Since MtGox the Regulation Rhetoric has escalated a lot. Duh, I'm stating the obvious.
What I didn't expect to see what people from the BitCoin community begging to make BitCoin into something that is absolutely no different from the Fiat money we already have.
There's a lot of people who use bitcoin on a basis of greed: they don't care about the philosophy or purpose, they don't really care about its long term success, they don't care about getting others to use bitcoin, they're not interested in ever buying or selling anything with bitcoin. They just want to make short term gain.
They're the sort of people who don't speculate on the stock market because they know they would lose their shirt or it seems too hard for them.
Bitcoin is easy for them, and the greed draws them in. Then they get burnt and immediately go crying to anyone who will listen.
To them, the idea of the government swooping in, seizing funds and returning them as much as possible is a pleasant fantasy.
I'm fixing to cash out simply on the basis that, if there's no damn difference anyway, why bother? We're talking about ushering in a new tier of professionals... Really? This debacle has made BitCoin grow up...? Seriously?
You only need to look at the increased interest in transparency, services which have no access to private keys, and decentralised exchanges to see that bitcoin really is growing up.
If you only listen to the people who were not equipped to speculate, ignored all warning signs of MtGox and then got burnt, you are clearly not going to get a good picture of things.
Cashing out because of these people seems a bit of a knee-jerk reaction, but it doesn't really matter. Someone somewhere will be glad of your cheap coins.
