Bitcoin companies are banding together to form a coalition to sign onto angry letters written to regulators like FINCen and the EIA. VC group Ten31 is heading up what they are calling the "Bitcoin Typing Coalition" or BTC for short. The goal of the group is to generate twitter engagement by writing angry letters to regulatory agencies telling them that their proposed Orwellian policies are not productive, despite those regulatory agencies having zero interest in their opinions. Whistleblowers within the agency are reported to have used Chat GPT to summarize the angry letters instead of actually reading them, causing BTC to decide to have each letter written by type writer and mailed to the regulators, instead of solely commenting publicly on their websites.
The group believes that by writing angry letters, the regulatory agencies will actually care what they say, and the companies will continue to be able to operate in peace. The Bugle talked with Ten31 cofounder, Grant Gilliam to get his thoughts on the situation. "All these unelected bureaucrats need to be educated on how they will be destroying innovation in the United States. The best way to educate them is to send them letters written on type writers so they can't just summarize what we wrote using Chat GPT. We put our hearts and souls into these angry letters, and demand that interns at the agencies read the entirety of what we write. The typewriter is mightier than the AR15," he said.
Dennis Porter has criticized the coalition saying, "Regulatory clarity is good for the industry and seeing groups like FINCen and EIA target Bitcoin with regulations is not a bad thing. If anything it is a sign of mass adoption." Porter is a strong advocate for treating regulators and politicians with respect, and has no idea how to operate a vintage type writer. Other individuals have also cheered on regulators providing regulatory clarity to the Bitcoin industry.
The showdown between Bitcoin companies and the US Federal government is only heating up. The Biden administration is rumored to be deeply concerned about the potential for the price of Bitcoin to go up during the presidential election season, suggesting to the American people that there is a possible solution outside of the political process. "There is nothing more dangerous than people deciding they don't want to vote anymore because they don't believe what the news is telling them to do," Joe Biden said in a press conference discussing the issue.
Marty Bent has a different strategy which is non compliance and foul language. He believes that foul language and disrespect is the quickest way to get politicians to back off. This strategy is flawed as it does not include the use of type writers.