2013-05-10 TVNZ: Kirk Hope on Bitcoin + News Segment

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Establishment nontechnical talking head interviewing crony bankster in New Zealand.  You can guess how this one goes without even watching it.  The FUD level is off the charts.

CEO of the New Zealand Bankers' Association Kirk Hope on the digital currency Bitcoin.

http://tvnz.co.nz/q-and-a-news/kirk-hope-bitcoin-video-5428259

Bonus news segment on the OneNews programme:

Some say the bitcoin is the future, others say it is a fad.

http://tvnz.co.nz/business-news/bitcoin-solid-investment-video-5434033

[cypherdoc]

yeah, the guy was a total unabashed idiot of the banking industry laughing, jokingly at the high profit levels from fees they make that are clearly threatened by Bitcoin.  as if acknowledging it somehow makes it ok and justifiable.

would someone please tell me who it is exactly who has been complaining to these regulators about the Bitcoin volatility that they are so focused on regulating?  anyone entering the market realizes the volatility and some, in fact, welcome it as a well understood phenomenon of an early market poised to grow. 

[hathmill]

Bitcoin shines light into the darkest corners of financial space.

[Missionary]

The amount of factual errors in this clip is incredible!

[Ares]

Current starbucks coffee index: $115.75 per cup

[Stephen Gornick]

"We've got some AML legislation coming on the 30th of June"

And he comments on this from an earlier report:
 - http://newzealandonlinenews.co.nz/2013/01/08/kirk-hope-banks-to-play-part-in-combating-money-laundering/

So it looks like NZ is just now going to start requiring KYC.

[cypherdoc]

Official complaint :

The stock market has just been  too volatile for me.

I've been shorting that mofo but it won't stop going up.

Would someone please step in and regulate that thing and put a stop to that?

[BitshireHashaway]

Way to many unfactual and untrue things in the video that made it just too annoying to watch. It would be nice if people researched and understood BTC before bashing it or trying to write an article/make a video about it.

[cypherdoc]

Way to many unfactual and untrue things in the video that made it just too annoying to watch. It would be nice if people researched and understood BTC before bashing it or trying to write an article/make a video about it.

the lady interviewer at least shined some light on the fact that the banks stand to lose alot of money if something like this catches on.

[BTCLuke]

The sheer bulk of misleading info and inaccuracies, in both of those clips, is staggering. TVNZ is either so completely incompetent that they wouldn't know a bitcoin from a physical gold coin, or they in fact are trying to mislead the public on purpose. (Propaganda)

That last line of the second vid sent chills down my spine: "With more regulation, experts predict Bitcoin will be the currency of choice..."

<facepalm.gif>

Thank goodness NZ doesn't matter at all in any way.

[TraderTimm]

What these 'regulators' don't realize is they are only facilitating the death of their own financial systems. Satoshi was no dope, he probably foresaw this exact thing.

1.) Bitcoin is created, gains small following
2.) Bitcoin gains larger audience, governments start to pay attention
3.) Regulations are enacted, the 'chokepoints' are given leeway for a short while - government relaxes and pats self on back
4.) More exchanges pop up in non-regulated areas, shifting traffic away and increasing bitcoin adoption
5.) Genuine panic ensues as governments all around the world realize they've enabled a financial singularity to grow in their financial systems
6.) The inevitable capitulation as bitcoin achieves true criticality and overwhelms every crap currency on the planet