Post
Topic
Board Bitcoin Discussion
Re: Lets get US Sen. Elizabeth Warren (D-MA) into Bitcoin
by
acoindr
on 18/07/2013, 00:18:13 UTC
I agree, but I am pretty sure the anonymity part isn't going to sit well with her.

Why not? Cash is anonymous.

It is also definitely harder to regulate, especially through her own agency. I see no good reason why she should be enthusiastic about Bitcoin given her agency wouldn't be able to regulate it on a practical level.

As I said above my instinct about her is she is in favor of the little guy, not the privileged/elite. That's what Bitcoin is about. I believe the Consumer Financial Protection Bureau is in line with that, for example, ensuring banks can't charge loan shark level interest rates on credit cards, or have obscure non-obvious penalties and fees. Such protection I'd say is a good thing because, guess why, ordinary people have no financial alternative to banks!

In other words the regulation she would champion is only necessary because the financial system is so abusive to the little guy.

Bitcoin gives people options and it's a voluntary currrency. Regulations on Bitcoin for that reason are far less necessary, if they are at all. Bitcoin is not very different than people deciding to trade gold nuggets. That's anonymous and irreversible too, and wouldn't be very easy for the CFPB to regulate, but would she say Americans shouldn't be able to trade gold? I doubt that.