2013-05-18 Reason.com - Bitcoin Foundation to hire first lobbyist.

[StarfishPrime]

http://reason.com/24-7/2013/05/18/bitcoin-foundation-to-hire-first-lobbyis

This is the whole (short) piece:

Peter Vessenes, the executive director of the Bitcoin Foundation who's also enmeshed in a messy lawsuit against Mt. Gox, also stressed the need for governmental cooperation.

"We'll be hiring someone to work on [Capitol] Hill and interact with regulators," Vessenes said. "I'm someone who thinks we should have a civil conversation... It's time to engage with regulators and have a good, productive conversation."

Then again, that didn't stop the E-Gold online payment system from being shut down after a federal indictment on charges of money laundering. Not only did E-Gold chairman Douglas Jackson interact with regulators, he even testified before the U.S. Congress a year before the indictment took place.

... May the force be with them. 

[TraderTimm]

I can't help but think this is a massive waste of money.

It isn't just because the USA political process is broken, its just a matter of numbers. Unless the Bitcoin Foundation can match the funds of the conventional financial system (Banks, Trading Firms, Exchanges), then any lobbying effort will fail. Policy in America is decided by who has the deepest pockets, not by who is "right".

It won't matter much anyway, because the Bitcoin phenomenon isn't just USA centric, thank Satoshi.

Node Graph: http://bitnodes.io

Lobbying Reference: http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/05-2/Lobbying%20ROI.jpg

[vokain]

I can't help but think this is a massive waste of money.

It isn't just because the USA political process is broken, its just a matter of numbers. Unless the Bitcoin Foundation can match the funds of the conventional financial system (Banks, Trading Firms, Exchanges), then any lobbying effort will fail. Policy in America is decided by who has the deepest pockets, not by who is "right".

It won't matter much anyway, because the Bitcoin phenomenon isn't just USA centric, thank Satoshi.

Node Graph: http://bitnodes.io

Lobbying Reference: http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/05-2/Lobbying%20ROI.jpg

At the very least Washington will have a resource to consult with, considering all the dinosaurs that don't get technology in Congress

[galambo]

Lobbyists don't do what many people assume they do.

A good lobbyist does not work in ways that are outwardly immoral or illegal.

They are masters of explaining to congressmen how a certain situation is unfair. They appeal to a congressmen's idealism to sometimes persuade them to do the right thing. The argument is always framed so that the desired action is the right and fair thing to do. Through certain manipulations sometimes this system is abused, but the driving force of it remains idealism and not corruption. I hope the foundation is successful because there appears to be a lot of unfairness in government's handling of MtGox up until now.

[Dusty]

Through certain manipulations sometimes this system is abused

I LOLled hard

[Gordonium]

Lobbyists don't do what many people assume they do.

A good lobbyist does not work in ways that are outwardly immoral or illegal.

They are masters of explaining to congressmen how a certain situation is unfair. They appeal to a congressmen's idealism to sometimes persuade them to do the right thing. The argument is always framed so that the desired action is the right and fair thing to do. Through certain manipulations sometimes this system is abused, but the driving force of it remains idealism and not corruption. I hope the foundation is successful because there appears to be a lot of unfairness in government's handling of MtGox up until now.

You are kidding, right? 

[TraderTimm]

Lobbyists don't do what many people assume they do.

A good lobbyist does not work in ways that are outwardly immoral or illegal.

They are masters of explaining to congressmen how a certain situation is unfair. They appeal to a congressmen's idealism to sometimes persuade them to do the right thing. The argument is always framed so that the desired action is the right and fair thing to do. Through certain manipulations sometimes this system is abused, but the driving force of it remains idealism and not corruption. I hope the foundation is successful because there appears to be a lot of unfairness in government's handling of MtGox up until now.

Sorry, but I once knew a lobbyist and asked him point-blank "What determines the client you take?" he replied "A check."

Its about cashing in and doing whatever is needed to score those paper tokens.

[Bitcopia]

Having a lobby would be a good thing, no matter how insignificant it may seem. At least we'll have one voice of reason.