Washington Proves that it Knows Next To Nothing about Bitcoin

Baron

Baron

ET Founder
Senator Tom Carper did his best to understand the proceedings—but even admitted toward the end that though he understood the words, he didn’t grasp “all the sentences.”

“Who is Satoshi Nakamoto?” he asked. A few in the audience snickered. Satoshi Nakamoto is the pseudonym for the creator—or creators—of Bitcoin. The truth is that no one really knows who, exactly, the architects of Bitcoin are—they’ve chosen to remain anonymous and will likely stay that way.

Even if it was meant as a joke, the question seemed to reinforce the fact that Carper, who is very likely a nice and smart man, is at best uninformed and at worst ill-equipped to navigate the regulation of Bitcoin.

The Senate hearing was likely the first of many discussions of how best to regulate Bitcoin, involving a whole alphabet suit of bureaucratic Washington agencies. But if the hearing underscored anything, it was Washington’s proclivity towards knee-jerk reactions towards technology they, sometimes admittedly, don’t understand.

http://www.vocativ.com/11-2013/fear-loathing-bitcoin-senate/
 
Quote from Baron:

Senator Tom Carper did his best to understand the proceedings—but even admitted toward the end that though he understood the words, he didn’t grasp “all the sentences.”

“Who is Satoshi Nakamoto?” he asked. A few in the audience snickered. Satoshi Nakamoto is the pseudonym for the creator—or creators—of Bitcoin. The truth is that no one really knows who, exactly, the architects of Bitcoin are—they’ve chosen to remain anonymous and will likely stay that way.

Even if it was meant as a joke, the question seemed to reinforce the fact that Carper, who is very likely a nice and smart man, is at best uninformed and at worst ill-equipped to navigate the regulation of Bitcoin.

The Senate hearing was likely the first of many discussions of how best to regulate Bitcoin, involving a whole alphabet suit of bureaucratic Washington agencies. But if the hearing underscored anything, it was Washington’s proclivity towards knee-jerk reactions towards technology they, sometimes admittedly, don’t understand.

http://www.vocativ.com/11-2013/fear-loathing-bitcoin-senate/
More...

I can't recall which Congressman, but The Bernank was doing the testimony to Congress and some fool inferred he worked for Goldman, and then mentioned JPM as well (IIRC). It was hilarious to witness Bernanke informing them that he's only worked in academia prior to the Fed.
 
I've been trading BTC off and on for the past year and half. I had about 400 at the peak, but nowhere near that now, mainly because I'd like to see a pullback before diving back in with size.
 
Quote from Baron:

I've been trading BTC off and on for the past year and half. I had about 400 at the peak, but nowhere near that now, mainly because I'd like to see a pullback before diving back in with size.
More...

Which exchange(s) do you trade on, and why?
 
Mt. Gox and btcQuick. When I first started, I used Mt. Gox because it was the only option really. But then getting money to them started taking longer and longer to the point where it takes 10+ days nowadays.

btcQuick became useful because I could fund it quickly and get into positions pretty much instantly.

If anybody has any positive experiences with other exchanges, let me know!
 
You must log in or register to reply here.
Back
Top