The Bitcoin Community Is an Industry Like Any Other

The Bitcoin Community Is an Industry Like Any Other

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Bitcoiners enjoy celebrating their so-called Bitcoin community. But, in the years since Bitcoin increased in price from $60 to $1,300, a lot has changed. Although still called the Bitcoin community by many today, the current state of Bitcoin resembles more closely an industry.

Often times Bitcoiners will make a joke that most Venture Capital money is going to self-proclaimed Bitcoin lawyer Marco Santori, who charges approximately $1,000 an hour for his services.That is symbolic of that fact that, indeed, the lawyers have moved into the experimental Bitcoin technology recognizing that innovation leads regulation. Thus, much of the paperwork and efforting in this  sector of fintech is much like any other technology or finance space – not a community.

When high profile Bitcoiners become wrapped up in trials, oftentimes Bitcoiners – who often paint themselves as anti-government – side with the authorities. Even when the cases in questions have implications about the legal interpretations of Bitcoin, Bitcoiners do not devote energy and resources to the issue, setting the ground for future prosecutions of bitcoiners, as in the case of

Read more ... source: TheBitcoinNews


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