Dany on Nostr: I've never heard a regulator so lost and clueless about how Bitcoin actually works. ...

I've never heard a regulator so lost and clueless about how Bitcoin actually works. And she's supposed to be the government's expert in the field!

quoting
nevent1q…l5yx

At a small Princeton event last week, among other panels and speeches, Carole House spoke about censoring bitcoin.

She is the former director of cybersecurity for the White House National Security Council, and prior to that was at FinCEN focusing on cryptocurrencies, and prior to that was in the military.

Some of her main points:

-Energy-related regulation may push some hash rate outside of the U.S., whereas she would rather see more of it in the U.S. so that they can force miners to censor the network on the base layer. She also views international cooperation as a necessary component for successful censorship. She also wants stakers to be forced to censor their PoS networks.

-It's not just about telling miners not to mine certain transactions, but to not even build atop blocks that have non-compliant transactions, so that those transactions don't get anywhere in the chain. A 51% attack, in other words. Her main concern is censoring states like North Korea from being able to participate in the network.

The event was interesting because there were several very different perspectives. On one hand there was Roya Mahboob talking about using bitcoin in Afghanistan, followed by Troy Cross, Craig Warmke, and Natalie Smolenski talking about the importance of bitcoin from an ethical perspective. On the other hand, there were panels about Bored Apes and speeches about how to censor the networks.