Topic: Inflection point: Bitcoin Comes Under Senate Scrutiny (USA) - page 2. (Read 2507 times)
Seems like paypal and western union dying already and they want to buy the senators to aid their greed with legislation.
They are just discussing bitcoin. They aren't offering up legislation. And if you read their comments about it, they don't hate bitcoin, they just want to make sure that they understand it. I'm not too worried about this. In fact, I think its bullish.
For Bitcoin to really take off as a currency and as a asset class in the US, we need guidance by the government. Guidance gives everyone the rules and makes everyone feel safe. You can bet that all the big $$ investors in Bitcion businesses are looking forward to what the committee is going to say.
For Bitcoin to really take off as a currency and as a asset class in the US, we need guidance by the government. Guidance gives everyone the rules and makes everyone feel safe. You can bet that all the big $$ investors in Bitcion businesses are looking forward to what the committee is going to say.
Provided that their decision doesn't stray from the current FinCEN guidance, there is no issue. At worst, we'll see a drop-off in mining, as mercenary miners flee the swamp of regulation; however, their rigs will then flow, via the market, to people willing to spend their bitcoins for goods and services, rather than to cash out into national currency (as such miners are, according to the current FinCEN guidance, explicitly not subject to regulation). That'd be the extent of the impact, as far as I can see, and it'd be short-term pain for long-term gain.
Of course, if they decide the law needs to change, all bets are off. But whether or not the community continues to exist in its current form, I very much doubt that legislation can cram the Genie of Technology back into its bottle.
Of course, if they decide the law needs to change, all bets are off. But whether or not the community continues to exist in its current form, I very much doubt that legislation can cram the Genie of Technology back into its bottle.
Life will go on.
True.They might might exchange's lives more challenging though. CampBX is adding an ACH option, which I am looking forward to but figured that is too good to be true, so expect the appropriate murphy's law situation to spontaneously slap me in the face.
Nothing will happen but lots of pompous talk. If they create regulation it won't be enforceable. Some will follow it others won't. Life will go on.
lmao
Bitcoin is like a hot babe. You don't get to fuck her, she gets to fuck you. Old US senate men don't know anything. Bitcoin is too great to be stopped.
Yes.
Edit; But expect more AML/KYC style bullshit.
Edit; But expect more AML/KYC style bullshit.
Quote
Bitcoin is about to get some time in the Capitol Hill spotlight.
A pair of Senate committees will hold hearings on the policy issues raised by virtual currencies in the coming weeks, according to Senate aides, a development that comes amid growing attention from government regulators to digital forms of money.
http://blogs.wsj.com/washwire/2013/11/05/bitcoin-comes-under-senate-scrutiny/A pair of Senate committees will hold hearings on the policy issues raised by virtual currencies in the coming weeks, according to Senate aides, a development that comes amid growing attention from government regulators to digital forms of money.
What do you think? are we going to survive?
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