I agree on all points mentioned above....not so sure that Lawsky is on the up and up with us but in his own words "we will have to wait and see".
The Coinsetter rep did an articulate job! I was impressed. We need more professionals like him on our side.
I hope indeed Lawsky is truthful in saying that he wants businesses to thrive.
I'm sure that the underlying threat is that bitcoin can thrive as long as it is within his guidelines.
He seems to be pushing for this "narco-terrorism" angle a bit much. Wtf can we assume a narco-terrorist is?
Is that his way to describe drug trafficing?
If he really wanted to stop narco-terrorism he would have kicked HSBC out of the state and arrested some of the executives for their money laundering. They are the worlds largest money laundering outfit are they not?
He should ask himself why the blockchain is a "narco-terroism" threat when every transaction is public and 99% are not anonymous (considering the power the NSA has over us all).
We will have to "wait and see" if his guidelines are compatible with the consensus of bitcoin users...not sure he has much power over a global network with the power we yield...in one endgame scenario bitcoin may be outlawed in NY state. If that happens the only loser in that breakup will be NY state. In another endgame NY state champions bitcoin with new regs that will allow it to stretch its legs and the winner will be NY state AND bitcoin.
I could care less is my exchange is in NY or China...let's keep them here if we have a choice.
I really like your last point.
As for the "narco-terrorism" i'm sure he's referring to SR. What he may not realize though, and credit to Trace Mayer for this point, is that SR turns the drug game from "who has the most guns and gang members", to "who has the best product and customer service". It is literally the best possible anti narco-terrorism tool ever.
Shame they don't realize that (or don't care).
