OP-ED: BitLicense’s Superficial Changes
Right now, the New York Department of Financial Services (NYDFS) is holding a 30-day public commenting period for the revised draft of its BitLicense regulation. By now, everyone in the Bitcoin community probably knows what BitLicense is; all cryptocurrency businesses in the state of New York that fall under the regulation’s jurisdiction must apply for a special license in order to operate in the state. Once your application is approved, and you get a license, you must continuously comply with a slew of restrictive regulations. During the commenting period for the first BitLicense draft, a....
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Coming off a rather slump week at the markets, with most of the top crypto-currencies simply holding or losing ground, I thought I’d take the time to cover one of the few that has actually managed to gain in value over the past 7 days. Up an impressive 58.29% this week, Viacoin ranks 22nd in overall market cap with 4,282 BTC (or 2,048,981 USD). While at first glance there are mostly superficial differences between Viacoin and BTC the developers seem to have some interesting technical features which may (or may not) account for the fact that it seems to be picking up steam while the rest of....
We started doing a little research last week to build a historical perspective for the Bitcoin community as it exists today, and in that spirit we wanted to take a look at some of the more spectacular scams, failures mess-ups that involve Bitcoin. However, we felt the previous list was a bit superficial and based on the responses we received, we decided to expand our list and present a more in-depth analysis of each case. And really, we could go further than 10. There are tons of examples of fraud, misrepresentation and outright business failures in the five-year history of the Bitcoin....
At first glance, especially to a digital currency neophyte, OpenCoin might not look that different from Bitcoin. Look beyond the superficial similarities, though, and the two ventures in virtual money couldn't be less alike. That's especially true in terms of the people - and money - behind the currencies. Bitcoin, after all, was birthed in a way by a cipher ... a man (or entity) who isn't there. (Theories abound as to who or what Satoshi Nakamoto is or was.) Nor did Bitcoin enjoy the advantages of big names and big money as it grew: its popularity grew through its appeal to a certain....
According to IndieSquare Co-founder Koji Higashi, new regulations in Japan, which will make Bitcoin an official form of payment, may do more harm than good for the fledgling industry in the country. Japan to Introduce Own ‘Bitlicense’. Following the disastrous demise of the infamous Japanese exchange, Mt. Gox and the arrest of its CEO Mark Karpelès, regulators in the country decided to introduce regulations for Bitcoin. The regulatory framework has been in the works for over two years. The first bill was submitted to the Diet in Japan (the legislature consisting of the Lower and the Upper....