http://www.coindesk.com/new-york-bitlicense-views-inside-bitcoin-industry/“I think it’s unfortunate, it’s not timely. The industry is very, very young and trying to regulate it now is entirely premature. Like the Internet, you need to give these things time to develop and see where the problem areas are.” - Patrick Murck, general counsel at the Bitcoin Foundation
Roger Ver, a fervent opponent of the proposals, said BitLicenses are “just a guise to protect the banks and other established industries” from competition that bitcoin would bring.
“This will eliminate the college dorm room startup. It will eliminate the young entrepreneur who is willing to put in 100 hours per week, but who doesn’t have $100,000 for his first two months of legal bills. It will make innovation the purview of large companies, which is to say, it will diminish innovation.” - Erik Voorhees
“These regulations do not even highlight the distinction between digital assets and digital currencies. Without representing the difference between the two, the NYDFS is issuing indiscriminate guidelines that threaten to destroy bitcoin. Numerous businesses have told me they are ready to block out all New York IPs from their servers, and will not do business in this jurisdiction if these proposed regulations are enacted.” - Chamber of Digital Commerce
Community Consensus:
“The consensus among bitcoin entrepreneurs at our recent conferences in Chicago and San Francisco has been to block New York customers rather than comply with the regulations.”Now here's what your hero Brian Kelly says about the exact same legislation:
"This (introduction of bitcoin regulation) was the right move at the right time."
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Notice anything different here? Notice anything different between Brian's opinion and every single other opinion given by every recognized community leader of bitcoin?
Brian Kelly IS paving the way for a Wall Street takeover of the cryptocurrency scene, by slowly innoculating users into the belief that big business and government intrusion into their lives is actually a good thing and not the reason why the world is currently bursting apart at the seams.
Brian Kelly is definitely a snake oil salesman. He's a turncoat, a double-agent, a traitor and an enemy of freedom. He cares about nothing except getting himself and his rich friends even richer. As a man who built his entire career around Wall Street you should know better than to expect anything else from him.
Here we go again.
1st of all I am not gonna debate roger ver's comments because we all know he is not in favor of any bitcoin regulation at all. absolutely none.
2nd - I don't know how its going to eliminate the college dorm room start up. First of all not every business in the BTC space will have to conform to the regulations, only those that hold bit coins. Secondly start up business could just do business in other states, besides NY.
3rd - numerous businesses will not comply? Like coin base? gimme a break, they already comply.
4th - Community consensus - This is not the entire bitcoin ecosystem, just certain entrepreneurs at a conference, they could be anyone, even you. So their opinion doesn't really mean anything.
Lastly I don't understand why you come in here and copy paste a bunch of bullshit, why don't you explain what exactly about the regulations will cripple the industry?
We had to have some regulation and yes now is the time, after the gox debacle, and numerous other exchanges, if people are going to hold money they have to be held accountable, thats just the way it is.
You act like we should have no regulation at all, which would be insane. Yet you can't even point out the positive's and negatives of the new regulations, you probably don't understand them yourself.
Not to mention the fact that you do not have to use that exchange, just use a different, I mean it is bitcoin, I still don't know why you haven't figured this out yet.
Some regulation is good, it is needed if you want BTC to be the predominant e currency.
