Bitcoin as a Corporation
Bitcoiners like to defend their community by proclaiming it just that – a community. But, what if in a court of law, Bitcoin could be defined as a corporation. What would this mean for Bitcoiners? If the so-called Bitcoin Community were declared a corporation, the precedent would then be set for online creation communities to thus be considered corporations. This would have far-ranging implications for all online creation communities, which encompasses technologies like Linux. If Bitcoin were ruled a corporation, then it would have operated for numerous years unregistered. As many early....
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Corporations, US presidential candidate Mitt Romney reminds us, are people. Whether or not you agree with the conclusions that his partisans draw from that claim, the statement certainly carries a large amount of truth. What is a corporation, after all, but a certain group of people working together under a set of specific rules? When a corporation owns property, what that really means is that there is a legal contract stating that the property can only be used for certain purposes under the control of those people who are currently its board of directors - a designation itself modifiable....
See also: http://letstalkbitcoin.com/is-bitcoin-overpaying-for-false-security/; http://bitcoinmagazine.com/7119/bootstrapping-an-autonomous-decentralized-corporation-part-2-interacting-with-the-world/; http://bitcoinmagazine.com/7235/bootstrapping-a-decentralized-autonomous-corporation-part-3-identity-corp/. Corporations, US presidential candidate Mitt Romney reminds us, are people. Whether or not you agree with the conclusions that his partisans draw from that claim, the statement certainly carries a large amount of truth. What is a corporation, after all, but a certain group of people....
Washington-based Bitcoin focused HashingSpace Corporation has completed a reverse merger with Milestone International Corporation, filed its 8-K with the United States Securities and Exchange Commission, and will trade on the OTC Markets under a new ticket symbol (HSHS), according to an official release. HashingSpace Corporation merged with Milestone International Corporation as part of a reverse merger for 120,000,000 shares of common stock, and 600,000 shares of Series A Preferred Stock. The merger was completed on July 10, 2015. Timothy Roberts, Chief Executive Officer of HashingSpace....
Less than two weeks after we reported on XCurrency’s trustless mixing service, the currency’s developers on Wednesday announced plans to form a corporation, sell shares and submit its code to outsider scrutiny to see whether anyone can break through its privacy features. First, the corporation: XC, Inc.’s formation will allow the currency’s team to participate in the commercial projects necessary to realize its vision of a distributed Web 3.0, which we covered earlier this month. “[I]n order to do so, XCurrency will need to function as a licensed public entity, and thus will be registered....
India’s payments authority, the National Payments Corporation of India, has reportedly said that it will not ban cryptocurrency transactions. Banks are to make their own decision whether to allow crypto transactions. The National Payments Corporation of India (NCPI), has refused to ban cryptocurrency transactions, local media reported Thursday. NCPI runs the Unified Payments Interface (UPI), an instant real-time payment system that facilitates inter-bank transactions. It is regulated by the central bank, the Reserve Bank of India (RBI). Instead of banning crypto transactions, NCPI....