

 

 

 

While that is how it is supposed to work, we all know that the government we have these days is a farcical load of horse shite. When you have the same group of people that are in Congress for 40+ years, they tend to start to ignore the Constitution and what the people say, and just do whatever the hell they want (that makes them more money).

[ThomasD]

Ladies and Gentlemen,

I present to you, today's "Joke of the Day".

 

 

 

While that is how it is supposed to work, we all know that the government we have these days is a farcical load of horse shite. When you have the same group of people that are in Congress for 40+ years, they tend to start to ignore the Constitution and what the people say, and just do whatever the hell they want (that makes them more money).

While I agree there are serious problems when comparing "the way things are" to "the way things are supposed to be" in this specific example - State regulation of financial transactions (and the Feds only getting involved when things cross state lines) - it's not as bad as many other industries.

 

But even when there are problems it should never stop you from stressing the way things are supposed to be.

[Trik'Stari]

While I agree there are serious problems when comparing "the way things are" to "the way things are supposed to be" in this specific example - State regulation of financial transactions (and the Feds only getting involved when things cross state lines) - it's not as bad as many other industries.

 

But even when there are problems it should never stop you from stressing the way things are supposed to be.

Nevermind that at some point someone somehow passed the ridiculous notion that "congress decides what constitutional powers they are granted" which is basically a blank check for "we get to do whatever the f**k we want and call it legal! YAAAAAAAAAY!" which is why the country is the way it is today.

[ThomasD]

Nevermind that at some point someone somehow passed the ridiculous notion that "congress decides what constitutional powers they are granted" which is basically a blank check for "we get to do whatever the f**k we want and call it legal! YAAAAAAAAAY!" which is why the country is the way it is today.

Sadly Congess isn't alone in that regard.

 

Right now we have a President who thinks if Congress doesn't pass the laws he wants then he gets to do it himself.

[Trik'Stari]

Sadly Congess isn't alone in that regard.

 

Right now we have a President who thinks if Congress doesn't pass the laws he wants then he gets to do it himself.

Not like either of them ever pass anything truly good.

 

I still think we need to hold a convention of states, nullify the existing federal government, and revamp the whole thing from scratch.

[KickinGravy]

Not like either of them ever pass anything truly good.

 

I still think we need to hold a convention of states, nullify the existing federal government, and revamp the whole thing from scratch.

Agreed

[Trik'Stari]

Agreed

I vote for no federal government. Simply revert to a collection of nations, with non-aggression treaties and mutual defense treaties between one another. Break up the federal governments resources equally between the states.

 

That way, each state can do what it wants (the way it was meant to be for the most part) and no state can force what it wants on the other states via BS federal laws.

 

Think of it like turning the US into the north american equivalent of the EU, more an affiliation of nations than a single nation with a corrupt federal government whose only concern is its own power and influence.

[Larunda]

But I don't wanna learn the name of 50 more countries

[Trik'Stari]

But I don't wanna learn the name of 50 more countries

I would assume they'd keep their names. Don't forget to quote someone when you respond to them so they can know you responded.

[Larunda]

I would assume they'd keep their names. Don't forget to quote someone when you respond to them so they can know you responded.

I can't even remember more than 15 states currently

[Trik'Stari]

I can't even remember more than 15 states currently

Again...the names would likely stay the same. We''re supposed to be considered nations unto ourselves anyways, or we originally were.