Bitcoin Forum

Ban Bitcoin! Urges Congressman After Realizing It Can 'Disempower' US

It’s not often that politicians tell the truth, the whole truth and nothing but the truth. But US Congressman, Brad Sherman, yesterday introduced a bill to ban bitcoin basically because it erodes the US government’s power internationally.

https://bitcoinist.com/ban-bitcoin-us-congressman-ben-sherman/

Here's a direct link to the video if anyone wants to watch it: https://www.youtube.com/watch?v=Cnz2oo8MRas. It's just a shame none of the guys behind him lifted up a "Buy Bitcoin" sign like they did during Yellen's testimony back in 2017. ;D

So, as the famous Gandhi/Nicholas Klein quote goes, we've moved past the "ignoring" stage and the "laughing" stage (bitcoin is a scam, bitcoin is dead, bitcoin is Ponzi scheme, etc.) and are now at the "fighting" stage. Funny that something which is "a scam" is apparently a threat to the international standing of the US. Hopefully not long before the "we win" stage.

It's refreshing to see someone that high ranked actually acknowledge the power of Bitcoin and crypto in general. I usually would say that he should f... offf, but I can't even blame him for being worried. I would be too in his position.

I am however of believe that the rest of the politicians do not see Bitcoin as a threat at all, mainly because of how it isn't a currency according to them, and it might eventually become worthless because it has no utility to utilize.

Politicians are more concerned about Bitcoin's energy consumption.

This guy doesn't understand anything. He's being used by financial institutions that generously provided millions in backing in return for a voice through this balding proxy muppet.

It's not going to lead to anything with how much wealthier institutions have enough of a say and incentive to not let this clown mess up their plans to provide Bitcoin related products.

This congressman shows the attitude of US government. If we can't buy it, threaten it, take it by force, we'll try to destroy it.

He won't get the majority to support it. This idea is too controversial. What about the politicians who take donations in Bitcoin? The Trump administration is not against cryptocurrencies. Banning it would be against the ideas of capitalism that Trump and his followers worship.

lol

Best is to get rid of these stupid politicians, hope Trump will soon clean up these swamps.

Well, it would have been another epic event if someone flashed the "Buy Bitcoin" sign when that balding politician was speaking introducing the bill to nip cryptocurrency on the bud. This is telling us that as of now, powerful men and women are taking recognition of the power of Bitcoin to disrupt the usual flow of things. While he has actually a point, we have to remember that as of now Bitcoin is not yet that powerful internationally as many illegal transactions are still conducted using the fiat money. In addition, this is just another one-sided view on Bitcoin as fiat money can easily be utilized to also undermine the interest of USA abroad. People and governments working for the demise of USA all have many other alternative and creative ways to make sure they get what they want and soon USA can be swarmed and be exploited with its many weaknesses. I am hoping that it will not happen though.

Brad Sherman sure has a hard-on for Bitcoin. He's the only Congressman I can remember who's been crusading against Bitcoin for years. What a dick.

Fortunately, others like Darren Soto are pushing for much more favorable regulations (https://www.coindesk.com/us-lawmakers-file-bill-to-exempt-cryptocurrencies-from-securities-laws). I don't think this bill will go anywhere.

Ban Congressman Brad Sherman! Urges Bitcoin Users After Realizing It Can 'Empower' The World.

Much more accurate.

This is expected to happen,sooner or later.
With the sudden btc price increase,the bitcoin hater armyand the fudsters start screaming louder and seeking more media attention than before.The FUD will took over the mainstream media again for sure.
I read such news every day.China is about to ban crypto mining,USA is about to ban bitcoin,etc.
Just keep calm and wait for the price to hit the moon(after 2-3 years).

One of the first politicians to talk some actual sense about the whole thing, even if it is negative.

However as long as governments, big business and banking continue to collude with each other, and it's not as if civilians are welcome, I don't think his worries are valid.

That leaves the real world to finish up doing better than the governments with their crappy money.

Perhaps one day the prospect of turning your BTC into USD to pay taxes will make the average citizen groan at the ickiness of the thought.

Yeah, it's funny. Look at this quote of his from the article:


Say the exact same thing, but in a different tone with different mannerisms, and it could be taken straight from a speech at a cryptocurrency conference about the powerful future of bitcoin. He has inadvertently made a great argument for bitcoin. Yes, it sounds scary to the people at the top, but for everyone else it sounds amazing.

Nothing to, worry that's news he didn't not know the important of bitcoin  to help,for finacial economic growth by the way some politicians are understand bitcoin can help for us.

I would not agree that his opinion is official stance of US government, this is just one man's opinion. Also US government very well knows that bitcoin is not one man, one country, or several thousand people - so they will not even try to buy it, take it by force or destroy it. Some of them like this congressman can only bark from time to time.

Everything that brings profit is good for US, and bitcoin is becoming more popular year after year. I think the chances of banning bitcoin is US are equal to ones to ban sale of weapons.

Never gonna happen. We have to give him one though, he's trying hard.
You know how the conformists go along unnoticed, but that guy who goes against everyone, that extremist, gets seen. He said something and got quoted by the news for it, even though the idea was dumb. It doesn't matter if it's smart or dumb, publicity is publicity and I'd say that was his goal and he got to reach it. It won't change anything, but at least some people heard his name for the first time. Maybe some folks will even support him. There are many who see devil's work in libertarian values.