Bitcoin Must Comply | Plan B 15

Bitcoin Must Comply | Plan B 15

Regulation and compliance, just the very words make many wince in pain. But the bitcoin elite agree, from the core developers to the Bitcoin entrepreneurs, the only way forward is through regulation. We’ll tackle this topic, and discuss the long-term goals.

Plus Drew reviews his USB ASIC Block Erupters, malware on ListenToBitcoin.com, your emails, and more!

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Listen to Bitcoin Sold, Site now has Malware


The Compliance Stage

”There are few things scarier than the threat of the government turning off your [portfolio] business and that possibility 100 percent exists with bitcoin,” said Matthew Witheiler, principal at Flybridge Capital Partners, and one of the four investor panelists at the pitch event. ”The bitcoin companies that win will be the ones that play by the rules.”

A lively discussion involving some of the hottest entrepreneurs from the Bitcoin start-up scene. Panelists include Erik Vorhees, Coinapult, Nejc Kodric, Bitstamp, Jeremias Kangas, Localbitcoins.com, Jered Kenna, Tradehill, Pelle Braendgaard, Co-founder, Kipochi. The panel is moderated by Isaac Kato, Co-founder, Verne Global

”It’s a fantastically good thing,” he says. ”Experimentation is wonderful. It’s been disappointing that the overwhelming majority of altcoins have been pump and dumps or premine-type schemes.” he calls that the first generation of coins, but thinks that the landscape for altcoins is maturing.

Coinbase Launches Instant Bitcoin Purchase

Coinbase is a San Francisco, USA based company that provides bitcoin wallet and merchant services. They currently support 180,000 customers and have raised over $6M in funding from large name investors including Y Combinator, SV Angel, Start Fund, Union Square Ventures, and Ribbit Capital, among several others. Today Coinbase announced the ability to instantly purchase bitcoins from connected bank account for a 1% fee.

Coinbase co-founder Fred Ehrsam confirmed that this was an anti-money-laundering move, and explained that the extra ID information level 2 users would need to submit include date of birth, address and last four digits of social security number. They also need to answer questions based on information in the public record, such as the color of their last car. This is the same kind of verification procedure attached to opening a new brokerage account or lifting the limits on a PayPal account, he noted.

Bitcoin Pick

CoinedUp.com is a FREE crypto-only currency exchange.

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