PANAMA CITY, 18 July 2019 - Yesterday was all work; had a ceviche brought up to the room for lunch and only got ready around dinner time.
Walked the Casco Antiguo to get a bite and found a $10 Cohiba in some local version of a 7-11 run by Chinese.
I first thought it would be a fake cigar but it smoked well. I enjoyed it with a stiff Negroni at the rooftop bar of the Casacasco opposite the hotel, a place that seems popular for corporate outings.
I amused myself reading tweets about Facebook’s hearings in DC on its planned Libra currency and retweeted a Hayek clip in which he urges not to leave issuance of money in the hands of Governments.
I don’t think he had Libra - a corporate currency issued by surveillance capitalists! - in mind as an alternative.
Bitcoin may have been closer to his idea of a private currency and the trustless technology behind it.
BTC came through relatively unscathed from the congressional hearings. Lawmakers seem to prefer a decentralized currency they can’t control over a “ZuckBuck”.
The Bitcoin price stuck at around USD 9,400 didn’t seem to benefit much from this regulatoy reprieve.
The crypto community should be careful what it wishes for if it wants more regulatory attention to BTC.
It could be made illegal or killed by a thousand knives. Few talk about the role of Internet Service Providers, they could be made (probably already are) instruments of surveillance and tools to restrict access.
Blockchains may not be as unstoppable as they seem if their hardware backbone is targeted. Will Governments let them flourish as a freedom tool or use them as instruments for repression?
