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RE: #5 Linking Paypal and Steemit. The Principles and How it Works.
Although the IRS loves to go after and harass small time businesses and middle class families, their attacks are not about making sure they get their money. They are a terrorizing organization. There operations are to instil shock and fear.
Why does the govern-cement hate criminals? Because they do not like competition.
Watch Catherine Austin Fitts. If she is not talking about DUMBS, she is talking about the corruption in govern-cement financing. How much money did the pentagram "lose" last year?
Well yes I do agree with you but I'm using a simplified (and therefore streamlined) model of how governments deal with ML. However this platform and the tremendous energy directed towards innovation represents new ways of doing things. I think the time for big government is passed.
Btw What did you think of the proposal?
It works in a small scale with trusted people excellently.
It falls apart on a large scale where any anonymity creeps in.
I feel a major flaw in the system is that paypal can freeze your account for the "suspecting" that you have done something wrong. TDV had the account he was using for payment for and of Anarachapulco frozen until he proved he was holding a conference. And it took time, and much effort to get them to unfreeze it. Even with all the websites, videos and pictures of attendees, they still tried to say it wasn't so.
So, if smooth transactions are essential, then it will probably not be viable.
That's fair enough. Next time I'll make sure I deal with that issue head on to see what can be done. Remember we could have a network of accounts or even take steps to move things outside of Paypal.