This is an opinion editorial by Beautyon, the CEO of Azteco and a contributor at Bitcoin Magazine.
A group of bitter, twisted computer illiterates in the beleaguered European Union have managed to convince the European Council that bitcoin is money, that Bitcoin wallets are actual wallets that hold actual balances of money and that they should be regulated. This is of course totally insane and an idea borne out of profound ignorance.
Since it is not possible to have a rational argument with people like this, another, better strategy of dealing with these violent types must be formulated and implemented. They’re fixated on the idea that bitcoin is money and, from the seed of this mistaken idea, a monstrous Pandora’s Box of evil has been opened.
“Bitcoin is not money[1]. If you seek “compliance” you are asking for trouble. People who want to see the widespread and rapid adoption of Bitcoin should not seek tight regulation and the blessing.” — Beautyon
In order to avoid the unethical attacks of the dribbling geriatrics in the United States and the delusional EU socialists, Bitcoin wallet software developers must devise a strategy to stay out of the crosshairs of the very misguided apparatchiks hell-bent on damaging Bitcoin businesses.
Every law that touches Bitcoin uses deceptive language as definition and pretext. These definitions come from ambulance chasers and not computer scientists or software developers. By re-contextualizing Bitcoin wallets, it will be possible to totally escape the onslaught of destruction being planned by the EU and U.S. legislators.
This is how you do it.
Bitcoin wallet developers, quite naturally, have centered on using the conventions of money to translate what is happening under the hood into something ordinary people can understand. There is no “coin management” or UTXO information displayed to
