Federal Reserve Chairman Bernanke: I love bitcoin

[jgarzik]

OK, he did not quite say that, exactly...  <chuckle>

URL: http://www.bloomberg.com/news/2013-11-18/u-s-agencies-to-say-bitcoins-offer-legitimate-benefits.html

Ben Bernanke, chairman of the Federal Reserve, is also weighing in on the hearing, saying that it has no plans to regulate the currency.
“Although the Federal Reserve generally monitors developments in virtual currencies and other payments system innovations, it does not necessarily have authority to directly supervise or regulate these innovations or the entities that provide them to the market,” Bernanke wrote in a letter to the committee.

Looking forward to attending the DC hearings in person tomorrow!

Anyone else going to be there?

[thefiniteidea]

Ben is Satoshi! 

[Mike Christ]

Ben is Satoshi! 

Figures he'd be in the last place you'd look.

[Paleus]

I was surprised with Mr. Bernanke's remarks.

Can't wait for bitcoin to bring an end to his cartel.

[sdp]

I am baffled.  That should push the coin to $800.  I was hoping for something more negative so I could buy more.

[crazy_rabbit]

OK, he did not quite say that, exactly...  <chuckle>

URL: http://www.bloomberg.com/news/2013-11-18/u-s-agencies-to-say-bitcoins-offer-legitimate-benefits.html

Ben Bernanke, chairman of the Federal Reserve, is also weighing in on the hearing, saying that it has no plans to regulate the currency.
“Although the Federal Reserve generally monitors developments in virtual currencies and other payments system innovations, it does not necessarily have authority to directly supervise or regulate these innovations or the entities that provide them to the market,” Bernanke wrote in a letter to the committee.

Looking forward to attending the DC hearings in person tomorrow!

Anyone else going to be there?

Jeff that is super exciting. Is it possible to record it? Put it online?

BTW: I've got to say it's awfully tempting to think that Ben Bernanke's comments might mean the government might be looking to GIVE him the authority to supervise or regulate. :-)

Not that I really mind so much (a little, just a little).

[niothor]

OK, he did not quite say that, exactly...  <chuckle>

URL: http://www.bloomberg.com/news/2013-11-18/u-s-agencies-to-say-bitcoins-offer-legitimate-benefits.html

Ben Bernanke, chairman of the Federal Reserve, is also weighing in on the hearing, saying that it has no plans to regulate the currency.
“Although the Federal Reserve generally monitors developments in virtual currencies and other payments system innovations, it does not necessarily have authority to directly supervise or regulate these innovations or the entities that provide them to the market,” Bernanke wrote in a letter to the committee.

Looking forward to attending the DC hearings in person tomorrow!

Anyone else going to be there?

oh really , not quite ...

[corebob]

I'm not all that surprised really.
There has been other indications of this attitude before.

The primary focus of the US government is after all to provide for private capital in any way possible.
And the capitalists them self should be fine with the "Every man is a tax heaven" property of bitcoin.


I refuse to believe that the Chinese government will not go for full control though

[Skinnkavaj]

Wow, this is amazing 

[corebob]

I cant stop wondering if Bernanke is simply flattered by the fact that the blockchain contains a ascii portrait of himself

[crazy_rabbit]

I'm not all that surprised really.
There has been other indications of this attitude before.

The primary focus of the US government is after all to provide for private capital in any way possible.
And the capitalists them self should be fine with the "Every man is a tax heaven" property of bitcoin.


I refuse to believe that the Chinese government will not go for full control though

Who says they didn't create it?

[corebob]

I'm not all that surprised really.
There has been other indications of this attitude before.

The primary focus of the US government is after all to provide for private capital in any way possible.
And the capitalists them self should be fine with the "Every man is a tax heaven" property of bitcoin.


I refuse to believe that the Chinese government will not go for full control though

Who says they didn't create it?

It has crossed my mind 

[al.matic]

I cant stop wondering if Bernanke is simply flattered by the fact that the blockchain contains a ascii portrait of himself

No, he is not flattered by it; he put it there because he IS Satoshi 

[corebob]

Seriously though, I can't remember where I read about it but I seem to remember reading about NSA saying to congress that they were not looking to crack down on bitcoin and that they should stop going after it. Something along those lines.

That of course leads me back to what I have always wondered,
is the Koblitz curves left out of the list of NSA approved cryptography because they have found a way to break it, or is it because they haven't found a way to break it?

[rhyso]

Of course the Fed do not have the authority to regulate crypto. They are a private company, not a government department. they follow the legislation that was written to allow them to exist even though central banks are unconstitutional by nature.

This is not to say that the government will not regulate.

Many people do not realise the federal reserve is a private company, I would have thought most here would realise that.

[xorxor]

Ben is Satoshi! 

I laughed so hard, it actualy hurt me a little and I was dizzy.

[corebob]

Of course the Fed do not have the authority to regulate crypto. They are a private company, not a government department. they follow the legislation that was written to allow them to exist even though central banks are unconstitutional by nature.

This is not to say that the government will not regulate.

Many people do not realise the federal reserve is a private company, I would have thought most here would realise that.

Yea this is really hard to understand for pretty much the rest of the world

[indianplayers]

LOL basically he said Fed is doing nothing to virtual currencies. Just like they can't do anything to other countries currencies other than USD.

Move along nothing to see here......

[btbrae]

Forgive me for not jumping aboard the Ben-cheering bandwagon but I read this as:

The federal reserve doesn't have enough powers to supervise and regulate Bitcoin, so I would like the Senate to legislate in order that we can.

[BitcoinBarrel]

Not having enough authority never stopped them before...