Pro-Bitcoin CFTC Commissioner Bart Chilton Dies Too Young at 58
Chilton was an ICO founder
Chilton said in his later years that he wanted to invest in Bitcoin faster. In 2017, he supported an ICO who attached his tokens to the value of oil.
Recently, he wrote:
The cryptoanarkist would say that the existing systems are on the way out. They will perish. My opinion, it's nutty talk. I am in the camp to work in existing systems to make meaningful progress. The old saying, if you are not part of the solution, is part of the problem, keep in mind.
Chilton was known for his criticism of high-frequency trading bots, which he believed created a dangerous marketplace for everyone. Immediately after leaving the Commodities and Futures Trading Commission, Chilton joined the Modern Markets Initiative, a high-frequency trading association.
Sad news for all of us @CFTC https://t.co/PdCHIHBf4t
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Like Bitcoin His problems were less with high-frequency trading than with the under-regulated nature of trades. He felt he could have a positive influence in the industry and said of his decision:
"People are going to say," wait a minute, you used to beat [stuff] out of the guys, "and I did it , but I never said they should go away. "
He felt that companies that had joined the Modern Markets Initiative were benevolent and promised their influence to help them operate in ways he thought would lead to a healthier economy.
The move was not unlike the support of OilCoin, which was due to launch in January 2018, but never did. The Token will act as a digital future for the oil – the value is directly linked to the price of a barrel of oil, and real reserves will be maintained to drive back.
Earlier CFTC commissioner field regulation would be good for crypto
Earlier, Chilton had continually encouraged greater regulation of cryptographic curves. He believed that the law would stimulate a safe and significant boom in cryptographic curves. His vision is shared by many in the cryptocurrency industry, who have long felt that lack of regulation leads to long-term existential problems as well as consumer risks.
The continued spread of unregulated markets and gray markets is one of the main reasons why the SEC has not yet approved a Bitcoin listed fund. Regulators will be certain that the volume value is reliable, but this is difficult to do when up to 95% of all Bitcoin volume is false.
At the same time, continued security risk in encryption exchange has led to a loss of billions of dollars a year. Well-designed and well-executed regulation can reduce this, as evidenced by Japanese regulators who recently embark on two exchanges to investigate their security policies. If regulators have the technical expertise to ensure that exchanges are handled properly, the ability to steal from exchange can be limited in the long run.
All these were the principles of Bart Hamilton's view of the need for regulation. He kept an eye on the market and continued to write about the subject of his last days. Only last month did he publish a piece about "Blockchain Dreamers."
Blockchain Dreamers and the Features of Bamboo & # 39; https://t.co/0Be8yFNpZj Bart may not have physical b
– Bart Chilton (@BartChilton) March 11, 2019
