Congressional Research Service Quietly Revises Bitcoin Report

[row5_seat47]

Last week, the Congressional Research Service updated their Bitcoin: Questions, Answers, and Analysis of Legal Issues document to reflect current events....
http://letstalkbitcoin.com/blog/post/crs-quietly-revises-bitcoin-report

[Ibitcoinloan]

Thanks great link to us gov

Congress states in their report

BITCOIN IS SIMILAR TO A GOLD STANDARD

WOW

This is from congress report thats huge news

Therefore, the supply of Bitcoins does not depend on the monetary policy of a virtual central bank. In this regard, although a fiat currency, the Bitcoin system’s operation is similar to the growth of money under a gold standard, although historically the amount of gold mined was more erratic than the growth of the supply of Bitcoins is purported to be. Depending on one’s perspective this attribute can be a virtue or a vice.

[michaelwang33]

I hope this will allow members of congress become more informed about bitcoin and hopefully will try to embrace it more.

[Geremia]

Here it is for free:

Elwell, Craig Kent, M. Maureen Murphy, Michael V Seitzinger, Library of Congress, and Congressional Research Service. Bitcoin Questions, Answers, and Analysis of Legal Issues. Washington, D.C.: Congressional Research Service, 2013. (updated: January 28, 2015)

It's pretty interesting, just to see how how they understand Bitcoin.