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What does Ed Felten's White House appointment mean for Bitcoin?

What does Ed Felten's White House appointment mean for Bitcoin?

Ed Felton, Princeton's defacto Bitcoin evangelist, was recently appointed by Barack Obama as the country's Chief Technology Officer. Certainly the Bitcoin ...

Transcription

What's up, party people? Chris DeRose here, Community Director of the Counterparty Foundation. And in this video, I wanted to address the very interesting question of, "What does the Ed Felten Appointment mean for Bitcoin?" For anybody who hasn't seen Ed Felten, is a professor at, I forgot what university it was, I think it was Princeton or something maybe, and he was teaching amongst other things, the Bitcoin classes there at Princeton. So we see a lot of change obviously going on in Wall Street right now, and with this appointment it makes you wonder if we are going to see more change at the government level. Clearly, Bitcoin is something he cares about. Clearly, Bitcoin is something he understands. Clearly, he's going to have some level of communication with the president of the United States, and I don't know what that means necessarily.

I would imagine that at some level, the president is probably exploring the possibility of saying the "B" word as the first president to ever say the "B" word. Maybe he'll say "Digital Currency", maybe he'll say "Bitcoin," maybe he'll say "Cryptocurrency," and maybe he'll say nothing at all, I don't know. But I think that the appointment probably has something to do with the dialogues going on there, in the White House at some level. I don't know if that means that we will see something very supportive coming out of the White House, I don't know that it matters that we see something very supportive coming out of the White House. But it is interesting to know that certainly aligned with all the Wall Street interest, there is almost certainly going to be alignment in the political communities, as well on cryptocurrencies and Bitcoin. I think that in terms of what it means for Bitcoin, well, we're seeing here in 2015 a lot of legitimacy, a lot of incumbency joining the Bitcoin platforms, that the NASDAQ announcement of the incorporating Bitcoin in their settlement engine is major news, it's absolutely major news.

I remember where I was when I heard it, probably as Bitcoiners, you should too. It was the best most provocative and resounding endorsement of the platform of Bitcoin as a settlement mechanism, and it probably or certainly harkens what will come from the rest of Wall Street. And I think that here with the Ed Appointment, we'll probably start to see similar source of messages coming out of the government. So I don't know, things could get kind of weird. Are we gonna start seeing now, the Republican Party being the party perhaps not as embracing of Bitcoin technology where the Democratic party is? Is it going to be a bipartisan thing that both parties are actually endorsing at some level? Cryptocurrencies into our future? And what does that mean as Bitcoiners, now that we are entering the National debate at that level and we've seen Bitcoin go from this sort of weird Ponzi scheme that nobody understood, to the backbone of finance in Wall Street, at least on the horizon, to policy for the National Government to be discussing? It's very exciting and I think that as Bitcoiners, we should really take a step back and realize how far we've come. Certainly, I think it's also very important to realize Bitcoin is what's being discussed.

It is Bitcoin, it is not a theorem, it is not BitShares, it is typically nothing but Bitcoin. And I talk about this a lot, and you can see the hat that I'm wearing today. I talk about blockchain in the plural, but it's important to know that when I say blockchain in the plural, it probably doesn't matter that we have any blockchain other that Bitcoin. Maybe there will be a second, maybe there will be a third Bitcoin-type solution, but blockchain-type solution in the future, I doubt this coming anytime soon. But I think that Bitcoin is clearly here to stay, Bitcoin is going to become that part of the National Dialogue, and Bitcoin is a major world event, a major technology that will change the world. And I think that the White House is starting to not only know that, but make appointments in line with that idea.

So I don't know, what do you think? Maybe you think that that's going a bit too far, maybe you think it's not going far enough? Why don't you leave your comments below? Why don't you check out the other videos in my channel, and take a look at my platform and see what you think? If you like it, subscribe, and if you have other questions for me that's not addressed, you could always hit me up on Twitter @derosetech. Later, party people.