US Congressman gets paid to trash Bitcoin

[GalaxyWorld]

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.

In developed countries such as the United States, all decisions of the government have a great impact on the economy of the country and the world so the decisions are carefully considered. The use of Bitcoin will be a two-blade knife if the way to use its advantages is excellent, but the opposite will greatly affect the economy of the country.

[Seetheummerallyeah]

Let me just remind you Sherman's highest donor is a credit card company. Let me just remind you he sold out the people for a measly $13k. Let me just remind you that he tries to cover up his "donations" by DMing people on twitter in an attempt to defend himself. This is actually gold:

[samcrypto]

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.

In developed countries such as the United States, all decisions of the government have a great impact on the economy of the country and the world so the decisions are carefully considered. The use of Bitcoin will be a two-blade knife if the way to use its advantages is excellent, but the opposite will greatly affect the economy of the country.

Big people will do everything to destroy all the threats into their businesses, no matter what the status of your country. I believe they are being paid to talk shit about cryptocurrency, well even they done it they will not succeed because a lot of bigger countries already make this thing legal.

[richardsNY]

It's okay. It's something we know happens for decades and even Bitcoin won't be able to avoid being subject to all of this, especially so with how it directly combats the extortionate fee structure of banks and CC processors. This once again shows that we are working towards something that is meant to provide the world with more economical freedom, but it's not appreciated by those running the financial world. The more these things happen the more people are tempted to go against these tyrants, and thus to use either Bitcoin or other crypto currencies. It's people's nature to do that what others don't want them to do.

[Morgann]

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 is the reason why people in the community is not getting rich, there are corrupted government officials who are hindrance for peoples growth just like this.

[dev9t9ok]

This man is quite old so it is difficult for him to study and master any new technologies so he has not figured out possibilities and benefits of the crypto technologies what has caused his negative opinion about the crypto industry

[BitHodler]

This is the reason why people in the community is not getting rich, there are corrupted government officials who are hindrance for peoples growth just like this.

Yes, but if you continue to complain about corruption but don't do anything to change your situation, nothing will ever change. No one will help you to change, it's all up to yourself.

I don't even mind corruption anymore, because we can't do anything about it. I only care about how I can avoid being a victim here, and using Bitcoin is a great way to accomplish that. It's simple and extremely effective.

I feel sorry for the average joes because they don't see the threats we see, and for that reason think it's normal to see all this happen. It's partly ignorance and brainwashing, but we can and should help them get over it.

Everyone deserves freedom, not just the elite.

[Aveatrex]

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

Or....Just to make Bitcoin's value drop so he and his patriot can jump in!No but seriously,I'm pretty sure he isn't the only one.A lot of high influece people are probably getting paid to do so,even news channels and media in general is probably all corrupted too.They know that Bitcoin price is mainly based on news and influencers speech and in my humble opinion this is the biggest Bitcoin's vulnerability.

[r32godzilla]

It's termed as lobbying and it is common in developed countries.Big business people use it to have their influence over the government policies and make it favour to them.

[lunaelucemauram]

It will always be a trend to such companies who will feels threatened by a new company or technology. It is already a marketing scheme and only people who does not believe or does not know such technologies or companies believe in them along with loyal supporters of the company that is doing the bad mouthing. We as the ones who are more knowledgeable should already know what to do and help educate other people who would believe in such claims.

[mostkey]

The game is predictable, the tacit politics to adopt it and once the price gets better and waiting for them to try to impose its value, it is regrettable in such a case, on the other side of the various governments that prohibit Bitcoin but they themselves try to manipulate and try to take care of those idiots, it's a pity to just pay to drop the cryptocurrency, by spreading all ugliness like an idiot child.

[hatshepsut93]

It's exactly the same as war on drugs - big companies don't want to have competition with rising technologies and protducts, so they bribe politicians to outlaw their competitors. Then they also use the media to convince at least some part of the population that their competitors are evil that needs to be stopped, or the whole society will crumble. I think the reason why Bitcoin hasn't been banned already is because it was ignored for most of the time, those companies and banks that are now scared have thought that Bitcoin is just a fad, it can't possibly work, but now that they see it is working, they say it's used by criminals and terrorists.

[entrepmind23]

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

It's not surprising to see a politician doing such thing because they are really not the one ruling the country but the people behind them who has deep pockets. Seeing how bitcoin is performing, they would continue to do such scheme because they are afraid that their business might be affected.

Thanks to that reddit user for exposing such scheme. This kind of scheme is not something new as we have seen some peoplpe who have use their position before to discredit bitcoin but then as crypto enthusiast we know better. They would just have to insist about the illegal activities so that people would be discourage to invest on it but sooner or later, people wouldn't mind it as they become more educated about the purpose of cryptocurrencies.

[Mpamaegbu]

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?

But really, we should expect that politicians are double-speaks who easily switch boats and to where is more favourable to them. Its an instinct to survival. In a sooner time, everyone will know where they rightly belong once the bitcoin ETF is done.

[pinkflower]

Its the US midterm elections coming on November 6 and its time for the politicians who are running to stage their own devices intended to attract some attention from the media and the voters. Does he really think cryptocurrencies should be banned? No, he doesnt care. But saying if will get him more votes then he will keep saying it lol.

[Indrawan77]

Its sad to see such kinds of news, but that is politics, some party only think for their own advantage, bitcoin actually is a very useful currency in the future, a lot of proved has been showed that it help so many people from poverty and able to get better life, a lot of businesses also rising due to the bitcoin, if all politicians only think for themselves then the country will ruins

[neliawesome]

Well its normal already if politicians are planning to banned bitcoin/cryptocurrency because they are one or have connections to oligarchs that wants bitcoin/cryptocurrency out just for their own sake.Their business are affected because of bitcoin such as bank.They want to totally elliminate bitcoin because it will just ruined their businesses.

[matchi2011]

Its the US midterm elections coming on November 6 and its time for the politicians who are running to stage their own devices intended to attract some attention from the media and the voters. Does he really think cryptocurrencies should be banned? No, he doesnt care. But saying if will get him more votes then he will keep saying it lol.

Good point. elections is nearly coming and more attentions can bring him more popularity, people like him might have basic ideas about crypto and he knows by fact that its really bringing a huge attentions all over the world, bringing down crypto can be a good advertisement gaining headlines attentions, and for sure competitors will ride with this news and big political back ups coming from banks and others financial business will bring him money.

[1Referee]

I only care about how I can avoid being a victim here, and using Bitcoin is a great way to accomplish that. It's simple and extremely effective.

That's a solid first step.

If people also stop feeding these assholes with exorbitant fees, they won't have much resources left to sponsor their toxic roadmap. It's your (ie, people's) money they use against you. In other words, they have no problems eliminating the one that feeds them. How can people tolerate that? I have never used a credit card and never will. I am not going to sponsor debt and extortion, neither should you guys.

It's mind boggling that some people here call it normal that this happens. It's not normal.

[Ava Duvall]

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.

Exactly his words mean nothing its empty talk. everyone who needs to know about bitcoin will do their own studies and find out the truth.