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Title: 2013-11-14 ZeroHedge - Meet the New York Superintendent Who Can't Wait To Regula Post by: cr1776 on November 15, 2013, 03:02:55 PM 2013-11-14 ZeroHedge - Meet the New York Superintendent Who Can't Wait To Regulate Bitcoin
http://www.zerohedge.com/news/2013-11-14/meet-new-york-superintendant-who-cant-wait-regulate-bitcoin [updated] The final quote: Quote "That said, NYDFS also believes that it is in the long-term interest of the virtual currency industry to put in place appropriate guardrails that protect consumers, root out illegal activity, and safeguard our national security." So, shouldn't he be looking at the dollar instead? Title: Re: 2013-11-14 ZeroHedge - Meet the New York Superintendent Who Can't Wait To Regula Post by: symaxian on November 15, 2013, 03:10:43 PM Link:
http://www.zerohedge.com/news/2013-11-14/meet-new-york-superintendant-who-cant-wait-regulate-bitcoin Title: Re: 2013-11-14 ZeroHedge - Meet the New York Superintendent Who Can't Wait To Regula Post by: lumierre on November 15, 2013, 04:01:16 PM Streisand effect incoming. ;D
Title: Re: 2013-11-14 ZeroHedge - Meet the New York Superintendent Who Can't Wait To Regula Post by: Gabi on November 15, 2013, 04:26:31 PM Funny, they speak about "their national security"
Since i'm european, this is NOT for my national security :-\ Bitcoin is international, it is about their world, not about their small nation Title: Re: 2013-11-14 ZeroHedge - Meet the New York Superintendent Who Can't Wait To Regula Post by: callem on November 15, 2013, 05:50:02 PM Bitcoin is not a single entity that can be regulated or shut down. As long as there's a single copy of the blockchain anywhere, on any hard drive in the world, the network will rebuild itself, even if every other node had been destroyed. It may seem unsettling, but there is actually nothing that can stop it, short of 'turning off the internet', which is of course impossible, since the internet itself was designed to reconfigure itself in the face of any disruption.
Bitcoin will prevail, its code does not permit any other outcome. Title: Re: 2013-11-14 ZeroHedge - Meet the New York Superintendent Who Can't Wait To Regula Post by: cr1776 on November 15, 2013, 06:18:16 PM It is like trying to regulate pi.
Funny, they speak about "their national security" Since i'm european, this is NOT for my national security :-\ Bitcoin is international, it is about their world, not about their small nation Title: Re: 2013-11-14 ZeroHedge - Meet the New York Superintendent Who Can't Wait To Regula Post by: symaxian on November 15, 2013, 06:25:54 PM It may seem unsettling, but there is actually nothing that can stop it, short of 'turning off the internet', which is of course impossible, since the internet itself was designed to reconfigure itself in the face of any disruption. Bitcoin will prevail, its code does not permit any other outcome. While it may seem poetic and pretty awesome all around, saying that the internet can reconfigure itself in the face of disruption is a bit of an overstatement, states can and have many times blocked full access to the internet, though small amounts of information have always gotten through in other ways. I would argue that the biggest threat to Bitcoin adoption is by far the power of the state. Title: Re: 2013-11-14 ZeroHedge - Meet the New York Superintendent Who Can't Wait To Regula Post by: callem on November 15, 2013, 06:43:13 PM It may seem unsettling, but there is actually nothing that can stop it, short of 'turning off the internet', which is of course impossible, since the internet itself was designed to reconfigure itself in the face of any disruption. Bitcoin will prevail, its code does not permit any other outcome. While it may seem poetic and pretty awesome all around, saying that the internet can reconfigure itself in the face of disruption is a bit of an overstatement, states can and have many times blocked full access to the internet, though small amounts of information have always gotten through in other ways. I would argue that the biggest threat to Bitcoin adoption is by far the power of the state. It could work in N. Korea and maybe even China, but such actions may well encounter a bit of resistance in the free world. HAL: "I know that you and Frank were planning to disconnect me, and I'm afraid that's something I cannot allow to happen." Title: Re: 2013-11-14 ZeroHedge - Meet the New York Superintendent Who Can't Wait To Regula Post by: aigeezer on November 17, 2013, 01:45:02 PM It is like trying to regulate pi. Funny, they speak about "their national security" Since i'm european, this is NOT for my national security :-\ Bitcoin is international, it is about their world, not about their small nation They tried that (sort of) in Indiana in 1897. http://en.wikipedia.org/wiki/Indiana_Pi_Bill Title: Re: 2013-11-14 ZeroHedge - Meet the New York Superintendent Who Can't Wait To Regula Post by: cr1776 on November 17, 2013, 11:27:09 PM I remember that now that you mention it! The stupidity of people should not be underestimated. (Kind of like the famous PT Barnum quote)
It is like trying to regulate pi. Funny, they speak about "their national security" Since i'm european, this is NOT for my national security :-\ Bitcoin is international, it is about their world, not about their small nation They tried that (sort of) in Indiana in 1897. http://en.wikipedia.org/wiki/Indiana_Pi_Bill Title: Re: 2013-11-14 ZeroHedge - Meet the New York Superintendent Who Can't Wait To Regula Post by: prophetx on November 17, 2013, 11:44:27 PM The world is overrun with idiocy.
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