SEC charges pirateat40 – and Nation State meets Global Protocol

Posted on July 23, 2013

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If you were around the Bitcoin scene last year, you’ll remember the build-up and crash-out of the largest Bitcoin pyramid scam yet, run by “pirateat40“.

Turns out they got him.

What’s encouraging is not just that he was caught, but that the American law seem to be treating Bitcoin and its community with a certain amount of respect, with a lot of the SEC release having fairly positive attitudes (IMHO, feel free to argue).

With Bitcoin increasingly being pushed towards legal clarification, the link between the nation state and the global protocol has never been stronger. Just as politicians start to grapple with existing protocols (badly), new forms of disruption are emerging every day. The challenge for politicians – and society more broadly – is not how to control them, but how to integrate them.

And what, if anything, does this have to do with the price bouncing back up above £60?

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Posted in: Finance, News, Power