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Author Topic: Namecheap Accepts Bitcoin, BitSpend Overloaded at Launch!  (Read 1599 times)

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Namecheap Accepts Bitcoin, BitSpend Overloaded at Launch!
« on: March 06, 2013, 07:10:39 AM »
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Offline freedom43

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Re: Namecheap Accepts Bitcoin, BitSpend Overloaded at Launch!
« Reply #1 on: March 25, 2013, 11:44:29 PM »
I do not mean to rain on anyone's parade but this is not a new idea, it is a copycat company. Enymity.com has been providing anonymity to the internet consumer for over a year and is well established and patent protected. This company is treading in very thin legal waters by the claims they are making. Secondly the powers that are just made bitcoins and all purveyors or exchangers of any and all virtual currency subject to the banking secrecy act of 1986, which means by law all transactions with bitcoins must be recorded and the compliancy law adhered to. This makes the claims of this bitspend company a criminal act. Enymity.com is a 4th amendment company and its legal process is legal and it will only purchase legal goods and services. You see Enymity uses real money but the way they do it is they allow the consumer to make a purchase with them using their credit card. Enymity only needs the number and expiration date and this is all farmed to a third party encrypted processor. The vendor nor your bank ever know what you purchased and since Enymity parcels out the information at the point of purchase, there is never a subpoena-able record created showing what was purchased. Enymity is and has been a stand alone in this business of providing anonymity to the consumer, for bitspend to act like it is doing something new, either means they are not very knowledgeable of this industry or they are simply trying to take credit for an existing service, as many copycats do. This operation will be illegal as they use bitcoins and this means that their records will be easily subpoena-able. As an expert in this industry I would advise everyone to steer clear of this business because the way it is presented, it is an illegal operation according to the powers that are. Further: Any CEO that will not even put his name on his company is suspect in this patriot’s opinion and I can tell by the way the questions are being answered that this isn't even a business. We plan on doing this, we hope to have that and we are going to do this. Generally speaking you build the company and then you launch it. This really just seems to me that some wannabe (who wont even put his name on the company) stumbled across the enymity website took their whole concept and is trying to apply it to the use of bitcoins. This is comical because using bitcoins is the very act that makes you subject to these laws and what takes the anonymity out of the purchase, please. I would also think that Enymity.com will probably sue the crap out of them, depending on the claims they continue to make and the way they eventually set it up. To a layman it may seem like something, to someone well versed in the field, it is laughable. Go see Enymity.com for yourself and you will understand right away, this is a copycat and the fact that they are claiming to be brilliant in creating this anonymous system either means they do not know their own industry or the laws that govern it, which is pretty scary by itself or they are simply charlatans masquerading as real inventors. I mean come on, if a website cannot even fix its own SSL certificate (security) do you really want to trust them with your security. I for one say no way and I will stick with enymity.com.

Nothing here, move along, these are not the droids you are looking for---but hey, I heard Enymity.com has got them.


 

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