[Crypto-chi] bitcoin

Thu Nov 6 08:11:18 CST 2014

if you're like me bitcoin is still a bit of  a mystery. 
here are some good articles I came across if you're interested

Joe

http://www.pcpro.co.uk/features/384190/how-to-earn-spend-and-mine-bitcoins

http://www.linuxvoice.com/bitcoin/

Date: Fri, 17 Oct 2014 23:28:20 -0500
 From: eviljoel at linux.com
 To: cryptoparty-chi at groups.sshchicago.org
 Subject: [Crypto-chi] Fwd: Bitcoin services forced to spy on users?

Hey All,

I know there is a lot of Bitcoin interest on this list.

Laters,
eviljoel

-------- Forwarded Message --------
Subject:   Bitcoin services forced to spy on users?
Date:    Fri, 17 Oct 2014 17:08:49 -0700
From:    Rainey Reitman | EFF Activism Team <action at eff.org>
Reply-To:      Rainey Reitman | EFF Activism Team <action at eff.org>
To:      Joel Luellwitz <eviljoel at linux.com>

Dear Joel,

What if you picked up a cup of coffee on your way to work and paid $2.00
in cash, only to have the man behind the counter request your home address?

"My home address?" you might ask.

"Yes," he might reply. "And your full legal name. I'm keeping it in a
file for the next 10 years, just in case the government wants it."

<https://act.eff.org/action/stop-the-bitlicense>

Sound ridiculous? Substitute bitcoins for cash, and that's might happen
in the near future at businesses that accept digital currency in New
York and elsewhere.

The State of New York has proposed BitLicense, a sprawling regulatory
framework that would mandate licenses for a wide range of companies that
interact with digital currencies. The proposal creates expensive and
vague new obligations for startups and infringes on the privacy rights
of both Bitcoin businesses and casual users. And we have only four days
before public comments on the proposal close. Speak out now
<https://act.eff.org/action/stop-the-bitlicense>.

This isn't just about Bitcoin. Any future digital currency protocol
would be affected, even if it's not being used for financial services.
As the proposal is currently drafted, innovators who want to use these
protocols for smart contracts, to track digital assets, or for any other
purpose would still be affected.

BitLicense extends well beyond the state of New York. The regulations
impact any business "involving" New York or a resident of New York,
which is pretty much any online service. And the proposal as written
wouldn't just affect big digital currency exchanges; it would sweep up
software developers and other entrepreneurs designing creative services
for the digital currency environment. There are also no carve-outs for
academics or security researchers.

What the proposal would do:

  * BitLicense requires digital currency innovators to get a license.
    They would need to undergo a background check and submit their
    fingerprints to state and federal law enforcement.
  * Even technology users just dabbling in Bitcoin could be affected.
    All the companies who obtain a BitLicense may be forced to collect
    personal data on consumers—including full name and physical
    address—and keep that data for 10 years, no matter how small the
    transaction.

Think back to the coffee shop at the beginning of this article. If this
coffee shop were using a Bitcoin payment provider to process
transactions, that payment provider would need to obtain a BitLicense
from New York. While the coffee shop and its customers would not need to
get a license, every digital transaction processed by the payment
provider would have to follow the BitLicense record-keeping
requirements, including identity information about all parties to a
transaction.

Virtual currencies like Bitcoin have the potential to be
privacy-protective and censorship-resistant, but the proposal from New
York could undermine all of that. Perhaps worst of all, it could stifle
a fledgling privacy-enhancing industry before we even know what
potential societal benefits may develop.

We have until October 21 to submit comments to the state of New York
about their proposal. Please help us educate New York about how
BitLicense would affect privacy and innovation. Send in comments today
using this suggested text
<https://cdt.org/blog/nys-bitregs-a-threat-to-privacy-and-innovation/>
or by emailing dana.syracuse at dfs.ny.gov.

<https://act.eff.org/action/stop-the-bitlicense>

Defending your digital rights,

Rainey Reitman
EFF Activism Team
Support our work <https://supporters.eff.org/donate>.

*Learn more:*

>From Deeplinks: Beware the BitLicense: New York's Virtual Currency
Regulations Invade Privacy and Hamper Innovation
<https://www.eff.org/deeplinks/2014/10/beware-bitlicense-new-yorks-virtual-currency-regulations-invade-privacy-and-hamper>

Marco Santori's What New York's Proposed Regulations Mean for Bitcoin
Businesses
<http://www.coindesk.com/new-yorks-proposed-regulations-mean-bitcoin-businesses/>

Harley Geiger's NY's Proposed BitRegs a Threat to Privacy and Innovation
<https://cdt.org/blog/nys-bitregs-a-threat-to-privacy-and-innovation/>

Read the BitLicense proposal
<http://www.dfs.ny.gov/about/press2014/pr1407171-vc.pdf>

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