Bitcoin Forum

What’s the last thing you expect an entrepreneur from one of the most prominent multi billion-dollar banking families in the United States to say? Would it include bitcoin in any form?
Many would suggest the digital currency would be a banker’s worst nightmare, but Matthew
http://newsbtc.com/wp-content/uploads/2014/07/Mellon-Family-Matthew-LG-WD-890x395.jpg
Taylor Mellon II — presently the Chairman of the New York Republican Party’s Finance Committee — seems to be quite the fan.
In an interview with Forbes, the highly-successful business man suggested digital currency could be the future of democracy in some respects.
“I feel like citizens are fed up with banksters,” he told the Forbes reporter over lunch. “We need to live in a more transparent, free democracy. The more secretive America becomes, the more dangerous it is.”
The key to this transparent and free democracy, he says, involves bitcoin — which has grown significantly over the past eighteen months.
“The banks are going to be scratching their heads,” he added.
It’s not difficult to see why Mellon is so infatuated with bitcoin. In fact, he’s said to have invested $2 million in an incubator that allows bitcoin-related companies to start up and flourish. That incubator is called CoinApex.
“Matthew is the kind of guy who’s very smart about attracting very talented people to help him figure it out,” said J. Todd Morley, a friend of Mellon’s and founder of Guggenheim Partners. “I know he’s been studying Bitcoin and talking to senior people in the industry.”
It’s certainly an interesting story, and one that is becoming increasingly common as those in the banking industry recognize the promise of this digital currency.
Moreover, there’s no shortage of interesting developments that are taking place with regard to start-ups in the space, which acts as an attractive opportunity for the wealthy investor.
You may very well hear a lot more of this type of optimism in the coming months.
Read the full story published at Forbes.
3-coin | http://www.3-coin.com/2014-07-09/4243/

FYI: This is one of the goons behind Coin Validation, whom are seeking to destroy essential Bitcoin features like fungibility and even decentralization, while profiting from regulation and compliance.

We don't need his kind in this space.

I concur.

From the above:

Democracy has to do with majority rule. Do you really want majority rule? In majority rule, if you are in the 49%, then you are forced to do what the 51% has decided, whether you like it or not. The wealthy like democracy, because they can manipulate the majority.

Bitcoin is not like that. Bitcoin has to do with the true description of anarchy. Bitcoin is freedom for ALL. Bitcoin has to do with, "If you like my form of freedom better - my fork - then use my client." Bitcoin is totally anti-democracy!

:)

BADecker is correct. Bitcoin is CONSENSUS based, like science itself.

Bitcoin is not, and NEVER will be a democracy, and thank fuck for that. The capitalist elite learned how to make a puppet-whore out of democracy a long time ago.

That's why America has been so thoroughly fucked over the course of the last 30-40 years (https://www.youtube.com/watch?v=TZU3wfjtIJY).

Do you have any evidence of that?

I would give him the benefit of the doubt.  It sounds like he just needs more education,
because no sane person would invest millions of dollars into Bitcoin companies while
seeking to destroy its essential properties.

The evidence is self-evident. From the Coin Validation site (https://coinvalidation.com/):

US Regulatory Compliance

Coin Validation was founded with the sole intent of addressing the question, "How do Bitcoin businesses achieve regulatory compliance within the United States?" Coin Validation is not an attempt to police Bitcoin. Coin Validation does not intend to create or maintain whitelists or blacklists of Bitcoin addresses or of the coins themselves.

Anybody who wants "US Regulatory Compliance," is someone who is ignorant of what it is. US Regulatory Compliance is banker-controlled democracy. It is slavery. If the bankers could find an easy way to regulate what do in your bedroom, they'ed do it.

If you want "US Regulatory Compliance," it's because you are accepting the bankers' controls so that you can get a payoff from them. You stand to benefit financially from the bankers' controls, to the detriment and harm and enslavement of average, everyday little people. And the end result is that YOU are going to be enslaved, too.

:)

huh ??? they just said they do NOT intend to create whitelists.
How are they threatening fungibility?

It's in the heading.

US Regulatory Compliance

They have such control through US Regulatory Compliance in the banking system, that they are increasing their wealth by leaps and bounds through such things as Quantum Easing. Yet, US Regulatory Compliance keeps us little people from ever receiving the results of all that QE money creation. In fact, things like QE are destroying the value of the dollar faster than ever. Dave Hodges at the Common Sense Show thinks that the big crash is coming within the next 30 days or so. See: http://www.thecommonsenseshow.com/2014/07/08/the-gates-of-hell-have-opened-and-the-us-is-being-attacked-and-occupied/.

And now a bunch of naive bitcoiners want US Regulatory Compliance, even if it doesn't have things like whitelists?

:)

Look at it this way. What if you are walking down the sidewalk in a big city like New York or Chicago. And what if you have a paper bag with $10,000 in it. And let's say that you need to stash the cash fast for some reason. Do you simply hand it off to the nearest stranger? You might in the movies. But in real life it doesn't happen that way often. Not if you ever want to see that money again. Besides, it probably would be hard to find a stranger who would take the money. He would think that it was hot or stolen or something.

In the same way that you are cautious of strangers, be cautious with your Bitcoin transactions.

The banks over the last hundred years have taught us to trust them. Now they are screwing us royally. Just look at all the fraudulent foreclosures in the news. And things seem to be getting worse.

Break free from this tyranny of trust you have gotten yourself into, and take responsibility for your own life. If you don't, the regulators and the banks will continue to screw you, and worse.

:)