Senator asks for ban on bitcoin

[CenFlo]

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.

While I do see your point here, unless they outlaw it altogether, they'll have to (somewhat) embrace it and move to/try to regulate it.

So far the whole Mt. Gox debacle has shown that BTC can survive the first shot across the bow of the leading digital currency and bounce back after extreme volatility.

We've been moving towards a cashless society for a long time, but there are to many people who still feel uneasy with only electronic $$.

Isn't one of the signs of the NWO a uniform and global currency?

 

[Zr1Trader]

The smart senators would put a DONATE BITCOIN button on their websites

Do you know how many donations Rand Paul would get if he did this.

Letter from Rand Paul supporter on Jan 23 telling him to accept bitcoin donations.

https://medium.com/p/932bb6c3ea5

 

[Hoi]

And the answer of Yellen is:
http://www.businessinsider.com/yellen-on-bitcoin-2014-2

 

[clacy]

And the answer of Yellen is:
http://www.businessinsider.com/yellen-on-bitcoin-2014-2

Basically she said "I don't have the authority to act, but you do".

Frankly, you would rather have the Fed step in than Congress. Much cooler heads at the Fed, with less of an obsession with power.

 

[Hoi]

And here the official response of the "Bitcoin Foundation":
http://www.coindesk.com/bitcoin-foundation-senator-us-shouldnt-turn-away-innovation/

 

[Pekelo]

I don't get why bitcoiners have such a hard time to understand simple banning???

they can't stop the networking going on,

That is not the point. As long as no retailers can use it as a legal payment form, who care if you and little johnny can trade it between each other? no banks can let you do business with bitcoin companies in other countries and such. Baaammm, bitcoin is dead as currency....

And if some bitcoin crime happens, don't go running to the authorities for help, it is the same as someone steals your heroin....

Capisce now???

 

[Bac0n]

The crypto currency community need to send letters to this senator
until he choke.

 

[Hoi]

I don't get why bitcoiners have such a hard time to understand simple banning???

That is not the point. As long as no retailers can use it as a legal payment form, who care if you and little johnny can trade it between each other? no banks can let you do business with bitcoin companies in other countries and such. Baaammm, bitcoin is dead as currency....

Not quite....

It would be great to have governments who support Innovation (that will make Bitcoin Mainsteam). But if not, then it will prosper just as fine: the black-economies are multi trillion markets as well...
But if I may choose: please take the legal and regulated route!

 

[newguy05]

I have backed my opinion with a real position, have you?If you are so knowledgeable that it's going down to near zero then why wouldn't you be exploiting the opportunity?

Ask pekelo to trade his own drivels? haha good one. The only thing this guy does is paste links and make "predictions" with gems like - bitcoin is worthless because anyone can just create another version.

He's probably the most active poster in the bitcoin section even though he's against it and never have a position in either direction.

 

[clacy]

I have backed my opinion with a real position, have you? Talk is cheap. If you are so knowledgeable that it's going down to near zero then why wouldn't you be exploiting the opportunity like a true free market capitalist?

Your or Pekelo's opinion doesn't really matter on the price and where it will end up.

"Backing up" investment thoughts on speculative assets results in losses more times than wins.

Also, I sense that most BTC investors are letting their political beliefs weigh far too heavily on their decision to invest.

It rarely works out when you let politics shape your trading decisions.

How many republicans have missed out on huge stock gains since 2009 because they hate Obama and were sure he would destroy the economy?

I feel like a lot of BTC investors are very libertarian leaning and tend to think printing is going to destroy the $USD any day now.