I'm the founder of Weystream, a sustainable lifestyle start-up with a financial reward strategy. I like the BitCoin idea (very much). I spent a number of years leading a compliance team in financial services at publicly traded companies and I'm aware of the financial regulations across the country and throughout the world.
Your business model is more vague than "Western Union" and they've gotten themselves into serious trouble in recent years, which forced them to license. I told my colleagues at the time, it was coming, and I was right, as you can see here -- http://ir.westernunion.com/investor-relations/corporate-governance/state-licensing/default.aspx.
Here is my question -- when do you believe the states will kick in and demand BitPay to obtain the appropriate license(s)?