[2014-07-03] Draper: Bitcoin auction a 'vote of confidence' by U.S. government

[erono]

http://www.contracostatimes.com/news/ci_26077820/draper-government-bitcoin-sale-vote-confidence

Draper will team with Palo Alto startup Vaurum to inject the bitcoins into exchanges in places like South America, Africa, India and parts of Asia. Since bitcoin isn't controlled by any particular government, the free-spirited investor said, it is attractive to businesses and entrepreneurs in developing economies who contend with political instability and weak currencies.

[Kprawn]

Well it has been accepted as a commodity, by most countries.

"Draper claimed the government's decision to auction the digital currency rather than destroy it was a "vote of confidence" in bitcoin"

I think it is more a case of, if we destroy this, the taxpayer, will be more pi$%^.... So let's rather sell it, and use the income, and get a better response. {More happy voters}

The thing is, the higher the rate of adoption of any currency, would "force" a government, to adopt it to. {The people voting for them, has the leverage} If they do not adapt, you simply do not vote for them again.

They are there, to represent the people, plain and simple.

[bitbouillion]

I think it is more a case of, if we destroy this, the taxpayer, will be more pi$%^.... So let's rather sell it, and use the income, and get a better response. {More happy voters}

It's not about making money to look good in front of the voter, but because a judge ordered it. If law prevented  the sale of the coins to the public, he would not have ordered it. I guess that's the case when law enforcement confiscates things like illegal drugs or counterfeit money. A judge ruled that Bitcoin doesn't fall in the category of illegal things, so it must be legal.

[zetaray]

I think the auction has a ripple effect on other governments around the world too: It may be ok to accept bitcoin since US government is fine with it.

[Kprawn]

The fact is, drugs cannot be sold for legal use. {What could they use cocain for? Medicine?} When it goes into circulation again, they have to track it again.}

Bitcoin is a accepted commodity, and it can be used legaly as a currency in many countries, so it's got value.

What judge made a ruling in USA, that bitcoins are illegal? {In what state?} It's not legal, to only accept BTC as a currency, but it can be used as a addisional method of payment.

If your statement was true, nobody could have used any other form of payment. {Say I accept a hamburger and chips as payment for doing a small task in your business, I would be breaking the law?}

[LiteCoinGuy]

"thanks to satoshi nakamora"  


when u missed the video:

http://www.followthecoin.com/tim-draper-press-conference-winning-silk-road-auction/

enjoy. draper seems to be a charismatic guy.