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Posted by4 years ago
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level 1
15 points · 4 years ago

We support our members and stand by our members.

Overwhelmingly, the majority of members seem to agree that partnering with US enforcement agencies with mixed track records of public service is an endeavor frought with great risk and little to no possible reward.

Since enforcement agencies have no say in what laws are made or how or even how they are enforced, they have no power whatsoever to reduce regulatory burdens in our industry. They also have little to no PR influence and, even in the extremely unlikely event that they were so enamored by CoinCenter that they decided to engage in PR for Bitcoin, it would be unlikely to be approved by others in the agency, and even if it did would be ineffective as these agencies themselves have terrible reputations among the general public, with DHS/TSA and ICE being likely second only to the IRS in terms of bad reputation and the FBI being known for scandal and bureaucracy.

For those several prominent individual and corporate members who do support such alliances, we stand by you as well. Sometimes the best thing a friend can do is point out when someone is making a mistake.

I pointed it out when the Lawsky fiasco began and my message was not heard widely enough. I'm telling you again: this will be a bad thing for Bitcoin, please reconsider.

As always, I'm happy to discuss in person/ by phone.

level 2
Peter Todd - Bitcoin Expert
4 points · 4 years ago


level 2
0 points · 4 years ago

Thanks Bruce! Keep doing good things. :)

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Created Sep 9, 2010