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Topic: Why many USA senator against bitcoin? - page 3. (Read 429 times)

legendary
Activity: 2912
Merit: 6403
Blackjack.fun
February 17, 2022, 10:02:27 AM
#8
Even the US government does hold a fine contribution of Bitcoins, they have seized millions of dollars worth bitcoins which generally goes in auctions or stays with the government.

Do you actually have a link for this?
I've never heard of the US government ever storing bitcoins, all those that are confiscated go through auctions with the USMS.

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.

Just a heads up, Gavin was born in 66 and Finney in 56  Wink

Anyhow, it would be weirder not to have anyone against it, then it would definitely mean something suspicious is happening.
Normally people can't agree to compete on everything, even if we talk about husband and wife  (incoming flying frying pan if somebody reads this)  Grin so it's pretty normal to have different opinions on the economy, currency, and everything else.
legendary
Activity: 3234
Merit: 5637
Blackjack.fun-Free Raffle-Join&Win $50🎲
February 17, 2022, 09:49:53 AM
#7
Why did you limit yourself to senators, what about congressmens? It is quite logical to me that they all have something against Bitcoin, they represent the interests of banks and a system that is completely centralized - so I guess they will not cut the branch on which they sit.

I think the elite in the US as well as their political brothers around the world are more afraid of stablecoins than Bitcoin which has max supply. Not only does Bitcoin have a max supply, but it also uses POW which is the perfect way to make the whole thing legitimate and transparent, despite the lie that it consumes enormous amounts of energy. On the other hand, stablecoins are printed (digitally) with the promise of being backed with something, and we know that those who do this are repeatedly caught in the lie that their stablecoin is not backed with anything.

Back in 2019, US Congressman Brad Sherman said "Bitcoin is a small baby here" referring to the Libra project, so it is quite clear what they are more afraid of, despite the fact that some speak negatively about Bitcoin.
hero member
Activity: 907
Merit: 500
February 17, 2022, 09:44:18 AM
#6
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?
It is the matter of time. With time they may change their position for crypto. I also heard that they are starting their digital dollar which will be used for the country. It looks like they are now on the way to accept crypto they are on the way to plan that what to do. They will either accept bitcoin or they will create their own currency which will be static with the price of dollar.
mk4
legendary
Activity: 2870
Merit: 3873
Paldo.io 🤖
February 17, 2022, 09:36:13 AM
#5
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?

Either, or both. It just makes sense for them to try their best to maintain the strength of the USD — as having control over the money is definitely one effective way of controlling the people one way or another. Lose access to the money printer? Most definitely would end up with them having far less capital for military and such.
sr. member
Activity: 1666
Merit: 426
February 17, 2022, 08:23:58 AM
#4
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.
hero member
Activity: 3052
Merit: 651
February 17, 2022, 08:22:15 AM
#3
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.
hero member
Activity: 1890
Merit: 831
February 17, 2022, 08:09:25 AM
#2
There are very different mindsets of people, all of them have their own individuality therefore one cannot really specify their reason of having such reaction but at the end of the day they can definately be more sensible. Right now most major countries are accepting bitcoins and other cryptocurrencies, even making mining legal therefore, at the end I do think eventually they would vote to take a stand against bitcoins and other cryptocurrencies. Even the US government does hold a fine contribution of Bitcoins, they have seized millions of dollars worth bitcoins which generally goes in auctions or stays with the government. Plus they are not planning to ban bitcoins anytime soon. Tax payments can be acceptable in any form of payment methods but what's so different with Bitcoins is, that it would make everything trackable. People would be able to see where their money goes and therefore it can be a great idea to ward off corruption.
hero member
Activity: 1498
Merit: 537
February 17, 2022, 07:01:20 AM
#1
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?
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