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Feral Oats's avatar

I know I'm eight years late to Andreesson's coments, but I am completely baffled by his claim that a car and garage could automatically negotiate payment using bitcoin but not credit cards. Why? Amazon got its infamous "One Click" patent in 1999. Surely it was obvious in 2014--fifteen years later!--that this claim makes no sense on its face?

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Mike S.'s avatar

Great article, but I disagree that bitcoin and other cryptocurrencies are "securities" under existing law. If anything, they are closer to futures, but still not a perfect fit. I think this ambiguity is what slowed the SEC and CFTC from regulating cryptocurrencies proper (ICOs are a different story, and have been properly deemed "securities" under existing law). Its really up to Congress to pass a law regulating crypto, and in turn empowering the CFTC and/or SEC to regulate them.

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