February 17th from NYC: Another great episode of The Bitcoin Group, had 4 guests this time and we stayed on topic pretty well. Here is the TL;DR
0:01:00 – Banks Looking to Lower Money Laundering Regulation: To me this is not a positive for Bitcoin. The more draconian the laws on money the more Bitcoin will thrive in routing value. I also reference an old article I wrote called “When Banks Become Law Enforcers”
0:10:30 – Rising Prices and Bitcoin in Asia: I question the numbers out of Japan being the highest volume these days. I also explain that people need to be careful having Chinese exchanges hold their Bitcoin because the Government can pass a law to confiscate the bitcoin of foreigners for Money Laundering reasons.
0:25:00 – Bitcoin ETF (yes again!): Main Stream Media continues to talk about the Bitcoin ETF, while I continue to explain how stupid the Bitcoin ETF is. Let’s once again go through the reasons:
1. We have never had an ETF where the underlying can be hacked and the ETF will create a bigger a bigger honey Pot taking Bitcoin out of circulation.
2. It will open the door to Shitcoin ETF’s starting with ETH & ETC, then Litecoin, Dash & so on all the way to OneCoin
3. People always ask questions “what happens if there is an ETF and then Bitcoin has a Hard Fork?” well…. NO ONE KNOWS so that is why ETF should not pass
I then go into the potential motivation of Winklevii wanting this ETF. For all the bitcoin they hold i’m disappointed in the small amount of evangelism they have done for bitcoin other than trying to centralize it.
0:49:50 – Bank of Uganda Treats Bitcoin & OneCoin as the Same Thing: From the view of the Government, I have to agree.
BONUS: At the end I talk about the price, I’m bullish to all time highs.