I am halfway to believing this, but Bitcoin is respectable in a way that E-Gold never was. (To degree sufficient for plausible deniability.) https://twitter.com/homakov/status/918887940889153538 …
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I know it’s a little rich to hear me call Bitcoin respectable but the gist is that you can invest in it and not instantly lose account.
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That is not true if e.g. you tell your bank “I’d like to buy cocaine and wash it down with a donation to Al Qaeda.” You’d be done.
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This is where someone is going to say “But Chase laundered for Mexican cartels!” and I say “Yes I remember the $2 billion fine they paid.”
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No American bank is going to lose a billion dollars because they backed a VC who invested in Bitcoin businesses. Low bar respectability.
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