BitInstant's Trip to Brazil - Global Payments Forum

[justusranvier]

My favorite part is the bit about the Federal Reserve employees taking the bitcoins you sent them back to their lab to try to print more of them.

[1715241970]

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[DublinBrian]

Now you've kicked the hornets nest. Awakened the sleeping giant. Yanked the tail of the tiger.

+1

I dont know that it was wise for Erik to argue with the Dodd-Frank guy. That guy is going to go back to his organisation and spread the message that bitcoin is a tool for circumventing the law. That might just bring on the government attacks sooner.

Id prefer if bitcoin were off their radar for as long as possible. We need time to integrate bitcoin with the real economy so deeply that it will be impossible to marginalise and criminalise, when the authorities decide to attack.

[Severian]

We need time to integrate bitcoin with the real economy so deeply that it will be impossible to marginalise and criminalise, when the authorities decide to attack.

Bitcoin is now so international in scope that there's not a lot that can be done. Sure, they could pass laws in different countries, but they move so slowly that by then, it will be too late. It would just drive the value of the currency up even more if and when they tried to regulate its use.

I'm glad they poked them. Hell, I'm amazed they got the opportunity. That alone shows where this protocol stands at the moment.

[jgarzik]

So... the fact that Gavin was invited to give a talk to the CIA over a year ago didn't mean Bitcoin was already on their radar?

CIA != Fed

I know a lot of people see "the government" and instantly assume that a presentation at government office A will instantly result in the entire federal workforce becoming aware of said presentation's contents, but that's not how real life works

In 2010, the federal government workforce numbered at 4.4 million people.  And most of those are hunkered down in their little slice of government, not talking to other branches.

[Severian]

I know a lot of people see "the government" and instantly assume that a presentation at government office A will instantly result in the entire federal workforce becoming aware of said presentation's contents, but that's not how real life works

And on top of that, there's this:

"It is difficult to get a man to understand something, when his salary depends upon his not understanding it."

-Upton Sinclair

Governments are slow, lumbering beasts. Bitcoin is a mammal to the dinosaur of centralized control.

[Domrada]

So... the fact that Gavin was invited to give a talk to the CIA over a year ago didn't mean Bitcoin was already on their radar?

CIA != Fed

I know a lot of people see "the government" and instantly assume that a presentation at government office A will instantly result in the entire federal workforce becoming aware of said presentation's contents, but that's not how real life works

In 2010, the federal government workforce numbered at 4.4 million people.  And most of those are hunkered down in their little slice of government, not talking to other branches.

No kidding?

The point of my post was that "the government" already knows about Bitcoin. From the CIA, to the FBI, to Chuck Shumer, to presidential candidate Mitt Romney, et cetera I'm sure. Suggesting that E. Voorhees poked the beehive giving a few bitcents to some Fed employees is silly.

For the record, I was sincerely applauding the poking of said beehive. It needs poking, badly. It should be poked and often, and by someone who knows how.

[lonelyminer (Peter Šurda)]

Well done Charlie and Eric.

Just a minor comment from a notorious nitpicker. Bitcoin is not the first scarce digital commodity. I found at least one precedent: IP addresses. They are scarce, digital, and have a market price.

Cheers from the Bitcoin conference.

[evoorhees]

Well done Charlie and Eric.

Just a minor comment from a notorious nitpicker. Bitcoin is not the first scarce digital commodity. I found at least one precedent: IP addresses. They are scarce, digital, and have a market price.

Cheers from the Bitcoin conference.

Fair point

[evoorhees]

Now you've kicked the hornets nest. Awakened the sleeping giant. Yanked the tail of the tiger.

+1

I dont know that it was wise for Erik to argue with the Dodd-Frank guy. That guy is going to go back to his organisation and spread the message that bitcoin is a tool for circumventing the law. That might just bring on the government attacks sooner.

Id prefer if bitcoin were off their radar for as long as possible. We need time to integrate bitcoin with the real economy so deeply that it will be impossible to marginalise and criminalise, when the authorities decide to attack.

Let's not use the word "argue."  The whole event was for networking and education, and this is what happened. The Dodd-Frank guy works for the Fed, yes, but was presenting on a piece of legislation written by congress. Further, from his tone, he was none-too-thrilled with the legislation either, so me describing to him how Bitcoin might cause problems for it did not antagonize him personally in any significant way.

I don't want to hide in the dark with what we're doing. I want to speak with those who are part of the status quo, and demonstrate to them how amazing this technology is. Yes, some will fight us, but my confidence in Bitcoin is such that I believe it can stand up on its own, and will prove itself to the world. I've taken it upon myself to simply inform, educate, and discuss along the way.

[Evolvex]

So... the fact that Gavin was invited to give a talk to the CIA over a year ago didn't mean Bitcoin was already on their radar?

CIA != Fed

I know a lot of people see "the government" and instantly assume that a presentation at government office A will instantly result in the entire federal workforce becoming aware of said presentation's contents, but that's not how real life works

In 2010, the federal government workforce numbered at 4.4 million people.  And most of those are hunkered down in their little slice of government, not talking to other branches.

No kidding?

The point of my post was that "the government" already knows about Bitcoin. From the CIA, to the FBI, to Chuck Shumer, to presidential candidate Mitt Romney, et cetera I'm sure. Suggesting that E. Voorhees poked the beehive giving a few bitcents to some Fed employees is silly.

For the record, I was sincerely applauding the poking of said beehive. It needs poking, badly. It should be poked and often, and by someone who knows how.

me, me, please can I do some poking - your quite right, I think they need poking - the world needs to wake up, and if that means poking a beehive, then poke away I say.

Good write up by the way evoorhess - jammy sod tho, your life seems so cool!