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Author Topic: Why many USA senator against bitcoin?  (Read 350 times)
Hamphser
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February 18, 2022, 10:47:35 PM
 #41

We have seen there are miscellaneous reactions about bitcoin among US senators. On one side Colorado Governor Jared Schutz Polis announced that "his state will begin accepting Bitcoin for tax payments starting this summer" on the other hand Senators Jim Risch, Bill Cassidy, and Bob Mendez look aggressive against any step towards bitcoin implementations.

Some said using bitcoin as payments instead of US dollars will demolish the sanction power of the USA towards other countries. Do they fear bitcoin for losing control over the world economy or do they know the adoption of bitcoin will diminish the unchallenged sovereignty of USD?
There are many reasons for this, but in fact one of the most simple is their age, in most countries there is a minimum age needed to become a Senator, which means that most of them are old, and as we know there is a generational breach that sometimes is impossible to overcome.

So while for a young person something like bitcoin is something they can easily accept, as their lives are more and more digital, this is not as easy for those of the previous generations, and as such they have problems accepting a form of money that is impossible to touch with their hands.
So lets narrow it.

1. Age
2. Things they do prefer which is on those old and not to this new era where everything is almost dealing with online or digital
3. Emotion
4. Sticking on what government do allow
5. Being not open minded
6. Doesnt accept changes or have that principle on what he should believed.

etc.

As part of governing body on a particular country then you would stick out on centralized things no matter what.

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darewaller
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February 19, 2022, 06:08:22 AM
 #42

We have seen there are miscellaneous reactions about bitcoin among US senators. On one side Colorado Governor Jared Schutz Polis announced that "his state will begin accepting Bitcoin for tax payments starting this summer" on the other hand Senators Jim Risch, Bill Cassidy, and Bob Mendez look aggressive against any step towards bitcoin implementations.

Some said using bitcoin as payments instead of US dollars will demolish the sanction power of the USA towards other countries. Do they fear bitcoin for losing control over the world economy or do they know the adoption of bitcoin will diminish the unchallenged sovereignty of USD?
Old man prefer old methods so expect that this new technology on financing system will not be good to them since they cannot relate on it and maybe they always look at its downside. Maybe in next batch of US senator if they elect new generation one maybe we can see a open minded people dealing up with new economic changes. For now for sure we can see majority of them prefer fiat over anything else in the world.
That sounds harsh when you call them old he he but I think its not about how old with them because there are also older people that like btc and there are also young people that does not like btc. Since, there are people that does not like to use a btc. Why are they worrying too much and thinks btc will take over dollar? Also I do not think that its a bad thing for bitcoin to be taxed but is not it supposed to be good? Because, that only means that they legalize btc as a currency if they will taxed it.

USA dollar is so powerful because this is the primary currency to measure btc. USA adopting btc wont affect their influence over the other countries because I think its not only about the currency but its the overall performance of a country.
sabaru1212
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February 19, 2022, 08:23:35 AM
 #43

I see in the US or Australia a lot of crypto exchanges are operating, so the transfer fee is very small. At my place, to send any amount of BTC, the transfer fee must be more than $20 Sad because there are too few officially operated exchanges here.
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February 19, 2022, 09:22:56 PM
 #44

We have seen there are miscellaneous reactions about bitcoin among US senators. On one side Colorado Governor Jared Schutz Polis announced that "his state will begin accepting Bitcoin for tax payments starting this summer" on the other hand Senators Jim Risch, Bill Cassidy, and Bob Mendez look aggressive against any step towards bitcoin implementations.

Some said using bitcoin as payments instead of US dollars will demolish the sanction power of the USA towards other countries. Do they fear bitcoin for losing control over the world economy or do they know the adoption of bitcoin will diminish the unchallenged sovereignty of USD?
Old man prefer old methods so expect that this new technology on financing system will not be good to them since they cannot relate on it and maybe they always look at its downside. Maybe in next batch of US senator if they elect new generation one maybe we can see a open minded people dealing up with new economic changes. For now for sure we can see majority of them prefer fiat over anything else in the world.
That sounds harsh when you call them old he he but I think its not about how old with them because there are also older people that like btc and there are also young people that does not like btc. Since, there are people that does not like to use a btc. Why are they worrying too much and thinks btc will take over dollar? Also I do not think that its a bad thing for bitcoin to be taxed but is not it supposed to be good? Because, that only means that they legalize btc as a currency if they will taxed it.

USA dollar is so powerful because this is the primary currency to measure btc. USA adopting btc wont affect their influence over the other countries because I think its not only about the currency but its the overall performance of a country.

it is not about being old, i guess, it is more on their knowledge about BTC. the more they know about BTC, the more open they will be in the cryptocurrency market. a lot of course will stick to their fiat. but what we are asking is to be more acceptance about BTC market. maybe sooner or later, they will realised that having a logical approach towards crypto like straightforward laws about its taxation will be better rather than ignoring its continued presence. because even without their intervention, crypto market is growing and i don't think anyone can totally stop its movement.

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laredo7mm (OP)
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February 20, 2022, 03:09:36 AM
 #45

it is not about being old, i guess, it is more on their knowledge about BTC. the more they know about BTC, the more open they will be in the cryptocurrency market. a lot of course will stick to their fiat. but what we are asking is to be more acceptance about BTC market. maybe sooner or later, they will realised that having a logical approach towards crypto like straightforward laws about its taxation will be better rather than ignoring its continued presence. because even without their intervention, crypto market is growing and i don't think anyone can totally stop its movement.

Most of the bitcoin hater's excuse about bitcoin is about its instability and market manipulation. They think this market is controlled by a few elites and legalizing it without any proper regulatory framework will create a risky environment for their citizens. I can not deny that fact but what disappoints me is their little approach towards crypto. Millions of people are already invested in crypto so spending some time on shaping a legal framework will help those investors a lot.
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February 20, 2022, 09:12:03 AM
 #46

That sounds harsh when you call them old he he but I think its not about how old with them because there are also older people that like btc and there are also young people that does not like btc. Since, there are people that does not like to use a btc. Why are they worrying too much and thinks btc will take over dollar? Also I do not think that its a bad thing for bitcoin to be taxed but is not it supposed to be good? Because, that only means that they legalize btc as a currency if they will taxed it.

USA dollar is so powerful because this is the primary currency to measure btc. USA adopting btc wont affect their influence over the other countries because I think its not only about the currency but its the overall performance of a country.
The taxing of it is definitely not something that you should be worried about because it means it is legalized but the regulations are not stopping with the taxes neither. Look at New York and look at Texas, the differences there are staggering.

While in New York it would be nearly impossible to get a license to start a business and you would have to basically give up so much, whereas in Texas you could start one for 250 bucks and basically a promise to not do anything illegal. That type of difference what makes these types of senators go against bitcoin and this is what makes regulations matter the most for crypto people as well.

Yes, we would love a regulation but what type of it? If it is New York kind then it would be horrible, if it is the Texas kind then it would be wonderful. It is not always "they made it legal and that is a good thing" if the legal part comes with so much problems.

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wxa7115
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February 24, 2022, 09:14:08 PM
 #47

There are many reasons for this, but in fact one of the most simple is their age, in most countries there is a minimum age needed to become a Senator, which means that most of them are old, and as we know there is a generational breach that sometimes is impossible to overcome.

So while for a young person something like bitcoin is something they can easily accept, as their lives are more and more digital, this is not as easy for those of the previous generations, and as such they have problems accepting a form of money that is impossible to touch with their hands.
So lets narrow it.

1. Age
2. Things they do prefer which is on those old and not to this new era where everything is almost dealing with online or digital
3. Emotion
4. Sticking on what government do allow
5. Being not open minded
6. Doesnt accept changes or have that principle on what he should believed.

etc.

As part of governing body on a particular country then you would stick out on centralized things no matter what.
The reasons that you are giving are the most important ones, however and additional reason is that while in a truly democratic government the power will change hands, we also know that in most countries there are a series of actors that have so much power that they are the power behind the power.

Those people do not see with good eyes something like bitcoin as the control they have with fiat currencies is so extreme that anything less than that feels like a loss to them, so they are not willing to give up the power they have, and this is why they oppose bitcoin and any decentralized currency with all the influence and power they have.
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March 07, 2022, 03:43:22 AM
 #48

The decentralization of Bitcoin is out of their control and they are more used to the centralized way without really realizing the benefits and importance of Bitcoin.
As bitcoin is accepted by more and more people, it is more valued, and they will slowly accept it.
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