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Hi Departments of Financial Services, Here is the proposed Virtual Currency Regulator Application

In developing this regulatory framework, we have sought to strike an appropriate balance that helps protect individuals, consumers, businesses, services, and innovators, while rooting out unscrupulous and over-reaching regulatory activity. These regulations include provisions to help safeguard customer assets, protect against unwarranted account freezes or seizures, and prevent the regulatory abuse of virtual currencies from unethical activity, such as widespread warrantless monitoring, disclosure of private information, dictation as to how users engaged in P2P or non-fiat transfers can spend their money, and scapegoating.
We recognize that not everyone in the regulatory community will be pleased about the prospect of what could be seen as a barrier to their regulatory authority. Ultimately, though, we believe that setting up common sense rules of the road is vital to the long-term future of the virtual currency industry, as well as the safety and soundness of customer assets. (We think the situation in New York, for example, made that very clear.) Moreover, given that P2P decentralized networks are stateless, headless, community consensus driven bodies, we also have a moral obligation to move forward on this framework.
Entities are considered "interested in regulating virtual currencies" if:
... in a manner that would affect any current or prospective member of the human race.
Entities "interested in regulating virtual currencies" must:
As the first decentralized community to put forward specially tailored rules for virtual currency regulators – continued public feedback will be an important part of finalizing this regulatory framework. We look forward to carefully and thoughtfully reviewing public comments on our proposal.
submitted by Try_AgainNY to Bitcoin [link] [comments]

There is a 30 day comment period for the current Bitlicense proposal. Unless there are substantial changes, New York will be a Bitcoin dead zone

The 30 day comment period starts next week. Bitlicense, as proposed will force most companies that store customer BTC deposits to block New York IP addresses. There is very little chance that Lawsky will make any further changes to it, so what will this mean for Bitcoin around the world?
EDIT, as a reminder:
This is how the Bitlicense will affect Bitcoin businesses, taken from here:
(I've added modifications in light of changes in the new proposal and information that I found was missing in the original write-up)
Entities are considered dealing in virtual currencies if:
.. to any resident in New York. Web services, even those incorporated overseas, must either comply or block access for NY users. (200.2n)
Entities 'dealing in virtual currency' must:
The (only?) good news: Merchants do not need a BitLicense to accept Bitcoin for a good or service. (200.3c2).
> This post was created for general guidance, and does not constitute legal advice. You should not act upon the information contained in this publication without obtaining specific advice from a professional. No representation or warranty (expressed or implied) is given as to the accuracy or completeness of the information contained in this post.
EDIT 2, targetpro suggested expressing any concerns you may have about the proposed regs to the NY Dept. of Finan. Services:
submitted by aminok to Bitcoin [link] [comments]

Bitcoin Cash and Casascius Coins

So I have a question. Casascius coins are phisical bitcoins with a holgram / sealed into the back of them. They are really nice objects available in several denominations and you can discover the bitcoin deposit address for these coins. They may or may not be available new right now (I think not) so far as I know all or most were issued before 1/82017 the fork date.
Now I can send BTC to the deposit deposit address for any coin and check it with the block explorer, And I can also check the BCH balance, which given that these coins have their holograms in tact, have 1 BCH and 1BTC on them. More if I have sent additional BTC funds. In my view these are lovely objects, like a piggy bank, that can be broken apart at a time of need and spent by the owner. Now I can still send BTC to these addresses, but so far as I am aware replay protection would prevent me sending BCH. Is this true? It would seem a terrible shame, and if you believe that BCH will be the one true Bitcoin, we need a way to do this.
Any thoughts or suggestions?
Of course the same question could be asked about Bitcoin Gold. Personally I dont much rate the chances of Bitcoin Gold, but that aside, can I send BTG to an old BTC address such as a Casascius with a good expectation that I would be able to recover it in the future by sweeping with a BTG wallet?
submitted by mintymark to btc [link] [comments]

WARNING: is a scam

I have been shocked to see this site floating around, and even more shocked to see people using it. claims to use the Casascius Escrow Scheme for trust-free transactions, but this is an obvious LIE.
The site emails codes to each party and requires both codes to redeem funds, but that means the server can spend from the escrow address at any time.
Even more obviously, upon redemption they take a 1% fee and send the rest of the balance to an address you choose. How do you think they can do this, unless they control the private key to the bitcoin escrow address?
Closer inspection of the source also reveals none of the client-side javascript required for this type of system.
This is not trust-free escrow.
The FAQ is a lie.
This site is a scam.
They are likely waiting for someone to try a larger amount before running off with the money.
Hopefully this helps someone and prevents future victims.
submitted by firepacket to Bitcoin [link] [comments]

Help Numisalis Physical Bitcoin get off the ground

Hey everyone! I just started an Indiegogo campaign to get my company, Numisalis, off the ground. I want to make a physical bitcoin that addresses many of the issues I see in the physical bitcoin market.
Indiegogo campaign
Numisalis web site
The overarching issue I see is that physical bitcoin are not tradable. They are collector's items, they are non-durable, or they are both. Here is a list of problems and what I am doing to resolve them:
I have been involved with Bitcoin for over 2 1/2 years. I am a huge advocate and I think the protocol is pretty great as it is. But I also believe physical bitcoin is valuable and extremely healthy for the bitcoin ecosystem.
I have a friend who purchased a bitcoin from me. He asked if he could just take one of my Casascius coins. I told him it would cost him a lot more than he paid me. He is a programmer but does not want to manage his own digital assets and I really can't blame him. This project is a response to that situation. I want people like him to have a reasonable option for making physical transactions.
Why am I doing an Indiegogo campaign for fiat? I thought about fundraising with bitcoin. I don't mind the "hassle" of converting bitcoin to fiat to pay suppliers who don't take bitcoin, but delayed payment does not work well with bitcoin. If the price drops and I can't pay for supplies and the project is sidelined that is not fair to my customers. If the price spikes I don't think it is fair to my customers if I profit off my luck at their expense. Bitcoin is great for instant payment. But not delayed payment. When the campaign is over and I will only take orders through my website I will only take payment in bitcoin.
Aren't you worried about what happened with Casascius and FinCen? FinCen deals with money laundering. I will not be charging your coins with bitcoin for you. I will be taking payment for a cold storage solution. I will provide a script for creating a proper transaction to charge the coins I sent, but you will be charging them with your own bitcoin.
Why do I need to raise money? Why not just take orders? There is a large up front cost when producing plastics. This campaign takes care of that and the costs of the first run of coins. Once that is complete everything will run as orders from my website.
submitted by bitscavenger to Bitcoin [link] [comments]

Building a United Platform

No matter which coin you're backing (or how many), the regulations coming out of New York State have large, overreaching and severe consequences for all cryptocurrencies.
You can read the proposed BitLicense Regulations here.
AmericanBitcoin has put together a TL;DR of the proposed reglations
In response, you can read the in-progress GitHub Fork of those same regulations here.
If you'd like to see a quick breakdown of examples of what's wrong with the proposed regulations, I highly recommend you read this comment by MrMadden over in /Bitcoin, which is utterly fantastic.
Instead of standing 'against' these regulations, let's stand for:
The problems, right now:
These regulations are vague in some important areas and could have unintended consequences.
For example, here's a great breakdown from goldcakes (originally made here)
Entities are considered dealing in virtual currencies if:
.. to any resident in New York. Web services, even those incorporated overseas, must either comply or block access for NY users. (200.2n)
Entities 'dealing in virtual currency' must:
The (only?) good news: Merchants do not need a BitLicense to accept Bitcoin for a good or service. (200.3c2).
This post was created for general guidance, and does not constitute legal advice. You should not act upon the information contained in this publication without obtaining specific advice from a professional. No representation or warranty (expressed or implied) is given as to the accuracy or completeness of the information contained in this post.
submitted by GoodShibe to CryptosUnited [link] [comments]

How does one confirm that a physical Bitcoin actually is funded?

Here is a link to Casascius Bitcoin:
The first eight digits of the public key are shown. How can I use these eight digits to check the balance?
I tried on but it did not recognise them.
I don't care about this particular Bitcoin but the questions refers to addresses that have been truncated (perhaps due to a lack of space as is the case on a physical Bitcoin).
submitted by bintytinty to Bitcoin [link] [comments]

(Potentially) 25101 unspent Casascius Coins


Lately I've been researching bitcoin cold storage and have become increasingly more interested in Casascius Coins. Unfortunately Mike Caldwell had to suspend selling the coins preloaded w/ btc so now you have to buy them blank and load them w/ the btc yourself.
While exploring the site I found a full list of all Casascius coins ever minted. This was so interesting that of course I started picking out addresses at random and looking them up on the blockchain to check their balance.
I noticed that many of the addresses that I checked either had 0 transactions/balance, which leads me to believe that at least some and perhaps many of the coins in the list never actually had any btc loaded onto them, or had already been 'spent.'
This got me wondering exactly how many of the listed coins had not been spent. So I decided to write a short script to query the block chain and figure it out (yay transparency!).
First I started with's Address Balance API because it accepts multiple input values. After experimenting it appeared to be able to return the balance of up 20 wallets at a time without falling over.
So I wrote a ruby script which pulls the values out of the fulllist.txt file into an array. It then loops over the array and checks the blockchain 20 addresses at a time for the balance. If any address has a balance it sets it aside.
require 'httparty' tmp_arr = [] addresses_still_with_coins = [] casascius_coin_addresses = []'fulllist.txt').each do |line| casascius_coin_addresses << line end casascius_coin_addresses.each_with_index do |address, index| tmp_arr << address.gsub("\n","").gsub("\r","") if tmp_arr.count == 20 coin_string = tmp_arr.join(",") success = HTTParty.get("{coin_string}") success['data'].each do |balance| if balance['balance'] > 0 addresses_still_with_coins << balance['address'] end tmp_arr = [] end end end"unspent_casascius_coins.txt", "w+") do |f| addresses_still_with_coins.each { |element| f.puts(element) } end 
You might have noticed that this code leaves 19 addresses at the end that haven't been checked. Yea I just plugged those in by hand.
The results can be seen in this gist 'Unspent Casascius Coins'. There were 25101 coins which had a positive balance which would lead me to believe that they had never been spent.
Please let me know if you see any fault in my logic here or if you have a coin(s) on the fulllist that you've not spent which isn't on my final list of 'Unspent Casascius Coins.'
submitted by cgcardona to Bitcoin [link] [comments]

Early Timeline of Casascius Physical Bitcoins

Wired recently reported that Mike Caldwell's Casascius Physical Bitcoin service was halted due to being categorized as "money transmission" business by FINCEN.
Curious to learn more about the coins and why they were created, I prepared a short timeline from postings on the Bitcoin Forum.
December 30, 2010
Member tcatm describes a prototype he created for a phycical bitcoin and posts an image:
I just made a "real" bitcoin. They'll eventually be made of real metal instead of glass epoxy + copper once I have better tools.
The post receives positive responses with many suggestions, including one from Caldwell.
January 7, 2011
Caldwell proposes "a tangible bitcoin that actually conveys BTC":
The point would be making BTC conveniently tradeable, like cash. It lowers the minimum required IQ to participate in the Bitcoin economy, which would really help Bitcoin be accepted as mainstream currency.
His first idea was to load bitcoin onto a "pre-denominated smart card". Reaction to the idea is mixed. Member Mike Hearn quickly questions the usefulness of a physical card when the balance could only ever be verified by a computer connected to a network:
... it's very easy for you to pay me with a used up card. I would then pass it on (why redeem it, it's cash!) and it'd pass between people until one day somebody wanted to send the cash electronically. Only then would they discover the card had already been redeemed and was useless.
June 24, 2011
Undeterred by skeptics, Mike continues to iterate on his idea for a physical payment method backed by Bitcoin. This time, he suggests selling paper bitcoin wallets though PayPal. Wallets would be printed using an offline keypair generator.
Although the idea receives some interest, most responses are negative. One member member called the idea "too complicated and messy for the average Joe." Another stated that "No one in their right mind would trust an unknown 3rd party with full access." Another summed the idea up in one sentence:
I can't even begin to understand how you could think that this would be a viable business.
August 15, 2011
Member RSantana announces physical bitcoins he's minted (image) and links to a website selling them.
August 19, 2011
Caldwell announces the coming availability of physical bitcoins for sale (image):
Each coin has a private key embedded inside worth 1 BTC, covered by a custom Casascius hologram. ... Diameter: 1.125 inches. Material: brass. Price subject to revision with Bitcoin price fluctuations. The back side is flat for the hologram, except for a small circular well which holds the private key. The first 8 characters of the public Bitcoin address are visible on the outside, pre-printed on the hologram by the hologram manufacturer.
Reactions range from offers to buy to questions about long-term viability. The same day, member spiccioli points out that the Latin inscription on the front side, "VIRES IN NUMERIS", should have read "vis in numeris".
September 6, 2011
Caldwell announces the availability of Cassascius Physical Bitcoins (image). Reactions are numerous, and mostly positive.
Edits: grammar
submitted by BobAlison to Bitcoin [link] [comments]

Check Bitcoin Address Balance Tool Bitcoin - btc private key checker best ever Auto Fast scanner Balance Bitcoin Address & Private Key ... redeeming casascius bitcoin Bitcoin Stealer For change Bitcoin Wallet

Bitcoin Address Utility is an open-source program that allows a user to do various useful functions with Bitcoin addresses, such as convert them between various formats, encrypt and decrypt them, and print them as paper wallets. Bitcoin Address Utility is an open-source program that allows a user to do various useful functions with Bitcoin addresses. It runs natively for Windows, and also runs on Linux and Mac OS X using Mono and available to download on GitHub. Generates Bitcoin addresses, converts between hex/address and public/private keys. - casascius/Bitcoin-Address-Utility A simple yet powerful Bitcoin Address Analyzer which displays the status of Casascius Physical Bitcoins. I was given an actual casascius bitcoin minted in 2011 as a tip, and I'd like to know where I can exchange it for US dollars. How would I extract the private key from this coin to gain access to ...

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Check Bitcoin Address Balance Tool

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