nice article.
Now, there exists only one functioning exchange in the US with diminishing volume compared to its competitors. The Atlanta-based exchange, Camp BX, had reached such a low point of average daily trading volume that it was removed from the CoinDesk BPI earlier this month.
so US and A, whats your choice?
Topic: 2013-11-16 Coindesk: Matonis: US has Already Ceded Dominance in Bitcoin Trading (Read 1014 times)
November 16, 2013, 11:44:02 AM
November 16, 2013, 11:41:58 AM
And BTW as of the past few days, China downloads of reference client running at almost 2x rate of US downloads.
1. China 0% 0% 1% 2% 1% 95% 9,022
2. United States 1% 0% 3% 18% 2% 76% 5,532
1. China 0% 0% 1% 2% 1% 95% 9,022
2. United States 1% 0% 3% 18% 2% 76% 5,532
November 16, 2013, 10:38:19 AM
It's unfortunate that Jon Matonis will not be in DC this coming week to personally deliver this message, but presumably Patrick Murck has an equal understanding of the issues involved and will forcefully and unambiguously tell the USA Senate a similar story.
http://www.coindesk.com/us-already-ceded-dominance-bitcoin-trading/
Quote
We have arrived at the point where the US jurisdiction must strategically evaluate a path going forward. Either they enable a climate that appeals to bitcoin exchanges and businesses or they maintain barriers that silently drive innovation in the space overseas.
Delaying that moment serves only to increase the clout and power of the other jurisdictions competing for this lucrative business. A free and robust bitcoin economy drives growth and jobs, provides relief for the unbanked, and facilitates global financial inclusion.
Another interesting metric is the ranking of the Narrow Bitcoin Money Stock (M1) compared to the money stock of all separate nations (and the European Union). At approximately $5bn, bitcoin money stock currently ranks at 100 out of 191, recently surpassing Iceland and Lebanon.
In some ways, government hearings on the Bitcoin protocol are like studying gravity. It’s useful information if you didn’t already understand the properties, but it does not allow much latitude for alteration. A futuristic potential Govcoin would be merely one of many cryptographic monetary units.
At the end of the day, all this attention on anti-money laundering laws and financial crime may be misplaced, because the real show with bitcoin will be at the Federal Reserve and the potential impacts on administering monetary policy.
Delaying that moment serves only to increase the clout and power of the other jurisdictions competing for this lucrative business. A free and robust bitcoin economy drives growth and jobs, provides relief for the unbanked, and facilitates global financial inclusion.
Another interesting metric is the ranking of the Narrow Bitcoin Money Stock (M1) compared to the money stock of all separate nations (and the European Union). At approximately $5bn, bitcoin money stock currently ranks at 100 out of 191, recently surpassing Iceland and Lebanon.
In some ways, government hearings on the Bitcoin protocol are like studying gravity. It’s useful information if you didn’t already understand the properties, but it does not allow much latitude for alteration. A futuristic potential Govcoin would be merely one of many cryptographic monetary units.
At the end of the day, all this attention on anti-money laundering laws and financial crime may be misplaced, because the real show with bitcoin will be at the Federal Reserve and the potential impacts on administering monetary policy.
http://www.coindesk.com/us-already-ceded-dominance-bitcoin-trading/
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