I think most of those people in that meeting have a good idea about Bitcoin and the Blockchain and they are gearing up to gather as much input from the experts, before they can approach the legislators. It would have been better if they could have had some developers or Bitcoin representatives there, without any business interests.
The afternoon session was just as informative and I sat through the 5 hour webcast for the whole thing to see what the direction will be for these discussions. I think a lot of education is still needed to bring the legislators on board.
Topic: Over complicating the issue - USA / Bitcoin / Crypto currencies (Read 390 times)
January 17, 2016, 07:17:10 AM
Watching the Beyond Bitcoin : Morning Webcast Session : https://www.youtube.com/watch?v=R0iArSIU0Z8&feature=youtu.be&t=1h16m43s - I could not help by realizing how
people in the USA and many other countries over complicate issues. There are so many hidden agendas, when a new and ground breaking innovation occur, that we are getting
bogged down in the mud in the useless noise. Banks join the discussions and try to protect their profits / Ripple and competing Alt coins try to grab a share of the markets and
third-party operators like BitPay and exchanges want a share of the pie.
I think the only guy around that table, who made a little bit of sense, was Glenn Hutchins at 3h14min onwards... give or take one or two other speakers, who made some
valid points. eg. Barry {but thats just my opinion}
What I do know is, that Bitcoin is not going to go away quietly and the Public Blockchain will be here for the long ride, until the bankers and the lobbyists and the people with
these hidden agendas have managed to use their full resources to influence the regulators to either slow it down or to ban it.
The great haste now to regulate this technology, is coming from the banks and the competitors, who is in the process of developing their own Blockchain based technologies
or companies like Ripple, who has a Alt coin and wants to take the Bitcoin spot, but are held back by the regulatory environment. The banking industry is trying to hijack
the Bitcoin technology and are now pushing to rush the regulation.
Bitcoin {Public Blockchains} WILL continue in many other countries, were regulation allows for it or where people have different agendas. In the end, it will be our task to
educate and highlight these agendas to the general public, for them to make a informed decision on what route would be the best to take for the future.
As a Crypto Currency community, that should be our primary concern... not how much money WE can make from this, but the sharing of the innovation and the freedom this
technology can bring to MANY people on a global scale... not just in specific countries.
people in the USA and many other countries over complicate issues. There are so many hidden agendas, when a new and ground breaking innovation occur, that we are getting
bogged down in the mud in the useless noise. Banks join the discussions and try to protect their profits / Ripple and competing Alt coins try to grab a share of the markets and
third-party operators like BitPay and exchanges want a share of the pie.
I think the only guy around that table, who made a little bit of sense, was Glenn Hutchins at 3h14min onwards... give or take one or two other speakers, who made some
valid points. eg. Barry {but thats just my opinion}
What I do know is, that Bitcoin is not going to go away quietly and the Public Blockchain will be here for the long ride, until the bankers and the lobbyists and the people with
these hidden agendas have managed to use their full resources to influence the regulators to either slow it down or to ban it.
The great haste now to regulate this technology, is coming from the banks and the competitors, who is in the process of developing their own Blockchain based technologies
or companies like Ripple, who has a Alt coin and wants to take the Bitcoin spot, but are held back by the regulatory environment. The banking industry is trying to hijack
the Bitcoin technology and are now pushing to rush the regulation.
Bitcoin {Public Blockchains} WILL continue in many other countries, were regulation allows for it or where people have different agendas. In the end, it will be our task to
educate and highlight these agendas to the general public, for them to make a informed decision on what route would be the best to take for the future.
As a Crypto Currency community, that should be our primary concern... not how much money WE can make from this, but the sharing of the innovation and the freedom this
technology can bring to MANY people on a global scale... not just in specific countries.
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