[2015-02-13] CD: Former US Treasury Secretary: BTC Needs More Than Math

[LiteCoinGuy]

Former US Treasury Secretary: Bitcoin Needs More Than Math to Succeed

Former US Department of Treasury Secretary and advisor to President Barack Obama Lawrence Summers has argued that, in order for bitcoin succeed, the technology and those who support it will need to embrace regulation.

http://www.coindesk.com/former-us-treasury-secretary-bitcoin-regulation/

[aigeezer]

Summers! Woot! Surely his 15 minutes of fame are over.

His churlishness towards the Winklevii is legendary, as you may already know: http://blogs.wsj.com/digits/2011/07/21/winklevosses-to-summers-you-are-tactfully-challenged/

He wants BTC to fail sooooo badly, I infer.

[unamis76]

Massive lol. And fiat needs more than regulations, apparently...

[Bit_Happy]

"embrace regulation"?
Sadly, our Bitcoin Foundation is probably ready to give him a big hug.

[LiteCoinGuy]

Larry Summers Likes the Idea of Bitcoin

http://dealbook.nytimes.com/2015/02/12/larry-summers-likes-the-idea-of-bitcoin/?_r=0

[RodeoX]

We have all the regulation we need now. And plenty of math also.

[aigeezer]

Larry Summers Likes the Idea of Bitcoin

http://dealbook.nytimes.com/2015/02/12/larry-summers-likes-the-idea-of-bitcoin/?_r=0

In the article (not the headline) he damns BTC with faint praise and beats the regulation drum loudly:

"But Bitcoin or any other payments technology, Mr. Summers said, will need to shed the “hyperlibertarian aura,” which is hindering widespread acceptance. Regulation, he added, would certainly help."

He has an agenda. Boy, does he have an agenda.     

[bitbouillion]

Per Summer's logic math needs to be regulated too, because othewise there will be no mass adoption of it.