Will Bitcoin survive government intervention and regulation on a global scale? Lack of global collaboration/ agreement among governments on regulation. Policy of "if other currencies have a crisis first." Money is a form of speech.
Transcript
[AUDIENCE] I work for ProtonMail. I just wanted to ask a question about Bitcoin. [ANDREAS] ProtonMail is awesome. [AUDIENCE] Thank you!
Do you believe that Bitcoin can survive government intervention and regulation on a global scale? [ANDREAS] I have never seen global collaboration between countries on regulating anything. [Laughter] If the governments of the world can't get their asses into gear to deal with global warming, literally an [existential] threat to the tiny little blue lifeboat we are hurtling through the cosmos on, do you think they will get together and agree on Bitcoin? Especially when, strategically, they are all thinking, "If Bitcoin [does well], then I am fucked!" [Laughter] "But those guys will be more fucked than me!
Maybe if we let it happen, it will cause them... to have a currency problem before it causes us to have a currency problem, and then we win!" I am not joking about that. I am pretty sure that would be the kind of calculation you would see in many countries, thinking about whether Bitcoin should be regulated. If they regulate it, so what?
What will they do, threaten people with death if they use bitcoin? They already do that in some countries. Guess what people will do? They will use bitcoin.
When the policeman comes, they will bribe the policeman in bitcoin, and up the chain it goes... until the head of state is stuffing a wallet full of bitcoin. In countries where the rule of law matters, money is a form of speech. Freedom of association and expression protect political expression through currency.
In the United States, [that was the result of] a Supreme Court decision on 'Citizens United,' which said you can't regulate campaign contributions because money is speech. In countries where the rule of law matters, if you pick that fight head-on with Bitcoin, and we will take it all the way to the Supreme Court. Do you know how many lawyers Marc Andreessen can hire? The problem is, [the government] may lose.
Losing on a decision that says 'Bitcoin is protected speech' is much worse than the grey of status quo. So that is [unlikely] to happen. In countries where Putin is the rule of law, "Ban Bitcoin!" they say. Nobody gives a damn.
"Bitcoin is evil!" Really, you say it is evil? I better look into this... Every time you say something is evil, it is usually good for me and bad for you. I don't even like you.
This is happening in Venezuela right now. "Bitcoin is the currency of terrorists, pedophiles, extremists, and criminals!" "Please don't pay attention to our 550% inflation rate!" [Laughter] "Please leave your money in the [national] currency... and go with us to the bottom, as hostages of our insane policies." And what is the very tiny percentage of technically literate people in Venezuela thinking right now? 'Hmm, I should look into this!'