Report on the Bitcoin Foundation's Trip to Washington D.C.

[balanghai]

Well this could be a start and also US is way behind germany. They are late also in receiving additional revenue. 

[1715187812]

1715187812

[1715187812]

1715187812

[1715187812]

1715187812

[1715187812]

1715187812

[1715187812]

1715187812

[1715187812]

1715187812

[xcsler]

Did the Foundation convey to the agencies of Bitcoin's existential threat to fiat currencies?
Do they understand what the implications to governments would be if a significant portion of all commerce was done using bitcoins as opposed to the USD?

[Phinnaeus Gage]

I didn't even read post #2, going straight to The Bitcoin Foundation site and finally signing up and becoming a member. Doling out ~$25 USD is the least I could do for their efforts yesterday and probably today.

Yes, I've read concerns about the org., but put that aside, though still not sure what to believe, I felt it important to support them now.

Now, I only owe Josh $175.00 USD.  

EDIT: I just refreshed the page on their site, and was asked if I wanted to UPGRADE my account. To what? A Monarch? 

[Digigami]

Try accomplishing that without a The Bitcoin Foundation.

+1(+) for The Bitcoin Foundation.

I guess it's time for me to become a member and support them.

Agree big time.. I've had mixed feelings about The Bitcoin Foundation from the start, but this event has warmed me to the idea considerably. The first public interactions between government agencies and TBF has clearly proven they will be considered the first voice taken seriously from this community and it sounds as though they did well with the informational meet and greet.. Lets hope that now when the people in the meeting think of the Bitcoin ecosystem they can better see the creativity and innovation we have to offer, rather the image of silk road junkies, scammers and cheats.

I know we don't all feel the same, but I always knew for Bitcoin to move forward we have to play ball, and we have to convince these guys to play ball too. The first steps are underway and I'm happy TBF is leading the way.


That all asside, MSantori a follow up to the question of who hosted the meeting.. Was it FinCEN who contacted TBF and invited you guys to their planned shindig? Or did TBF initiate dialogue with FinCEN which resulted in the meeting?

I can only guess that it may have come as a result of TBF inquiring for clarification on FinCEN's published guidance. I think it would be interesting if FinCEN had instead reached out to TBF though, I would take that as the government intending on making some decisions sooner rather then later and also giving TBF legitimacy as the community's representation if FinCEN chose to pick up the phone and call them first.

[Ego]

Thanks for the update, it will be very interesting to see how things progress over the next few months.. years even

[HeliKopterBen]

I would consider joining TBF if the meeting with regulators was recorded.  Just like bitcoin, I need proof of what happened.  Maybe you guys can lobby for recording future meetings on video.  There is no reason for the government to be private about this.  After all, we the taxpayer pay their salaries.

[abbyd]

What regulatory and enforcement methodologies did you endorse?

+1

In the spirit of open dialogue, could you please make available any documents from the presentations?

[charleshoskinson]

I guess it's time for me to become a member and support them.

Phinnaeus Gage, I'd love to have you on the foundation's education committee. Much has changed since Matonis took over and it's for the better. Send me a PM.

[solex]

Did the Foundation convey to the agencies of Bitcoin's existential threat to fiat currencies?
Do they understand what the implications to governments would be if a significant portion of all commerce was done using bitcoins as opposed to the USD?

It is disinformation that governments would suffer in a Bitcoin economy.

Governments will still raise tax revenue but the emphasis would move from income tax to asset and sales taxes. They would have to live within their means, but this will actually benefit them in the long run. Governments that live perpetually beyond their means eventually undergo systemic failure. There are countless examples. In Western countries it is a bloated welfare/entitlement state and participation in non-defense wars of choice which wreck government finances. Without printable fiat the electorate would fully understand that governments could only offer welfare which is affordable and participate in wars which are truly matters of defense.

[NewLiberty]

Did the Foundation convey to the agencies of Bitcoin's existential threat to fiat currencies?
Do they understand what the implications to governments would be if a significant portion of all commerce was done using bitcoins as opposed to the USD?

It is disinformation that governments would suffer in a Bitcoin economy.

Governments will still raise tax revenue but the emphasis would move from income tax to asset and sales taxes. They would have to live within their means, but this will actually benefit them in the long run. Governments that live perpetually beyond their means eventually undergo systemic failure. There are countless examples. In Western countries it is a bloated welfare/entitlement state and participation in non-defense wars of choice which wreck government finances. Without printable fiat the electorate would fully understand that governments could only offer welfare which is affordable and participate in wars which are truly matters of defense.

Government transparency, responsibility and simpler accounting could be among the early benefits.  Once they get it, they may like it for the right reasons even if they don't like it for the ways it isn't broken.

[Polvos]

We, the bitcoin users,  don't need the bitcoin foundation to represent us. We have no faces. If any user, US government included, has any problem using Bitcoin, we can help him in the bitcointalk forum. But nearly all the questions a government could have about Bitcoin are very well explained in satoshi's paper and the source code. The only words the foundation had to say in that meeting: read the paper and the code as all of we did, it's all explained there.

[Nagle]

In attendance were high-level representatives from FinCEN, IRS, FDIC, Federal Reserve, OCC, FBI, DEA, Secret Service, Department of Homeland Security and more.

What about the SEC? They're the regulatory agency for brokers and exchanges.

If Bitcoin were a commodity or currency you could trade on major exchanges, we could get rid of all those clowns trying to run Bitcoin exchanges.

[minimalB]

Thanks for the update, i expect a lot of new stuff coming out because of this meeting.

[Rampion]

We could use some additional transparency. What were the "tough questions" and the "tough answers"?

[Phinnaeus Gage]

We could use some additional transparency. What were the "tough questions" and the "tough answers"?

Them: Okay, which one of you guys is Satoshi Nakamoto?

Representing Us: As I said to one of your colleagues in the hall, Satoshi Nakamoto is clearly one of you guys. That said, here's a list of demands to keep our mouths shut.

Patrick Murck: <covers mike> I think you played that card too early.

Representing Us: Who said we were playing cards?

[NewLiberty]

In attendance were high-level representatives from FinCEN, IRS, FDIC, Federal Reserve, OCC, FBI, DEA, Secret Service, Department of Homeland Security and more.

What about the SEC? They're the regulatory agency for brokers and exchanges.

If Bitcoin were a commodity or currency you could trade on major exchanges, we could get rid of all those clowns trying to run Bitcoin exchanges.

Bitcoin is both, but calling it by those names isn't going to get it listed on Forex.  That usually takes some major banks with an interest in trading in it.

[leemar]

To me joining the foundation was a no brainer in terms of support for  the ecosystem, but I suppose it  depends on whether you have an ideological axe to grind.

[Cablez]

We could use some additional transparency. What were the "tough questions" and the "tough answers"?

Agreed, some more info for the community would be best.  Can you guys provide your slide decks for viewing?  This does involve everyone, Bitcoin Foundation member or not.

[bradford]

Thanks for the update on the DC trip - glad that the important work is being done, congratulations to Marco and company. Proud to be a Foundation member.

[tgerring]

toughest questions and response? if you are allowed to disclose

Why wouldn't he be allowed to disclose a meeting with public officials?

BUWAHAHAHAHAHAHA!

You must be new to US government--where everything happens behind closed doors. "Democracy" we are not.