From you, I am not picking up the distinct odor of unfettered idealism. It's the principle, man - the principle!
the principle that they dont want to regulate bitcoin...?
the principle that they dont want to offer money transmission licences for bitcoin businesses... ?
the principle that they want to keep their FIAT bait and switch tricks within their own non bitcoin boys clubs?
the principle that nothing stops people from buying bitcoin normally.. and then using bitcoin however people please?
all i see as being banned is FIAT paying EFT's that have a bitcoin hoard in the middle of it. basically no belgium winklevoss clones asking for Euro's for their shares.
which to me does not affect bitcoins usage or growth, just prevents FIAT investors making more FIAT.
If I'm reading the thread right this would also affect people doing useful commerce in bitcoin by preventing them from insuring themselves against changes in the price that affect them adversely. For example, if you're earning bitcoins but you need to pay your suppliers in euros, you'd want to short bitcoins to reduce your exposure. That way you'd give up part of the gains you make if the value of the bitcoin suddenly increased, but if the value of the bitcoin dropped, you'd still be able afford to pay your bills.
The result is exactly the opposite of what the regulators say they're trying to achieve, because the vendor ends up much more exposed to currency volatility than they could be.
that's an interesting theory, and certainly if we did have an options market the price would be much more stable and it would be easier to conduct commerce in Bitcoin.
-bm
