US Congressman gets paid to trash Bitcoin

[cellard]

Basically, this man to got paid by a credit card processor company (the biggest donation he's had) in order to trash Bitcoin because they know that if Bitcoin keeps gaining terrain it would displace their business. Of course and once again, nothing to do with them trying to protect idiots whom "will get burned by bitcoin".

https://finance.yahoo.com/news/bitcoin-crock-politician-received-biggest-180229189.html?guccounter=1

[dothebeats]

The men seated in such positions are the ones used by these giant corporations for their schemes. I wouldn't be surprised if a politician is used to throw rocks at bitcoin for literally no reason at all, just to make it look bad to the public and buy the idea that they are the good guys protecting people from the utter failure bitcoin is. This type of activities will continue as long as bitcoin delivers and proves that it's a worthy asset that people can use with little compromises. People will always be able to find what's best for their needs, so no matter how much mud-slinging these guys do, bitcoin will still thrive.

[The Sceptical Chymist]

Good article--but you have to love the title of it, which definitely is on the side of crypto and calling his bullshit.  Sadly, this happens a LOT in politics.  You can see the NRA's influence as well as big pharma and big tobacco and tons of other lobbyists.  It's a bit surprising to me that payment processors could have that kind of power, but perhaps it shouldn't be. 

He probably got a visit from one of the lobbyists and got a totally one-sided story about how crypto is a mechanism by which terrorists and dark market operators transact.  Guaranteed. 

Figures this was a California politician.  It's the most liberal and ass-backward state in the country.

[LeGaulois]

The irony is Allied paying Brad Sherman who said Bitcoin is used for illegal activities. While the company itself had a problem years ago for illegal activities, for money laundering. Oh yeah, Bitcoin is disruptive, people have double standards?

http://www.justice.gov/usao/nys/pressreleases/August10/Payment%20Processors%20Forfeiture%20Settlement%20PR.pdf
https://web.archive.org/web/20150423010101/http://www.highbeam.com/doc/1G1-237229715.html

[cellard]

The irony is Allied paying Brad Sherman who said Bitcoin is used for illegal activities. While the company itself had a problem years ago for illegal activities, for money laundering. Oh yeah, Bitcoin is disruptive, people have double standards?

http://www.justice.gov/usao/nys/pressreleases/August10/Payment%20Processors%20Forfeiture%20Settlement%20PR.pdf
https://web.archive.org/web/20150423010101/http://www.highbeam.com/doc/1G1-237229715.html

And yet it continues being the biggest donator, this time because Bitcoin poses an obvious risk for these Allie Wallet scammers. It is insane how this is legal. I mean the guy is there live on TV talking on behalf of the US and the so called well being of the potential investors that would be interested in crypto and he is basically shilling a product being paid to do so, WHILE trashing a product that could be a very healthy competition against the product he is shilling. This is simply nuts, but then again, this is what politics are, just puppets for sale at the biggest bidder, using the excuse of the well being of the population in order to pump and dump stuff. Im sure there are some good politicians with good intentions out there, but unfortunately it seems the ones that end up at the highest positions somehow always end up bribed to pitch the obligatory corporate scam.

[omonuyak]

Basically, this man to got paid by a credit card processor company (the biggest donation he's had) in order to trash Bitcoin because they know that if Bitcoin keeps gaining terrain it would displace their business. Of course and once again, nothing to do with them trying to protect idiots whom "will get burned by bitcoin".

https://finance.yahoo.com/news/bitcoin-crock-politician-received-biggest-180229189.html?guccounter=1

This particular attack will come and go like every other one and bitcoin is not going to be trash. We have had the issues of banning from one country to another and bitcoin is still remain with us.  I think no amount of attacks from governments agency or they paying masters will be able to trash bitcoin.

[zakariajaki]

Basically, this man to got paid by a credit card processor company (the biggest donation he's had) in order to trash Bitcoin because they know that if Bitcoin keeps gaining terrain it would displace their business. Of course and once again, nothing to do with them trying to protect idiots whom "will get burned by bitcoin".

https://finance.yahoo.com/news/bitcoin-crock-politician-received-biggest-180229189.html?guccounter=1

I think it's a common thing when an old paradigm is replaced by a new point of view and is sure to be reviled and even turned off by many but is now different when an information is accessible to everyone and certainly a new paradigm will be embraced, in various ways one way asking someone who is used as a tool for a giant company is definitely the goal is none other than to stop the rate of technological and economic development created by crypto, every company will surely do that is none other than to keep the power and programs that have been made, may be useful and successful for all of us

[LeGaulois]

The irony is Allied paying Brad Sherman who said Bitcoin is used for illegal activities. While the company itself had a problem years ago for illegal activities, for money laundering. Oh yeah, Bitcoin is disruptive, people have double standards?

http://www.justice.gov/usao/nys/pressreleases/August10/Payment%20Processors%20Forfeiture%20Settlement%20PR.pdf
https://web.archive.org/web/20150423010101/http://www.highbeam.com/doc/1G1-237229715.html

And yet it continues being the biggest donator, this time because Bitcoin poses an obvious risk for these Allie Wallet scammers. It is insane how this is legal. I mean the guy is there live on TV talking on behalf of the US and the so called well being of the potential investors that would be interested in crypto and he is basically shilling a product being paid to do so, WHILE trashing a product that could be a very healthy competition against the product he is shilling. This is simply nuts, but then again, this is what politics are, just puppets for sale at the biggest bidder, using the excuse of the well being of the population in order to pump and dump stuff. Im sure there are some good politicians with good intentions out there, but unfortunately it seems the ones that end up at the highest positions somehow always end up bribed to pitch the obligatory corporate scam.

Yeah, I saw the page listing the funds received. Allied Wallet has been the highest donator. Unfortunately, propaganda is not punishable by law and today's society has been based on propaganda for decades. Politicians are no longer what they used to be, they are now the lobbys representatives

[b3j0]

I hate people who are involved in this, they do not think if bitcoin has helped millions of families in the world. they should think about it and find another way.

[Sama517]

Forget this old man. There is nothing he can do. His paymasters will only be left in disappointment because he won't be able to achieve anything. The forces behind Bitcoin are far greater than him.

[Theb]

Really you call this a "donation" what they doing is more like a bribe as Allied Wallet had gained some political interest and definitely it is some kind of favor given in return by Congressman Sherman. For starters their company is obviously affected by these cryptocurrencies and suddenly this Congressman is claiming that Bitcoin is a "crook" all of a sudden. To tell you honestly Rep. Brad Sherman does not look knowledgeable in the topic of cryptocurrency particularly with Bitcoin, as he repeatitively linking it to criminal activities which is the default impression of people who lack knowledge about Bitcoin.

[Shenzou]

Well this is no surprise, I am sure that there are a lot of hands controlling the ones who are in the seat of power, by shoving money into their faces (if their jobs were not paying enough) to do things and make and breaks regulations as they please and as thier serves their intressets, and for this reason I am not surprised that bitcoin still has not been accepted till this day even though everyone knows that it is a technology worth developing, and the biggest proof to this is regulations that came to stop its rise last year and led to it going down since

[wantjokull]

Amazing, another shit is dropping from the sky. 
The politics always going to be there and no one can help it restrain from the decision that they make. Off course that is why it is called as politics. The giant companies like those will always throw some bag of green paper and these people will fall for it always. They just care about the current situation and what they getting from them. They will never think about the technology or stuff related to advances unless and until it becomes the emergency one.

[aoluain]

What a waste of money, this sort of tectics are not going to and have not
troubled bitcoin, its bigger.

There was also a polish social media guru found out not so long ago
who was being paid to slam bitcoin. Its everywhere and still they cannot beat it.

https://www.cointelligence.com/content/poland-secretly-paid-youtubers-to-attack-at-cryptocurrencies/

[bowals]

It's bound to happen, don't expect the "middle men" - banks to go down without a fight

[turtletime]

Hopefully these jokers won't be around too long so the new technology can break through and change the world.  People will do anything to protect their business interests.

[Harlot]

Even if Rep. Sherman has previously been against Bitcoin there is no doubt that the donations have some kind of influence with his continued hate against Bitcoin. The Allied Wallet is like giving a treat to Sherman for doing a good job or some sort to continue his efforts against Bitcoin. Luckily this is only one representative and I hope that it stops there because if more will go to the same road their justice system might take another look on what is happening to their legislative department.

[darkangel11]

It reminds me of that case that I read about couple weeks back. In short, he Polish government paid youtubers to create an anti-crypto campaign in the media. It was a decent sum, more than 25k USD.
This is just another case of of companies having politicians in their pockets. It's good that corruption got exposed once again, but bad that he's not going to have to pay for this in any way. A politician that is lobbying for a business should be stripped of rank, covered in tar and feathers and kicked out of congress.

[nestorjacob]

well, politicians will continue to be politicians because, in the first place, it is lies that send them to the positions that they are holding now so they will continue to live such lies and influences from people within and outside. These people have secrets and promises to keep and to follow the wishes of some people they get financial support from.

[terrific]

I wasn't afraid about this man, it's obvious that he's doing it for an agenda.
If he's real and against bitcoin why he's been silent during all of the time? and now that bitcoin starts to bull he's getting attention?
LOL that troll face tho.