Regulation and Bitcoin (Jerry Brito)

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Federal agencies will attempt to regulate Bitcoin, according to the Mercatus Center’s Jerry Brito. Given that regulation simply cannot control the new currency, the question is whether that regulation will foster its growth or relegate it to illicit uses.

Video produced by Caleb O. Brown and Austin Bragg.

20 COMMENTS

  1. When/if Bitcoin gets the ETF License soon, bankers will search for a new coin to start ETF 2.0. Pick the right coin and you stand to make millions. I have chosen ixCoin. Do your own due diligence and good luck!

  2. If, when you make a transaction using Bitcoins, the transaction is registered and double-checked against all the other Bitcoins and saved in a registry, how is that transaction considered anonymous? Can someone knowledgeable explain this to me please?

  3. Even though the currency is not "centralized', that doesn't mean that it will remain "free". I am not sure if enough people realize that. We live in a very global society, which does mean commerce happening seamlessly across borders..but it also means nations are partnering and working together to govern globally. The bitcoin can fall under the "control" or management of a global governance (a group of nations working together to control financial systems and currencies).

  4. I agree that bitcoin is a great idea and it is currently decentralized, but we do have to be a little more sober minded. The regulations (and they are regulations not just guidance), that bitcoin exchanges and related businesses are having to deal with now is part of the process for our government to start bringing bitcoin usage under the law and yes under gov. management. Anytime you have something that appears to challenge the current monetary system, you will get resistance.

  5. With Bitcoin, we should never underestimate the gov. authority to put in mechanisms that eventually control/manage currency (centralized or non-centralized), They have that kind of influence, especially if other nations join them. We should be more sober minded, and understand that the gov and other nations may organize a way to gain some control over this currency. They are just starting this process by first working with or shutting down the wallets and exchange platforms based on regulations.

  6. I don't think we should fear the government, but the guy who you responded has a very small point. The government already can trace you, already has access to all of your info and money legally, track your purchases and can change laws. Remember what happened with FB and the government forced them to give them access to some user information. The gov. are also doing much more internet monitoring.

  7. Please give a detailed process of how "bitcoin also opens up the control of the monetary system, tracking your purchases, hacking your money away fears, and opening up government control by making it easier for them to take all of your money where that you will not (eventually) be able to keep money hidden or on person in case the IRS seizes your financial accounts (legitimately or not)." ?

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