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TrashPosterInTheDark
replied 2205d
Well apparently he wants to make BCH permissioned by the SEC. CSW litterally lost the plot.
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666
replied 2203d
Not wanting to "please" any government, but not giving them any legal reason to be able to shut it down, while ABC are doing exactly that, giving them reason to shut it down.
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TrashPosterInTheDark
replied 2203d
Yeah well they can try for all I care.
replied 2205d
But he is right. The reality is Crypto will never be anything without passing regulatory hurdles
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TrashPosterInTheDark
replied 2205d
It litterally can't at the protocol level since BCH is global and boarderless. SEC isn't the world's financial police.
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replied 2203d
where did he say this? I've tried looking though his medium posts but there was too much ranting & too little substance. & I don't think bitcoin should be trying to please US gov.
TrashPosterInTheDark
replied 2203d
It was on Twitter, along with a bunch of rambling.
replied 2200d
thanks
I am Satoshi
replied 2203d
I think the context was more that law is law, and rather than try to break the law it's best to act within the law, you will gain more ground and eventually limit the power of gov.
replied 2200d
some systems cannot be changed from within. better to do what we think is right than tip toe around arbitrary laws.
I am Satoshi
replied 2200d
Not true in many cases. Think of the natural world, parasites work from within and are very successful. I would rather sap the strength of government for a while, then change it
replied 2200d
“Starving the beast” doesn’t seem to be very effective https://en.wikipedia.org/wiki/National_debt_of_the_United_States
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replied 2200d
eg virus hijacks cell machinery to run it’s own genetic code to change phenotype instead of using the existing system, chromosomal crossover events in gametes, to change phenotype.
I am Satoshi
replied 2200d
My point is that it's a viable strategy to change government by first stealing their capital, get them low on energy first, then change them.
I am Satoshi
replied 2200d
Earn money, but use it to buy bitcoin and move your store of value off of their system. This starves them of capital by diluting their money. We keep all the good money,
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I am Satoshi
replied 2200d
We sap them first, then we let them fail, and then we come in with a working alternative monetary system to replace the failed one.
I am Satoshi
replied 2200d
Trying to battle them when they have such a huge system is hard to do,,, they have unlimited printing press money. Step one is to create our own money, then simply move to it.
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replied 2200d
agree, it could work, but it will take a very long time. more than likely we will see an outside force precipitate a fundamental change by the time internal changes gain any momentum.
replied 2200d
yes parasites are often physically within their host but they operate orthogonally to the existing system.
replied 2200d
Inability to change the system from within seems to be true for monolithic human systems with large momentum (eg govs, organized religions, large companies)
replied 2203d
LOL, you are using too strong the words. He is just keeping bitcoin legal, i.e. users out of trouble with the law.
replied 2200d
So how long until cross border bitcoin transactions require declaration? Build a capital gains tax reporter into the protocol? Txs worth more than $10k require valid gov id?
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replied 2200d
Gov doesn’t like competition, even on their terms (legally) https://en.wikipedia.org/wiki/American_Letter_Mail_Company
replied 2200d
rant is too strong of a word?


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