Average Congressman has nearly 60 years. Can those grandpas regulate bitcoin?

[bitmover]

I read a Twitter today about Google and Facebook regulations (which I couldn't find now). But this applies to cryptocurrency as well:

The average age of Members of the House at the beginning of the 115thCongress was 57.8 years; of Senators, 61.8years, among the oldest in U.S. history.

Source:
https://www.senate.gov/CRSpubs/b8f6293e-c235-40fd-b895-6474d0f8e809.pdf

People of those ages could easily be grandfathers. Do you think granpa could build the legislation for Bitcoin, Ethereum and other cryptocurrencies?


Bitcoin is already big enough and conquered it space.  And bitcoin is not in war with regulators (at least not yet), but imo regulation will have to adapt to bitcoin, and not the opposite.

[pixie85]

They obviously don't understand it but it doesn't mean that can't regulate it.

If they were smart they'd be able to admit they don't know anything about it and ask younger people to do it for them. Every congressman has a group of young advisors and researchers working for them. They don't even answer their emails it's all done for them.

[dothebeats]

I'm pretty sure they have advisers even though they are already seated as legislators and regulators. These advisers can explain to them what cryptocurrencies are in a concise manner without overwhelming these grandpas that you speak of. Also, it's not as if they're dumb or they're incapable of understanding, though I agree that they will surely be close-minded when it comes to these novel things. We will move forward even with the old-timers doing the regulations for us, that's for sure. Lobbyists would be a great help in making them understand certain things that might be too complex for them since they don't have it back in their days.

[ChiBitCTy]

That's the problem with many of the politicians here in the United States. Many political positions do not have term limits, so some politicians have been in office for decades.  Jessie White who is Illinois Secretary of State is 87 years old.  He's been in office for decades.  This allows for corruption to keep consistent as well as for people whom are too old to keep going as a politician in which many do not have the proper cognition to maintain the role at that age.  Many are biased, unwilling to learn, and corrupt.  They scoff at bitcoin because it does not follow what they are used to.  Take the court appearances of all the giant tech CEOs recently for exampled ( facebook, amazon, google, etc)

[Mahanton]

Laws and new regulations doesnt need an age for it to be neither declines or approved yet all bills will surely come into process of debates and approval/rejection but somehow
having a congressman which on that age will surely have some significant kind of attention which might really draw up some interest and same as with opposition.
The thing here is that, those grandpa's are totally aware on whats Bitcoin is all about? if they do then they can freely suggest it out but this wont really be a short process
as we all know.

[Oasisman]

I'm pretty sure they have advisers even though they are already seated as legislators and regulators. These advisers can explain to them what cryptocurrencies are in a concise manner without overwhelming these grandpas that you speak of.

I'm not sure if they have one, I only knew about presidential advisers. I guess when the legislative staff
Is imposing new laws and regulations, they'll seek professional consultation first from a specific field of expertise. Thus, eliminating the need for a personal advisers, since advisers knowledge may also be very limited.

Also, it's not as if they're dumb or they're incapable of understanding, though I agree that they will surely be close-minded when it comes to these novel things. We will move forward even with the old-timers doing the regulations for us, that's for sure. Lobbyists would be a great help in making them understand certain things that might be too complex for them since they don't have it back in their days.

Exactly!
I guess, there were no government that has not known about Bitcoin and cryptocurrency yet today.
Although some of them might be closed minded, but there are those who are open for this technology, that's the reason why they are a huge number of members in the congress to support each other's knowledge.

[Wexnident]

I actually don't mind them being old, being young, or being a grandpa,grandma teen or whatever. As long as they can view Bitcoin from an objective point of view as well as judging them WHEN they actually know stuff about it is more than enough. Well, being old at times can be synonymous to forgetting about trying out new things as well as being open minded about them, but if ALL old people were as such, I'd give up. But not really though, some of the older gens even know the advantage of Bitcoin, so why can't those in the congress do as such? Look at our own forum members, As far as I know, there are a few people out there that are ages >50.

Bitcoin is already big enough and conquered it space.  And bitcoin is not in war with regulators (at least not yet), but imo regulation will have to adapt to bitcoin, and not the opposite.

I doubt they could go against it even. Sure, for a short bit maybe they'd be able to, but the people aren't ignorant, and one way or another, someone in the congress would fight for Bitcoins adaptation. Well, if there's none, then I guess it's time for a change?

[hatshepsut93]

I'm pretty sure they have advisers even though they are already seated as legislators and regulators. These advisers can explain to them what cryptocurrencies are in a concise manner without overwhelming these grandpas that you speak of. Also, it's not as if they're dumb or they're incapable of understanding, though I agree that they will surely be close-minded when it comes to these novel things. We will move forward even with the old-timers doing the regulations for us, that's for sure. Lobbyists would be a great help in making them understand certain things that might be too complex for them since they don't have it back in their days.

Remember the Senate hearing regarding Facebook, when they summoned Mark Zuckerberg? The congressmen were so unprepared, they were asking some really basic questions about how Facebook works, so yeah, in theory they can have all the advisors they need, but on practice they might decide they don't need them or just ignore them. Or maybe they'll decide that Bitcoin is not worth their time, so they'll vote however some of the higher-ups in their party tells them.

[avikz]

I read a Twitter today about Google and Facebook regulations (which I couldn't find now). But this applies to cryptocurrency as well:

The average age of Members of the House at the beginning of the 115thCongress was 57.8 years; of Senators, 61.8years, among the oldest in U.S. history.

Source:
https://www.senate.gov/CRSpubs/b8f6293e-c235-40fd-b895-6474d0f8e809.pdf

People of those ages could easily be grandfathers. Do you think granpa could build the legislation for Bitcoin, Ethereum and other cryptocurrencies?


Bitcoin is already big enough and conquered it space.  And bitcoin is not in war with regulators (at least not yet), but imo regulation will have to adapt to bitcoin, and not the opposite.

Not every country is luck enough like New Zealand or Finland where the age of the Prime Minsters is below 40. So we all will have to deal with that. US senators and legislators are at least educated. In my country, a major percentage of the lower house parliamentary members are uneducated and are convicted criminals. US is in a lot better position where they have the intellect to understand the positive sides of blockchain and cryptocurrency.

Now when it comes to regulation, bitcoin CAN'T be controlled through a law! However, the people CAN be controlled through a law and that's what the legislators are trying to achieve throughout the world. Bitcoin won't be adapting the regulation but the people will do! That's the essence of any crypto related regulation!

[davis196]

Yeah,but the average congressman has a team of assistants and advisors and he could get advise from the experts in the crypto industry.The most important question is,will the "average congressman" ask the right crypto experts,or will he seek help from "crypto experts" like Roger Ver and Faketoshi Wright?
Just because some people are old,that doesn't mean that they are stupid.You should stop with the "age shaming" and "OK,boomer" mentality.

[DarkDays]

I think without outside influence, they would definitely struggle to properly and fairly regulate Bitcoin.

Luckily, there are several blockchain lobbying and awareness groups that have done made good progress in educating Congress about Bitcoin.

The blockchain association is one such group: https://theblockchainassociation.org/

But there's similar enterprises in most major countries, hence why Bitcoin still hasn't been banned like people have been claiming "is just a matter of time" for years.

[Twinkledoe]

They obviously don't understand it but it doesn't mean that can't regulate it.

If they were smart they'd be able to admit they don't know anything about it and ask younger people to do it for them. Every congressman has a group of young advisors and researchers working for them. They don't even answer their emails it's all done for them.

I agree, let's say they don't fully understand about bitcoin or crypto, but it doesn't mean they can't do anything about it. They have staffs, as you said advisors and researchers, that can do the job for them. So what the staff will do is explain it to this congressman how crypto works and other related things needed for them to understand the world of bitcoin/crypto. Because they may not be looking at the detailed side of things but the overall view on how crypto will influence the way of life of its constituents.

[eaLiTy]

People of those ages could easily be grandfathers. Do you think granpa could build the legislation for Bitcoin, Ethereum and other cryptocurrencies?
Bitcoin is already big enough and conquered it space.  And bitcoin is not in war with regulators (at least not yet), but imo regulation will have to adapt to bitcoin, and not the opposite.

If you look historically these grandfathers come up with the laws everyone is following and what changes are you expecting  . I accept one thing, these old politicians might no have much idea about the technology but they will hire advisors and other professional bodies to formulate a draft bill and then there are many procedures they to need to undergo before coming out as a law.

BTCitcoin is not at war with the regulators but it is a money trail and it is easy for the regulators to formulate regulation as they will have the ability to monitor every transaction and get rid of the anonymity we enjoy including banning the trading of privacy coins and mixers, so do not underestimate the power they can enforce and it is real possibility that we might see those in the coming years.

Remember the Senate hearing regarding Facebook, when they summoned Mark Zuckerberg? The congressmen were so unprepared, they were asking some really basic questions about how Facebook works

Some or majority of these hearings are a joke, when Sundar Pichai the google CEO was questioned about Apple iPhone which shows they are not prepared about the basic idea that both these products are from different companies .

[DoubleEdgeEX]

Politicians and their influencers are trying to solve digital problems with analog methods. None of those have a connection to the average Joe out there so they are unable to forsee the impact a too tight regulation of cryptos could have in case the trust levels decrease even more. You already see it in other countries and with other topics. If you ban it, people are even more eager to get it. Indias indecisiveness on Bitcoin regulation, Germany thinking about banning demonstrations at all, USA well, that would fill books....

[plvbob0070]

I think it's only one of the factors why they are not really interested in crypto or bitcoin, as well as regulating it because they are personally struggling to understand it. But we know that when these politicians tackle something in the congress, they study it beforehand, so I guess they also seek advice to those who have special knowledge about bitcoin in order to come up with the regulations. Since it will involve their people once regulations have been made, of course, they are also looking at it carefully. Although not everyone in the position is open for this technology innovation.

[Poker Player]

I think it's a matter of percentages. People in their 60s know less about bitcoin and are more reluctant to try to understand it than people in their 30s.

On the other hand, I don't have much confidence in the work their advisors can do. If the politicians' preconceived idea is that bitcoin is a scam or a ponzi scheme, it will take a lot of advisors pushing them to change their minds over a long period of time.

[thesmallgod]

The fact that they are old and do not understand does not mean they cannot champion the regulation. They have the legislative power to do it and when the right time comes, the will poise to know what it is and how to go about regulation. when there is the massive adoption of crypto, and it cut across mainstream media, they will also learn what it is irrespective of the average age. Most of the things that are being regulated today, they also learn about it and provide necessary legislative prose as part of their work

[rodskee]

I think it's only one of the factors why they are not really interested in crypto or bitcoin, as well as regulating it because they are personally struggling to understand it.

I can see this too, with that age and lots of things inside their minds, innovations
are not in their priorities, especially when
In terms of new kind of currency where confusions coming from those negative
opinions are also part of considerable factors.

But we know that when these politicians tackle something in the congress, they study it beforehand, so I guess they also seek advice to those who have special knowledge about bitcoin in order to come up with the regulations.

They are in process of seeking for deeper understanding it's part of their jobs to make
sure they are handling things accordingly.

Since it will involve their people once regulations have been made, of course, they are also looking at it carefully. Although not everyone in the position is open for this technology innovation.

The last statement is true, not all are open instead they are already being influenced
by bad media perceptions.

[slaman29]

They obviously don't understand it but it doesn't mean that can't regulate it.

If they were smart they'd be able to admit they don't know anything about it and ask younger people to do it for them. Every congressman has a group of young advisors and researchers working for them. They don't even answer their emails it's all done for them.

Sorry guys but yeah. People are not elected to make laws for their expertise in whatever industry, but they are elected because they have the capacity to act on behalf of the interests of the people they represent, and they are fair and objective in their assessments. You can't expect congressmen to know everything about every law they have to examine.

Not that I think these guys got elected properly:)

[thirdkiller]

No. I don't think they even recognize their relatives anymore. But in 10-15 years this will change. We can only wait.