Regulation No Longer A Legitimate Solution

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A change is happening worldwide. The true age of digital currency is emerging, and the voices behind this new technology are speaking loud and clear about what this means for our future. And the conversation doesn't stop with digital currency. We are learning that platforms such as Bitcoin, a cornerstone of the digital currency world, support a protocol that includes such tools as public accounting ledger, a means to conduct peer-to-peer transactions absent of heavy regulation and fee structure, and a time-stamp service for real estate and personal property transactions, copyrights, trade names, patents, just to name a few. Virtually every aspect of business could utilize Bitcoin's framework to streamline the many needs of our world's diverse economies. And if you think I speak in broad terms, I can assure you that given what we are learning about Bitcoin's protocol, broad terms are more than fair. With an infrastructure as vast and global as Bitcoin, the sky is the limit.

 Of course, it is difficult for the powers that be to resist attempts to regulate Bitcoin, with such a worldwide interest emerging for Bitcoin's innovative potentials. After all, usually if governing bodies can figure out a way to impose regulations, they stand a chance to further control and tax. The concept of regulating Bitcoin presents an insurmountable problem for those who want to make the rules, however: regulations are meaningless unless enforceable.

 A different frame of mind is set to emerge at this pivotal point. Instead of falling back on regulations, and thus having to solve the problem of enforcing them, governments and agencies that ideally should exist as a means to protect and preserve the private property rights and civil liberties of its citizens will accept the rights of its populace to interact with Bitcoin's protocol as a private property that merits protection. The old adage 'if you can't beat 'em, join 'em' seems a fitting way to describe centralized authorities embracing Bitcoin in the near future.

 The tired argument that Bitcoin is just a way of laundering money and buying contraband by 'bad bitcoin actors' is becoming irrelevant in light of the vast potential of Bitcoin as a legitimate platform for a free and prospering economy. We risk crushing important innovations if our only solution is to continue making rules aimed at 'bad apples', or as an attempt to control the populace at large. One size does not fit all, and our new objective is to provide the dreamers, the doers, the pioneers of our rapidly changing world the breathing room to propel us forward.

 The world we live in is thickly based on small groups of players holding a superior position to the rest of the population. Throughout recorded history, centralized authorities (i.e., governments, banks, etc.) have always maintained a dominant position to any other social and/or economic construct available to us. However, a system that far surpasses the abilities of these traditional centralized authorities to adequately provide for their citizens is now possible through modern technology. This new system answers many, if not all, of the problems that the old systems could never completely alleviate. Centralized authorities now have only one realistic option: to evolve. They must begin to re-organize themselves in a new market economy, one that embraces Bitcoin's protocol. Otherwise the Bitcoin economy will grow, and the archaic super-power constructs will be left behind, having been rendered obsolete by their own inability to adapt.  ◊

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