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

[PsylockReborn]

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/

[slitil]

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.

[leonair]

It's much better to just let go and deny this news instead of stressing out yourself to this kind of individual who's only intention is for self gain because we all know that Bitcoin is too great as a technology and it will continue to grow no matter what people think negative about it. Obviously this Congressman was partnered up with an online payment processing services and e-commerce merchant services that if he supports Bitcoin then he won't get anything from them.

It was made for the betterment of the people and it's still like that. Negative or positive advertisement, Bitcoin will soar high in the future and that's for sure.

[Mandoy]

Even if the congress is against cryptocurrency and will decide to ban it but if a huge number of bitcoin enthusiasts will shout and let their voice be heard then the congress will have no choice but to give way. The mentioned congress individual does not understand that banning bitcoin will have a negative impact on the bitcoin holders in their country and a huge amount of money will be at risk if the bill is approved.

[talkbitcoin]

there is a lot of FUD out there about bitcoin and this is not going to change for years. this news seems to me to be one of those cases. someone who is benefiting from bitcoin and possibly has a lot of bitcoin stored away and is buying more is spreading FUD about bitcoin so that he can delay the rise of bitcoin so that he can buy more of it.

[Loye]

Corruption exists literally everywhere, it's not something new. Whether it's the congressman or the authority of a certain state, they soon realize the need of cryptocurrency after banning them So, banning cryptocurrency like Bitcoin and removing the ban soon after has been a common phenomena in such countries, it's just them wasting their time, thecommunity will keep increasing no matter what they do.

[Found bt]

From my point of view the authority of crypto currency should take proper step. As crypto and fiat are both use in different purpose. Till now I think its ok but the authority should take proper step to stop it.

[BTCisAngelCoin]

I think that government as well as the Supreme Court will be in favor crypto currency. Bitcoin is very popular in India and banning of this will affect many investors in India. So I think government and Supreme Court will take right decision.

[Haten1975]

The main reason the government fears this crypto market because the entire transactions happening here are anonymous. This makes them fret that illegal things will be trafficked here. But they need to see beyond the line and see how this market actually works is not at all that bad.

[sitnibtc]

Another bitcoin hater i think. i do agree that he probably does not get anything from btc and just tries to get rid of it. I don't even think they do try to understand bitcoin

[Xester]

If we really look into that issue we can deduct that such political figure have only a one side understanding of bitcoin and therefore has a biased against the use of bitcoin. That is why we as members of this forum must help each other to spread the understanding about bitcoin and cryptocurrency so that politicians will have a clearer picture on what laws to pass that can help cryptocurrency grow rather than kill it.

[Proo1947]

A person only bans something thinking it would be to beneficial for people to overpower their authorities only. Conflict of interest indeed.

[FourByfour]

there is a lot of FUD out there about bitcoin and this is not going to change for years. this news seems to me to be one of those cases. someone who is benefiting from bitcoin and possibly has a lot of bitcoin stored away and is buying more is spreading FUD about bitcoin so that he can delay the rise of bitcoin so that he can buy more of it.

FUD lately are increasing, and damn this articles might give support to it, and also lots of people keep believing on it.

[ziro cent]

These toxic people are the reason behind cryptocurrencies not getting widely accepted whereas they themselves are busy making a profit for themselves. It just proves that, cryptos are the future and you cannot run from it.

[PsylockReborn]

There isn't a single thing inthe world which does not have any contradictory value or simply say a dark side.

I agree with you on this. Even FIAT can be used in illegal transactions and in money laundering.

It's much better to just let go and deny this news instead of stressing out yourself to this kind of individual who's only intention is for self gain because we all know that Bitcoin is too great as a technology and it will continue to grow no matter what people think negative about it.

Don't worry I'm not stressed out by this news. It's just that, this kind of news is nice to tackle since this person who is so biased is a congressman and we all know that congressmen do have other issues to ponder upon on rather than focus on banning one of the greatest technological invention.

It was made for the betterment of the people and it's still like that. Negative or positive advertisement, Bitcoin will soar high in the future and that's for sure.

No one can predict the future of bitcoin. Bitcoin last year skyrocketed and reached its ATH but why did its value went down? It's because of FUD and the rumors that crypto will be regulated or even be banned. This is not just a simple advertisement, we are talking about a congressman who has power to create or suggest laws of banning crypto.

I think that government as well as the Supreme Court will be in favor crypto currency. Bitcoin is very popular in India and banning of this will affect many investors in India. So I think government and Supreme Court will take right decision.

It really depends on the people who are running the government that is why some of the countries are banning crypto and others aren't. There are just some people in the government that lacks knowledge on how the technology works and how it can improve the economy of a certain country specially those areas that have so many crypto adopters.

FUD lately are increasing, and damn this articles might give support to it, and also lots of people keep believing on it.

Specially those people who are still new into crypto space who has less understanding what this innovation can really offer in the near future.

These toxic people are the reason behind cryptocurrencies not getting widely accepted whereas they themselves are busy making a profit for themselves. It just proves that, cryptos are the future and you cannot run from it.

I concur with you on this. Change is the only constant in this world and people who are not open minded and are not used to change won't adopt to this kind of technology since its intangible.

[samiraetn]

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.

[Wicked Sick]

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.

[leonair]

It's much better to just let go and deny this news instead of stressing out yourself to this kind of individual who's only intention is for self gain because we all know that Bitcoin is too great as a technology and it will continue to grow no matter what people think negative about it.

Don't worry I'm not stressed out by this news. It's just that, this kind of news is nice to tackle since this person who is so biased is a congressman and we all know that congressmen do have other issues to ponder upon on rather than focus on banning one of the greatest technological invention.

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.

It was made for the betterment of the people and it's still like that. Negative or positive advertisement, Bitcoin will soar high in the future and that's for sure.

No one can predict the future of bitcoin. Bitcoin last year skyrocketed and reached its ATH but why did its value went down? It's because of FUD and the rumors that crypto will be regulated or even be banned. This is not just a simple advertisement, we are talking about a congressman who has power to create or suggest laws of banning crypto.

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.

[Harlot]

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.

[cichardscrypto]

These type of incidents prove that people like these, who we know as sharks are definitely aware of the potential of BTC but trying to gain profit only for themselves whereas they are saying something else in the congress. Really shameful.