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Re: [BitcoinDC] Congressional Candidate Vows to Vote on Blockchain

From: Philip M.
Sent on: Wednesday, February 7, 2018, 10:23 AM
What did you think about his mention of FSOC? From their front page, FSOC: "is charged with identifying risks to the financial stability of the United States; promoting market discipline; and responding to emerging risks to the stability of the United States' financial system." It sounds to me like FSOC will be against any element of crypto that is disruptive to the current order of treasury-fed-global banks-smaller banks-businesses-consumers. But to the extent that crypto isn't disruptive, they'll like those parts. Who likes crypto for its non-disruptive features?

SEC and CFTC seemed not to take a draconian stance, but singled out ICOs as targets because they've deemed them to be securities.

My hypothesis: the next steps in regulation will be agency-level determinations (not legislation, to the 20 to 1 deregulation point) that crypto assets aren't legally valid payments unless they're backed by big banks, to steer regulated markets toward cryptos that can be regulated. Then, support big banks' entries into speculative crypto trading.

If I were the SEC, I would finally allow that Bitcoin ETF, allowing big banks and hedge funds to jump in with huge, leveraged positions. If I ever felt it was getting too frothy, I would pop the bubble by increasing margin requirements.

Thanks for the friendly and challenging responses. Have a great day, everyone!

-Phil

On Wed, Feb 7, 2018 at 9:57 AM, Emmanuel Arri <[address removed]> wrote:

Thank you, Gerard, for sharing this.

Step by step, the technology and its potential will become clear to more and more people (depolluted from the “noise”), and we need influencers to guide early adopters/leaders to pave the way.

Perfect example here. Very encouraging.

 

From: <[address removed]> on behalf of Zach <[address removed]>
Reply-To: <[address removed]>
Date: Wednesday, February 7, 2018 at 9:49 AM
To: <[address removed]>
Subject: Re: [BitcoinDC] Congressional Candidate Vows to Vote on Blockchain

 

I actually interpreted that bit as him saying "we need more coordination... so we don't screw this up." If I recall correctly, around that statement he also included an example of contradictory/conflicting actions on cryptocurrecy made by different parts of the government. He seems to understand the technology and the ideas behind it. His statements were very positive, overall.

 

On Wed, Feb 7, 2018 at 9:35 AM, Philip Mitchell <[address removed]> wrote:

Henry, if you watch from 1:30 to 1:34, Sen. Warner's point seems to be 'crypto is a systemic threat to our financial system, so we need a more coordinated effort to regulate and control crypto.' That doesn't seem supportive.

 

On Wed, Feb 7, 2018 at 7:21 AM, Henry Castellon <[address removed]> wrote:

My senator Mark Warner siad yesterday the Crypto/Blockchain is a 20 trillon dollar market and that Crypto is the future.  Great leaders like him will pave the way for a better future. 

 

On Tue, Feb 6, 2018 at 8:47 PM, Gerard Dache <[address removed]> wrote:

DC Blockchain Enthusiasts,

For those of you who are interested in the intersection of blockchain and politics, I thought you would like to know about this.  There is a congressional candidate for the US House of Representatives  who has committed to using blockchain technology for establishing transparency between the voters in his district and his own voting record in congress.

If you are interested in this learning more, let me know and I will see if we can get him to come out for an event.  Just go to the LinkedIn post and like it or leave a comment.  If we get enough support, I'll ask him to come out.  Here is the link:

https://www.linkedin.com/feed/update/urn:li:activity:6365439936417529856

Also, please feel free to share this post with anyone who you think would benefit from knowing about this.

Have a great evening and stay warm!

Gerard Dache, President, Government Blockchain Association

PS, We are not formally endorsing any candidate at this time.  I just thought that this information would be of interest to many of you in this community.





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