Is This the End of Crypto? This U.S. Congressman Hopes So...

[Ojima-ojo]

They're just stressed about changes in things they don't know anything about. But there are already those who are pro-crypto

The fact is that regulators need to set out time to go into research about cryptocurrency, bitcoin/ blockchain, and the rest of what have you, one of the most miss conceived ideologies of the current congressmen is that cryptocurrency is an attack on the economy due to the weakness of the fiat currency and this is something that needs to unravel and properly thought out so that the misconception can be put to an end.


We have a few of those congressmen who have taken off upon themselves to build the necessary knowledge about the cryptocurrency industry.

[davis196]

In a recent CNBC interview, U.S. Congressman Brad Sherman openly expressed his hope for the end of cryptocurrencies, a stance that will ruffle the feathers of crypto enthusiasts.  "I hope so, don't think so," was Sherman's succinct response when asked if the ongoing crackdown signaled the end of cryptocurrencies in America. His caustic comment follows recent regulatory actions taken by the SEC against major cryptocurrency exchanges, Binance and Coinbase. The Congressman, who is well-known for his anti-crypto stance, took issue with the idea that cryptocurrencies could benefit the economy or consumers, stating that their primary use was to evade the U.S. government and sanctions.

Read more on
U.Today https://u.today/is-this-the-end-of-crypto-this-us-congressman-hopes-so

This is yet another forum post about "Crypto hater says this and that about Bitcoin". Should we even care?
The crypto/Bitcoin haters won't go away and they won't stop hating on Bitcoin/crypto.
The fact that this guy doesn't understand why Bitcoin is more valued than "Hamster coin" only shows the doesn't understand how economy and finance works and he's completely retarded. Evading the US sanctions is actually something good. The USA is shooting itself in the foot by using it's own currency and financial system as a global weapon.

[DooMAD]

Bitcoin was banned in China but is still growing.
People should realise that USA isn't the world
It might be a temporary pause on crypto 'legally' in USA but adoption may sprang up when they find themselves lagging behind
They ain't dumb just desperate the dollar is losing its stand against crypto
This is the disadvantage of been rigid and sticking only to tradition without considering the benefit of this change
No, I believe they are aware of its impact they all been selfish and scared of losing power
This isn't the end of Crypto
One country can't destroy crypto
Miners are everywhere
Even in all this some citizens in USA would still continue

I'm glad someone said it.  Thank-you.  

It never ceases to amaze me how the US still sees itself as "leader of the free world".  That time is rapidly coming to an end.  As a Brit, I feel I'm qualified to speak about "world powers that completely lost their influence on the global stage" and it looks like the US are making nearly all the same mistakes as Britain did.  Insular, arrogant and preachy.  No one wants to listen to that shit in 2023.  Much like the UK, the US will be a political pariah soon enough. 

America needs to start showing some humility and stop acting like every random thought that enters their lawmakers heads carries anywhere near as much weight as it once did.

They lost the 'War on drugs', they lost the 'War on terror' and they'll lose the 'War on crypto', too.

[kawetsriyanto]

In a recent CNBC interview, U.S. Congressman Brad Sherman openly expressed his hope for the end of cryptocurrencies,~

Since he is an anti-crypto stance, we shouldn't be surprised to hear negative statements from him. He must spread FUDs related to the issue around Binance and Coinbase. He thinks the end of Binance and Coinbase means the end of crypto, but it is absolutely the wrong perception. There are many other top exchanges, crypto will survive even if those 2 major exchanges are shut down. People who have crypto assets on those exchanges will move their assets to other major exchanges.

Maybe they deliberately made bad news, so that they could collect at a low price. They seem to be deliberately making people too afraid of Crypto. They deliberately make the situation that crypto has a negative effect on its users.

I also think the same, those who spread FUDs may try to have an entry price as lower as possible. They expect the FUDs will make people panic and the prices to freefall because people sell their coins immediately. This scheme already happened many times, some people try to manipulate crypto market by spreading FUDs. Sadly, this scheme seems still work effectively because people are easy to feel worried.

[jrrsparkles]

In a recent CNBC interview, U.S. Congressman Brad Sherman openly expressed his hope for the end of cryptocurrencies, a stance that will ruffle the feathers of crypto enthusiasts.  "I hope so, don't think so," was Sherman's succinct response when asked if the ongoing crackdown signaled the end of cryptocurrencies in America. His caustic comment follows recent regulatory actions taken by the SEC against major cryptocurrency exchanges, Binance and Coinbase. The Congressman, who is well-known for his anti-crypto stance, took issue with the idea that cryptocurrencies could benefit the economy or consumers, stating that their primary use was to evade the U.S. government and sanctions.

Read more on
U.Today https://u.today/is-this-the-end-of-crypto-this-us-congressman-hopes-so

Let's assume US banned bitcoin (which is not gonna happen) which means it's the end of cryptocurrency? US should wake up from their dreams and US is not the entire world and it's a fact that they are on the losing side of powerful economy. China banned bitcon but people from their are still holding most of the bitcoins because they used to be the early miners.

US making a lot of money from taxing cryptocurrency and all other business regarding cryptocurrency so what could be the valid reason to ban the asset instead of who committed the crime.

[Zlantann]

In a recent CNBC interview, U.S. Congressman Brad Sherman openly expressed his hope for the end of cryptocurrencies, a stance that will ruffle the feathers of crypto enthusiasts.  "I hope so, don't think so," was Sherman's succinct response when asked if the ongoing crackdown signaled the end of cryptocurrencies in America. His caustic comment follows recent regulatory actions taken by the SEC against major cryptocurrency exchanges, Binance and Coinbase. The Congressman, who is well-known for his anti-crypto stance, took issue with the idea that cryptocurrencies could benefit the economy or consumers, stating that their primary use was to evade the U.S. government and sanctions.

Read more on
U.Today https://u.today/is-this-the-end-of-crypto-this-us-congressman-hopes-so

Everybody can express themselves the way they feel. His views have also been shared by many Bitcoin critics, some even predicted the year bitcoin will become worthless. But these sentiments and predictions have always failed and the coin keep getting stronger and stronger. To think of it, did the crackdown on Binance and Coinbase affect the Bitcoin space negatively? It didn't as they expected. So I am sure that they are arranging another strategy to attack the sector. When China banned Bitcoin, many anti-Bitcoin forces thought that the sector will get to its kneels. But the system was able to overcome the shock. If the US decide to ban Bitcoin today, the sector will still survive and recover. But it will be a big blunder to do that because it will lead to loss of revenue and jobs in the US.     

[AakZaki]

I also think the same, those who spread FUDs may try to have an entry price as lower as possible. They expect the FUDs will make people panic and the prices to freefall because people sell their coins immediately. This scheme already happened many times, some people try to manipulate crypto market by spreading FUDs. Sadly, this scheme seems still work effectively because people are easy to feel worried.

how long will this scheme be effective because many new investors are starting to enter and do not know about the previous manipulation schemes. But some people who have been in crypto for a long time are also caught up in this game that is being carried out by Whales. Just look at the impact that happened, of course people who were initially strong enough to hold on finally had to sell their ownership for fear that prices would continue to crash with various kinds of FUD being spread.

[Ale88]

In a recent CNBC interview, U.S. Congressman Brad Sherman openly expressed his hope for the end of cryptocurrencies, a stance that will ruffle the feathers of crypto enthusiasts.  "I hope so, don't think so," was Sherman's succinct response when asked if the ongoing crackdown signaled the end of cryptocurrencies in America. His caustic comment follows recent regulatory actions taken by the SEC against major cryptocurrency exchanges, Binance and Coinbase. The Congressman, who is well-known for his anti-crypto stance, took issue with the idea that cryptocurrencies could benefit the economy or consumers, stating that their primary use was to evade the U.S. government and sanctions.

Read more on
U.Today https://u.today/is-this-the-end-of-crypto-this-us-congressman-hopes-so

So you're asking if a single country could end bitcoin and the crypto world? Do you really think bitcoin needs the USA? I don't think so. China tried to do the same thing and look now what is going on with Hong Kong, endorsed by China of course. This is just (another) battle the US can't win, the sooner they understand that the better for everyone.

[lalabotax]

In a recent CNBC interview, U.S. Congressman Brad Sherman openly expressed his hope for the end of cryptocurrencies, a stance that will ruffle the feathers of crypto enthusiasts.  "I hope so, don't think so," was Sherman's succinct response when asked if the ongoing crackdown signaled the end of cryptocurrencies in America. His caustic comment follows recent regulatory actions taken by the SEC against major cryptocurrency exchanges, Binance and Coinbase.

And this will continue to be appointed as FUD which affects the market. Because in reality, many people or parties really hate cryptocurrencies and will do various things to bring them down. Currently, various regulations have been created to control crypto business activities and will try to bring them down if they go against them. SEC conditions in the US are not new anymore. continue to find fault with various parties or platforms that exist in the US. Yes, and this is very influential because people's sentiment towards news like this is very high. For us, this might be normal and even give us an advantage to make a purchase. However, there are some parties who really panic or continue to push the crypto market to get worse.
However, I'm really not sure if this is the end of crypto. Because crypto is widespread, not only in the US.

[The Cryptovator]

No, truly decentralized cryptocurrencies like Bitcoin cannot be eliminated. They will continue to exist as long as they have the support of their holders. Since Bitcoin is constantly changing hands, there will always be new holders emerging. While the US may choose to ban Bitcoin and cryptocurrencies within their country, they cannot prevent global Bitcoin trading. Therefore, the chances of cryptocurrency coming to an end are zero. Instead, it will evolve and upgrade over time.

[www.Gambler.Casino]

Anything can happen in the cryptocurrency industry. But I believe in the future growth and development of the market

[Blitzboy]

In a recent CNBC interview, U.S. Congressman Brad Sherman openly expressed his hope for the end of cryptocurrencies, a stance that will ruffle the feathers of crypto enthusiasts.  "I hope so, don't think so," was Sherman's succinct response when asked if the ongoing crackdown signaled the end of cryptocurrencies in America. His caustic comment follows recent regulatory actions taken by the SEC against major cryptocurrency exchanges, Binance and Coinbase.

And this will continue to be appointed as FUD which affects the market. Because in reality, many people or parties really hate cryptocurrencies and will do various things to bring them down. Currently, various regulations have been created to control crypto business activities and will try to bring them down if they go against them. SEC conditions in the US are not new anymore. continue to find fault with various parties or platforms that exist in the US. Yes, and this is very influential because people's sentiment towards news like this is very high. For us, this might be normal and even give us an advantage to make a purchase. However, there are some parties who really panic or continue to push the crypto market to get worse.
However, I'm really not sure if this is the end of crypto. Because crypto is widespread, not only in the US.

Your perspective isn't entirely unfounded. But remember, all revolutionary techs face hurdles. True, the SEC and alike are strict on crypto scrutiny. But, it's not just about stunting crypto growth, it's also about safeguarding investor interests and market equilibrium.

Cryptos, led by Bitcoin, are already intertwined in our financial systems. Their global footprint and decentralization make them tough to 'dismantle'. I agree, this isn't crypto's demise. It's a purifying phase leading to stronger market norms.

[justdimin]

This is yet another forum post about "Crypto hater says this and that about Bitcoin". Should we even care?
The crypto/Bitcoin haters won't go away and they won't stop hating on Bitcoin/crypto.
The fact that this guy doesn't understand why Bitcoin is more valued than "Hamster coin" only shows the doesn't understand how economy and finance works and he's completely retarded. Evading the US sanctions is actually something good. The USA is shooting itself in the foot by using it's own currency and financial system as a global weapon.

I think it doesn't matter in the sense that we should be caring about it and make a trade, but it does matter in the sense that someone that is high up there in political world ended up hating bitcoin and we should be well informed on it. Remember history class? Why would I care about the war between Rome and Carthage?

It doesn't mean that I would ever use it, but I was thought about it at school for some reason. Because so I would be well informed on the subject, being able to know a lot of things means you would be wise, the more things you know the wiser you are. This is one of those things, be aware of it, be informed on the subject, then you don't have to do something about it directly, just being aware of this news is enough.

[Bananington]

In a recent CNBC interview, U.S. Congressman Brad Sherman openly expressed his hope for the end of cryptocurrencies, a stance that will ruffle the feathers of crypto enthusiasts.  "I hope so, don't think so," was Sherman's succinct response when asked if the ongoing crackdown signaled the end of cryptocurrencies in America. His caustic comment follows recent regulatory actions taken by the SEC against major cryptocurrency exchanges, Binance and Coinbase. The Congressman, who is well-known for his anti-crypto stance, took issue with the idea that cryptocurrencies could benefit the economy or consumers, stating that their primary use was to evade the U.S. government and sanctions.

Read more on
U.Today https://u.today/is-this-the-end-of-crypto-this-us-congressman-hopes-so

Still on same issues of control. Guess what, crypto is more than what US agrees on or not. We control USD, now look what's happening all over the world and the unification of most major countries to adopt Yeun as trade currency.
It won't stop crypto adoption and use even if we ban it. The congressman is echoing what the government wants to hear from him.
It is people like this that would have a secret stash of satoshis stored somewhere or have investment and assets on a decentralized network where same government can't track.

Ignore the bullshit news because cryptocurrency is here to stay and is the future of Web3, commerce and innovation.

[KiaKia]

If you can't beat them, your only option left is to join them, this is what the government have left as an option, and that's why want to be in control of centralized exchange, that's why they bring up a so-called more reliable centralized exchanges and only fools will believe them and they will be able to monitor your money and your every move.

I think this is also the reason why Bitcoin ETF will be approved this time around, if you can think about it very well you will see it makes sense, all what the SEC wanted is power and involvement in crypto, through them, people should purchase assets instead of other exchanges.

[Hamza2424]

In a recent CNBC interview, U.S. Congressman Brad Sherman openly expressed his hope for the end of cryptocurrencies, a stance that will ruffle the feathers of crypto enthusiasts.  "I hope so, don't think so," was Sherman's succinct response when asked if the ongoing crackdown signaled the end of cryptocurrencies in America. His caustic comment follows recent regulatory actions taken by the SEC against major cryptocurrency exchanges, Binance and Coinbase. The Congressman, who is well-known for his anti-crypto stance, took issue with the idea that cryptocurrencies could benefit the economy or consumers, stating that their primary use was to evade the U.S. government and sanctions.

Read more on
U.Today https://u.today/is-this-the-end-of-crypto-this-us-congressman-hopes-so

Hmm, I do agree with the statement pretty much on the spot but dear if you have already controlled the emotions of fear last week, according to the current market conditions and market developments you can clearly watch out for a completely different view. the market crackdown has now vanished even now the federal institutes are hopeful to lunch a training platform and they are more interested in the crypto market's stablecoins. A trend of ETF applications is leading the market to a new end. I have some concerns about it as well, for now, forget to abut it enjoy the market greenery. 

[BenCodie]

He said that he hopes so and does not think so....your title is misleading. He didn't say "I don't think so, I know so" which would imply that he knows something that will severely effect bitcoin/crypto.

Who cares about this one guy anyway? Bitcoin and crypto are way beyond being influenced by a singular individual/politicians hopes. Even if the US firms didn't take their recent support stance, it would make no difference in the long term.