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#239 – Niall Ferguson: History of Money, Power, War, and Truth
Lex Fridman Podcast
Bitcoin
I doubt the IRS will accept Bitcoin as tax payments within a decade. The next question becomes, does Gary Gensler define everything as a security? And do we then have to go through endless regulatory contortions to satisfy the SEC? There's a whole bunch of uncertainties that the administrative state excels at creating because that's just how the administrative state works. But for people who are trying to run exchanges or innovate in the space, these regulations will be annoying. So it'll be a much tougher fight than the fights we've seen of other aspects of the tech revolution - incumbents are there and they see the threat.
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