Quotes by Perianne Boring - Page 1

Death is a dying industry with an economic phenomenon.
Perianne Boring /
Dying
Phenomenon
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Sometimes our greatest strengths are also our greatest weaknesses.
Perianne Boring /
Greatest
Also
Strengths
Weaknesses
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Investors need to understand the risk of individual exchanges before trusting their funds with them.
Perianne Boring /
Investors
Exchanges
Funds
Trusting
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BitPay is the leading payment processor for bitcoin. The company specialize in setting up merchant accounts to accept bitcoin payments.
Perianne Boring /
Accounts
Bitcoin
Payment
Setting
Leading
Merchant
Specialize
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Bitcoin was created with security in mind. The Blockchain is Bitcoin's public ledger that records every transaction in the Bitcoin economy.
Perianne Boring /
Bitcoin
Economy
Mind
Records
Security
Blockchain
Public
Created
Transaction
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Bitcore was introduced to give a trusted platform to spur further bitcoin innovation, allowing BitPay to focus on what they do best: acquire merchants.
Perianne Boring /
Acquire
Allowing
Bitcoin
Innovation
Merchants
Trusted
Further
Introduced
Platform
Spur
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Digital assets, including bitcoin, could save small businesses substantial transaction fees and provide an added layer of security to their payment processing.
Perianne Boring /
Assets
Bitcoin
Digital
Fees
Payment
Processing
Added
Layer
Small Businesses
Substantial
Transaction
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In March 2013, FinCEN issued guidance for virtual currency businesses - giving the industry some degree of clarity about how to be compliant on the federal level.
Perianne Boring /
Clarity
Currency
Guidance
March
Compliant
Federal Level
Virtual
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There is no such thing as guaranteed high investment returns. Be wary of anyone who promises that you will receive a high rate of return on your investment with little or no risk.
Perianne Boring /
Investment
Rate
Guaranteed
Promises
Receive
Returns
Wary
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When you take a look at how the IRS treats foreign currency, bitcoin doesn't have the same taxation regime. Foreign currency gains and losses generally are taxed as ordinary income.
Perianne Boring /
Bitcoin
Currency
Gains
Income
Irs
Ordinary
Taxation
Treats
Losses
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In the US, banking and finance are regulated on the federal and state level, there are multiple federal bank regulators, and there are separate securities and commodities regulators.
Perianne Boring /
Finance
Banking
Multiple
Bank
Commodities
Securities
State Level
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The blockchain industry generally agrees that some kind of a national license or charter is the best way to go, similar to the United Kingdom, where there is only one central regulator.
Perianne Boring /
Best Way
Charter
License
United Kingdom
Blockchain
Central
Regulator
Similar
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I have the great privilege and honor of serving as the Founder and President of the Chamber of Digital Commerce, the world's largest trade association representing the blockchain industry.
Perianne Boring /
Association
Chamber
Commerce
Digital
Privilege
Representing
Serving
Blockchain
Founder
Largest
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The key benefits of a Special Purpose National Bank Charter are uniform regulations, standards, supervision, and authority for emerging financial technology companies to operate nationwide.
Perianne Boring /
Authority
Benefits
Charter
Emerging
Standards
Supervision
Bank
Nationwide
Operate
Regulations
Technology Companies
Uniform
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Blockchain technology has such a wide range of transformational use cases, from recreating the plumbing of Wall Street to creating financial sovereignty in the farthest regions of the world.
Perianne Boring /
Cases
Plumbing
Range
Regions
Sovereignty
Wide
Technology Use World
Blockchain
Farthest
Wall Street
Wide Range
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The majority of companies using BitPay to accept bitcoin are small businesses that are benefitting from lower transaction fees, faster service, and increased security for fraudulent transactions.
Perianne Boring /
Bitcoin
Faster
Fees
Majority
Security
Accept
Businesses
Companies
Fraudulent
Increased
Lower
Service
Small Businesses
Transaction
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I hold no economic interest in any company in this industry; however, I do hold and use digital currency for my personal use. I strive to keep myself non-biased and work with the highest integrity.
Perianne Boring /
Currency
Digital
Economic
Strive
Hold
However
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Daniel Masters is a master of the commodities markets with over 30 years experience. His bitcoin strategy is based on the parallels he sees from the oil industry in 1999 to the current state of bitcoin.
Perianne Boring /
Bitcoin
Masters
Oil Industry
Parallels
Strategy
Commodities
Current
Current State
Daniel
Master
Sees
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If you are not an accredited investor, you only have one option: to buy and hold bitcoin on your own. The process of acquiring bitcoin is risky and requires a lot of due diligence to navigate the landscape properly.
Perianne Boring /
Bitcoin
Diligence
Landscape
Navigate
Acquiring
Due
Option
Investor
Properly
Risky
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Sir Richard Branson started out as a small business owner and now owns a conglomerate that will give you a ride to the moon. If you pay for your ride with bitcoin, you'll be using the first truly universal currency!
Perianne Boring /
Bitcoin
Currency
Moon
Small Business
Business Owner
Conglomerate
Owner
Richard
Sir
To The Moon
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Businesses which were slow to recognize the power of the Internet in the mid '90s were quickly left behind. For example, Blockbuster failed to innovate with streaming technology and filed for Chapter 11 bankruptcy in 2010.
Perianne Boring /
Bankruptcy
Blockbuster
Streaming
Chapter
Failed
For Example
Innovate
Mid
Slow
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Blockchain startups are suffering from a crippling, archaic, and antiquated state regulatory system - and it's driving innovation abroad. Many blockchain start-ups trigger or may trigger money transmitter laws and regulations.
Perianne Boring /
Innovation
Abroad
Antiquated
Archaic
Blockchain
Crippling
Regulations
Regulatory
Startups
Trigger
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An unsolicited sales pitch may be part of a fraudulent investment scheme. Exercise extreme caution if you receive an unsolicited communication - meaning you didn't ask for it and don't know the sender - about an investment opportunity.
Perianne Boring /
Communication
Caution
Investment
Extreme
Fraudulent
Scheme
Receive
Sales
Unsolicited
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The Cyprus Financial Crisis was a devastating blow to Cypriots and halted their banking system. Banks closed for two weeks to prevent a banking panic. When they reopened, capital controls were placed on the people's money, and customers were met by armed guards at the branches.
Perianne Boring /
Banking
Banking System
Blow
Branches
Crisis
Cyprus
Financial Crisis
Panic
Two Weeks
Armed
Banks
Capital
Closed
Devastating
Guards
Placed
Prevent
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Many communities have turned a blind eye to what goes on inside funeral homes, as many people prefer not to know the ins and outs of the business. In addition, grieving customers in need of funeral goods and services may not be in a healthy state of mind to make financial decisions.
Perianne Boring /
Blind
Funeral
Goods
Grieving
Addition
Business Mind People
Blind Eye
Homes
Services
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Applying criminal law to the exchange of bitcoin on behalf of ransomware victims would create a morally shocking result of re-victimizing a victim. All lawfully operating digital currency exchanges would thereafter refuse to exchange bitcoin for ransomware victims for fear of criminal culpability.
Perianne Boring /
Behalf
Bitcoin
Criminal Law
Currency
Digital
Shocking
Applying
Exchange
Criminal
Thereafter
Victims
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Through decentralized cryptography, Bitcoin eliminates the need for banking intermediaries, significantly lowering transaction costs, and could liberate poverty-stricken economies around the globe by providing access to capital to the one-third of humanity that is excluded from the financial world.
Perianne Boring /
Access
Banking
Bitcoin
Cryptography
Excluded
Financial
Humanity
Providing
Need
Around
Capital
Through
Costs
Decentralized
Economies
Globe
Liberate
Lowering
One-Third
Transaction
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The law provides a remedy, charging those who threaten a victim's data for the purpose of extortion. Extending criminal liability to innocent third-party digital currency exchangers, or any other third-party financial institution, would be an utterly unwarranted and unjust misinterpretation both of law and policy.
Perianne Boring /
Charging
Currency
Data
Digital
Extending
Innocent
Liability
Remedy
Unjust
Criminal
Institution
Provides
Threaten
Utterly
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The IRS issued guidance for virtual currencies on March 25, 2014 that stated virtual currencies, including Bitcoin, are to be treated as property for federal tax purposes. This requires capital gains on virtual currencies to be recorded and reported. The Bitcoin Foundation says this could lead to unrealistic reporting.
Perianne Boring /
Bitcoin
Capital Gains
Foundation
Gains
Guidance
Irs
March
Property
Treated
Capital
Purposes
Recorded
Reported
Stated
Unrealistic
Virtual
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Exchanging bitcoin on behalf of ransomware victims should not be construed as criminal activity by the exchanger, not as a matter of law nor as sound policy. Such an interpretation would set a precedent that would surely cause real harm to the public, to the blockchain ecosystem, and to the financial services industry as a whole.
Perianne Boring /
Activity
Behalf
Bitcoin
Exchanging
Financial Services
Harm
Interpretation
Precedent
Blockchain
Criminal
Ecosystem
Services
Surely
Victims
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Grief has similar side effects of alcohol consumption, such as numbness, guilt, and depression, resulting in less alert and price-sensitive customers. In addition, the funeral industry is somewhat taboo in the sense that communities in general don't communicate with one another about what are acceptable practices in this industry.
Perianne Boring /
Depression
Acceptable
Alcohol
Communicate
Consumption
Customers
Effects
Funeral
Grief
Guilt
Taboo
Addition
Somewhat
Practices
Resulting
Similar
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A new product, technology, or innovation - such as Bitcoin - has the potential to give rise both to frauds and high-risk investment opportunities. Potential investors can be easily enticed with the promise of high returns in a new investment space and also may be less skeptical when assessing something novel, new, and cutting-edge.
Perianne Boring /
Bitcoin
High Risk
Innovation
Investment
Promise
Skeptical
Rise
Frauds
Returns
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The credit/debit card transaction system is antiquated, expensive, and inefficient. There are over nine steps to complete a transaction from the time a customer swipes their card to payment processing, settlement, and when the merchant finally gets paid. Every step along the way costs both the consumer and the vendor in additional fees.
Perianne Boring /
Every Step
Expensive
Fees
Nine
Payment
Processing
Settlement
Steps
Additional
Time Step Way
Antiquated
Card
Consumer
Customer
Inefficient
Merchant
Transaction
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After Jessica Mitford published 'The American Way of Death' in 1963, to expose the abuses in the funeral industry, a groundswell of support for government intervention followed. Under President Ronald Reagan The Funeral Rule was first enacted to protect consumers from deceptive practices, but the rule has yet to put the nail in the coffin.
Perianne Boring /
Abuse
Deceptive
Funeral
Intervention
Jessica
American Way
Coffin
Expose
Followed
Nail
Practices
Published
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With Bitcoin, every transaction is publicly verified, so many risks are eliminated, including chargeback fraud or 'friendly fraud.' This is when a customer purchases something online with a credit card; waits to receive the goods or service, then requests a chargeback refund. The bank then forcibly takes the funds out of the merchant's account.
Perianne Boring /
Bitcoin
Credit
Credit Card
Fraud
Friendly
Goods
Including
Online
Account
Bank
Card
Customer
Eliminated
Funds
Merchant
Publicly
Purchases
Receive
Requests
Risks
Service
Takes
Transaction
Verified
Waits
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Bitcoin has been described as a decentralized, peer-to-peer virtual currency that is used like money - it can be exchanged for traditional currencies such as the U.S. dollar or used to purchase goods or services, usually online. Unlike traditional currencies, Bitcoin operates without central authority or banks and is not backed by any government.
Perianne Boring /
Government
Authority
Bitcoin
Currency
Goods
Online
Traditional
Backed
Banks
Central
Decentralized
Dollar
Unlike
Purchase
Services
Virtual
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FinCEN directs financial institutions to file suspicious activity reports (SARs) to inform law enforcement of certain types of cyber-enabled crime. As the agency charged with protecting the United States from financial crime, FinCEN's guidance does not deem financial institutions who process such transactions to be involved in a criminal activity.
Perianne Boring /
Activity
Agency
Enforcement
Guidance
Law Enforcement
Reports
Suspicious
Transactions
Charged
Criminal
Deem
File
Inform
Protecting
Types
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