Why many USA senator against bitcoin?

[Coyster]

Some said using bitcoin as payments instead of US dollars will demolish the sanction power of the USA towards other countries. Do they fear bitcoin for losing control over the world economy or do they know the adoption of bitcoin will diminish the unchallenged sovereignty of USD?

I have said this a couple of times already, but i do not mind reiterating at all, i think the problem all stems from Bitcoin being decentralized, of course it is expected that a 'centralized' government will be indifferent to a decentralized network, i am afraid it is not just the U.S., but many other countries out there as well do not at all appreciate the idea of Bitcoin.

I mean, having many more people be their own banks is a worry for the government, they want to continue printing more more, causing inflation and launching CBDC's to deceive people that it actually works like Bitcoin. Having said that it does not really matter how many government officials are against Bitcoin, the thing is that sooner or later as inflation continues to rise, more people would understand the importance/benefit of financial freedom Bitcoin offers, and hence more adoption notwithstanding bans/regulations and sanctions from numerous governments.

[qwertyup23]

We have seen there are miscellaneous reactions about bitcoin among US senators. On one side Colorado Governor Jared Schutz Polis announced that "his state will begin accepting Bitcoin for tax payments starting this summer" on the other hand Senators Jim Risch, Bill Cassidy, and Bob Mendez look aggressive against any step towards bitcoin implementations.

Some said using bitcoin as payments instead of US dollars will demolish the sanction power of the USA towards other countries. Do they fear bitcoin for losing control over the world economy or do they know the adoption of bitcoin will diminish the unchallenged sovereignty of USD?

I think it has something to do with financial freedom and control. With the transaction of BTCs involving anonymity, the government will lose control over its transactions especially on the fact of the nature/origin of the funds. I guess they really want to avoid any transactions that will compromise their country's security.

Overall, I do also feel that the positive effects of transacting BTCs outweigh the negative effects of it on the market. Its potential and opportunities is just too good to be slept on and to be ignored by the government- I just hope they find that sweet spot and compromise to at least implement it into their transactions.

[paxmao]

We have seen there are miscellaneous reactions about bitcoin among US senators. On one side Colorado Governor Jared Schutz Polis announced that "his state will begin accepting Bitcoin for tax payments starting this summer" on the other hand Senators Jim Risch, Bill Cassidy, and Bob Mendez look aggressive against any step towards bitcoin implementations.

Some said using bitcoin as payments instead of US dollars will demolish the sanction power of the USA towards other countries. Do they fear bitcoin for losing control over the world economy or do they know the adoption of bitcoin will diminish the unchallenged sovereignty of USD?

Perhaps they have interest that are in opposition to the aims of bitcoin. For example they may be in the boards of banks or their lobbies that pay for the campaigns and supply them with information and means to win election may be linked to the banking or the traditional investment sector. There is not much more that I can think of, unless they have been victims of scams and now think everything in crypto is bad.

[ultrloa]

We have seen there are miscellaneous reactions about bitcoin among US senators. On one side Colorado Governor Jared Schutz Polis announced that "his state will begin accepting Bitcoin for tax payments starting this summer" on the other hand Senators Jim Risch, Bill Cassidy, and Bob Mendez look aggressive against any step towards bitcoin implementations.

Some said using bitcoin as payments instead of US dollars will demolish the sanction power of the USA towards other countries. Do they fear bitcoin for losing control over the world economy or do they know the adoption of bitcoin will diminish the unchallenged sovereignty of USD?

Old man prefer old methods so expect that this new technology on financing system will not be good to them since they cannot relate on it and maybe they always look at its downside. Maybe in next batch of US senator if they elect new generation one maybe we can see a open minded people dealing up with new economic changes. For now for sure we can see majority of them prefer fiat over anything else in the world.

[el kaka22]

I would guess that there are too many of them leveraged their investments against bitcoins success, that could be a big reason. Not that they would short it or anything like that but they just invested heavily on stocks and finance world and if bitcoin goes up then there would be less need for those companies and their stock value would go down which will make these senators lose money. Remember, senators do not work for the people, they work for their own greed, and whatever makes the more money will be the thing they will defend, it has always been like that.

We have seen plenty of senators who talk to public about being against X and then go back and buy X stocks and vote in favor of it. So, do not consider their stance as some altruist good thing to protect people, it is all about their own money.

[JohnBitCo]

Because they're old and they are still stuck in 60s where they're still young and they still don't feel any ache in their joints and that they came from a generation that think that they're the best generation and that they believe that we've peaked and they don't like new technology as they deem it blasphemous to their beliefs. I think that's the only reason for why the US senators heavily oppose bitcoin, other than being lobbied by banks.

I think it's not that simple. These old senators may be technologically not that advanced but they are not dumb either. They know how fed increase the money supply from thin air and manipulate the economy by controlling USD. If bitcoin took the place of USD then they will lose control because anyone can protect the bitcoin network by running a full node. They just don't want to hand over the control of the economy to people.

This is very much true and it is not only limited to the senators of the US but everyone in the government sector round the world hates and want to disallow Bitcoin usage across the country.
If bitcoin becomes the mainstream currency then these people will not be able to manipulate the money and they will not be able to make free money due to the paper money free printing.

[evilgreed]

               Probably both. I wouldn't be surprised if even politicians that are on different or opposite political parties maks the same stand owards bitcoin and the entire crypto industry since they all want control not just in their own country but also on the other countries as well. The influence of the USD is vital not just for the country schemes but also for personal ones. Also, there maybe other politicians that only go against bitcoin due to not being able to understand it fully. Bottom line is that bitcoin will have a hard time becoming legal in the US. In fact, it may even be entirely impossible.

[Leviathan.007]

Some said using bitcoin as payments instead of US dollars will demolish the sanction power of the USA towards other countries. Do they fear bitcoin for losing control over the world economy or do they know the adoption of bitcoin will diminish the unchallenged sovereignty of USD?

They should fear bitcoin and bitcoin power, not just the senators but all the political men who care about USD and their traditional currency are worried about bitcoin because bitcoin came to become borderless and global they all want to have their own currency (USD) to be more often used by in the world by all the people who use online shops and many in many other platforms while demanding bitcoin can be scary for them in this situation.

[ven7net]

We have seen there are miscellaneous reactions about bitcoin among US senators. On one side Colorado Governor Jared Schutz Polis announced that "his state will begin accepting Bitcoin for tax payments starting this summer" on the other hand Senators Jim Risch, Bill Cassidy, and Bob Mendez look aggressive against any step towards bitcoin implementations.

Some said using bitcoin as payments instead of US dollars will demolish the sanction power of the USA towards other countries. Do they fear bitcoin for losing control over the world economy or do they know the adoption of bitcoin will diminish the unchallenged sovereignty of USD?

I believe that Bitcoin is a tool for obtaining money and influence of a separate force in the USA. The fact that some US senators are against BTC just confirms this. It is likely that there are already at least three forces in the United States, each of which wants to rule the country. On the one hand, these are bankers, who are one of the first and main forces in the United States, followed by patriotic industrialists, and, well, digital people. Bitcoin seems to be an instrument of one of these forces, which is why there is some competition about the acceptance and non-acceptance of BTC in the US. Of course, everything is possible not so, and everything is completely different, so this is just my version of what is happening.

[Cling18]

Some said using bitcoin as payments instead of US dollars will demolish the sanction power of the USA towards other countries. Do they fear bitcoin for losing control over the world economy or do they know the adoption of bitcoin will diminish the unchallenged sovereignty of USD?

They should fear bitcoin and bitcoin power, not just the senators but all the political men who care about USD and their traditional currency are worried about bitcoin because bitcoin came to become borderless and global they all want to have their currency (USD) to be more often used by in the world by all the people who use online shops and many in many other platforms while demanding bitcoin can be scary for them in this situation.

The main reason is they couldn't control or even use their power over Bitcoin. Just like banks, they also see it as a threat. The government always wants to rule and control the economy and country's currency so Bitcoin as a decentralized currency could only hinder it. However, despite their fear of Bitcoin, lots of US citizens are still adopting it and using it as a currency which I believe could develop more in the future.

[doomloop]

Fear of the unknown or fear of losing money straight in their pockets.
I don't see why they are so against it while Bitcoin had been valued for years. People will buy it and it's still their money which is going to be used for that purchase. The other concern I see is why do they allow digital payments which are also prone to be corrupted just showing numbers with nothing to back it up and they cost fees that makes you think about just going straight in the payment center rather than use their services.

Just like someone pointed out, most of these guys that are senators are old people and they still believe in the old ways of doing things. For you to convince them is going to be really difficult because of how they were brought up and some of them find it difficult to understand the things of this era. So, it’s really quite difficult and they wouldn’t really get it.

But, there are still some of them who do understand it, and they are smart enough to catch up with the advancement in technology and all that. But the good thing is that Bitcoin will still keep circulating and the world will keep on accepting it, and when it gets to the extent where those who are opposing it are no longer able to oppose it, and they don’t stand a chance any longer, they would have no other option than to accept it.

[macson]

Bitcoin boosters Cynthia Lummis and Pat Toomey are the only two senators invested in crypto

https://markets.businessinsider.com/news/currencies/cynthia-lummis-pat-toomey-bitcoin-booster-senators-invested-in-crypto-2021-12

i don't know how many senators in the US because i don't really follow news about US but it's very clear, not all ^{(senators in the US)} are against Bitcoin, there is still hope for Bitcoin to be accepted there in the future.  let's stay optimistic about Bitcoin acceptance in US.

[dezoel]

Uuhm you are right they would all have their own different reasons why they are afraid of accepting Bitcoin. It’s possible that some of them would be afraid that Bitcoin is going to replace the USD, so they are now fighting against it cause of what they believe would happen if they should give it a chance.
While for some of them is also possible that they don’t really have any good reason at all and they just simply think that Bitcoin is a scam, so they just don’t want it because they feel it is not right for it to be accepted.

For now, Bitcoin is still newcomer so it’s definitely going to take time for a lot of people to understand it and also it's going to take time for it to create a balance and be able to be accepted. So it’s just a matter of time.

[Oshosondy]

We have seen there are miscellaneous reactions about bitcoin among US senators. On one side Colorado Governor Jared Schutz Polis announced that "his state will begin accepting Bitcoin for tax payments starting this summer" on the other hand Senators Jim Risch, Bill Cassidy, and Bob Mendez look aggressive against any step towards bitcoin implementations.

You said senators, there are many senators in United States, they can not have the same opinion, some senators will favor this while some will not, I do not see this surprising for few people to against something out of many.

Some said using bitcoin as payments instead of US dollars will demolish the sanction power of the USA towards other countries. Do they fear bitcoin for losing control over the world economy or do they know the adoption of bitcoin will diminish the unchallenged sovereignty of USD?

It is a very good reason, I do not know how it is connected but I know using USD will give some power to US and is a means of having more control. But this should be looked into and known if it is good or not before making any proceed. What I am most after is for a country to be friendly with bitcoin and US is bitcoin friendly.

[Japinat]

Uuhm you are right they would all have their own different reasons why they are afraid of accepting Bitcoin. It’s possible that some of them would be afraid that Bitcoin is going to replace the USD, so they are now fighting against it cause of what they believe would happen if they should give it a chance.
While for some of them is also possible that they don’t really have any good reason at all and they just simply think that Bitcoin is a scam, so they just don’t want it because they feel it is not right for it to be accepted.

For now, Bitcoin is still newcomer so it’s definitely going to take time for a lot of people to understand it and also it's going to take time for it to create a balance and be able to be accepted. So it’s just a matter of time.

Whatever new or alien in a country will definitely be not accepted in the first place especially if its going to ruin the reputation of their own official currency. That is on how they look bitcoin as they think it would bring threat and maybe replace their US currency.  But bitcoin does not compete with dollar. Its only here as a great asset or investment, and a good currency that will be a good alternative for US dollar. But those senators are seeing more negativity on bitcoin as it would help more scamming activities to be more possible with the use of bitcoin.

[Botnake]

Bitcoin boosters Cynthia Lummis and Pat Toomey are the only two senators invested in crypto

https://markets.businessinsider.com/news/currencies/cynthia-lummis-pat-toomey-bitcoin-booster-senators-invested-in-crypto-2021-12

i don't know how many senators in the US because i don't really follow news about US but it's very clear, not all ^{(senators in the US)} are against Bitcoin, there is still hope for Bitcoin to be accepted there in the future.  let's stay optimistic about Bitcoin acceptance in US.

Definitely not all of them as some have accepted that bitcoin is a good option to be a good alternative for US dollar, but of course they cannot say it all because that would mean they will be against with what the government believes. I also think that some are already engaged in bitcoin investments and they only do it secretly knowing that majority of them are still against bitcoin. But i think there will still be positive changes in the latter part, as bitcoin is still working to make it more viable as an alternative to US dollar.

[carlfebz2]

Uuhm you are right they would all have their own different reasons why they are afraid of accepting Bitcoin. It’s possible that some of them would be afraid that Bitcoin is going to replace the USD, so they are now fighting against it cause of what they believe would happen if they should give it a chance.
While for some of them is also possible that they don’t really have any good reason at all and they just simply think that Bitcoin is a scam, so they just don’t want it because they feel it is not right for it to be accepted.

For now, Bitcoin is still newcomer so it’s definitely going to take time for a lot of people to understand it and also it's going to take time for it to create a balance and be able to be accepted. So it’s just a matter of time.

Whatever new or alien in a country will definitely be not accepted in the first place especially if its going to ruin the reputation of their own official currency. That is on how they look bitcoin as they think it would bring threat and maybe replace their US currency.  But bitcoin does not compete with dollar. Its only here as a great asset or investment, and a good currency that will be a good alternative for US dollar. But those senators are seeing more negativity on bitcoin as it would help more scamming activities to be more possible with the use of bitcoin.

Every country would be really that minding off about their own main currency and it is really not surprising that each government would really be looking bad about bitcoins existence even though some of them would be

that considerate on adopting but doesnt mean that they would be allowing it to move freely or something that they wouldnt tend to spot or observe on.So its better not to make yourself get surprised

because these would really be a typical kind of reaction or actions against on something which couldnt be controlled.

[wheelz1200]

We have seen there are miscellaneous reactions about bitcoin among US senators. On one side Colorado Governor Jared Schutz Polis announced that "his state will begin accepting Bitcoin for tax payments starting this summer" on the other hand Senators Jim Risch, Bill Cassidy, and Bob Mendez look aggressive against any step towards bitcoin implementations.

Some said using bitcoin as payments instead of US dollars will demolish the sanction power of the USA towards other countries. Do they fear bitcoin for losing control over the world economy or do they know the adoption of bitcoin will diminish the unchallenged sovereignty of USD?

The US dollar is the world reserve financial instrument and yes they fear bitcoin.  It's fair though, most people fear what they don't understand.  With all the dumb stories about it being a criminally used instrument they dont trust it.  And if they don't have any and the people that do become the new 1% that leaves them in the company of regular people like us again lol.

[freedomgo]

We have seen there are miscellaneous reactions about bitcoin among US senators. On one side Colorado Governor Jared Schutz Polis announced that "his state will begin accepting Bitcoin for tax payments starting this summer" on the other hand Senators Jim Risch, Bill Cassidy, and Bob Mendez look aggressive against any step towards bitcoin implementations.

Some said using bitcoin as payments instead of US dollars will demolish the sanction power of the USA towards other countries. Do they fear bitcoin for losing control over the world economy or do they know the adoption of bitcoin will diminish the unchallenged sovereignty of USD?

The US dollar is the world reserve financial instrument and yes they fear bitcoin.  It's fair though, most people fear what they don't understand.  With all the dumb stories about it being a criminally used instrument they dont trust it.  And if they don't have any and the people that do become the new 1% that leaves them in the company of regular people like us again lol.

But we can't conclude that all US senators are thinking the same way. Some have wider knowledge on bitcoin that made them think that they don't have to fear bitcoin as it won't be replacing their legal currency anyway. While most of the senators have negative critics towards bitcoin and they only believe from one sided stories, not even open on how positive bitcoin will be in the future.

[wxa7115]

We have seen there are miscellaneous reactions about bitcoin among US senators. On one side Colorado Governor Jared Schutz Polis announced that "his state will begin accepting Bitcoin for tax payments starting this summer" on the other hand Senators Jim Risch, Bill Cassidy, and Bob Mendez look aggressive against any step towards bitcoin implementations.

Some said using bitcoin as payments instead of US dollars will demolish the sanction power of the USA towards other countries. Do they fear bitcoin for losing control over the world economy or do they know the adoption of bitcoin will diminish the unchallenged sovereignty of USD?

There are many reasons for this, but in fact one of the most simple is their age, in most countries there is a minimum age needed to become a Senator, which means that most of them are old, and as we know there is a generational breach that sometimes is impossible to overcome.

So while for a young person something like bitcoin is something they can easily accept, as their lives are more and more digital, this is not as easy for those of the previous generations, and as such they have problems accepting a form of money that is impossible to touch with their hands.