[2015-06-03] CTUK: Bank of England, HMT, UK Gov & the Future of the Digital Curr

[CoinTelegraph UK]

While it seems from the outside looking in that the Bank of England, The United Kingdom Government and Her Majesty’s Treasury are pro digital currencies, just what direction are they really going in and at what cost will their final decisions have for the decentralised concept the protocol was designed for.

http://cointelegraph.uk/news/114454/bank-of-england-hmt-uk-gov-the-future-of-the-digital-currency-industry-in-great-britain-

[Mr Crabs]

A few politicians including George Osbourne have been positive about bitcoin and the money it can bring in. It's in their interests to work with it as it's not going to go away any time soon so they might as well encourage innovation and acceptance around it because it's sure to develop into a multi billion industry. I'd certainly rather have them on our side than against that's for sure.

[CoinTelegraph UK]

I agree with you on everything there Mr Crabs except whether their on our sides or against! When has the government ever done anything for the people that's not in the interests of the banking and big corporations industry first and foremost?

Bitcoin and the Blockchain are self regulatory and it was the decentralized concept that brought it to were it is today. Governments trying to take control of this through regulations will only give us more of the same old faces wearing new suits, and will only bring about more of what we already have which is clearly broken and can't be fixed!

[Lethn]

Speaking as somebody who was born in the UK, don't fucking trust a word they're saying, while certainly they may be looking at it as a legitimate trade, they are more than likely trying to investigate how they can tax it, regulate it and ultimately prevent people from moving their wealth overseas. Just like with congress you have to sift through their bullshit and find out what they're actually writing into law before jumping to any conclusions, they say these things precisely because they think we won't bother to look any further into what they're saying.