Senator asks for ban on bitcoin

[Hoi]

"At the very least, we can say bitcoin is not a currency."

Legally speaking in Japan...

Wow... that's news !! (sarcastic)

If you have followed all statements around the world of every Central Bank: then they all say: it's not a currency (just because by law there is only one currency which has to be accepted by every one in that country).
But nearly every country also has laws that other means of payment may be accepted (Barter systems are very Legal) if both parties agree... and in this context falls Bitcoin, and is why it cannot be banned by existing Laws, in those specific countries.

 

[Scataphagos]

How can a senator ask for a ban on something he never understood to begin with?

Same way they voted for Odumbocare.

 

[Scataphagos]

One thing is for sure : cash money WILL disappear and all transactions will become electronic, sooner or later.

The New World Order "elite" will make sure of that.

HOGWASH!

"Cash money"... depending upon whether denominated in metals or paper... will ALWAYS be around. Just as there are those who do not trust paper money, there are those who will NEVER trust digital currencies... Bitcoin, a prime example of why.

 

[xelite777]

HOGWASH!

"Cash money"... depending upon whether denominated in metals or paper... will ALWAYS be around. Just as there are those who do not trust paper money, there are those who will NEVER trust digital currencies... Bitcoin, a prime example of why.

You don't get it: cash money will disappear, period!

And people around the globe will be forced to accept the new digital "global currency" or they will starve to death, simple as that.

The New World Order "elite" wants a cashless society for a (sinister) reason that has absolutely nothing to do with stopping counterfeit currency, tracking illegal activities and all that bullshit they will use (and are using) to justify the creation of a global digital currency....

 

[Hoi]

... after 1 month, that senator is already backing off:

http://www.washingtonpost.com/blogs...in-wanted-to-ban-bitcoin-now-hes-not-so-sure/

 

[Pekelo]

So why is the price tanking? From almost 600 to lower 500???

 

[Hoi]

So why is the price tanking? From almost 600 to lower 500???

Don't know, but as a Miner myself, I like it (this way I don't have to pay much income-tax for 2014 ) .

 

[newguy05]

Don't know, but as a Miner myself, I like it (this way I don't have to pay much income-tax for 2014 ) .

lol that's a bit weak.

price is tanking because of china scare, even if it was a false rumor.

 

[Pekelo]

Well, there was a supposedly fake Chinese news that it will be illegal in China (or they make it very hard to deal with it) but if it was false, why the price hasn't recovered yet?

LTC is taking an even worse beating. Oh yeah and this:

'Reddit CEO Yishan Wang: " the userbase for bitcoin is basically crazy libertarians who are increasingly poorly-informed about currency systems and macroeconomics"

 

[StarDust9182]

How can a senator ask for a ban on something he never understood to begin with?

.... and there is no truth to the rumor (yet) that those who mine bitcoins are asking for a ban on senators!

My guess is that the biggest issue is the shadow banking system. With research I am still not able to quantify the threat to the worldwide banking system it poses. An alternative currency is a threat but an alternative banking system is worse for those that run the current political systems. Economics and politics are closely aligned I suspect.