EU Edges Towards Regulating Crypto Currencies


#1

The EBA has warned European banks away from bitcoin until regulations are in place: http://mobile.bloomberg.com/news/2014-07-04/eu-banks-must-shun-bitcoin-until-rules-in-place-eba-says.html


#2

See, here it comes- we will give you a tax credit for sponsorship (censorship-enclosure-secrecy-spying) or anything against the open movement. This is what captured government does. But its good that the banks are being told to stay out for now.

The private banks, the speculators, government control over currency, the patent regimes the stock markets, and every backwards extractive business, telecom, cable, Madison Ave, big private oil, extractive agro biz… all of it at risk as people start to do these things without them and do them better.

This is why hardened dirt cheap hardened little mesh boxes need to be dirt cheap and on roof tops and in cars and in open phones. If telco/cable can cut of your internet access and claim that the burden of proof is on you to show that you were not using P2P. Maybe laws will get in the way in some end users cases but I see them moving back to a ‘free’ TV broadcast type sponsor model. This is what Tmobile is doing with their free music service. At first its a free unlimited music service or it doesn’t play with the unnecessary cap- may even be ad free. Next it will be free service if you watch a bunch of ads and the regular service will get more expensive especially if the mergers go through. Soon the internet and at home will be ad driven for most people, even if the fees are gone completely. But any kind of video will be ads every 3 minutes (Google is going that way.) It will be hailed as a revolution in open access.The problem is P2P will be treated like TIVO, also we’d be messing with their reasonable network management BS. This stuff is accelerating. Google always knew to keep ads off its front page- that was probably half its success because it could appear less polluted, but now with FIFA its been ads almost everyday.

I think the alternative mindset sees that these people or a least the ideology is hurting diversity, quality and access. Its also driving up costs. We don’t see these entities as having a right to continue to interfere or keep their existing functions relative to our lives- in short they don’t really have a reason or need to exist and have shown them liability to the good life. The states on the other hand see command and control and value having a top down mass broad cast system. But as McLuhan said the message is the medium. And it seems we see now that very structure kills democratic power sharing- especially as stakes don’t need it for emergencies so much but use it ceaselessly for oppressive propaganda in the name of keeping the peace. Governments will have a lowest common denominator: prove you didn’t evade taxes approach to crypto currency for ordinary people and try to make it global while avoiding a global tax on capital.