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Janky Tits

Registered: 06/19/14
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Bitcoins
#22401615 - 10/19/15 08:46 AM (8 years, 3 months ago) |
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Anyone else notice bitcoins are banned from being bought by individuals in New York unless they own a business and have the proper license and documentation to trade or own them?
I was trading recently and saw the message saying "New York residents are prohibited from buying bitcoins without the proper business license." New York passed some shitty law recently to try and regulate bitcoins.
Fuck New York, it's such a shitty state
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nicechrisman
Interdimensional space wizard



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That sucks but I guess it's not surprising they've found a way to limit peoples' access to a form of currency that is largely used for black market dealing.
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MichAnon.ael
Dark Stranger


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Ya kno, when hilary was gov she told them wall street boys to knock off the crap in 07...
I'd guess them boys got something to do with it
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Cepheus
Balance




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I would speculate that a lot of regular market financial investors use them as a way to hide income and evade tax, and given New York's status as a financial hub in the world.. some kind of legislation makes sense.
There's also a lot of potential for laundering as well....
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koods
Ribbit



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Sounds like the company you are buying bitcoins from has decided not to do business in New York State. The regulation isn't for indiciduals buying or selling, but for businesses like the one you are using to do the transaction. Sounds like a shady business if they don't want to follow rules on having the capitalization required by currency traders
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Prisoner#1
Even Dumber ThanAdvertized!


Registered: 01/22/03
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Quote:
MichAnon.ael said: Ya kno, when hilary was gov she told them wall street boys to knock off the crap in 07...
I'd guess them boys got something to do with it
lol... when was hillary clinton the governor of new york?
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koods
Ribbit



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Re: Bitcoins [Re: koods]
#22401668 - 10/19/15 09:04 AM (8 years, 3 months ago) |
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Bitcoins are a joke. Stick with currency backed by a country not one that is backed by nothing - talk about fiat currency
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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koods
Ribbit



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Re: Bitcoins [Re: koods]
#22401701 - 10/19/15 09:07 AM (8 years, 3 months ago) |
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Their message should have said "New York state residents are prohibited from buying bitcoins from us because we don't want to get a New York State business license"
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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nicechrisman
Interdimensional space wizard



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Re: Bitcoins [Re: koods]
#22401768 - 10/19/15 09:09 AM (8 years, 3 months ago) |
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Quote:
koods said: Bitcoins are a joke. Stick with currency backed by a country not one that is backed by nothing - talk about fiat currency
I wouldn't really consider them as an investment but they certainly are useful for certain types of trading.
-------------------- "Cosmic Love is absolutelely ruthless and highly indifferent: it teaches its lessons whether you like/dislike them or not." John C. Lily
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Janky Tits

Registered: 06/19/14
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Quote:
nicechrisman said:
Quote:
koods said: Bitcoins are a joke. Stick with currency backed by a country not one that is backed by nothing - talk about fiat currency
I wouldn't really consider them as an investment but they certainly are useful for certain types of trading.
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koods
Ribbit



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does anyone use bitcoins for doing legal things or is it all drug deal and scammers taking payments to clean their viruses off of people's computers?
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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Janky Tits

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Re: Bitcoins [Re: koods] 1
#22401892 - 10/19/15 09:16 AM (8 years, 3 months ago) |
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SWIM says it's mostly for drug deals
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nicechrisman
Interdimensional space wizard



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Re: Bitcoins [Re: koods]
#22401894 - 10/19/15 09:16 AM (8 years, 3 months ago) |
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I've never actually used them, but the main application that I know of that friends have used them for is procuring drugs.
-------------------- "Cosmic Love is absolutelely ruthless and highly indifferent: it teaches its lessons whether you like/dislike them or not." John C. Lily
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nicechrisman
Interdimensional space wizard



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Quote:
Prisoner#1 said:
Quote:
MichAnon.ael said: Ya kno, when hilary was gov she told them wall street boys to knock off the crap in 07...
I'd guess them boys got something to do with it
lol... when was hillary clinton the governor of new york?
That was in the parallel universe with the Berenstein Bears
-------------------- "Cosmic Love is absolutelely ruthless and highly indifferent: it teaches its lessons whether you like/dislike them or not." John C. Lily
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chopstick
nobody



Registered: 07/26/08
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Loc: Chin's Wok
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Re: Bitcoins [Re: koods] 1
#22401912 - 10/19/15 09:21 AM (8 years, 3 months ago) |
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Quote:
koods said: Their message should have said "New York state residents are prohibited from buying bitcoins from us because we don't want to get a New York State business license"
What you are referring to is called the Bitlicense.
And the Bitlicense is incredibly prohibitive. You have to pay a non-refundable fee of 5K just to submit the application. You also have to submit fingerprints to the NY Fed, and have a certain amount of assets (determined by them completely at random) probably around 250K or higher to successfully apply. Oh, and they get to spy on every single aspect of your operation, 24/7.
You also have to comply with all sorts of ridiculous little rules that make it virtually impossible to operate fluidly as a company.
But I have only offered a basic explanation of why this license is incredibly stupid. Here's a blog post from Kraken, a major bitcoin exchange:
http://blog.kraken.com/post/126244351097/farewell-new-york
It's just another step forward in an overall fascist direction that our nation is taking. I would not be surprised if they end up passing this type of extremely prohibitive legislation, making it as hard as possible for bitcoin businesses to operate, in every single state.
In conclusion, fuck New York
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LogicaL Chaos
Ascension Energy & Alien UFOs




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Its best used for buying RCs from online dealers and buying stuff off darknet (as ive read).
darknet also has a money landuring service that somehow covers up your bitcoin transactions and makes them look legit. Not sure how it works, just reaad about it.
At JankyTits: "SWIM". Fuckin LOL!
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nicechrisman
Interdimensional space wizard



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I guess you can cry fascist if you want, but honestly it's nothing new for a country to want to discourage alternative forms of currency. Pretty sure that's been commonplace since the invention of currency.
-------------------- "Cosmic Love is absolutelely ruthless and highly indifferent: it teaches its lessons whether you like/dislike them or not." John C. Lily
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koods
Ribbit



Registered: 05/26/11
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Quote:
nicechrisman said: I guess you can cry fascist if you want, but honestly it's nothing new for a country to want to discourage alternative forms of currency. Pretty sure that's been commonplace since the invention of currency.
New York isn't a country
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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koods
Ribbit



Registered: 05/26/11
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Quote:
chopstick said:
Quote:
koods said: Their message should have said "New York state residents are prohibited from buying bitcoins from us because we don't want to get a New York State business license"
What you are referring to is called the Bitlicense.
And the Bitlicense is incredibly prohibitive. You have to pay a non-refundable fee of 5K just to submit the application. You also have to submit fingerprints to the NY Fed, and have a certain amount of assets (determined by them completely at random) probably around 250K or higher to successfully apply. Oh, and they get to spy on every single aspect of your operation, 24/7.
You also have to comply with all sorts of ridiculous little rules that make it virtually impossible to operate fluidly as a company.
But I have only offered a basic explanation of why this license is incredibly stupid. Here's a blog post from Kraken, a major bitcoin exchange:
http://blog.kraken.com/post/126244351097/farewell-new-york
It's just another step forward in an overall fascist direction that our nation is taking. I would not be surprised if they end up passing this type of extremely prohibitive legislation, making it as hard as possible for bitcoin businesses to operate, in every single state.
In conclusion, fuck New York 
Regardless, Jankys Bitcoin dealer lied about the law - it has nothing to do with individuals buying or selling. Sounds like a reputable outfit
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
Edited by koods (10/19/15 09:28 AM)
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nicechrisman
Interdimensional space wizard



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Re: Bitcoins [Re: koods]
#22401941 - 10/19/15 09:27 AM (8 years, 3 months ago) |
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Quote:
koods said:
Quote:
nicechrisman said: I guess you can cry fascist if you want, but honestly it's nothing new for a country to want to discourage alternative forms of currency. Pretty sure that's been commonplace since the invention of currency.
New York isn't a country
You are obviously not a New Yorker
-------------------- "Cosmic Love is absolutelely ruthless and highly indifferent: it teaches its lessons whether you like/dislike them or not." John C. Lily
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