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TKay

Let’s break down the idiocracy of the money transmitter thing.

I have $10 in cash. I can hand it to you without anyone knowing. Is this ok?

Now say I am 10 yards away, can I throw it at you? Is that ok?

Say you are in a different city, can I put it it in an envelope and send it to you?

If you are in a different country, can I send you a text and say, I promise I’ll pay you $10 when I see you?

Where do we draw the line for money transmitter?

ShiShi21m 1y ago

If you do that with 2Billion dollars you're going to get fucked.

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Discussion

TKay 1y ago

I can’t promise to pay you 2 billion dollars over text?

ShiShi21m 1y ago

You can, and if you report the transaction to the authorities you're gonna be fine.

But if you think you're gonna start transacting privately out of the governments reach above the threshold where they will come fuck with you...well then...I'll visit you in a cell.

Is it just? No.

We need to be more careful, just like Satoshi was with WikiLeaks...