French senate hearing on Bitcoin
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[url=http://www.reddit.com/r/Bitcoin/comments/1v9lh9/french_senate_hearing_about_bitcoin_is_live_now/]http://www.reddit.com/r/Bitcoin/comments/1v9lh9/french_senate_hearing_about_bitcoin_is_live_now/[/url]
summarized and translated by mmitech on reddit:
"So I will try to summarize the conclusion, at least what I understood, before that I have to point out that the discussion was really productive and objective in a positive way, the senate and his board asked really good questions, and got really smart answers as well :it is not clear what they will do next or how to regulate bitcoin but they want to catch up and making it illegal is not an option.
it seems that adopting Bitcoin will be a competition between powerful countries as USA, Germany, UK and now France to follow.
they know that there is a real innovation behind bitcoin and France is already missing the train.
how Bitcoin will benefit users.the senate and his board doesn’t fully understand the decentralized and the distributed concept and he asked who owns the protocol ? and “no one” as an answer was not enough clear for him even though they tried to explain the protocol in a simple way.
the illicit use was brought up, which is something normal, but I didn’t have the feeling that they focused negatively on this.
volatility and investment risk also was brought up, but one of the board members said that it is due speculation, and said that speculation is good to a certain point…
Europe Bitcoin foundation will be born!
the general Idea I’ve got is that they know they cant keep ignoring Bitcoin, they have to jump in and adopt it, but they don’t know in which class bitcoin fits."
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I like the fact they see it as a competition between powerful countries; it has to be taken seriously. No geek-internet-heaven anymore.