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Jesse Livermore



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Sr. MemberActivity: 462Merit: 250 Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread October 30, 2014, 03:12:50 AM #9883



Patrick Byrne - Overstock.com Inc. - CEO

Okay, well, that's the background on the name Medici. What it is is a technology has emerged in the last few years called the Blockchain and the

Blockchain is liberation itself.

You can create a currency on the Blockchain and that is, but you can also use the Blockchain, this technology, augmented by some new stuff on

top of it called Counterparty to create a parallel world to the world of modern finance, where all these institutions we have in the modern financial

world that accomplish certain desired ends, institutions like having equities and bonds and derivatives, swaps, they can all be -- and centralized

stock exchanges and centralized clearing systems like the DTCC, my bete noire, are things that can be done within the Blockchain, can be done in

this parallel universe.

We looked at -- I made a mention in May in Amsterdam that we wanted to be the first company to issue a security in this new parallel universe.

And I did that somewhat strategically, assuming that there were people out there who were thinking about that and would get in touch. Well, it

turns out there were 13 different groups around the world thinking of that and trying to figure out how to do it.

We vetted -- Mark Griffin did yeoman's work vetting a bunch of these different companies -- and I don't mean to slag anybody, some just weren't

our cup of tea, but there was one group that really was our cup of tea. They are called Counterparty. They're not all -- they are not even a company.

It's an open-source movement that stays true to the bitcoin philosophy. It is transparent. It is built within bitcoin rather than being a proprietary

alternative to bitcoin. There's just all these aspects of it that made me think these were the right fellas to go with.

Three of the founders came out to Overstock and they seemed to have very similar backgrounds to me, which is maybe why I like them, but they

were just doing it for the right reasons. So we worked out a deal recently announced, two of them have joined our company, and we are building

what is basically the tollbooth between those two universes.

You've got the world of modern finance, people with dollars in it, and there is going to be this world of cryptofinance and we will have the tollbooth

for people who go back and forth. And that is Medici.

The timeframe; we actually think that in the absence of there being a government we could build this technology and have it live and working for

the public in about, say, three or four months. Now we have to get regulatory approval for this. How much time does that add? Your guess is as

good as mine. Mark Griffin, do you want to venture a guess on that?



Mark Griffin - Overstock.com Inc. - SVP & General Counsel

It's hard. We haven't had the initial discussions. The framework is going to be difficult. It is a paradigm shift for these regulatory agencies, so it's

hard to predict.



Patrick Byrne - Overstock.com Inc. - CEO

That said, I have had, believe it or not, some quite positive conversations with some of the regulators involved. And I am at least told, and I actually

believe they are sincere, that they are not going to try and stop this. That they want to see it develop reasonably and to have a say and such, but

that they were going to act like adults.

And we are going to act like adults. I think as long as they understand this is coming -- they have a legitimate -- I think they have a legitimate interest

in making sure crooks can't use it to do bad things. So I actually am not expecting the massive regulatory opposition.

And there are already rules. We will be creating an ATS, an alternative trading system, and there are already rules that -- I think it's a 60-page

document that says this -- from the SEC -- this is what an alternative trading system has to do. This is how it has to handle record-keeping, how it

has to handle derivatives and things like that.

So there's already a roadmap out there. Nobody anticipated that we would use -- that someone would use the roadmap to build this thing that

we are talking about. But it is -- there is already a roadmap out there from the regulators of what our new system is going to have to do.

What value could it create for Overstock? Well, I have no way to estimate that. You know everything I know. I do know that we have stood -- that

I kick myself, because we have stood next to some extraordinary innovations that we just missed.

I thought of Overstock as a search company from the very beginning to go around to venture capitalists and on Wall Street trying to raise money

explaining it was a search company just that had these things wrapped up in it, warehouses and customer call centers and such. If I had been

smarter, I would have seen just doing pure search was probably the way to go.

We were early in the game in mobile, so early that around 2002 nobody adopted and we eventually discontinued it. We had a great social media

platform very early on. Again, the same story.

So I kick myself about some -- about having stood just a foot away from some of the great technological innovations of the last 15 years and not

really seized them correctly. That's not going to happen here. We, through some fluke, have ended up right in the crossroads of this emerging

technology.

It could disrupt the financial industry as we know it. I have no idea how to value that, but we seem to be -- through various flukes have found

ourselves right at the forefront of it. We've gotten very -- so we built a team to pursue this. We've gotten very good.

The team is going to cost in low single million dollars a year. It's not going to dramatically affect our earnings, but -- and we have really developed

great -- we have become a very agile company and we can develop software quickly and well and with good user experience and good design in

all kinds of ways and security and such.

So this team really has first call on the assets within Overstock to draw on all the people, all our people with all our experience to get this project

done quickly. And I couldn't even begin to estimate the value it could create for Overstock.

But a technology that disrupts an industry that is 40% of the profits of American corporations, and we could do the same thing that -- we could

build a system that can do many of the same things that industry does in essentially a tiny fraction of the cost would be a very valuable technology.











....

Buy.



JL Can't believe no one's posted this Overstock.com conference call transcript from Oct. 23 (found here: http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-calendar ) :Okay, well, that's the background on the name Medici. What it is is a technology has emerged in the last few years called the Blockchain and theBlockchain is liberation itself.You can create a currency on the Blockchain and that is, but you can also use the Blockchain, this technology, augmented by some new stuff ontop of it called Counterparty to create a parallel world to the world of modern finance, where all these institutions we have in the modern financialworld that accomplish certain desired ends, institutions like having equities and bonds and derivatives, swaps, they can all be -- and centralizedstock exchanges and centralized clearing systems like the DTCC, my bete noire, are things that can be done within the Blockchain, can be done inthis parallel universe.We looked at -- I made a mention in May in Amsterdam that we wanted to be the first company to issue a security in this new parallel universe.And I did that somewhat strategically, assuming that there were people out there who were thinking about that and would get in touch. Well, itturns out there were 13 different groups around the world thinking of that and trying to figure out how to do it.We vetted -- Mark Griffin did yeoman's work vetting a bunch of these different companies -- and I don't mean to slag anybody, some just weren'tour cup of tea, but there was one group that really was our cup of tea. They are called Counterparty. They're not all -- they are not even a company.It's an open-source movement that stays true to the bitcoin philosophy. It is transparent. It is built within bitcoin rather than being a proprietaryalternative to bitcoin. There's just all these aspects of it that made me think these were the right fellas to go with.Three of the founders came out to Overstock and they seemed to have very similar backgrounds to me, which is maybe why I like them, but theywere just doing it for the right reasons. So we worked out a deal recently announced, two of them have joined our company, and we are buildingwhat is basically the tollbooth between those two universes.You've got the world of modern finance, people with dollars in it, and there is going to be this world of cryptofinance and we will have the tollboothfor people who go back and forth. And that is Medici.The timeframe; we actually think that in the absence of there being a government we could build this technology and have it live and working forthe public in about, say, three or four months. Now we have to get regulatory approval for this. How much time does that add? Your guess is asgood as mine. Mark Griffin, do you want to venture a guess on that?It's hard. We haven't had the initial discussions. The framework is going to be difficult. It is a paradigm shift for these regulatory agencies, so it'shard to predict.That said, I have had, believe it or not, some quite positive conversations with some of the regulators involved. And I am at least told, and I actuallybelieve they are sincere, that they are not going to try and stop this. That they want to see it develop reasonably and to have a say and such, butthat they were going to act like adults.And we are going to act like adults. I think as long as they understand this is coming -- they have a legitimate -- I think they have a legitimate interestin making sure crooks can't use it to do bad things. So I actually am not expecting the massive regulatory opposition.And there are already rules. We will be creating an ATS, an alternative trading system, and there are already rules that -- I think it's a 60-pagedocument that says this -- from the SEC -- this is what an alternative trading system has to do. This is how it has to handle record-keeping, how ithas to handle derivatives and things like that.So there's already a roadmap out there. Nobody anticipated that we would use -- that someone would use the roadmap to build this thing thatwe are talking about. But it is -- there is already a roadmap out there from the regulators of what our new system is going to have to do.What value could it create for Overstock? Well, I have no way to estimate that. You know everything I know. I do know that we have stood -- thatI kick myself, because we have stood next to some extraordinary innovations that we just missed.I thought of Overstock as a search company from the very beginning to go around to venture capitalists and on Wall Street trying to raise moneyexplaining it was a search company just that had these things wrapped up in it, warehouses and customer call centers and such. If I had beensmarter, I would have seen just doing pure search was probably the way to go.We were early in the game in mobile, so early that around 2002 nobody adopted and we eventually discontinued it. We had a great social mediaplatform very early on. Again, the same story.So I kick myself about some -- about having stood just a foot away from some of the great technological innovations of the last 15 years and notreally seized them correctly. That's not going to happen here. We, through some fluke, have ended up right in the crossroads of this emergingtechnology.It could disrupt the financial industry as we know it. I have no idea how to value that, but we seem to be -- through various flukes have foundourselves right at the forefront of it. We've gotten very -- so we built a team to pursue this. We've gotten very good.The team is going to cost in low single million dollars a year. It's not going to dramatically affect our earnings, but -- and we have really developedgreat -- we have become a very agile company and we can develop software quickly and well and with good user experience and good design inall kinds of ways and security and such.So this team really has first call on the assets within Overstock to draw on all the people, all our people with all our experience to get this projectdone quickly. And I couldn't even begin to estimate the value it could create for Overstock.But a technology that disrupts an industry that is 40% of the profits of American corporations, and we could do the same thing that -- we couldbuild a system that can do many of the same things that industry does in essentially a tiny fraction of the cost would be a very valuable technology.....Buy.JL I own a DASH Masternode.... And you should too.

nakaone



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Hero MemberActivity: 742Merit: 500 Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread October 30, 2014, 12:31:24 PM #9887 Quote from: Jesse Livermore on October 30, 2014, 03:12:50 AM

Patrick Byrne - Overstock.com Inc. - CEO





I was here on page 2 of the announcement thread back in january, when come-from-beyond linked it from the nxt thread. I just understood the basic idea of xnova and phantom and decided to burn a few btc. What was much clearer even back then for me was that these guys really had an idea what they were talking about and the intellectual capabilities to achieve this without living in utopia.



the discussion about the purpose of the blockchain with luke-jr in this thread and especially one post of xnova was so remarkable that I decided to share it with friends.



Less than 10 months (!!!) later a-half-a-billion nasdaq companies ceo praises this protocol.



I basically have three major positions in these crypto-protocols, the other two besides counterparty are driven by deduction, which is in my opinion the best way to handle these uncertain markets. the decision for counterparty is more driven by trust than deduction. I do not want to sound overly enthusiastic and I still have open questions, but if one team is capable of reaching this almost utopian status of disrupting the most powerful market in the world, it will probably be these guys. I was here on page 2 of the announcement thread back in january, when come-from-beyond linked it from the nxt thread. I just understood the basic idea of xnova and phantom and decided to burn a few btc. What was much clearer even back then for me was that these guys really had an idea what they were talking about and the intellectual capabilities to achieve this without living in utopia.the discussion about the purpose of the blockchain with luke-jr in this thread and especially one post of xnova was so remarkable that I decided to share it with friends.Less than 10 months (!!!) later a-half-a-billion nasdaq companies ceo praises this protocol.I basically have three major positions in these crypto-protocols, the other two besides counterparty are driven by deduction, which is in my opinion the best way to handle these uncertain markets. the decision for counterparty is more driven by trust than deduction. I do not want to sound overly enthusiastic and I still have open questions, but if one team is capable of reaching this almost utopian status of disrupting the most powerful market in the world, it will probably be these guys.

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Counterparty General Manager







Full MemberActivity: 121Merit: 100Counterparty General Manager Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread October 30, 2014, 12:44:55 PM #9888 Quote from: nakaone on October 30, 2014, 12:31:24 PM Quote from: Jesse Livermore on October 30, 2014, 03:12:50 AM

Patrick Byrne - Overstock.com Inc. - CEO





I was here on page 2 of the announcement thread back in january, when come-from-beyond linked it from the nxt thread. I just understood the basic idea of xnova and phantom and decided to burn a few btc. What was much clearer even back then for me was that these guys really had an idea what they were talking about and the intellectual capabilities to achieve this without living in utopia.



the discussion about the purpose of the blockchain with luke-jr in this thread and especially one post of xnova was so remarkable that I decided to share it with friends.



Less than 10 months (!!!) later a-half-a-billion nasdaq companies ceo praises this protocol.



I basically have three major positions in these crypto-protocols, the other two besides counterparty are driven by deduction, which is in my opinion the best way to handle these uncertain markets. the decision for counterparty is more driven by trust than deduction. I do not want to sound overly enthusiastic and I still have open questions, but if one team is capable of reaching this almost utopian status of disrupting the most powerful market in the world, it will probably be these guys.

I was here on page 2 of the announcement thread back in january, when come-from-beyond linked it from the nxt thread. I just understood the basic idea of xnova and phantom and decided to burn a few btc. What was much clearer even back then for me was that these guys really had an idea what they were talking about and the intellectual capabilities to achieve this without living in utopia.the discussion about the purpose of the blockchain with luke-jr in this thread and especially one post of xnova was so remarkable that I decided to share it with friends.Less than 10 months (!!!) later a-half-a-billion nasdaq companies ceo praises this protocol.I basically have three major positions in these crypto-protocols, the other two besides counterparty are driven by deduction, which is in my opinion the best way to handle these uncertain markets. the decision for counterparty is more driven by trust than deduction. I do not want to sound overly enthusiastic and I still have open questions, but if one team is capable of reaching this almost utopian status of disrupting the most powerful market in the world, it will probably be these guys.

+1 well said! +1 well said! ivanaz@counterparty.io @ivanazuber

freedomfighter



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Full MemberActivity: 210Merit: 100 Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread October 30, 2014, 12:51:50 PM #9889



http://blogs.wsj.com/moneybeat/2014/10/24/bitbeat-the-promise-and-limits-of-overstocks-crypto-stock-exchange/?utm_content=buffer94df6&utm_medium=social&utm_source=twitter.com&utm_campaign



but actually- the relative skepticism and the willingness of our CP devs and Patrick B. to create a solution that will satisfy regulators while demonstrating the need for and value of such a system, is extremely positive. the gradual path and not the confrontational is how this will succeed reaching the regulators approval. the revolution is in the tech. Good job by Robby and Evan in this interview. The following article in WSJ was mentioned here several days ago as not so positivebut actually- the relative skepticism and the willingness of our CP devs and Patrick B. to create a solution that will satisfy regulators while demonstrating the need for and value of such a system, is extremely positive. the gradual path and not the confrontational is how this will succeed reaching the regulators approval. the revolution is in the tech. Good job by Robby and Evan in this interview.

Equality 7-2521



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A difference which makes a difference







MemberActivity: 118Merit: 10A difference which makes a difference Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread October 30, 2014, 01:14:27 PM #9890 Quote from: freedomfighter on October 30, 2014, 12:51:50 PM



http://blogs.wsj.com/moneybeat/2014/10/24/bitbeat-the-promise-and-limits-of-overstocks-crypto-stock-exchange/?utm_content=buffer94df6&utm_medium=social&utm_source=twitter.com&utm_campaign



but actually- the relative skepticism and the willingness of our CP devs and Patrick B. to create a solution that will satisfy regulators while demonstrating the need for and value of such a system, is extremely positive. the gradual path and not the confrontational is how this will succeed reaching the regulators approval. the revolution is in the tech. Good job by Robby and Evan in this interview.

The following article in WSJ was mentioned here several days ago as not so positivebut actually- the relative skepticism and the willingness of our CP devs and Patrick B. to create a solution that will satisfy regulators while demonstrating the need for and value of such a system, is extremely positive. the gradual path and not the confrontational is how this will succeed reaching the regulators approval. the revolution is in the tech. Good job by Robby and Evan in this interview.

Exactly. Medici is only positive for the wider Counterparty/Bitcoin community, even if it has to interface with the existing legacy infrastructure. Exactly. Medici is only positive for the wider Counterparty/Bitcoin community, even if it has to interface with the existing legacy infrastructure. https://forums.counterparty.io/

prophetx



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he who has the gold makes the rules







LegendaryActivity: 1624Merit: 1002he who has the gold makes the rules Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread October 30, 2014, 07:08:51 PM #9893 while i was speaking at the American Banker conference on digital currencies in NYC in July 2014, i made the argument for how blockchain technologies actually allow for more safety and automation of regulatory rules for trading securities which is good for investors as well as good for gov't regulators to not have to an open view into the software and network to know that certain rules function as they should, are enforced and are transparent to all market participants.



i mentioned how we had a system in place now that is not transparent built on the work of a guy who was chairmen of one of the major exchanges who defrauded people of billions.



there were people there from the NY DFS and the Federal Reserve, and while I am not a mind reader I think some of them found it interesting that it is possible to build a public resources and infrastructure to encapsulate certain rules to ensure that everyone is playing on a level field.





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Gresham's Lawyer







LegendaryActivity: 1204Merit: 1001Gresham's Lawyer Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread October 30, 2014, 07:56:11 PM #9894 Quote from: prophetx on October 30, 2014, 07:08:51 PM while i was speaking at the American Banker conference on digital currencies in NYC in July 2014, i made the argument for how blockchain technologies actually allow for more safety and automation of regulatory rules for trading securities which is good for investors as well as good for gov't regulators to not have to an open view into the software and network to know that certain rules function as they should, are enforced and are transparent to all market participants.



i mentioned how we had a system in place now that is not transparent built on the work of a guy who was chairmen of one of the major exchanges who defrauded people of billions.



there were people there from the NY DFS and the Federal Reserve, and while I am not a mind reader I think some of them found it interesting that it is possible to build a public resources and infrastructure to encapsulate certain rules to ensure that everyone is playing on a level field.



Imagine a world where corruption is not possible.

Those with vision will walk toward this world one step at a time.

Counterparty has cleared the path, and given it wheels.



As the old world fades into the past, the work of government becomes less necessary, their job done before they awake and so have less need of our taxes and time. Imagine a world where corruption is not possible.Those with vision will walk toward this world one step at a time.Counterparty has cleared the path, and given it wheels.As the old world fades into the past, the work of government becomes less necessary, their job done before they awake and so have less need of our taxes and time. FREE MONEY 1 Bitcoin for Silver and Gold NewLibertyDollar.com and now

Bulk premiums as low as .0012 BTC "BETTER, MORE COLLECTIBLE, AND CHEAPER THAN SILVER EAGLES" 1 Free of Government Bitcoin for Silver and Gold BITCOIN SPECIE (silver 1 ozt) shows value by QR Bulk premiums as low as .0012 BTC "BETTER, MORE COLLECTIBLE, AND CHEAPER THAN SILVER EAGLES"

BitDreams



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Hero MemberActivity: 504Merit: 500 Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread October 30, 2014, 11:17:07 PM

Last edit: October 30, 2014, 11:40:11 PM by BitDreams #9895 Quote from: Jesse Livermore on October 30, 2014, 03:12:50 AM



Patrick Byrne - Overstock.com Inc. - CEO



Mark Griffin - Overstock.com Inc. - SVP & General Counsel

It's hard. We haven't had the initial discussions. The framework is going to be difficult. It is a paradigm shift for these regulatory agencies, so it's hard to predict.

....

Buy.



JL

Can't believe no one's posted this Overstock.com conference call transcript from Oct. 23 (found here: http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-calendar ) :It's hard. We haven't had the initial discussions. The framework is going to be difficult. It is a paradigm shift for these regulatory agencies, so it's hard to predict.....Buy.JL

Sidechains and bitcoin 2.0 may allow the insertion of ByLaws into the code enforcing regulation from the start.



If I were a blockchain and my task was used solely for machine to machine transactions and if I could prove that with a real time blockchain and a machine coin I should be given a bill of clear sailing by the regulators.



If I'm using name coin and my public transit reputation is clear, i want to be in the pre-approved boarding line at the airport - that's not money.



So Lawsky doesn't have to wait for this either, he can come out and state... (pardon my exaggerations here) if you can prove on a blockchain that you've provided DNA, fingerprinting, eye-mapping, a bond from your bank account, proof of insurance, proof of assets, recent mental and health evaluations, well you can come buy me lunch at my office and I'll take you on a tour - that's not money.



Regulators should provide the entire scale, top to bottom, if you provide proof of this, you will have access to that. Sidechains and bitcoin 2.0 may allow the insertion of ByLaws into the code enforcing regulation from the start.If I were a blockchain and my task was used solely for machine to machine transactions and if I could prove that with a real time blockchain and a machine coin I should be given a bill of clear sailing by the regulators.If I'm using name coin and my public transit reputation is clear, i want to be in the pre-approved boarding line at the airport - that's not money.So Lawsky doesn't have to wait for this either, he can come out and state... (pardon my exaggerations here) if you can prove on a blockchain that you've provided DNA, fingerprinting, eye-mapping, a bond from your bank account, proof of insurance, proof of assets, recent mental and health evaluations, well you can come buy me lunch at my office and I'll take you on a tour - that's not money.Regulators should provide the entire scale, top to bottom, if you provide proof of this, you will have access to that.

prophetx



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he who has the gold makes the rules







LegendaryActivity: 1624Merit: 1002he who has the gold makes the rules Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread October 31, 2014, 12:23:42 AM #9896 Quote from: NewLiberty on October 30, 2014, 07:56:11 PM Quote from: prophetx on October 30, 2014, 07:08:51 PM while i was speaking at the American Banker conference on digital currencies in NYC in July 2014, i made the argument for how blockchain technologies actually allow for more safety and automation of regulatory rules for trading securities which is good for investors as well as good for gov't regulators to not have to an open view into the software and network to know that certain rules function as they should, are enforced and are transparent to all market participants.



i mentioned how we had a system in place now that is not transparent built on the work of a guy who was chairmen of one of the major exchanges who defrauded people of billions.



there were people there from the NY DFS and the Federal Reserve, and while I am not a mind reader I think some of them found it interesting that it is possible to build a public resources and infrastructure to encapsulate certain rules to ensure that everyone is playing on a level field.



Imagine a world where corruption is not possible.

Those with vision will walk toward this world one step at a time.

Counterparty has cleared the path, and given it wheels.



As the old world fades into the past, the work of government becomes less necessary, their job done before they awake and so have less need of our taxes and time.

Imagine a world where corruption is not possible.Those with vision will walk toward this world one step at a time.Counterparty has cleared the path, and given it wheels.As the old world fades into the past, the work of government becomes less necessary, their job done before they awake and so have less need of our taxes and time.

exactly. and i believe that there are people, who are public servants, who think strategically and are enlightened to the point of realizing that laws must make the leap from being enforced by pen, paper and force to digital rights and enforcement; and we are seeing the very first wave of this. these protocols that we are building are the building blocks themselves of digital private arbitration courts that consenting parties agree to when they enter.



regarding legislation what really needs to happen is similar to what happened with the Internet in the early days, meaning a relative minimalist, hands off approach where the federal and state enforcement arms are dealing with basic blocking and tackling of simple concepts such as fraud, misrepresentation, theft, etc. the rest can be handled by private civil contract.



the Securities Act of 33/34 needs to be amended to reflect this. and as i mentioned in another chat those laws are from a generation where most Americans who were old enough to invest were relatively poorly educated (lacking even high school degrees) and where information flow (googling "is foocoin a scam?") was fragmented and slow creating informational and judgement dissonance in the investing public.



exactly. and i believe that there are people, who are public servants, who think strategically and are enlightened to the point of realizing that laws must make the leap from being enforced by pen, paper and force to digital rights and enforcement; and we are seeing the very first wave of this. these protocols that we are building are the building blocks themselves of digital private arbitration courts that consenting parties agree to when they enter.regarding legislation what really needs to happen is similar to what happened with the Internet in the early days, meaning a relative minimalist, hands off approach where the federal and state enforcement arms are dealing with basic blocking and tackling of simple concepts such as fraud, misrepresentation, theft, etc. the rest can be handled by private civil contract.the Securities Act of 33/34 needs to be amended to reflect this. and as i mentioned in another chat those laws are from a generation where most Americans who were old enough to invest were relatively poorly educated (lacking even high school degrees) and where information flow (googling "is foocoin a scam?") was fragmented and slow creating informational and judgement dissonance in the investing public.

freedomfighter



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Full MemberActivity: 210Merit: 100 Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread October 31, 2014, 09:06:44 AM #9898 Quote from: Fernandez on October 31, 2014, 06:59:10 AM



I love the technology and the developers, but these regulations may be a huge problem

Confused about the whole SEC business. Still holding my burned coins but wondering whether I made a mistake of not cashing in.I love the technology and the developers, but these regulations may be a huge problem

The question is: how much patience do you have? do you believe that within, say 3-5 years the blockchain technology will be REALLY enabled and clear to all, and ultimately become main stream?



if you do, then this can be an early entry at ground floor level to something special, and like me, you should keep your burned coins. if not, then sell for 800% and move on.



this should be viewed as a marathon not a 100M dash, and not even a one mile race.



Personally, I think that if someone thinks that the regulatory hurdle will take "months", they are fulling themselves. 2-3 years is more like it. The question is: how much patience do you have? do you believe that within, say 3-5 years the blockchain technology will be REALLY enabled and clear to all, and ultimately become main stream?if you do, then this can be an early entry at ground floor level to something special, and like me, you should keep your burned coins. if not, then sell for 800% and move on.this should be viewed as a marathon not a 100M dash, and not even a one mile race.Personally, I think that if someone thinks that the regulatory hurdle will take "months", they are fulling themselves. 2-3 years is more like it.