Poll

Are ProtoShares more resistant to Government Intrusion than Bitcoin?  

Yes, Defnitely...
2 (12.5%)
Moderately Optimistic...
8 (50%)
How am I supposed to know?...
3 (18.8%)
Moderately Pessimistic...
2 (12.5%)
No, This is Bad...
1 (6.3%)

Total Members Voted: 16

Voting closed: November 27, 2013, 12:34:10 PM

Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: Senate Hearing on Bitcoin: Outlook for ProtoShare and Subsequent DAC's?  (Read 851 times)

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Offline fuzzy


Senate Banking Committee, backed by the largest military force in the world and a rabid bureaucratic regime who is increasingly reminded that the structure upon which they rely for power and influence is consistently eroding, meet to talk about the future of Bitcoin.  Very interesting stuff to listen to...

Please watch and add your reflections.  Let us attempt to provide dev's and community with our honest assessments of the situation and potential developments for which we may need to prepare.  The collective ideas and experiences of our community can provide vast insight into how entrepreneurs can adapt in an environment that is now openly increasing its level of awareness and the potential "threats" true innovation represents to a few central authorities behind a largely corrupt, obtuse and dying system.  An old Alpha Dog cornered is still deadly...and right now SOME people are openly drawing lines in the sand and battle plans.  We CAN have a Velvet Revolution and STILL help potential enemies learn the true potential entrepreneurs Free Space represent.  How do we turn this "battle" into a coalition of understanding?

Part 1:
http://www.c-spanvideo.org/program/316289-1

Part 2: 
http://www.c-spanvideo.org/program/316346-1

« Last Edit: November 20, 2013, 02:03:58 PM by fuznuts »
WhaleShares==DKP; BitShares is our Community! 
ShareBits and WhaleShares = Love :D

Offline fuzzy

Re: Senate Hearing on Bitcoin: Outlook for ProtoShare and Subsequent DAC's?
« Reply #1 on: November 20, 2013, 02:23:32 PM »
Bitcoin Faces Regulatory Push in Senate Banking Committee Hearing
    It was refreshing to see a Senate hearing kick off half an hour early for a change, and in a place with far more sitting room than room 538 of the Dirksen Senate Office Building. Just before 15:00 ET, while aides were still preparing that room for the two-hour session, Senator Jerry Moran posted a question on reddit:
    “I’m one of the Senators attending today’s US Senate Banking Committee hearing related to bitcoin. What would you like me to know?”
He wanted wider input on what senators would be discussing yesterday afternoon: the promises and threats of virtual currencies, and how the banking system could engage them.
    While academics, regulators, and banking industry representatives gave their views to a panel of Senators, redditors responded. The difference in opinion and tone was obvious. Most of the discussion in the hearing (other than BitPay CEO Tony Gallippi’s comments) focused on the risks around bitcoin and how to best regulate it to mitigate those risks. But like Gallippi’s a lot of the reddit feedback centred on the need to let it breathe.

Read More here: http://www.coindesk.com/bitcoin-regulated-commodity-banking-hearing-advised/

Bitcoin Could be Regulated as a Commodity, Senate Banking Hearing Advised
    "Bitcoin could be regulated as a commodity if market volatility continues, academics and financial industry players warned at a Senate hearing today.
    Speaking at a subcommittee hearing organized by the Senate Committee on Banking, Housing, and Urban Affairs, a representative from a financial industry technology round table also called for more regulation for virtual currencies."

Read More here:  http://www.coindesk.com/bitcoin-regulated-commodity-banking-hearing-advised/

Whether or Not Bitcoin Needs it, Regulators are Going to Regulate
    As the Senate’s Committee on Homeland Security and Governmental Affairs begins its hearing on virtual currencies today, one question stands out: do we need one?
    Tne commenter on bitcointalk.org said: “Waste of time. A decentralized currency doesn’t need that.”
    The whole point of bitcoin, after all, is that it was designed to usurp central control. Like the Internet itself, it routes itself around regulation. And yet, bitcoin advocates including Jeremy Allaire, founder of merchant payment services firm Circle Internet Financial, are gathered in a room in Washington, DC, to try and help regulators understand it. Why?

    “It is very short-sighted for community members to think that bitcoin can be anything but a niche tool by eschewing policy makers and government,” Allaire told CoinDesk. He should know – some $2m of the $9m that Circle raised will likely be spent on achieving regulatory compliance.
    “Whether one wants it, or thinks the currency needs it, or not, the fact is that the Senate will hold hearings, and regulators will regulate,” agreed Jerry Brito, a senior research fellow at the Mercatus Center at George Mason University and director of its Technology Policy Program, who also testifies today.
    “Bitcoin can’t be controlled very easily by governments, if at all, but the development of its infrastructure by entrepreneurs and innovators can certainly be hampered by bad law and regulation...”

Read More here:  http://www.coindesk.com/whether-bitcoin-needs-regulators-going-regulate/
« Last Edit: November 20, 2013, 06:26:34 PM by fuznuts »
WhaleShares==DKP; BitShares is our Community! 
ShareBits and WhaleShares = Love :D

Offline bytemaster

Re: Senate Hearing on Bitcoin: Outlook for ProtoShare and Subsequent DAC's?
« Reply #2 on: November 20, 2013, 07:42:19 PM »
The biggest question for us is this.... will the regulate the DEVELOPMENT of new blockchains or just the USE of new blockchains.

For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Stan

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Re: Senate Hearing on Bitcoin: Outlook for ProtoShare and Subsequent DAC's?
« Reply #3 on: November 20, 2013, 10:08:31 PM »
That's why we are sponsoring not just distributed autonomous corporations but a distributed development community.  Most of the time we just give things a nudge with a bounty.  Anything we are not allowed to do in the jurisdictions in which we operate will be autonomously picked up, implemented, and maintained by somebody in some more favorable jurisdiction. 

I believe the game is called "Whac-a-Mole".   :)   http://en.wikipedia.org/wiki/Whac-A-Mole

Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

 

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