Is this new or have they already been talking this?
http://m.cnet.com/news/sen-manchin-demands-complete-us-ban-on-bitcoin/57619592
http://m.cnet.com/news/sen-manchin-demands-complete-us-ban-on-bitcoin/57619592
Senator asks for ban on bitcoin
- Thread starter Vertex
- Start date
This is new from today.
One thing I've thought about is this for worst case scenario....... they can't stop the networking going on, just like torrents. I can still download movies from the internet illegally if I wanted , BUT comcast or whoever my internet provider is can see this and will send me a letter telling me that they will shut my internet off if they catch me downloading illigal crap or turn evidence over to be sued by Universal studios or whoever.
So the only way I can see the gov shutting Crypto down on a mass level is if they make it illegal completely and get charter, comcast, timewarner to shut down crypto users internet if they catch them using it or turn the evidence over to the gov.
We need net neutrality for crypto to work. the way we want it to . Meaning , the internet companies can't have monopolies on everyone and dictate what gets networked and what doesn't.
That is worst case scenario I can think up on crypto.
Good news is, there is a company right now who want to make satellites that offer free internet for everyone on earth and I am sure there are 100 other solutions to the problem as well that I don't know of.
http://rt.com/usa/outernet-cubesat-free-internet-153/
same way the senator who called internet a series of tubes was the chair for the committee on science and commerce.
Just read some of the cnbc articles/comments and posts here, vast majority of the population still have no understanding of bitcoin, it's human nature to reject what you don't understand and fear. And I would say most of the politicians nowadays are dumb as a stick when it comes to advances and new tech.
It will be a long time before any law on bitcoin are passed, but if us does outright ban it, it will spell the end for bitcoins. I doubt it will happen though, regulated yes, banned no.
https://www.change.org/petitions/manchin-joe-don-t-let-the-government-ban-bitcoin
Manchin is no lightweight. He's about as middle of the road as they come too, so it's not partisan.
This is the first shot in the governmental/regulatory war that will kill the digital currency markets.
It threatens their power too much. 95% of the power that the US Congress holds lies in their ability to pick winners and losers in regards to distributing currency that the US Treasury prints. When have you ever seen Congressmen relinquish power?
They aren't going to allow a serious threat to that power.
The bank lobbyist at work already i see
I don't think they can banned all together.
Good point. There will be a lot of lobby money thrown at these guys over the next few years. I would expect the entire finance industry will oppose BTC, so that's a ton of money to buy votes.