Bitcoin’s Greatness Not Realized By Succumbing To Regulation

Last Thursday’s news that French company Paymium and their exchange division, Bitcoin-Central, partnered with a licensed and regulated Payment Services Provider (PSP) ignited a heated debate within the bitcoin community. Eventually, Bitcoin-Central tempered their overly-enthusiastic initial announcement.

“It feels like these French dudes are bringing saltpeter to a rave,” declared Daniel Stuckey, a writer at Motherboard ridiculing the company for dismissing the founding concepts of bitcoin.

Full Forbes article is here: http://www.forbes.com/sites/jonmatonis/2012/12/09/bitcoins-greatness-not-realized-by-succumbing-to-regulation/

7 comments on “Bitcoin’s Greatness Not Realized By Succumbing To Regulation
  1. Hegelian Dialectic says:

    What the FUCK did you expect?

  2. Bruce says:

    At Paymium we spent lots of time and energy talking about Bitcoin to our regulating bodies, the Banque de France, the ACP (French equivalent of the American SEC), TRACFIN (AML French supervising body) etc. We engaged all these resources with one goal in mind : get these people to know Bitcoin, advocate our beloved crypto-currency and listen to them, help them think until they finally reach the same conclusion as we did : there’s nothing wrong with people being free.

    There’s nothing wrong with people freely exchanging value, we don’t hurt anybody, we’re not forcing anyone to use Bitcoin, we simply want to see our dream and the future of money become a reality.

    After all this patient work and lobbying we’re finally happy and proud to announce that Bitcoin-Central.net becomes today the first Bitcoin exchange operating within the framework of European regulations.
    ~~~~~~~~~~~~~~~~~
    Lolz.

    Did someone mistakenly post a news article from http://www.theonion.com ?

  3. Jayme says:

    I’m a bit reluctant to post this but this idea is electricity based (not information based) and it seems to me that this is simpler and less prone to hoarding and scarcity than bitcoin or gold. Of course anything can be corrupted and the people who own power plants and the energy industries could effectively ‘hoard’ and anyone participating would be connected to the grid and vulnerable to central authority so perhaps it should be mixed with other assets with intrinsic value to ensure robustness?

    anyway – fwiw

    INTRODUCING – THE LECTRO!!
    http://whatreallyhappened.com/WRHARTICLES/LECTRO/lectro.php

  4. Cheify says:

    …anyone who wears an anonymous mask… fuck off.

  5. badsey says:

    http://motherboard.vice.com/blog/bitcoin-bankers-want-to-steal-the-show

    Bitcoin is capped at 21 million monetary units. (now at 10.545 million monetary units) https://en.bitcoin.it/wiki/Controlled_Currency_Supply
    http://bitcoincharts.com/
    Bitcoin is a 147+/- million dollar currency. (10.545M bitcoins x $14 (rate is all over the place)

    Bitcoin does not have the flexibility that phyz silver has and will have great growing pains. I would expect bitcoin to get attacked as it reaches the 1 billion $ amount or even before that. Someone could easily just buy up bitcoins and take them out of circulation -destroying the bitcoin marketplace then forcing consolidation with a “fiat” (have as many as you can) system of bitcoins. The cap on the amount of bitcoins is the issue and they are already past the half-way mark) = should be interesting to watch.

  6. Mother Earth says:

    No no nononononoonno no. you bitter pricks all misconbabulate the whole coinybitty thingy..inall mere referenceless unique yet fungible tokens of exchange..that don’t does said liason derange. But. You have to let it floatyboaty in real trade.. hm. Hard.

  7. Mother Earth says:

    May I remind y’all of the superioricity of my own devised system, tubecoin.com My version of the virtual specialist Sasha Grey style..

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