Lecture 7 — Community, Politics, and Regulation



Seventh lecture of the Bitcoin and cryptocurrency technologies online course. Course website: https://piazza.com/princeton/spring2015/btctech/home

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In this lecture:
* Consensus in Bitcoin
* Bitcoin Core Software
* Stakeholders : Who’s in Charge?
* Roots of Bitcoin
* Governments Notice Bitcoin
* Anti Money-Laundering Regulation
* New York’s BitLicense Proposal


  1. For the genuine anarchists out there the lesson here is simple: don't mix fiat money with cryptocurrency. An emancipated global economy is one that creates value which cannot be controlled by systems of domination. Growing up isn't about abandoning all forms of law and order. It's about dismantling and transcending corrupt power structures.

    Scarcity, or digital gold, is not and never will be the source of real value. The source of real value grows organically from the logic of abundance and human freedom itself. That my friends is the only legitimate basis for a rational economic-legal system. That is the only type of solution that has a future. Such a solution is no friend of the state. 

    Fiat iustitia, et pereat mundus

  2. I think you are remarkably overconfident about the beneficial effects of asymmetric regulation, especially on the captive population of NY (except as a fairly meaningless signpost for consumers who can't be bothered to do their own research and don't mind paying a fat premium).
    Decentralised consumers are now creating their own 'wisdom of the crowds' measures for assessing intangible services and third-party regulation is increasingly outdated.
    A car is a good, it can be examined which is why caveat emptor applies. All bitcoins are equal in quality(so far). Your lemon analogy applies to businesses, not bitcoin. Good series. Would have been interesting to see how much evidence the State could have produced if they hadn't seized Ulbricht's laptop in a decrypted state!