Congressman who suggested Bitcoin [BTC] ban accused of conflict of interest

[hugeblack]

It depends on the angle of vision, the government can not control bitcoin and will not benefit from it, so do not issue it with its support.
When cryptos become more popular, governments will have two options to either accept or ban.

   Accept: Bitcoin means rationing and trying to impose control over it such as regulations, linking to ID cards and other things.
   Ban: If the government's efforts to control these currencies do not succeed.

There is some optimistic news from G20:

While crypto-assets do not at this point pose a global financial stability risk

Source----> https://g20.org/sites/default/files/media/communique-_fmcbg_july.pdf

[Kittygalore]

There are really lots of people who are really hypocrite in nature. If only this congressman benefited from crypto then he won't be suggesting to ban BTC. FIAT or crypto can be both used in illegal transactions. Hope that the government will stop focusing on the negative side of the technology of crypto and promote the benefits that we can get using the blockchain technology for the betterment of our economy and services offered from different business sectors of the world.

https://ambcrypto.com/congressman-who-suggested-bitcoin-btc-ban-accused-of-conflict-of-interest/

Nothings perfect in short. Bitcoin may have the dark side but bitcoin really is a big help to the economy of the world at the same time, to the investors or to the poor people who wanted to gain more income to sustain finances. Bitcoin is better that the government's job fair, because with bitcoin only a little amount of money is needed, but with government there are lots of qualifications. Bitcoin really is a big help to everyone.

[paul00]

The point of Mr. Congressman Brad Sherman is the activity of illegal gambling on his state we all know illegal gambling can use fiat or crypto or any exisiting payment method but banning bitcoin with that idea are not well planned even if the ban proceed illegal gambling can not stop it will for a while but not for too long.

[goodluck0319]

this is a predictable reaction, perhaps for manipulation, because this technology must be kept to yourself in all ways, even the dirtiest

[pakhitheboss]

Nothing changes in this world easily. People will always be against change, People will always oppose new technology. This is Human Nature, there will always be someone who will be against you. Bitcoin is also facing the same thing, People will slowly and steadily understand the benefits of Blockchain technology and Bitcoin. You just have to wait and watch.
I tend to letgo such news rather than stressing myself out. 

[PsylockReborn]

There are so many people’s are against bitcoin. They want to ban bitcoin. Because they feel bitcoin is illegal but i think bitcoin and fiat money both are legal transaction. That’s why i believe in near future all countries are accept bitcoin.

It's simply because they know nothing about the technology. At first I was also skeptic about bitcoin, but eventually invest in it seeing its potential when it comes to value.

Well obviously he had a problem with the crypto markets cause the cryptocurrencies threatened his biggest donators business model and future. Similarly Bitcoin threatens many such organizations and banks who are not happy with it and are going to lobby against the crypto markets but it isn't going to work.

Crypto and FIAT online payments will always coexist. There are really people who prefer using crypto just an investment vehicle not for paying bills or as a currency. So for me bitcoin is never a threat when it comes to other modes of payments.

I got your point but still he's only a single politician with hidden agenda that only making himself a big joke out of all the people who really knows what is Bitcoin all about. Since the creation of Bitcoin there are countless FUD that has been surfacing around the world but none of it with last because it's all about the false advertisement.

He is in the higher office in the government. Even a single high ranking official can still influence a lot of people specially his voters. To tell you frankly, people who doesn't know about bitcoin always sees it as a joke or a bubble. I myself was one of the skeptics about bitcoin when it started few years back because I don't know anything about it and its not tangible.

There is no such thing as continuous uptrend, the massive increase in price of Bitcoin was great and it went down because it needs to and it's not like BitConnect or other kind of scam coin , I am not a professional trader but it's a healthy correction. Many people ride the boat and sadly some of them loses their money. I know that it's not a simple advertisement but I look at those negative feedback to Bitcoins as an advertisement because at least they are talking about it for free and people starting to notice it until the time they realize that it's too good more than anything else.

Last year was a huge uptrend. You may not find it continuous but for me it is. Try to look at the chart below.

His agenda died down when discovered that Allied Wallet is one of his biggest donators in the campaign, I doubt that his fellow representatives will back him up now as them being politicians don't want to ruin their image which some politician who has an hidden agenda. Plus this was old news and I think the news website is the only one giving up steam because I haven't seen any hate in the social media as of lately.

That's why a single high rank politician suggesting about banning bitcoin is never a joke. They do have allies and lots of them has less knowledge about the technology of bitcoin or worst doesn't support decentralization.

[Hammonds]

If I hear FUD like that, I always let it go.
Because later they will understand the benefits of Cryptocurrency.

And my advice when there is an FUD like that do not trade, because the value of cryptocurrency will go down.

[target]

Blockchain is a  good technology but cryptocurrency may not be good from their point of  view not just because they are not holders but they see if can be used in illegal  drugs and crimes. They know how difficult it is for the government to track these people making illegal business using bitcoin which is why they are against it.

If I hear FUD like that, I always let it go.
Because later they will understand the benefits of Cryptocurrency.

And my advice when there is an FUD like that do not trade, because the value of cryptocurrency will go down.

It is however better to buy the coins.

[KingScorpio]

There isn't a single thing inthe world which does not have any contradictory value or simply say a dark side. That doesn't mean we are avoiding it, rather they bare to be used with regulations. Same concept should be applied with Crypto trading. Crypto trading lacks security assurance, then the Govt. may come with some regulations, make force it, discuss it and come to an amendment in case of needed. But Banning something doesn't mean any sense. Hope USA feels the same someday.

thats not true actually there are things that are purely beneficial for all involved.

like fresh air. food, peace and order.

bitcoin will create in regions that were before quite structured and organised an unstructured and wild place. with millions of icos seeking for attention of which all have the same legitimacy like bitcoin.

when the us dollar is gone. bitcoin is not measurable anymore with us power it will be just what its called a bitcoin, and thats it.

oh and not to forget if the core of the united states (army, police, legislation, and judicary) whil reform the financial system in which the banks are simply banned from gambling around. like they are doing now with bitcoin.

so that the banksters have their own money, which no one trusts and wants. bitcoin will have a much lower value to that new us dollar then, it will be a huge loss of value.

[kamBlanV]

in my opinion, the government has good reasons why they ban bitcoin. I am sure, that they admit bitcoin has great benefits, they don't turn a blind eye.

but, the crypto risk is also very large, while everyone doesn't know the concept of bitcoin, the public only thinks about the positive advantages and good values of bitcoin.

and we have to pass every process so that bitcoin can be accepted by the public.

[jameswell]

Its really not surprising to see those Establishment elites trying to ban Bitcoin which was created to free people from being exploited by these people and their unsustainable monetary policy.
Bitcoin has been declared dead for hundreds of time but it's still alive and getting accepted by more and more people over the world in the last nine years.