Open Letter in Wired: Regulation of Bitcoin Not the Answer

Jerry Brito has another take on the issue of regulating Bitcoin to make it safer, in an open letter to Wired. Also a good read.

Tech entrepreneurs have successfully disrupted industry after industry — from journalism to retailing to music and TV — by leveraging the internet-driven principle of permissionless innovation. It’s time for finance to be added to that list.  After all, consumers are the ones who benefit from innovation that makes financial services cheaper, faster, and more convenient. Ensuring that consumers are absolutely safe may not make them better off overall if doing so means they only have access to expensive, telegraph-era services.