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Author Topic: US Senate drafting anti Bitcoin law  (Read 5740 times)
AaronM
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June 11, 2011, 06:18:50 PM
 #21

Value of bitcoin is gonna fall. The sky is falling. Just when I found something to do...now they take it away. Land of the free my ass.....

http://www.tribbleagency.com/?p=8070


No source, no reality.  Article 1 sec 8 states what the US Gov *CAN* do, and specifically it says that it CAN MINT COIN, that it can regulate the value of that coin.  It does not give the US Gov *ANY* legal standing to make ANY other form of currency, trade, barter, etc, illegal.  Period.  Read the constitution.  That which is not EXPRESSLY allowed is forbidden -> http://en.wikipedia.org/wiki/Everything_which_is_not_forbidden_is_allowed it applies specifically to the gov, if they're not EXPLICITY, DIRECTLY allowed something, then it's forbidden.  Basically, the most they can try to do is say "bitcoin is worthless here in the US in terms of the dollar"  -- they can say that until they're blue in the face, but if private entities accept/trade it, well, nothing they can actually do.  Just like now.

Does the Constitution allow Congress to create the IRS and enforce income taxation? http://en.wikipedia.org/wiki/Internal_Revenue_Service#American_Civil_War_.281861.E2.80.9365.29

Hmm, it doesn't look like the Constitution stopped them!

Spare some BTC for a biology student? 1DZcEUEo9rX7LQWcYzVR6Btqj2sMqRznbB
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Basiley
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June 11, 2011, 06:19:09 PM
 #22

read in next BitCoin Daily "BitCoin network issued and ratified anti-Senate law".
cypherdoc
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June 11, 2011, 06:20:58 PM
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note the modus operandi of the FUD's.  they throw up a panic post then don't bother to keep the thread going to support their wild ass claim.
handburger
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June 11, 2011, 06:25:40 PM
 #24

Even if this is true, it doesn't matter.  Plus it'd probably making BTC worth more.
Capitan
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June 11, 2011, 06:26:16 PM
 #25

Value of bitcoin is gonna fall. The sky is falling. Just when I found something to do...now they take it away. Land of the free my ass.....

http://www.tribbleagency.com/?p=8070


Your first post. This poster is yet another of the swarm of people trying to cause panic.

There is no source that anyone is drafting legislation about bitcoins. All that happened was Schummer and another senator sent a letter about Silk Road, which mentioned bitcoin as the digital currency being used on silk road. Then every blogger and news site for some reason picks on bitcoins instead of the silk road aspect.
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June 11, 2011, 06:32:46 PM
 #26

the sky has been falling since day one, unborn now!
delafield
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June 11, 2011, 08:00:07 PM
 #27

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 would try to block any such legislation. The increased attention received by bicoin may actually help the project.

Regards.
bitcoinminer
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June 11, 2011, 08:43:52 PM
 #28

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 would try to block any such legislation. The increased attention received by bicoin may actually help the project.

Regards.

They've done such a bang-up job killing file sharing after all...

Schumer doesn't give a flying fuck about anything but Chuck Schumer.  It's just a bandwagon for him to jump on that one of his interns read about, probably while looking for boner pills online.

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett
RandyMarsh
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June 11, 2011, 08:59:34 PM
 #29

This just seems to be an ad for the Donation hungry inflation.me site

Stan?! STAN?!?!
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