WIN BITCOIN
Dear Senator Manchin
cc: Secretary Lew, Chairwoman Yellen, Commissioner Curry, Acting Chairman Wetjen, Chairman Gruenberg, Chairwoman White
I understand and appreciate where you are coming from with your recent letter about Bitcoin, and I agree about the fundamental issues you address regarding the financial security of our country and the protection of hard-working Americans. As a US Marine Corps veteran of the Iraq war and a small business owner, these are values I share. Before I really understood Bitcoin, I had the same concerns that it was a get-rich-quick scheme for speculators and a currency only suited for nefarious individuals.
But then I learned about the true brilliance underneath Bitcoin – the Blockchain – and this new understanding changed my opinion. I urge you to consider the gravity of this innovation, which in my opinion is on par with the internet itself, and my hope is that instead of prohibition, you will champion an environment conducive to the incredible potential prosperity it makes possible.
Let me address your specific concerns and then I’ll share why the Blockchain itself really changed my mind.