An Open Letter To Our Politicians on Bitcoin

An Open Letter To Our Politicians on Bitcoin

Bitcoin regulation

The following guest post is courtesy of Paul Puey, CEO and Co-Founder at Bitcoin Edge Security Platform for Digital Assets Company Airbitz.

Last night, we stayed up all night preparing to send out 585 letters (see text below). 50 Governors, 100 Senators, and 435 Congressmen. In our letters, we warn these elected officials of the dangers of stifling innovation and call on them to do what’s right and allow Bitcoin to have the time to properly develop without unnecessary and damaging regulations.

Bitcoin cannot be stopped. States passing these types of regulations will learn that. All regulation will do is push jobs, technology, and innovation to other countries hungry for a chance to grow.

We need to defend Bitcoin and encourage all of those in the community to begin contacting their local representatives and doing their part to ensure Bitcoin’s potential is fully understood!

Elected Officials Everywhere,

In the 1800s, the United Kingdom passed a series of laws that became known as the Red Flag Acts. These acts were aimed at a new invention that was beginning to disrupt the rail car and horse and buggy industry. This invention was called the automobile and its purpose was to leverage technology to be more efficient. Unfortunately, due to the Red Flag Acts laws, it had the opposite effect.

The Acts included corrosive regulations, like requiring a man to walk in front of the automobile as it entered town waving a red flag to notify the citizens of the pending “danger on wheels” headed their way. They also severely limited the speed these automobiles could travel, which was

Originally appeared at: