CEO Bobby Lee of BTC China "“We’re happy to see the government.."

AnonyMint

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Quote from: wopwop on December 05, 2013, 05:50:18 AM

Quote from: bitcon on December 05, 2013, 05:47:38 AM

someday these panic sellers will learn that to regulate is to legitimize.

someday these panic buyers will learn that to regulate means its no better than the usdollar

You and I both have brown ignores. That is the price of speaking the truth.

Most people don't yet see what is coming. And they think it is normal. They have a big "oh shit" coming when it is already too late for them. Just let them go over the cliff. It is their destiny.

Herp

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Merit: 250

Quote from: Honeypot on December 05, 2013, 08:04:53 AM

Quote from: wopwop on December 05, 2013, 05:50:18 AM

Quote from: bitcon on December 05, 2013, 05:47:38 AM

someday these panic sellers will learn that to regulate is to legitimize.

someday these panic buyers will learn that to regulate means its no better than the usdollar

You might want to rethink that 'rebuke' if you consider the fact that US Dollar became the world's defacto main reserve currency and wielding a power empires in history only dreamed of having.

Of course, your line of thought would love to think that current world financial situations gives you the right to pass such historical judgment upon something you never had a hand in controlling.

I for one welcome this opportunity to buy cheaper coins on something that most likely would not go away too soon.

Also, I actually lol'd. That kind of sweeping eager judgmental statement easily trips over itself...as you just proved.

Well said.

Honeypot

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Quote from: wopwop on December 05, 2013, 05:50:18 AM

Quote from: bitcon on December 05, 2013, 05:47:38 AM

someday these panic sellers will learn that to regulate is to legitimize.

someday these panic buyers will learn that to regulate means its no better than the usdollar

You might want to rethink that 'rebuke' if you consider the fact that US Dollar became the world's defacto main reserve currency and wielding a power empires in history only dreamed of having.

Of course, your line of thought would love to think that current world financial situations gives you the right to pass such historical judgment upon something you never had a hand in controlling.

I for one welcome this opportunity to buy cheaper coins on something that most likely would not go away too soon.

Also, I actually lol'd. That kind of sweeping eager judgmental statement easily trips over itself...as you just proved.

Herp

sr. member

Activity: 294

Merit: 250

Quote from: mateo on December 05, 2013, 06:50:38 AM

Quote from: wopwop on December 05, 2013, 05:50:18 AM

Quote from: bitcon on December 05, 2013, 05:47:38 AM

someday these panic sellers will learn that to regulate is to legitimize.

someday these panic buyers will learn that to regulate means its no better than the usdollar

Sorry, but it's the greedy speculators that are screwing over Bitcoin right now, not the governments.

Even with strict regulation, Bitcoin, unlike US dollar, would still be:
1. Relatively anonymous;
2. Governments not able to confiscate them;
3. Easy and cheap to use worldwide;

But for Bitcoin to be a currency it must become more stable first, and any measures that would reduce this insane volatility are welcome.

I don't think volatility is bad in the Bitcoin deflationary context. It's an argument detractors use a lot, trying to undermine the currency, but it's a superficial one.

Many merchants are starting to realize volatility can actually play in their favor, especially if they have a fiat cash cushion for short term needs. The number of businesses accepting Bitcoin straight out, without payment processors like Bitpay, is growing.

mateo

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Quote from: wopwop on December 05, 2013, 05:50:18 AM

Quote from: bitcon on December 05, 2013, 05:47:38 AM

someday these panic sellers will learn that to regulate is to legitimize.

someday these panic buyers will learn that to regulate means its no better than the usdollar

Sorry, but it's the greedy speculators that are screwing over Bitcoin right now, not the governments.

Even with strict regulation, Bitcoin, unlike US dollar, would still be:
1. Relatively anonymous;
2. Governments not able to confiscate them;
3. Easy and cheap to use worldwide;

But for Bitcoin to be a currency it must become more stable first, and any measures that would reduce this insane volatility are welcome.

Herp

sr. member

Activity: 294

Merit: 250

Bobby Lee also added:

Quote

Regulations would be for “the good of the consumer,” he said. BTC is seeking recognition of the currency so it can be used to buy goods and services instead of being used for speculation, he said.

Herp

sr. member

Activity: 294

Merit: 250

Quote from: Sindelar1938 on December 05, 2013, 06:13:47 AM

It's an acknowledgment of BTC, the govt is pretty much saying okay you can play in it but dont hurt yourself and come running to us
And dont break the law
Which is pretty much what any responsible gov would say

Exactly. I also found the part about regulators working behind the scenes, but parties involved not yet allowed to spill the beans on the details.

Quote

PBOC, China Banking Regulatory Commission and other regulators have held discussions about drafting rules for trading platforms that facilitate the buying and selling of the virtual money, two people with direct knowledge of the matter said. They were not authorized to speak because the information is not public.

This is what actually holds back businesses, the lack of visibility. Once regulation rolls out, things should get even more interesting.

cfrm

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Quote from: wopwop on December 05, 2013, 05:50:18 AM

Quote from: bitcon on December 05, 2013, 05:47:38 AM

someday these panic sellers will learn that to regulate is to legitimize.

someday these panic buyers will learn that to regulate means its no better than the usdollar

They won't be regulating the Blockchain.

Sindelar1938

hero member

Activity: 490

Merit: 500

It's an acknowledgment of BTC, the govt is pretty much saying okay you can play in it but dont hurt yourself and come running to us
And dont break the law
Which is pretty much what any responsible gov would say

bryant.coleman

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Merit: 1217

Quote from: wopwop on December 05, 2013, 05:50:18 AM

someday these panic buyers will learn that to regulate means its no better than the usdollar

No. Government may be able to tax BTC transactions. But they will not be able to do much further.

bitcon

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Quote from: wopwop on December 05, 2013, 05:50:18 AM

Quote from: bitcon on December 05, 2013, 05:47:38 AM

someday these panic sellers will learn that to regulate is to legitimize.

someday these panic buyers will learn that to regulate means its no better than the usdollar

if you believe cryptos can be regulated to the extent of fiat you are delusional.

wopwop

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Quote from: bitcon on December 05, 2013, 05:47:38 AM

someday these panic sellers will learn that to regulate is to legitimize.

someday these panic buyers will learn that to regulate means its no better than the usdollar

bitcon

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someday these panic sellers will learn that to regulate is to legitimize.

Herp

sr. member

Activity: 294

Merit: 250

Quote

PBOC, China Banking Regulatory Commission and other regulators have held discussions about drafting rules for trading platforms that facilitate the buying and selling of the virtual money, two people with direct knowledge of the matter said. They were not authorized to speak because the information is not public.

“We’re happy to see the government start regulating the Bitcoin exchanges,” Chief Executive Officer Bobby Lee of BTC China, the largest Bitcoin exchange in the country.

http://www.bloomberg.com/news/2013-12-05/china-s-pboc-bans-financial-companies-from-bitcoin-transactions.html

Looks bullish to me, just that the people are reading this the wrong way.

Edit:

Bobby Lee also added:

Quote

Regulations would be for “the good of the consumer,” he said. BTC is seeking recognition of the currency so it can be used to buy goods and services instead of being used for speculation, he said.

Topic: CEO Bobby Lee of BTC China "“We’re happy to see the government.." (Read 1930 times)