I have been hearing a lot of positive news from Australia, which is related to Bitcoin recently. Will be extremely happy if the Reserve Bank of Australia takes steps to regulate Bitcoin.
Excuse me if I'm being ignorant, but isn't Bitcoin supposed to evade government and banking regulations anyway? Wasn't that Satoshi's original vision, as stated in several quotes from him? Why seek approval from the banksters and their lackeys, when Satoshi himself apparently saw them as enemies -- and supposedly designed Bitcoin as a way to undermine their incredibly unfair and inefficient system?
Here's a famous Satoshi quote:
"Yes, [we will not find a solution to political problems in cryptography,] but we can win a major battle in the arms race and gain a new territory of freedom for several years. Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own."
It seems to me that Satoshi's vision, as stated by him/her/them, was for BTC to effectively undermine the current monetary/banking system. But I'm a newbie, so I could be totally wrong.
However: I do, of course, understand that government regulations will affect price negatively and greatly hurt widespread adoption in the short term.
I'm also aware that The Bitcoin Foundation is supposedly reaching out a hand towards the US government. I'm not sure what to feel about that. Like I said: Perhaps I'm just ignorant.
