Fed Chair admits the Federal Reserver can't Ban/Regulate Bitcoin

[smoothie]

http://siliconangle.com/blog/2014/02/28/federal-reserve-admits-it-doesnt-have-the-authority-to-ban-bitcoin/

The word came straight from the horse’s mouth. Federal Reserve Chairwoman Janet Yellen was quite clear when she told the Senate that “the Federal Reserve simply does not have authority to supervise or regulate Bitcoin in any way.

TO DA MOOON!

[podyx]

[ElectricMucus]

They have every authority to regulate Bitcoin exchanges operating in the US though.

[smoothie]

They have every authority to regulate Bitcoin exchanges operating in the US though.

Totally different topic.

Bitcoin and bitcoin exchanges are not one in the same.

[cosmofly]

They have every authority to regulate Bitcoin exchanges operating in the US though.

Totally different topic.

Bitcoin and bitcoin exchanges are not one in the same.

But ends in the same result.

Unless ur counting on bitcoin becoming purely tradable between denim hipsters who use localbitcoins.

[smoothie]

They have every authority to regulate Bitcoin exchanges operating in the US though.

Totally different topic.

Bitcoin and bitcoin exchanges are not one in the same.

But ends in the same result.

Unless ur counting on bitcoin becoming purely tradable between denim hipsters who use localbitcoins.

Currently you can trade anything for bitcoin as long as there is another party wanting bitcoin. Silver and gold would be a few choices.

Not same result as bitcoin isn't restricted to only trade for fiat. Let's get that straight.

[Wilhelm]

They can always make it illegal to hodl or trade bitcoin just like crack and meth.
For now TO MARRRRRRRRRRRRZZZZZZZZZZ!!!!!!!!!!!!!!!!!

[crypto2k]

....and that didnt help the price to pump up higher. Pffttt! Whats next!?

[pungopete468]

The Federal Reserve doesn't have the authority to regulate it and the legal precedent is already established. It's a green light for Bitcoin in the USA. Two federal appeals courts have established the rule that cryptographic software source code is speech protected by the First Amendment (the Ninth Circuit Court of Appeals in the Bernstein case and the Sixth Circuit Court of Appeals in the Junger case).

[TERA]

The Fed?  Ok. What about congress?

[pungopete468]

The Fed?  Ok. What about congress?

Congress can't pass a law suppressing the First Amendment, if it did it would be unenforceable in the judicial system... There's already a precedent in Federal Appellate Court defining cryptography as a protected form of free speech.

[smoothie]

....and that didnt help the price to pump up higher. Pffttt! Whats next!?

Obviously you are inexperienced in this market. Results from news are not always immediate.

As with growth of any market it takes time to mature. But do me a favor and sell now so I can laugh at you when we are at $5000 per BTC.

Thanks