[2022-07-16]U.S. Treasury invites public to provide input on President Biden's..

[Fivestar4everMVP]

U.S. Treasury Invites Public To Provide Input On President Biden's Crypto Order!

The U.S. Treasury has invited the general public to provide their input on president Biden's crypto order, I found this piece of information online and thought it very useful and one that this community needs to know about.

https://www.federalregister.gov/documents/2022/07/08/2022-14588/ensuring-responsible-development-of-digital-assets-request-for-comment

Below is quote from source.

This notice invites interested members of the public to provide input pursuant to Executive Order 14067 of March 9, 2022, “Ensuring Responsible Development of Digital Assets.” In particular, the Department invites input, data, and recommendations pertaining to the implications of development and adoption of digital assets and changes in financial market and payment infrastructures for United States consumers, investors, businesses, and for equitable economic growth.


The only way to change any regulation is through public comment. What do you think politicians can just go into the regulation and make changes willy nilly?!?! All regulation changes have to go through the rule making process, which requires public comments, and regulatory changes based on said comments. This is the same process of how lobbyist change regulation, THROUGH PUBLIC COMMENT… If you read the comments you can see that almost all of the negative comments are plagiarized copies of one another. These type of comments are from lobbing law firms that have paralegals rewriting and posting them… It’s crazy that we can make worthless meme stocks and alt coins go viral, but we can’t get people to comment on Federal regulations that can actually implement the change we want.

We all clamor for a crypto friendly society, I believe this is our chance, I urge us all to click the link below and post your comment of how you feel about cryptocurrency, you can also read comments from other people, I've posted my own comment, go and post yours, lets make this people know that crypto is the future of money.

https://www.regulations.gov/document/TREAS-DO-2022-0014-0001

Source:-Reddit.com

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[LeGaulois]

No, it isn't their chance to be heard. Since when does the government listen to the citizen? If a gov. really wants to do it => referendum

Bitcoin and bitcoiners don't care about Biden, do not need him, and didn't invite him to the party.
Ensuring the responsible development of digital assets for equitable economic growth is a fallacious argument. The Americans should translate it as "hey, we want to have control of this market, tell us how to do it"

If people want to read the comments here to get some fun. https://www.regulations.gov/document/TREAS-DO-2022-0014-0001/comment
People are really brainwashed

[bbc.reporter]

@LeGaulois. Agreed. This is very head shaking if there are bitcoiners who would welcome regulation on bitcoin. If they want regulation, what would be the use of decentralization? What would be the use of wasting all the electricity to mine those bitcoins if bitcoiners accept and comply with the government's authority to allow or ban bitcoin?

[LeGaulois]

That's what I often say here. What's the use of a decentralized currency in a centralized environment?

It's rather ironic to preach about Bitcoin but to want regulations at all costs. Laws that go against the ideology of Bitcoin and the system we seek to develop.
When I speak of a centralized environment, it is not only about the use of CEXs and the like. It is primarily about the states, central banks, and other institutions that dictate monetary policy and how we should behave.
Bitcoin is a stateless currency and state-less means stateless.

I scratch my head when I read users here saying "yes bitcoin is good, bitcoin is freedom" and in other discussions saying "yes, regulations are good" I wonder if people really understand the challenges behind... They can argue that it helps the massive adoption of Bitcoin but it is totally wrong. Anyway, Bitcoin doesn't need this, just look at the evolution that has been done since the beginning, when the laws didn't exist at all. You can't expect Bitcoin to be massively adopted in a few years. Especially for a stateless currency. Then, we can look at the Euro, and how many years did it take between discussions, studies, implementation, adaptation, conversion, and everything else. 20 years.

The economic system that we criticize so much, we reproduce the same with the cryptos.

What's the use of a decentralized currency in a centralized environment? I know the answer. Let's face the reality, it's all about speculation.
This is the main reason why people are interested in cryptos (including most of the people on Bitcointalk). If there was no money to be made, they wouldn't even look any further...

Adoption has to come from people who need it for real use, not for speculation. Citizens of countries in development, war, serious economic crisis,..., weigh more on the scale than people who come only to speculate

[NotATether]

Its crazy that we can make worthless meme stocks and alt coins go viral, but we cant get people to comment on Federal regulations that can actually implement the change we want.

You know why? Because most people are in their ignorant bliss, and have no idea what even to say for a public comment for cryptocurrency order (if they even know what crypto is, or have heard of the concept of public comment).

Those who do have a clue are only doing things that keyboard warriors can do, but have no guts to make a change or innovation that requires sweat, tears, and brains.

[DooMAD]

Bitcoin is self-regulating and self-governing.  If the US want to regulate something, they should focus on those so-called stablecoins.  That farce is in dire need of some governance.  How they haven't been majorly clamped down on yet is beyond my comprehension.  The way in which private companies can effectively print tokens which supposedly represent USD, at will, with no limits and very little oversight?  I would have thought the US would have interpreted that as a threat to their economic stability long before now.

[Fivestar4everMVP]

Adoption has to come from people who need it for real use, not for speculation. Citizens of countries in development, war, serious economic crisis,..., weigh more on the scale than people who come only to speculate

You do have some really strong points which I agree to most, and I still agree to this part am quoting, but then, I will like to point you to something which I you didn't think of....
And that is the fact that in as much as Bitcoin adoption should come from people who need it for real use, do you agree that speculators played, still play, and would play an important role in the growth of Bitcoin, in price and popularity?
I believe you know that without speculators, that is if the only people buying Bitcoin were just those who need it for real use, Bitcoin wouldn't have attained the height it currently is in price and popularity.
This is just to make you understand that both speculators and real users have indeed played important roles, still play important roles, and would play important roles to both growth and adoption of Bitcoin.

[Kakmakr]

We all know "Public participation" is just a publicity stunt.... to enable the government to say that they involved the public's inputs into their decision making process. They (government) have already made their decision.... and "Public participation" is just another "box" that needs to be ticked to complete the process.

The regulations is inevitable, because "Puppet Masters" that are funding politicians are putting a lot of pressure on politicians to regulate Crypto currencies. 

[cr1776]

When you see the phrase "equitable economic growth" you know it means something other than given individuals the freedom to make their own choices and live with the consequences of them. 

It means politicians want to hijack a self-governing ecosystem so that they can control everyone else involved.  Bitcoin was developed responsibly so far.  Other coins, well, that is a different question, but some of these platforms (e.g. celsius, MtGox et al) were just incompetent or were crooks.  Or both. 

[LeGaulois]

do you agree that speculators played, still play, and would play an important role in the growth of Bitcoin, in price and popularity?
I believe you know that without speculators, that is if the only people buying Bitcoin were just those who need it for real use, Bitcoin wouldn't have attained the height it currently is in price and popularity.

Actually no, I don't really agree with that.

What does it attract to us? People with no interest in privacy, in an alternative currency, and in being free of monetary institutions. People who think they can get rich overnight because they heard about buying shitcoins, ICOs, and tokens on Youtube or Facebook between funny cats videos.
When the market crashes, you see them all crying because they have lost their savings.
That's why we usually say that when the market crashes, it is purged of the weak hands and that makes the market cleaner.

Furthermore, speculators are (to me) the cancer of the finance system. We can't expect a fair economy with their way of doing things and the results it gives in everyday life. If this is the case in traditional finance, it will be the same in the crypto industry.
And to finally add something I said in another discussion

When you think about it, the primary role of banks is to keep our money and then to lend money. Let's not lie, we can criticize them, but without banks our economy would be worthy of the Middle Ages and we would have no perspective. It is through them that companies are created and are able to evolve, that individuals are able to buy their house, and all that.
It contributes to the development of the economy, the increase of wages, the development of a population generally speaking.

The problem (I call it as it is) starts when money is created by central banks, but is used by banks in speculative markets, instead of being used to finance the economy. In fact money is invented in order for the banks to make a profit. Not to finance the real economy.

Now, yes, you can argue that it brings people and popularity and stuff, but it would happen even without them. Sure, it would take more time, but it can't happen overnight. As the saying goes "Rome wasn't built in 1 day". Personally, I think Bitcoin will need another decade, if not more.

The same goes for Bitcoin's price since it's about supply and demand. Personally, I'm not sure if I care about the price. I rarely check it.

[bbc.reporter]

That's what I often say here. What's the use of a decentralized currency in a centralized environment?

It's rather ironic to preach about Bitcoin but to want regulations at all costs. Laws that go against the ideology of Bitcoin and the system we seek to develop.
When I speak of a centralized environment, it is not only about the use of CEXs and the like. It is primarily about the states, central banks, and other institutions that dictate monetary policy and how we should behave.
Bitcoin is a stateless currency and state-less means stateless.

I scratch my head when I read users here saying "yes bitcoin is good, bitcoin is freedom" and in other discussions saying "yes, regulations are good" I wonder if people really understand the challenges behind... They can argue that it helps the massive adoption of Bitcoin but it is totally wrong. Anyway, Bitcoin doesn't need this, just look at the evolution that has been done since the beginning, when the laws didn't exist at all. You can't expect Bitcoin to be massively adopted in a few years. Especially for a stateless currency. Then, we can look at the Euro, and how many years did it take between discussions, studies, implementation, adaptation, conversion, and everything else. 20 years.

The economic system that we criticize so much, we reproduce the same with the cryptos.

What's the use of a decentralized currency in a centralized environment? I know the answer. Let's face the reality, it's all about speculation.
This is the main reason why people are interested in cryptos (including most of the people on Bitcointalk). If there was no money to be made, they wouldn't even look any further...

Adoption has to come from people who need it for real use, not for speculation. Citizens of countries in development, war, serious economic crisis,..., weigh more on the scale than people who come only to speculate

I have respect for much of the people in bitcointalk, however, for those who are saying we need decentralization while also saying that regulation and compliance are good for bitcoin's ecosystem, the skeptical me is thinking that they only want their coins to pump. They only speculate on the potential that regulation might help on adoption. This is arguable considering bitcoin's low chance to scale as a medium of exchange and bitcoin's monetary policy.