
How to make quick money with Bitcoin for fun - davidedicillo
http://www.davidedicillo.com/business/how-to-make-some-quick-money-with-bitcoin-for-fun/
======
patio11
If you execute on this plan, you are probably an unlicensed MSB. If you don't
know what that means, don't execute on this plan until you do.

~~~
nobodysfool
IANAL but...

"the term “unlicensed money transmitting business” means a money transmitting
business which affects interstate or foreign commerce in any manner or
degree".

If you keep your trades to people within your state, I don't see how you'd be
breaking the law here.

~~~
patio11
I believe you to have a much narrower interpretation of interstate commerce
than Uncle Sam does, but be that as it may, there are (at least) four parties
to the transaction: you, your counterparty, your bank, and Coinbase. Do you
think it is likely that all of them are in California and only California?

You're also picking at one thread of a regulatory tapestry. Even if you are
successful, there are a lot more threads.

