2013-10-14 Technology Review - "Leading Economist Predicts a Bitcoin Backlash"

[assortmentofsorts]

http://www.technologyreview.com/news/520296/leading-economist-predicts-a-bitcoin-backlash/

Johnson, who served as chief economist for the International Monetary Fund in 2007 and 2008, said he thinks supporters of the “crypto-currency” could head off opponents by persuading politicians and legislators that it represents an opportunity for international innovation. “They shouldn’t sit back and wait for other people to define them in terms of Silk Road or anything else,” he said in an interview after the conference. “They should be proactive and explain why this would be a great industry for the U.S. to develop, and why they should have appropriate regulation around that.”

[marcus_of_augustus]

http://www.technologyreview.com/news/520296/leading-economist-predicts-a-bitcoin-backlash/

Johnson, who served as chief economist for the International Monetary Fund in 2007 and 2008, said he thinks supporters of the “crypto-currency” could head off opponents by persuading politicians and legislators that it represents an opportunity for international innovation. “They shouldn’t sit back and wait for other people to define them in terms of Silk Road or anything else,” he said in an interview after the conference. “They should be proactive and explain why this would be a great industry for the U.S. to develop, and why they should have appropriate regulation around that.”

Here's the tip, Bitcoin political strategy in one word ... meh.

It doesn't need one, it is like having a "political strategy" to deal with the invention of the calculus of variations. They can ignore it at their expense, or fight it and risk their demise.

[Erdogan]

Appropriate regulation - Raising a few false white flags is a good strategy for now.

[LiteCoinGuy]

“They should be proactive and explain why this would be a great industry for the U.S. to develop, and why they should have appropriate regulation around that.”


this already happens.

[kjlimo]

“They should be proactive and explain why this would be a great industry for the U.S. to develop, and why they should have appropriate regulation around that.”


this already happens.

agreed, welcome to the conversations of the past three years...

[RodeoX]

http://www.technologyreview.com/news/520296/leading-economist-predicts-a-bitcoin-backlash/

Johnson, who served as chief economist for the International Monetary Fund in 2007 and 2008, said he thinks supporters of the “crypto-currency” could head off opponents by persuading politicians and legislators that it represents an opportunity for international innovation. “They shouldn’t sit back and wait for other people to define them in terms of Silk Road or anything else,” he said in an interview after the conference. “They should be proactive and explain why this would be a great industry for the U.S. to develop, and why they should have appropriate regulation around that.”

Perhaps he is not aware that this is already happening at the bitcoin foundation.

[knight22]

“They should be proactive and explain why this would be a great industry for the U.S. to develop, and why they should have appropriate regulation around that.”


this already happens.

This is true in the US with the foundation but not elsewhere... I wonder if any organization, let say, in china engaged a dialog with the government and regulators. I don't think it's the case everywhere in the world.

[RodeoX]

“They should be proactive and explain why this would be a great industry for the U.S. to develop, and why they should have appropriate regulation around that.”


this already happens.

This is true in the US with the foundation but not elsewhere... I wonder if any organization, let say, in china engaged a dialog with the government and regulators. I don't think it's the case everywhere in the world.

That's a good point. Right now the Foundation tends to be America-centric or at least Western-centeric. However there are people working on foundation chapters in India, Asia, Europe, Africa, etc. Their efforts might be quite different as this develops. There are varying degrees of governmental resistance and differing issues worldwide. 

[TraderTimm]

The best part is he still thinks nation-states will be relevant when a decentralized currency kicks all the others to the curb.

Your house is on fire, Mr. Economist, do you engage it in an active dialog - perhaps by burning a favorite piece of clothing, to show you can compromise and work together? No, you either get the hell out or try to put out the fire.

Oh wait - its no longer a fire, but a spewing volcano a mile high. Oops, decentralized network and all that.

[Carlton Banks]

The best part is he still thinks nation-states will be relevant when a decentralized currency kicks all the others to the curb.

Your house is on fire, Mr. Economist, do you engage it in an active dialog - perhaps by burning a favorite piece of clothing, to show you can compromise and work together? No, you either get the hell out or try to put out the fire.

Oh wait - its no longer a fire, but a spewing volcano a mile high. Oops, decentralized network and all that.

Hearty, hearty lols. And his idealogical house literally is on fire, or, at least the flames of the debt burden are gently licking at it.

[World]

Videos
http://vimeo.com/76801543
http://www2.technologyreview.com/emtech/13/video/day2/

[LiteCoinGuy]

“They should be proactive and explain why this would be a great industry for the U.S. to develop, and why they should have appropriate regulation around that.”


this already happens.

This is true in the US with the foundation but not elsewhere... I wonder if any organization, let say, in china engaged a dialog with the government and regulators. I don't think it's the case everywhere in the world.

yeh, of course not everywhere but that should be a goal.

there is progress in germany and the UK:

http://www.coindesk.com/uk-policy-makers-discuss-bitcoin-regulation-at-10-downing-street/

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thanks for the vids. must watch:

http://vimeo.com/76801543

[kjlimo]

“They should be proactive and explain why this would be a great industry for the U.S. to develop, and why they should have appropriate regulation around that.”


this already happens.

This is true in the US with the foundation but not elsewhere... I wonder if any organization, let say, in china engaged a dialog with the government and regulators. I don't think it's the case everywhere in the world.

yeh, of course not everywhere but that should be a goal.

there is progress in germany and the UK:

http://www.coindesk.com/uk-policy-makers-discuss-bitcoin-regulation-at-10-downing-street/

-------------

thanks for the vids. must watch:

http://vimeo.com/76801543

Agreed, great video!