NAUT - NautiluscoinHedge fund manager/dev Brian Kelly Wants to make cryptocurrency "safe for Wall Street," aka controlled by the exceedingly wealthy and just another tool to subjugate the poor.
Read his article about how bitcoin needs to "grow up" and accept its inevitable rapery by beaurocrats and bankers:
http://www.cnbc.com/id/101849169The problem with new regulation is three-fold:
1. Since public opinion no longer has any effect on the setting of public policy and lobbyists have 100% of the effect, any new legislation with regards to regulating cryptocurrency will be written 100% on behalf of the financial services industry.
2. There is already judicial precedent and laws in place to allow criminal proceedings in cases of theft, money laundering, robbery, extortion and even terrorism as they pertain to cryptocurrency.
3. The existing regulation, system of taxes and fees, mazes of do-nothing bearocracies that demand a cut of every one of your transactions, is what helped necessitate cryptocurrency to begin with. If the U.S. government wasn't so ineffective at regulation and Wall Street didn't have a reputation as being the biggest pot of evil on the planet, people wouldn't _need_ bitcoin!
So the fact that Kelly wants to build a cryptocurrency with Wall Street ties and pro-bitcoin regulation as its main thrust (also check out its "Digishield" component: it guards the coin against the forces of the free market lol) is mindbendingly ironic to me.
My fear is that he's simply acting as a trojan horse to get the community acclimated to the idea of a Wall Street takeover, which some might see as a good thing, but what it will actually mean is that the novel advantages of cryptocurrency offers to society will be erased.