Isn't this exactly what you told him when he proposed this idea previously?
RE: Hiring 1 Developer to Build a P2P Steem/USD Gateway!
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Hiring 1 Developer to Build a P2P Steem/USD Gateway!
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It does look very similar which is surprising given I devoted a significant part of this post to addressing exactly what @blocktrades said last time including education for users regarding applicable laws for the transactions based on location. I am also willing to exclude US users completely if the developer wants to do this and our legal advisers suggest this approach for simplicity and safety of global users.
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Yes, but he seems to have misinterpreted what I said and assumed it only applied to the business doing the matching and not to the participants, and that my objection was therefore overcome by the fact that the matching system doesn't handle the money.
I suppose he thought I hadn't bothered to read his post fully and understand it. I can see why he might have thought that; this last post was pretty long and I confess I didn't read all of it. Anyways, I hope my concerns are clarified now.
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Did you see where I devoted an entire section to talking about this in the post because of what you wrote in the first post? Here is the most relevant section based entirely on what you said:
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Hold on, this seems to imply that the solution offsets the responsibility for fiscal due diligence onto the individuals undertaking the transaction.
Isn’t that hat hugely risky for everybody individuals using the service? I mean finance can be pretty impenetrable at the best of times. All you need is a few bad news stories and then you’ve a massive negative spotlight hanging over the thing. You really should be looking to protect users of your system, not tell them they’re on their own.
I know we all want more mainstream access, but shortcutting it isn’t the answer.
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@fourfourfun the regulations are most applicable to people running entire businesses to transact money which is not obvious in the reply. An individual cashing out a little bit in earnings is unlikely to have any issues while someone buying and selling millions of dollars of Steem without compliance with the law is likely to run into the same problems as localbitcoins.
We respect users most by starting with a foundation of trust and assisting with education. Our current exchanges are based on the assumption users cannot be trusted which is why escrows and heavy restrictions are in place. People that are trusted are free to do what they please because there is no fear of what will be done. Our exchange will educate people on best practices and laws. When users abuse this trust, legal repercussions may occur.
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No thanks.
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