Massachusetts Joins List of US States Hostile to Bitcoin

[Cordillerabit]

Lifelong Massachusetts politician, William Galvin, Secretary of the Commonwealth, turned sudden investment and currency expert this week, is issuing a seven-point warning about the perils of bitcoin. The uncharitable statement lands New England’s most populated region in the hostile category, joining a half dozen other states in anti-bitcoin mania.

Massachusetts Secretary of the Commonwealth Warns of Bitcoin “Disaster”

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William F. Galvin published an official warning from his office this week, creatively titled, Secretary Galvin Warns about Bitcoin Mania. It’s a page and a half of seven bullet points. “Secretary of the Commonwealth William F. Galvin today warned investors not to get caught up in Bitcoin speculation,” the missive begins in third-person.

Mr. Galvin, 67, has spent his professional life exclusively in the public sector, holding elected office in various forms by as early as 1975, extending to the present (42 years).

“Bitcoin is just the latest in a history of speculative bubbles that most often burst, leaving the average investors with a worthless product,” his office quotes himself. “Going back to the 1600s with tulip mania to the present Bitcoin craze, chasing the next best thing will, more often than not, end in disaster for the average investor.”

“Bitcoin has also been the target of major hacks,” another sentence begins in rather treacherous territory. Bitcoin, as honest analysts know, has never been hacked. But third-party trust operations “at the exchange and wallet levels,” have, Mr. Galvin notes almost too late in the same sentence, failing to make an important distinction.

https://news.bitcoin.com/massachusetts-joins-list-of-us-states-hostile-to-bitcoin/