Stefan Molyneux has been a long-time proponent of Bitcoin and has spoken in front of thousands, singing its virtues to the masses. He has spoken at length with Bitcoin wizard Andreas Antonopoulos on his YouTube channel, and there is plenty of proof that great minds think alike. Now recently, he has posted a video showing the potential future downside of Bitcoin, as it slowly, but surely reaches its ‘disruptive’ potential.
Stefan Molyneux: Bitcoin’s biggest foe is U. S. regulators
Now that Bitcoin has, for the umpteenth time, risen again against the US Dollar after a market correction, the financial elite and establishment’s regulatory community is starting to worry about Bitcoin. It seems to be a digital remix of the movie ‘Rocky’, where it gets knocked down, but will continue to rise, until it has reached its goal of a psychological parity, if not outright victory. Yesterday alone, Bitcoin’s value rose over 20%, at one point crossing $450 US Dollars, before settling in the $430 range.
With many mega-corporations already in the Bitcoin fold, including ESPN, Paypal, Bloomberg LP, Yahoo Finance, Dell and Dish Network, it is highly unlikely an outright ban in the U. S. is in its future. There are also legal precedents like the Citizens United decision, essentially equating the use of money to an expression of free speech. At least in theory, the U. S. does still respect the freedom of speech, in written law, if not in practice. The encroaching sunlight of financial freedom that Bitcoin represents to many of the non-financial elite worldwide is troubling to the status quo, of which there are much powerful special interests invested in protecting. Sunlight to a vampire, if you will. So the swift annihilation of Bitcoin, a la Russia or Bangladesh, is not coming anytime soon. What to do?

This post was published at Crypto Coins News on November 14, 2014.

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