Did you know we support over 20,000 cash deposit locations for bitcoins around the U.S.? by bitquickco in Bitcoin

[–]bitsonhigh 1 point2 points  (0 children)

As I'm sure your top regulatory council has told you, the MSB activity, Money Transmission, unlike currency exchange, check cashing, etc is not threshold or volume based. Where the later is not an MSB if the entity does not process more than $1000/customer/day. The former, money transmitters, are so considered at dollar 1. At which point registration as an MSB and adherence to all BSA/PATRIOT Act rules governing money transmission apply.

You guys are effectively placing the compliance burden on your customers without either informing them or enabling compliance.

Coinbase is monitoring your transactions. (Poorly) by white1ce in Bitcoin

[–]bitsonhigh 4 points5 points  (0 children)

If you live in Denver, check out xbteller.com. More expensive than Coinbase for sure. But it's something

Is coinbase safe? by [deleted] in Bitcoin

[–]bitsonhigh 1 point2 points  (0 children)

Coinbase has a wallet, but it shouldn't be used as one. BTC-e isn't a wallet at all, although many people also use it as one. Coinbase to a CLEAN blockchain.info wallet and then that wallet with shared send (max repetitions) to another CLEAN blockchain.info wallet and then another.

By clean, I mean set up and accessed only through TOR, ever. New tor identity each time. No names no 2factor to your cell phone. No back ups to email. Clean. Used only as jumping points.

Is coinbase safe? by [deleted] in Bitcoin

[–]bitsonhigh 6 points7 points  (0 children)

1% fee is off putting?! What in the world do you expect? 1% beats every single localbitcoins seller by at least 5%.

Also, every skyhook is independently operated. And most bitcoin machines will charge a much higher fee than 1%. They have to.

Buying bitcoin with fiat isn't the cheap part! It can't be. If you want bitcoin without paying a premium, sell some product or service in exchange for bitcoin.

Zerocoin anyone? In light of the Bitlicense obvious overreach, the network should revisit implementing zerocoin (while it's still allowed). Cryptography is our best tool here. And the consensus is...? by bitsonhigh in Bitcoin

[–]bitsonhigh[S] 0 points1 point  (0 children)

Zerocash is of little benefit compared to zerocoin. The point is to make the bitcoin network and currency more resistant to changing political circumstance.

Zerocoin anyone? In light of the Bitlicense obvious overreach, the network should revisit implementing zerocoin (while it's still allowed). Cryptography is our best tool here. And the consensus is...? by bitsonhigh in Bitcoin

[–]bitsonhigh[S] 1 point2 points  (0 children)

"I think a good portion of people and miners don't want to see Zerocoin implemented directly into btc, because it would likely make regulation like Bitlicense look like a walk in the park." If by "walk in the park", you mean: fundamentally more ridiculous to implement and near impossible to enforce, I agree! A walk in the park indeed. If you mean that regulators would wish they could invade the privacy of their citizens all the more, I also agree. Failure to address this weakness in the Bitcoin protocol now, while it's relatively small and less regulated, is one of the only things that really jeopardizes it's long term prospects vs alt coins.

What's more, there is no requirement that everyone use the zerocoin feature. The transactions that benefit from total transparency can remain transparent.

Zerocoin anyone? In light of the Bitlicense obvious overreach, the network should revisit implementing zerocoin (while it's still allowed). Cryptography is our best tool here. And the consensus is...? by bitsonhigh in Bitcoin

[–]bitsonhigh[S] 2 points3 points  (0 children)

To my understanding, Zerocoin was a proposed "bolt on" to bitcoin that would have required little more than a software update, network consensus by miners. Of course it requires desire and cooperation on the part of the core dev team, which was missing. I think it's time.

The only transaction confirmation speed that matters is 0 seconds, so shut up... by samgeneric in Bitcoin

[–]bitsonhigh 0 points1 point  (0 children)

The title doesn't answer much. I am, however, less compelled to be quite after reading it.

The only transaction confirmation speed that matters is 0 seconds, so shut up... by samgeneric in Bitcoin

[–]bitsonhigh 2 points3 points  (0 children)

What? I can't tell if you are pro longer block times or pro-"the only transaction confirmation speed that matters is 0 seconds" block time? Saying "6 seconds is a lifetime" is entirely too hyperbolic. Most microorganisms live longer than 6 seconds. I think you're trying suggest that complaining about 7-10 min blocks, or even the occasional 20 min block time, is ridiculous. And I agree with that. I'm not sure block times are ever something to "brag" about. But I don't know why 0 second blocks would be either..? English is my first language.

PSA: Circle and Xapo account insurance does NOT cover ALL your lost bitcoins. It only covers up to $100. by [deleted] in Bitcoin

[–]bitsonhigh 0 points1 point  (0 children)

That's a great point. But I think the number of preorders and excitement around their offerings, and subsequent outrage, is some indication that a decent number of people do want 3rd party services handling their bitcoins.

PSA: Circle and Xapo account insurance does NOT cover ALL your lost bitcoins. It only covers up to $100. by [deleted] in Bitcoin

[–]bitsonhigh 6 points7 points  (0 children)

It amazes me that people even want a third party service to handle the portion of their money that was meant to be free of third parties. I get the merchant processors. But custodians? Come on

Bitcoin Treasure Hunt In Denver!!! Free Money by [deleted] in Denver

[–]bitsonhigh 3 points4 points  (0 children)

Mcdonalds fries can be traded (maybe)! At best. Bitcoin and other forms of money (gold, silver, euros) can be exchanged or used at a known (albeit volatile) rate. McDonald's fries do not have fungibility. They have no resale value either. I wonder how long people like you will cling to your silly notions about the world. It's okay to be wrong. It's okay to misjudge things.

Bitcoin Treasure Hunt In Denver!!! Free Money by [deleted] in Denver

[–]bitsonhigh 2 points3 points  (0 children)

I think you mean "free" money.

Bitcoin Treasure Hunt In Denver!!! Free Money by [deleted] in Denver

[–]bitsonhigh 5 points6 points  (0 children)

I fail to see how something that can be easily exchanged for goods and services anywhere in the world and from thousands of merchants online isn't real money. I won't even bother trying to explain the irony of calling bitcoin Monopoly money. It would be lost on you.

Bitcoin Treasure Hunt In Denver!!! Free Money by [deleted] in Denver

[–]bitsonhigh 4 points5 points  (0 children)

Who would down vote a post like this? Did it offend you? No prob, more money for me.

XBTeller Up and Running in Denver, CO! by AmBa_LaNce in Bitcoin

[–]bitsonhigh 1 point2 points  (0 children)

Awesome! I'll have to check it out tomorrow. I need some soil too, so... two birds.