Re: Tradehill Bitcoin exchange shut down for 2nd time in 2 years

hallo all,

I was going to say that this was very quickly deriving into a "let's throw
out the baby with the bath water" discussion. Some of the existing
regulations are there to contemplate "use cases" that some projects may not
have had to face yet and I think its not so wise to quickly disregard them
all as "no longer relevant"

On that note: I think it's important to separate the different areas in
WebPayments that have to do with payment technologies, regulation, and
virtual currencies. I don't see why we have such a zeal in linking all of
those together. Are we saying that there will be no WebPayments standard
until we have fully operational virtual currencies?

If that is the case then we have a long way to go.. particularly because
virtual currencies still have to find its place in an existing market among
existing regulations (some of which as I mentioned are actually there for a
reason) and as such may take a bit of time to settle in, adapt and evolve..

In the meantime, my opinion is that it would be good that at least some
parts of those web payments find their way to real users out there, even if
they have to be built over the "old" payment infrastructures

Saludos!

---
ricardo



On Mon, Sep 9, 2013 at 2:35 PM, Joseph Potvin <jpotvin@opman.ca> wrote:

> RE: "in an era where constraints/requirements are no longer relevant"
>
> That might or might not be the case. Here's a useful reference, for
> example, which the libertarians on this list will recognize:
>
> http://library.mises.org/books/Friedrich%20A%20Hayek/Choice%20in%20Currency.pdf
>
> There used to be diverse currencies operating under all sorts of legal
> frameworks, so it's helpful to look backwards, not just forwards, for
> economic and legal foundations.
>
> BTW, even Thomas Edison worked on a currency proposal:
> http://faculty.washington.edu/dtwills/resources/Edisons-Monetary-Option.pdf
>
> http://query.nytimes.com/mem/archive-free/pdf?res=9E0CEFD71E30E633A25750C2A9619C946395D6CF
>
> Global peer-to-peer virtual currencies innovate some aspects of money,
> but not all.
>
> Joseph Potvin
>
>
>
> On Mon, Sep 9, 2013 at 8:10 AM, pindar wong <pindar.wong@gmail.com> wrote:
> >
> >
> >
> > On Mon, Sep 9, 2013 at 7:52 PM, Joseph Potvin <jpotvin@opman.ca> wrote:
> >>
> >> RE: "Not a technical issue"
> >>
> >> These issues are technical in law.
> >
> >
> > Sure... the legal code to be sure.
> >
> >>
> >> They set some of the business
> >> requirements for the application layer. There will be battles about
> >> these business requirements because they really matter.
> >
> >
> > Fully agree. Some were set in an era where constraints/requirements are
> no
> > longer relevant and hence the importance of interfacing with the
> traditional
> > banking/financial communities to help manage their expectations of the
> > change that is already underway. I guess that's why it's important to
> > participate in non-technical standards discussion, such as the IGF.
> >
> > p.
> >
> >>
> >> Joseph Potvin
> >>
> >
>
>
>
> --
> Joseph Potvin
> Operations Manager | Gestionnaire des opérations
> The Opman Company | La compagnie Opman
> http://www.projectmanagementhotel.com/projects/opman-portfolio
> jpotvin@opman.ca
> Mobile: 819-593-5983
> LinkedIn (Google short URL): http://goo.gl/Ssp56
>
>


-- 
Ricardo Varela -  http://twitter.com/phobeo
"Though this be madness, yet there's method in 't"