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Author Topic: Senator asks U.S. to ban Bitcoin and other cryptocurrencies  (Read 2060 times)
tokeweed
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February 27, 2014, 02:13:31 PM
Last edit: June 08, 2018, 02:20:42 PM by tokeweed
 #1

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Senator Joe Manchin (D-W.Va.) has called for the U.S. to ban Bitcoin, and by extension all anonymous cryptocurrencies.

In an open letter addressed to U.S. regulators, obtained by Business Insider Wednesday, Manchin wrote his desire for them to "limit the abilities of this highly unstable currency." He cited the usual host of complaints about Bitcoin: that it's a favorite currency of online illegal activity and that it's completely unregulated.

His primary concern, though, is economic, and that he doesn't believe in its long-term viability. "I am most concerned that as Bitcoin is inevitably banned in other countries, Americans will be left holding the bag on a valueless currency," he wrote.

A Manchin staffer told the Daily Dot that though the letter uses the word "regulate," the senator's intent is indeed to fully ban the use of Bitcoin in American trade. And while his office didn't seem familiar with other types of cryptocurrencies, like Litecoin and Dogecoin, the staffer said that Manchin would have similar complaints about any such anonymous form of online payment.

"It's the anonymous, unregulated nature of it," that Manchin finds a problem, the staffer said.

The timing could hardly be better for a politicians who opposes Bitcoin. It's has been awash in bad press in recent days, as once-prominent exchange site Mt. Gox mysteriously shut down, amid an allegedly leaked memo that admitted it had lost hundreds of millions of users' dollars. Mt. Gox, based in Japan, was reportedly issued a U.S. subpoena in the days before it closed up shop.


http://www.dailydot.com/politics/senator-joe-manchin-bitcoin-litecoin-dogecoin-ban/

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February 27, 2014, 02:25:32 PM
 #2

lets respond shall we:

http://wh.gov/lEE49
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February 27, 2014, 02:31:41 PM
 #3

Anyone who happens to live in West Virginia, please, never vote for Joe Manchin who proved to be freedom hater.
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February 27, 2014, 02:36:33 PM
 #4

He just wants to "protect" our money yet will he propose the government reimbursing all coin holders for all the thousands they've spent? Fat chance.
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February 27, 2014, 03:22:00 PM
 #5

How does Senator Manchin propose we regulate cash?  I mean every transaction is completely anonymous.  I know, let's put a serial number on every bill!  We'll only be able to track them as they come into banks, but it'll be better than nothing.

Every transaction with Bitcoin is documented and free for anyone to be able to see online.  There's even ways to find out which parties made the transaction.  Obviously, the FBI used the Blockchain to track down Silk Road, and not PRISM since it didn't take them 10 plus years to find the guy.  

Show me one American job, Senator,  show me on American job lost over Mt Gox, a Japanese exchange!!!  Quit fearing what you don't understand and start bringing more jobs to America and West Virginia like you were elected to do!
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February 27, 2014, 03:28:53 PM
 #6

some one must give him tip in Bitcoin and Litecoin then may be he change his mind about bitcoin and other altcoins

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February 27, 2014, 03:31:21 PM
 #7

This Senator is foolish. The U.S. will make a mistake if they ban bitcoin.

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February 27, 2014, 03:54:37 PM
 #8

lets respond shall we:

http://wh.gov/lEE49

IMHO, not a wise thing to do.

Were the US government to declare Bitcoins to be legal tender it would therefore have complete control of that particular crypto.

My $.02.

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February 27, 2014, 04:02:46 PM
 #9

lets respond shall we:

http://wh.gov/lEE49

IMHO, not a wise thing to do.

Were the US government to declare Bitcoins to be legal tender it would therefore have complete control of that particular crypto.

My $.02.

Wink

I'm too a bit puzzled towards recognizing bitcoin as legal tender.

But this seems clear cut:
https://www.change.org/petitions/senator-joe-manchin-don-t-let-the-government-ban-bitcoin
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February 27, 2014, 04:05:35 PM
 #10

I welcome a ban on crypto currencies, it will be the best marketing for crypto currencies.
Upon such ban people will realize even more that politicians care more about bankers than us.

At first cryptos will become a black currency, but when it becomes widespread enough like pot, they got to legalize it so they can tax it.
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February 27, 2014, 04:32:23 PM
 #11

I welcome a ban on crypto currencies, it will be the best marketing for crypto currencies.
Upon such ban people will realize even more that politicians care more about bankers than us.

At first cryptos will become a black currency, but when it becomes widespread enough like pot, they got to legalize it so they can tax it.

So I should have to live my life in fear that the government will track me down and arrest me for having Bitcoins?  No thanks.
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February 27, 2014, 04:34:15 PM
 #12

Senator Joe Manchin (D-W.Va.).

Another f*ckin' Big Government Democrat at work.

There are far too many people around here who trust the government.

My $.02.

Wink

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February 27, 2014, 04:35:39 PM
 #13

lets respond shall we:

http://wh.gov/lEE49

IMHO, not a wise thing to do.

Were the US government to declare Bitcoins to be legal tender it would therefore have complete control of that particular crypto.

My $.02.

Wink

and for all your two cents worth you could barely have made a dime

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February 27, 2014, 04:37:29 PM
 #14

Senator Joe Manchin (D-W.Va.).

Another f*ckin' Big Government Democrat at work.

There are far too many people around here who trust the government.

My $.02.

Wink

you been turning a blind eye to the nefarious activities on here or do you just log in for five minutes a day and put in your worthless 2 cents ?

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February 27, 2014, 04:40:28 PM
 #15

Almost everywhere politicians are like these only. Either they have no brain or cockroach sized. 

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February 27, 2014, 05:28:44 PM
 #16

worried about the economy ?? let's see we are been printing 85 billion for over a year .. then we start to taper and things are start to fail again .. i believe they cannot completely taper and i believe they cannot keep printing forever .. if the print forever then americans will be left holding a valueless currency .. if they taper then the economic recovery will start to fail .. what new system does the usa have in place to deal with the dollars demise ?? i do not believe that 'bail-ins' stealing americans money and stealing americans 401k's is solution that is going to work .. i think the reason china banned bitcoin is because they are buying and hoarding gold .. i personally think a gold backed currency is going to win against a currency that is that is debt . so unless the usa has a bunch of hoarded gold then we have to wonder what their PLAN is  . crunch time might not be the best time to ban new technolgy alternate currency that has been successful.
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February 27, 2014, 05:37:13 PM
 #17

Time for people to get unlazy, sign up, and vote.
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February 27, 2014, 05:40:47 PM
 #18

Senator Joe Manchin (D-W.Va.).

Another f*ckin' Big Government Democrat at work.

There are far too many people around here who trust the government.

My $.02.

Wink

you been turning a blind eye to the nefarious activities on here or do you just log in for five minutes a day and put in your worthless 2 cents ?

You are suggesting that surrendering to the government control of crypto will bring to a halt the various "nefarious activities on here" to which you refer?

Very much as the long-standing federal illegalisation of marijuana has eliminated it?

Or perhaps much as the Volstead Act eliminated alcohol use?

"Giving money and power to government is like giving whiskey and car keys to teenage boys."

-P.J. O’Rourke, Civil Libertarian.

My $.02

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February 27, 2014, 05:41:16 PM
 #19

Leave it to West Virginia to be afraid of change.  It's a sad fact of reality that people are always afraid of what they don't fully understand.
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February 27, 2014, 05:47:09 PM
 #20

Is it possible to ban the senator instead?    Tongue
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February 27, 2014, 06:46:25 PM
 #21

I welcome a ban on crypto currencies, it will be the best marketing for crypto currencies.
Upon such ban people will realize even more that politicians care more about bankers than us.

At first cryptos will become a black currency, but when it becomes widespread enough like pot, they got to legalize it so they can tax it.

So I should have to live my life in fear that the government will track me down and arrest me for having Bitcoins?  No thanks.
Don't worry, we live in revolutionary times.
The concept of centralized state power is losing it's value as we see people rise up against dictatorship around the world.
One generation from now we might live in city states where each city decides it's own laws, if you don't like the law you can move to another city with better laws.
That's decentralized democracy.
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February 27, 2014, 07:44:19 PM
 #22

Heard this senator's top campaign contributor is......  the one and only JP Morgan.
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February 27, 2014, 08:02:55 PM
 #23

Is it possible to ban the senator instead?    Tongue


he comes up for re-election in 2018 ..

last year he backstabbed the NRA with his gun control ..

we really going to need an explanation for this behavior ..
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February 27, 2014, 08:07:08 PM
 #24

https://bitcointalk.org/index.php?topic=489730.msg5411792#msg5411792

Outlaw dem eebil debilcoins ... !!

what a jackass...

Truth is the new hatespeech.
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February 27, 2014, 08:16:43 PM
 #25

Is it possible to ban the senator instead?    Tongue


he comes up for re-election in 2018 ..

last year he backstabbed the NRA with his gun control ..

we really going to need an explanation for this behavior ..

The explanation for his aberrant behaviour is that he is a Democrat.

My $.02.

Wink

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February 27, 2014, 08:40:49 PM
 #26

The US government is not going to ban crypto.

It has however, learned that that which is prohibited cannot be controlled.

What it will do is threaten to ban in order to frighten some of you into accepting government regulation of a thing which was originally created to be out of reach of govenment control and it seems to be working.

You are like frogs in pans of water.

Heat it up fast and the frog will jump out.

Bring up the heat slowly and the frog will boil to death.

My $.02.

Wink

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February 27, 2014, 08:42:13 PM
 #27

Even if it were banned world wide, it would still be of use in the United States...
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February 27, 2014, 08:44:46 PM
 #28

I welcome a ban on crypto currencies, it will be the best marketing for crypto currencies.
Upon such ban people will realize even more that politicians care more about bankers than us.

At first cryptos will become a black currency, but when it becomes widespread enough like pot, they got to legalize it so they can tax it.

So I should have to live my life in fear that the government will track me down and arrest me for having Bitcoins?  No thanks.
Don't worry, we live in revolutionary times.
The concept of centralized state power is losing it's value as we see people rise up against dictatorship around the world.
One generation from now we might live in city states where each city decides it's own laws, if you don't like the law you can move to another city with better laws.
That's decentralized democracy.
^^
THIS
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February 27, 2014, 08:56:16 PM
 #29

The US government is not going to ban crypto.

It has however, learned that that which is prohibited cannot be controlled.

What it will do is threaten to ban in order to frighten some of you into accepting government regulation of a thing which was originally created to be out of reach of govenment control and it seems to be working.

You are like frogs in pans of water.

Heat it up fast and the frog will jump out.

Bring up the heat slowly and the frog will boil to death.

My $.02.

Wink



bernanke left because he knows it is crunch time ..

tapering can cause debt default .

not sure banning bitcoin is the best move for the usa.
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February 27, 2014, 09:03:59 PM
 #30

Seems Senator Manchin was trying to position himself prior to his committee's hearing with new Federal Reserve Chair Janet Yellen. Fortunately, she's more intelligent than he is, saying that "the Federal Reserve simply does not have the authority to regulate bitcoin in any way.” http://bitjuice.com/2014/02/27/janet-yellen-fed-will-steer-clear-of-bitcoin/
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February 27, 2014, 09:04:33 PM
 #31

Don't worry, we live in revolutionary times.
The concept of centralized state power is losing it's value as we see people rise up against dictatorship around the world.
One generation from now we might live in city states where each city decides it's own laws, if you don't like the law you can move to another city with better laws.
That's decentralized democracy.

Are you referring to the revolution against centralized state power to stop Obamacare from imposing a $24K/year tax on middle class families just for breathing air and wanted to exist?

You're kidding yourself, the centralized state has been winning for a hundred years now and it is accelerating and We the People are celebrating it.
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February 27, 2014, 09:09:25 PM
 #32

He likes only Namecoins.

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February 27, 2014, 09:31:02 PM
 #33

See my sig for the petition.

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https://www.dash.org/
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February 27, 2014, 09:44:39 PM
 #34

much ban on dogecoin i hope wow!
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February 27, 2014, 09:47:18 PM
 #35

that sucks if i'm gonna have to involuntarily give up bitcoin usage.  simply because the US no longer offers them.
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February 27, 2014, 09:48:51 PM
 #36

i move to pass a law making usd illegal. all in favor say aye. all opposed say nay.

Rep Thread: https://bitcointalk.org/index.php?topic=381041
If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?
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May 20, 2018, 10:59:44 AM
 #37

Don't vote for him if he will run for senator again, this will have a bad impact on us, haha. They will ban Bitcoin in US then at the back door they will collect all the Bitcoin that was sold by their people as China use the ban word to collect as much BTC as they can.
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May 28, 2018, 12:34:13 AM
 #38

If US will ban Bitcoin and other digital currencies its is the biggest regrets. I believed that even will they will ban it still Digital Currencies will going strong and still more people will embrace but I hope it will not happen because it will affect the entire community


#Support Vanig
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May 28, 2018, 12:55:09 AM
 #39

Don't vote for him if he will run for senator again, this will have a bad impact on us, haha. They will ban Bitcoin in US then at the back door they will collect all the Bitcoin that was sold by their people as China use the ban word to collect as much BTC as they can.
What comes to your mind digging this four year old post?

And what you did is jist campaigns for not voting this senator?

Do you have personal issue about him/her?

Because i see nothing relevant on this post that youre pointing out.and maybe that senator dont get to take place again this last election.
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May 28, 2018, 01:14:15 AM
 #40

My question, who controls the society, who makes the law and who breaks it? Policians! They are all for there interest,
We gave them power, they give us laws! they tell us what and what not to do.
There voice always over shadow ours cry! They claim to be for us but never listen to us.
I thank God for Satoshi!
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June 06, 2018, 01:46:02 PM
 #41

it is a big mistake if America forbids Bitcoin or its other Altcoins.

Bitcoin makes it easy for transactions and will replace paper money and metal, right into the currency of the future. so when Bitcoin is banned America will experience a financial decline.
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June 06, 2018, 02:34:16 PM
 #42

Quote

Senator Joe Manchin (D-W.Va.) has called for the U.S. to ban Bitcoin, and by extension all anonymous cryptocurrencies.

In an open letter addressed to U.S. regulators, obtained by Business Insider Wednesday, Manchin wrote his desire for them to "limit the abilities of this highly unstable currency." He cited the usual host of complaints about Bitcoin: that it's a favorite currency of online illegal activity and that it's completely unregulated.

His primary concern, though, is economic, and that he doesn't believe in its long-term viability. "I am most concerned that as Bitcoin is inevitably banned in other countries, Americans will be left holding the bag on a valueless currency," he wrote.

A Manchin staffer told the Daily Dot that though the letter uses the word "regulate," the senator's intent is indeed to fully ban the use of Bitcoin in American trade. And while his office didn't seem familiar with other types of cryptocurrencies, like Litecoin and Dogecoin, the staffer said that Manchin would have similar complaints about any such anonymous form of online payment.

"It's the anonymous, unregulated nature of it," that Manchin finds a problem, the staffer said.

The timing could hardly be better for a politicians who opposes Bitcoin. It's has been awash in bad press in recent days, as once-prominent exchange site Mt. Gox mysteriously shut down, amid an allegedly leaked memo that admitted it had lost hundreds of millions of users' dollars. Mt. Gox, based in Japan, was reportedly issued a U.S. subpoena in the days before it closed up shop.


http://www.dailydot.com/politics/senator-joe-manchin-bitcoin-litecoin-dogecoin-ban/

Now that he messed up his name to the community, he will never win for the next elections. He is just a close minded person.
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June 08, 2018, 11:04:07 AM
 #43

Senators have already changed their mind about the crypt world! last year, all shouted in one voice: that bitcoin is a bubble! and now the same Soros (who spoke very negatively about bitcoin) created his own investment fund in the crypto market! People change their minds! It should be taken into account that the first conjectures in bitcoin are traditional banks, including a master of cards and visas! And these leaders with big wallets have a very strong influence on the senators and on the government of America! Until there is regulation, until the crypto market gets world approval, while the crypto coins do not receive the official status of a payment facility - that's exactly until then they will negatively talk about bitcoin and manipulate the resistance of bitcoins!

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June 08, 2018, 11:15:15 AM
 #44

One of the crypto money hater, maybe someone has to change his perception of crypto money  Cry

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June 08, 2018, 11:22:32 AM
 #45

He don't know the how bitcoin works, hopefully he will change his mind soon.
ALI AKBAR
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June 08, 2018, 01:55:10 PM
 #46

If the United States prohibits the use of Bitcoin, it is the biggest cause of regret. Cryptocurrency will have a bad effect. I hope this will soon become stronger due to the ban. People will accept it more than ever.
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June 08, 2018, 02:19:37 PM
 #47

Anyone who happens to live in West Virginia, please, never vote for Joe Manchin who proved to be freedom hater.
I think he is just thinking about the safetiness of the money of the people. Not knowing bitcoin is one of the reason why people are having an efficient life.
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