A representative paper written by a lawyer, “The Path of the Blockchain Lexicon (and the Law)”, was the trigger for the tweet storm reproduced here, where a sample of some of the most egregious and appalling sections are quoted. As usual in all of the analysis done here, the ideas are what are countered, not the man who wrote them; who wrote them is irrelevant. What matters is that the ideas are wrong.
This tweet storm could have been eight times longer at least, but this representative selection should be strong enough to turn the stomach of any man. The threat this astonishingly ignorant twaddle represents should not be taken for granted, but seeing as there is no possible way to stop Bitcoin, we can relax and poke fun at the lunatics, since they are impotent.
Inside the paper itself is the explicit admission that this class of actor has no way of ingress into Bitcoin, because it is too complex, with too many equally important, impenetrable disciplines underpinning it. We can all take comfort from this; they don’t even know how to define Bitcoin, what to ask, or who to ask. Bitcoin is far better than anyone realizes.
Remember also, that this paper was written at a time when it has never been easier to learn any subject or contact the men behind any technology. There is literally no excuse for the ignorance on display from this class of actor, and interference from them in the orderly, lawful, conduct of business that has been done for decades without problems, or the very difficult creative process of software development and business model experimentation, must not be tolerated for a second.
Finally, the open admission by this class that they don’t even have the language to describe the innovation, but are still pushing for regulation on the assumption that it must be regulated, “because”, is as breathtaking as it is appalling. Extreme arrogance, disregard for the rights of others and ingrained entitlement in one package, and you cannot reason with these men, because they literally cannot speak the language!