US Senate drafting anti Bitcoin law

[wizer]

Is this for real? haven't seen this news anywhere else yet

found on Google News
http://www.tribbleagency.com/?p=8070

EDIT: the google news results says 'satire' next to the news source. So maybe a false alarm

Tribble Ad Agency (satire) - ‎4 hours ago‎

[1713544882]

1713544882

[1713544882]

1713544882

[mmdough]

Uh.

They don't really even pretend to cite any sources, do they? They could have at least credited an anonymous informer in one of the Senators' offices.

And has anyone else heard of this site they link? Doesn't seem like much of a 'rallying point' to me.

I call scam. Trying to build on fears of crackdown to accept donations through phony site.

[the founder]

No it's 1000% true.... Tribble Agency breaks news faster than most news sources... hence labled satire because some of it turns out to be only half the story.

But yes it's true... look.

http://wnflam.com/news/articles/2011/jun/08/senators-seek-crackdown-on-bitcoin-currency/

and

http://news.cnet.com/8301-13506_3-20070268-17/senators-target-bitcoin-currency-citing-drug-sales/

and

http://www.theregister.co.uk/2011/06/08/bitcoin_under_attack/

[Freakin]

Lol no way this is close to true (yet).  I think it's just a ruse to direct people to inflation.me and solicit donations.  It referred to that site as the "central rallying point"

The articles you linked stated what we already knew, that the senators were talking loudly about getting silk road shut down but there has been absolutely 0 confirmation that there is any legislation being drafted.

In addition, they would have an uphill battle declaring bitcoins to be a "currency" and that only the government has the right to coin. 

Article is total BS

[Astro]

No legislation is pending or has been introduced.  None will be for weeks or months.  Nothing to see here.

[Vandroiy]

The letter is about SILK ROAD.

Because they sell DRUGS.

People just re-phrase it to be against Bitcoin. I never read they wanted to do anything against Bitcoin, or TOR, which were both mentioned as explanation, but nothing more.

[JohnDoe]

Regardless the currency is under attack. Inflation.Me has become the central rallying point to save the online currency. The site is accepting bitcoin donations..

Seriously?

No it's 1000% true.... Tribble Agency breaks news faster than most news sources... hence labled satire because some of it turns out to be only half the story.

Asking the DEA to shut down Silk Road is pretty different to drafting an anti-bitcoin law that makes all transactions illegal.

[newguy05]

i wish this were true, it will make bitcoin MUCH MUCH more popular

[mmdough]

No legislation is pending or has been introduced.  None will be for weeks or months.  Nothing to see here.

+1

[Drifter]

Inflation.Me has become the central rallying point to save the online currency. The site is accepting bitcoin donations..

Huh? I never even heard of this site until now.

[Anth0n]

The senators said nothing about getting rid of Bitcoin itself, just Silk Road. The article titles are misleading. Even if they do find some poor excuse to crack down on Bitcoin, all they can do is shut down the exchanges. An anonymized exchange would solve this problem.

[Grant]

Here's anotherone from a reliable source...

Breaking news, Sens. Joe Manchin (D-W.Va.) and Charles Schumer (D-N.Y.) sent a letter to Attorney General Eric Holder and Drug Enforcement Administration Administrator Michele Leonhart urging them to shut down the internet, because it enables an underground website that links anonymous drug users with anonymous drug sellers.

[gigitrix]

Inflation.Me has become the central rallying point to save the online currency. The site is accepting bitcoin donations..

Huh? I never even heard of this site until now.

Me neither. Seems like an ad.

[mmdough]

Here's anotherone from a reliable source...

Breaking news, Sens. Joe Manchin (D-W.Va.) and Charles Schumer (D-N.Y.) sent a letter to Attorney General Eric Holder and Drug Enforcement Administration Administrator Michele Leonhart urging them to shut down the internet, because it enables an underground website that links anonymous drug users with anonymous drug sellers.

Holy shit!

RELIABLE

Please link me to a website fighting this, I would like to send them bitcoins and my unborn children.

[freespirit]

This is bound to happen.
The only way to fight this is more exchanges with bank accounts around the world and more shops/services/etc accepting/paying out bitcoins.

[enmaku]

This is bound to happen.
The only way to fight this is more exchanges with bank accounts around the world and more shops/services/etc accepting/paying out bitcoins.

Exactly. The bigger a distributed network becomes, the deeper it permeates society, the harder it is to kill.

[delafield]

The sky is not falling, but consider this:

"Schumer's top nine campaign contributors are all financial institutions who have contributed over $2.5 million to the senator."
"The Securities and Investment industry is the largest donor to Schumer’s senatorial campaigns."

Source: Wikipedia. Is Schumer really concerned about some drugs being sold? Uhhh, no. Is Schumer concerned about the rise of a new system of exchanging value that cuts out his largest donors? More likely. In the letter, the Senators do go out of their way to demonize bitcoin when they didn't have to. This is not a surprise because Senator Schumer is from New York, the center of the financial business in the US.

Legislation is very slow, however. By the time anything happens on the hill, Bitcoin will hopefully be well past stoppable. And, there are interests that will try to block any such legislation. The increased attention received by bicoin may actually help the project.

Regards.