Bitcoin Receives Cease and Desist Order in California

CommanderFrank

Cat Can't Scratch It
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The Bitcoin Foundation has received a cease and desist order from the state of California for operating a money transmission business without a license. Bitcoin has run into this in several other states, but since the laws are still undefined for the Bitcoin business model, it’s going to take a court decision to settle the charge.

One activity that the foundation does not engage in is the owning, controlling, or conducting of money transmission business.
 
about time

RTFA

One activity that the foundation does not engage in is the owning, controlling, or conducting of money transmission business. Furthermore, that activity would also be against the original charter of the foundation.

The Bitcoin Foundation has received a cease and desist order from the state of California for operating a money transmission business without a license.
 
LOL, they don't have a clue what the foundation is/does...what a bunch of state morons.
 
LOL, they don't have a clue what the foundation is/does...what a bunch of state morons.

Not everyone in this state are morons, just the people running it, and the people who keep electing them.

The real problem that that these statist can't figure out how to extract tax dollars from Bitcoin.
 
I know they'd eventually make this illegal. All because they can't tax it. Same reason moonshine is illegal. Kinda sad though, since the idea of it is pretty neat. It's still very new and maybe can't be trusted for anything too serious, but the concept is there, and it was nice while it lasted. I never partaked in it myself though, but I had considered getting into it a bit.
 
I know they'd eventually make this illegal. All because they can't tax it. Same reason moonshine is illegal. Kinda sad though, since the idea of it is pretty neat. It's still very new and maybe can't be trusted for anything too serious, but the concept is there, and it was nice while it lasted. I never partaked in it myself though, but I had considered getting into it a bit.

better read the source article. Bitcoin Foundation != Bitcoin
 
any surprise that a state that can't manage it's own money is the first to try and ban (or hurt) a business trying to generate some in that state?

I bet if they were able to slap a 20% tax on it they would welcome them to the state with open arms. Fuck that entire state -- we all know everything the government touches turns to shit -- CA is just an accelerated example.
 
better read the source article. Bitcoin Foundation != Bitcoin

Well technically if they're after the foundation they're after Bitcoin too, and they'll want to do anything to shut down the network, or instead just sue people who use it, kinda like antipiracy so they can make profit.
 
Well technically if they're after the foundation they're after Bitcoin too, and they'll want to do anything to shut down the network, or instead just sue people who use it, kinda like antipiracy so they can make profit.

These foundation was just created while Bitcoin has been around for years, so this is not "the" foundation of Bitcoin. They might also find it difficult to find out who uses it since you don't even need the Bitcoin wallet installed to mine for 100s of different pools and then transfer to anonymous online wallets.
Regardless, I use litecoins, so I have a bit more time. :D
 
lol the fed is getting uneasy about a currency they don't control or print. HA!!! You scumbags can't stop it. Technology set us free!
 
lol the fed is getting uneasy about a currency they don't control or print. HA!!! You scumbags can't stop it. Technology set us free!

From? I dont think anyone can actually buy gas, pay utilities, get groceries, etc with bitcoin.... The basics of life. Yay, buying some computer parts from one or two websites.... Freedom indeed :rolleyes:
 
Yep, this is a state so incompetent that they're teetering on the verge of bankruptcy so they're looking for anything that can do to take more money from the private sector. 1 more reason why I hate the government especially the one in California....and probably New York.
 
step 1: google bitcoin
step 2: see if any of the companies are registered as corporations
step 3: sue them
 
oh look more California hatred because some "company" is doing business in the state and decided it doesn't want to follow the rules like everyone else.

Everyone bitching like a grandma without her prune juice that it's a taxation issue, when it comes down to it being a licensing issue. Lets also ignore the fact that it's against Federal law without a license or US treasury approval... but yeah lets keep attacking it as some money grab by big government!!

Some of you people are delusional as all hell to pretend this isn't a currency, regardless of how made up you believe it to be.
 
From? I dont think anyone can actually buy gas, pay utilities, get groceries, etc with bitcoin.... The basics of life. Yay, buying some computer parts from one or two websites.... Freedom indeed :rolleyes:

Only a matter of time.
 
The idea of cryptocurrency is here to stay. The 100,000 dollar question is ( a possible true future evaluaton) is the Bitcoin going to be that global currency that is widely accepted and defeats all capital controls?
 
This was a Good Wife episode. The American Pie dude created bitcoin.
 
The idea of cryptocurrency is here to stay. The 100,000 dollar question is ( a possible true future evaluaton) is the Bitcoin going to be that global currency that is widely accepted and defeats all capital controls?

Fat chance dude.

You underestimate the powers that be.
 
Bitcoin was created by the founder to be an alternative to paper money. The system that generates bitcoins is so much better than traditional currency that it literally could save the economy of the world if we would allow it to. And if you think otherwise all you need to do is research work came from and what it is exactly. After reading that if you still think paper money is a better system than Bitcointhen you are just a f****** moron
 
Bitcoin was created by the founder to be an alternative to paper money. The system that generates bitcoins is so much better than traditional currency that it literally could save the economy of the world if we would allow it to. And if you think otherwise all you need to do is research work came from and what it is exactly. After reading that if you still think paper money is a better system than Bitcointhen you are just a f****** moron

Bitcoin has no power to back it. That's it's one flaw, yet is also a strength. Without power, it can crash instantly. With power (a backer), it can be eradicated by another power when it is deemed a threat.
 
Anyone ever wondered what does bitcoin 'mining' do in the end? It's created by a hacker so he's harvesting peoples computers to break up cryptography or something for sure.
 
I know they'd eventually make this illegal. All because they can't tax it. Same reason moonshine is illegal. Kinda sad though, since the idea of it is pretty neat. It's still very new and maybe can't be trusted for anything too serious, but the concept is there, and it was nice while it lasted. I never partaked in it myself though, but I had considered getting into it a bit.

knows nothing about it, has never used it, thinks its very new, but KNOWS they'd eventually make it illegal.


I swear I'm losing braincells the longer I try to keep up with my favorite forums and blogs. comments sections these days, good god
 
Anyone ever wondered what does bitcoin 'mining' do in the end? It's created by a hacker so he's harvesting peoples computers to break up cryptography or something for sure.

:facepalm:
 
fine

cower in your hovel

the arc of history bends toward freedom

Or the exact opposite? Haven't larger, stronger predators been eating the weaker predators on our planet for ... almost all of its existence? Or the larger stronger caveman getting the girls and telling the weaker caveman what to do? I mean, giving the weaker caveman freedom to not get his skull bashed in...

I think the 'arc of history' you are referring to might be around ~50 years out of 100,000,000 years. I don't know if any of those years though would be from 2000 onward.
 
Or the exact opposite? Haven't larger, stronger predators been eating the weaker predators on our planet for ... almost all of its existence? Or the larger stronger caveman getting the girls and telling the weaker caveman what to do? I mean, giving the weaker caveman freedom to not get his skull bashed in...

I think the 'arc of history' you are referring to might be around ~50 years out of 100,000,000 years. I don't know if any of those years though would be from 2000 onward.

At least since 1215 with the Magna Carta the primary theme of social development, while often two steps forward and one step back, has been a push to greater individual liberty and pluralism.
 
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