Topic: Bitcoin's Best Friend - the Enumerated Powers (Read 818 times)
Imagine if an economically devastated city like Detroit decided to adopt bitcoin friendly policies such as tax breaks or exemptions for bitcoin transactions, accepting bitcoin tax payment, adding bitcoin to its pension fund, buying bitcoin ATMs, etc.
This is a bullish case for Bitcoin.
I think many on these forums are paranoid skeptics that the United States Federal Reserve would allow its monopoly to be threatened in any form. Yes I fit within that circle too. I think that case is true. But in light of recent years, we've seen from the Tea Party, Ron Paul supports and some more fiscal conservatives, a larger conversation encompassing the enumerated powers in this country. The conversation around the distrust of the Federal Reserve has been growing. Its out in the open. States are aware of it. The Conservative states have been fighting for more state control and power. Remember back in May when Arizona was the second state after Utah to legislate gold as legal tender?
http://www.zerohedge.com/news/2013-05-01/arizona-becomes-2nd-state-make-gold-silver-legal-tender
It wouldn't be hard for us to imagine, if the economy of bitcoin grows, some states may move to legislate bitcoin as legal tender -- or at least make laws that are more friendly to creating bitcoin businesses. It brings jobs and taxes to the country. China does this through Special Economic Zones. Some day, states will take this idea and run with it. Their goals would be to become special economic zones for bitcoin. Remember at a local level, states work for their constituents. They are more sensitive to their votership than those in DC. They have to hear and work to benefit their state.
We've seen this story previously. In the beginning of Credit Cards, credit card companies were finding it very hard to establish themselves because of rules and regulations. Then what happened? South Dakota removed their restrictions, and Citibank moved their offices to the state and suddenly there was a boom in Credit Cards business within the state. Soon, within a decade, other states saw the tremendous grow and soon followed suit in their laws. I say this. We as a community should be pushing the conversation in this direction. To have these states dream. To picture big that one day a global bitcoin tech company could spring its roots on their grounds. We should be supportive of the states (and be less concerned about the federal government) to enact sensible AML/KNY laws, while at the same time positioning themselves to benefit from the new digital economy.
In some ways or another, the United State's enumerated powers may be bitcoin's best friend. Unlike the Federal government, we have the Ability. WE CAN influence our state and local governments.
I think many on these forums are paranoid skeptics that the United States Federal Reserve would allow its monopoly to be threatened in any form. Yes I fit within that circle too. I think that case is true. But in light of recent years, we've seen from the Tea Party, Ron Paul supports and some more fiscal conservatives, a larger conversation encompassing the enumerated powers in this country. The conversation around the distrust of the Federal Reserve has been growing. Its out in the open. States are aware of it. The Conservative states have been fighting for more state control and power. Remember back in May when Arizona was the second state after Utah to legislate gold as legal tender?
http://www.zerohedge.com/news/2013-05-01/arizona-becomes-2nd-state-make-gold-silver-legal-tender
It wouldn't be hard for us to imagine, if the economy of bitcoin grows, some states may move to legislate bitcoin as legal tender -- or at least make laws that are more friendly to creating bitcoin businesses. It brings jobs and taxes to the country. China does this through Special Economic Zones. Some day, states will take this idea and run with it. Their goals would be to become special economic zones for bitcoin. Remember at a local level, states work for their constituents. They are more sensitive to their votership than those in DC. They have to hear and work to benefit their state.
We've seen this story previously. In the beginning of Credit Cards, credit card companies were finding it very hard to establish themselves because of rules and regulations. Then what happened? South Dakota removed their restrictions, and Citibank moved their offices to the state and suddenly there was a boom in Credit Cards business within the state. Soon, within a decade, other states saw the tremendous grow and soon followed suit in their laws. I say this. We as a community should be pushing the conversation in this direction. To have these states dream. To picture big that one day a global bitcoin tech company could spring its roots on their grounds. We should be supportive of the states (and be less concerned about the federal government) to enact sensible AML/KNY laws, while at the same time positioning themselves to benefit from the new digital economy.
In some ways or another, the United State's enumerated powers may be bitcoin's best friend. Unlike the Federal government, we have the Ability. WE CAN influence our state and local governments.
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