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Singapore To Regulate Virtual Currency Exchanges
SpankiMonki writes "Following on the heels of the Mt Gox bankruptcy, the Monetary Authority of Singapore (MAS) plans to impose new regulations on currency exchanges dealing in bitcoin and other virtual currencies. Virtual currency exchanges would need to verify their customers' identities and report any suspicious transactions under the new rules.
The MAS said its regulation of virtual currency intermediaries — which include virtual currency exchanges and vending machines — was tailored specifically to the money-laundering and terrorism financing risks they posed. However, the new regulations would do nothing to ensure the solvency of virtual currency intermediaries or the safety of their client's funds."
The MAS said its regulation of virtual currency intermediaries — which include virtual currency exchanges and vending machines — was tailored specifically to the money-laundering and terrorism financing risks they posed. However, the new regulations would do nothing to ensure the solvency of virtual currency intermediaries or the safety of their client's funds."
It's the death of the free market, and the government will ruin everything we built!
This is Singapore, the country continually rated as one of the world's greatest countries for economic freedoms... soo
Bye!
Great so more identities can be stolen. just like when mtgox sold off the personal info to the highest bidder
... the fetish dream of anonymity. Once these silly currencies are regulated and exchanges required to get details of their customers, what is the difference (and/or benefit) of using crypto currencies over fiat chedda?
Virtual currency includes that stuff they use in video games... so watch out.
The currency was ruined in design and philosophy. Don't blame the gov't
it's an acronym, you morons.
slashdot = stagnated
Any theory that does not provide a method to falsify and validate its claims is a useless theory.
Example; if someone said a watermelon is blue on the inside, but turns red when you cut it open, how could you prove them wrong? How could they prove they're right?
You couldn't and they can't. There is no method available to confirm or disprove what was said about the watermelon. Therefore we can dismiss the theory of the blue interior of watermelons as being pure speculation and guess work, not science. You can not say something is true without demonstrating how it is not false, and you can not say something is not true without demonstrating how it is false. Any theory that can not explain how to both validate and falsify its claims in this manner can not be taken seriously. If one could demonstrate clearly that the watermelon appears to indeed be blue inside, without being able to demonstrate what colors it is not, we still have no absolute confirmation of its color. That is to say asserting something is the way it is, without being able to assert what it is not, is a useless claim. Therefore, in order for any theory to be confirmed to be true, it must be shown how to both validate and falsify its claims. It is circular reasoning to be able to validate something, without saying how to falsify it, or vice versa. This is the nature of verification and falsification. Both must be clearly demonstrated in order for a theory to be confirmed to be true or false. Something can not be proven to be true without showing that it is not false, and something can not be proven to be not true, unless it can be proven to be false.
Unfortunately, Darwin never properly demonstrated how to falsify his theory, which means evolution has not properly been proven, since it has never been demonstrated what the evidence does not suggest. In the event that evolution is not true, there should be a clear and defined method of reasoning to prove such by demonstrating through evidence that one could not possibly make any alternative conclussions based on said evidence. It is for this reason we must be extremely skeptical of how the evidence has been used to support evolution for lack of proper method of falsification, especially when the actual evidence directly contradicts the theory. If it can be demonstrated how to properly falsify evolution, regardless if evolution is true or not, only then can evolution ever be proven or disproved.
It will now be demonstrated that Darwin never told us how to properly falsify evolution, which will also show why no one can claim to have disproved or proven the theory, until now. It must be able to be demonstrated that if evolution were false, how to go about proving that, and while Darwin indeed made a few statements on this issue, his statements were not adequate or honest. In order to show Darwin's own falsification ideas are inadequate, rather than discussing them and disproving them individually, all that needs to be done is demonstrate a proper falsification argument for evolution theory. That is to say if the following falsification is valid, and can not show evolution to be false, then evolution theory would be proven true by way of deductive reasoning. That is the essence of falsification; if it can be shown that something is not false, it must therefore be true.
So the following falsification method must be the perfect counter to Darwin's validation method, and would therefore prove evolution to be true in the event this falsification method can not show evolution to be false. As said before; if something is not false, it must therefore be true. This would confirm the accuracy of this falsification method, which all theories must have, and show that Darwin did not properly show how evolution could be falsified, in the event that evolution was not true. In order to show evolution is not false (thereby proving it to be true), we must be able to show how it would be false, if it were. Without being able to falsify evolution in this manner, you can not validate it either. If som
I made a similar currency: I call it '$hitcoin'. It's not the first one I made, but version number two.
It's a craptocurrency, but one based on alimentary, time-tested economic principles, real old-stool. IANAL, but it rests on a strong fecal foundation, with minimal risk of law sewage.
See my comments a couple months back: https://news.ycombinator.com/i...
Lower transaction fees.
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and pamper your dear mother. Your mother will be highly delighted after getting such a beautiful gift.
Maddof alone lost about 57 billion of investors money...
MtGOX used to trade magic the gathering cards. I am not sure they are on the same level as the professionals.
Then let's look at the regulated firms that caused the 2008 crash, the manipulation of the Argintinean dollar, Solyndra (Which I had hoped would succeed but yeah.)...
Approximately 22 trillion loss from the 2008 debacle? Yeah. I am sure some people that had a hand in those problems saw how much an amateur could screw up and said challenge accepted.