Quote from: Abiky on Today at 02:28:12 AM

Quote from: legiteum on February 28, 2024, 04:47:17 PM

Gary Gensler taught a class at MIT on blockchain. He knows very well what he is talking about.

He was saying that the way most holders of cryptocurrency use it it's not decentralized--it's a brokerage account in an "oracle database" in his words. And he's absolutely right.

Well, Gary is now a government official. So that means he's forced to spread negativism of Bitcoin.

Forced? By whom? Why?

From the standpoint of the SEC, Bitcoin is just another investment instrument just like all of the others, and consumers should be protected from fraud, which helps markets function and raises the price of instruments like Bitcoin.

There's no conspiracy. The illuminati is not out to get Bitcoin. Anybody in the US can buy Bitcoin anytime they want. They have Super Bowl commercials about it. People are inventing government intervention out of thin air. Not only is there no government intervention, there's not even a valid reason why there would be intervention and tons of evidence to the contrary e.g. that the ETF was just approved by (checks notes) the same government that is supposedly secretly against Bitcoin.

Look, I get it: it's not as much fun to invest in something if it doesn't have a "catch" associated with it. Lots of people click on those ads that read, "CLICK HERE TO READ WHAT THE POWER COMPANIES DON'T WANT YOU TO SEE". I guess those things work, right?

But the fact is that every bit of earthly evidence points to the fact that in the US and most of the world, Bitcoin is legal and nobody is interested in making it illegal, and in fact access to Bitcoin is actually expanding.

If that diminishes the thrill for people who think otherwise, well, I guess that's what engineers like me do. Sorry.