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General Discussion / Re: Jeb McCaleb Against the World: A Crypto Romance
« on: February 06, 2015, 05:37:25 pm »"Bitshares does the same thing: it's designed from ideology not pragmatism. That's a weakness imo."
If you read the Origin of Bitshares (https://bitsharestalk.org/index.php?topic=14019.0;topicseen) and take a look at what has been developed in the BTS domain I see nothing but ideology and pragmatism working together beautifully.........imo.
The author, who's billed as a securities attorney, makes a critical point worth repeating:
"It would be naïve to think the federal government will stand idly by when its control over currency and financial transactions is threatened."
Dan has certainly written a lot about the ideology behind bitshares. But there is little to no evidence of pragmatic thinking when it comes to the question of how bitshares will handle regulatory compliance when the time comes.
Just saying.
In today's coindesk article, Dan said, “I suspect that by the end of 2015, there’s going to be three major players, bitcoin, Ripple and us...,”
http://www.coindesk.com/bitshares-decentralized-exchange-crypto-2-0/
Bitcoin has the Bitcoin Foundation and lots of legal help dedicated to keeping bitcoin safe from the regulatory hammer.
http://dealbook.nytimes.com/2014/08/06/bitcoin-foundation-seeks-more-time-to-address-virtual-currency-rules/?_r=0
Ripple bends over backwards for regulatory compliance.
https://wiki.ripple.com/Compliance_Resources
What is bitshares regulatory strategy?
Answer: there isn't one.