Absolutely everything else is already taxed and regulated (or made illegal). Can't we have one, just one tiny little thing which isn't? You know...if stuff can't get by without being regulated by people who had no part in creating and maintaining it, if it is absolutely necessary to have oversight by people whose reward is in no way connected to their performance, if it really absolutely positively can't work that way - why worry? Let it serve as an example, a final undeniable argument that indeed you can't have nice things without government oversight and regulation. I mean the result is obvious and certain and it would serve as a bulletproof argument and example against these crazy anarchist libtards who keep on insisting on ridiculous concepts like being able to make your own decisions while accepting responsibility for them. It would show them once and for all that it simply can't work. People are too greedy and stupid to be left to make their own decisions, we need other greedy and stupid people to make the decisions for them, because putting greedy and stupid people into positions of power with unlimited resources and zero responsibility makes them altruistic and smart, this is a well-known fact which has been proven again and again, just like the fact that nothing can exist without government regulation.
Bitcoin is like the gateway drug of crypto. Just to get them started, and then once they're comfortable you start mixing in some coin-join and ring signatures...
The transparent ledger allows them the illusion of control, but once people have gotten that first taste of what bitcoin can offer, they'll be hooked. At that point, if they try to regulate too heavily, people will just fork the code or move on to an alt that
can't be regulated.
Regulation is a problem that will solve itself, one way or the other.I think that's pretty much right. Even if the BitLicense isn't to everyones taste, I genuinely believe the Lawsky team are trying to give Bitcoin as much room as possible. Same with London. What they realize (or should realize) is that if they go too far, other countries will take the lead on this and leave them behind. That's one of the real strengths of Bitcoin. Not that governments can't do anything about it, because they can. But Bitcoin isn't dependent on one state. If New York or London doesn't want it, there are plenty of other places that will take it to heart. So why fight it?