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Senator Demands Complete U.S. Ban On Bitcoin
- Thread starter HardOCP News
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TechLarry
RIP [H] Brother - June 1, 2022
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I agree, and I think it has the life expectancy of a Yugo.
Bitcoins are disruptive to the economy? I'm pretty sure that some of these senators probably cause more damage through their blatant incompetence and greed. 
I lol'd.
And the stock markets and companies who participate in them are HEAVILY monitored and regulated
I lol'd.
A decentralized currency needs decentralized exchanges; definite weakness.... but already has bounced back. Haters gonna hate
How to tell of your money is imaginary:
1- Can you sell $5m worth of it with a mouse click and have the trade settle in a few days with 100% guarantee that you will get your money? No?
2- Do you need to wait in a "queue" to sell? Yes?
3- Do you need to meet a guy in a parking lot to sell? Does the check always bounce? Yes?
4- Can you pay your bills to a utility? Buy a car? Pay your mortgage? No?
Then your money is pretend money. The value is an illusion.
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Deleted whining member 223597
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How do you know somebody is uninformed:
They have no idea what they are talking about, have not researched anything and just say random crap.
They have no idea what they are talking about, have not researched anything and just say random crap.
Astral Abyss
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Congress has no authority to ban Bitcoins, but they can pretty much regulate it however they see fit. It's a basic Constitutional power.
I knew that something this stupid just had to come from a Democrat... Those narcissistic throwbacks in Congress want to *ban* everything and anything which they a) don't agree with, and/or b) don't understand. When US banks started failing all over the country a few years ago, did he advocate banning banks or the dollar as being "too disruptive to our economy"? I don't think so...and yet this Bitcoin mess is a drop in the ocean comparatively. Last I checked, Bitcoin exchanges are not Federally insured, and everybody involved with one knows that, of course. Government is on the hook for $0.00. So *what* is the guy worried about? (Assuming he's worried and not just trying to raise his public profile in the media.)
US Democratic Politician in 2014: Equal Opportunity Hypocrite and Dumbbell. "We are either utterly hypocritical or else stupid beyond belief, so 'What's not to Like? A vote for any national Democrat is a vote that will be Progressive, all right--progressively backwards, for sure!"--Al Franken, would-be comedian on Saturday Night Live long before his latest running comedy in Congress. (IIRC, the line won him vigorous applause at the time!)
Those narcissistic throwbacks in Congress want to *ban* everything and anything which they a) don't agree with, and/or b) don't understand. When US banks started failing all over the country a few years ago, did he advocate banning banks or the dollar as being "too disruptive to our economy"? I don't think so...and yet this Bitcoin mess is a drop in the ocean comparatively. Last I checked, Bitcoin exchanges are not Federally insured, and everybody involved with one knows that, of course. Government is on the hook for $0.00. So *what* is the guy worried about? (Assuming he's worried and not just trying to raise his public profile in the media.)US Democratic Politician in 2014: Equal Opportunity Hypocrite and Dumbbell. "We are either utterly hypocritical or else stupid beyond belief, so 'What's not to Like? A vote for any national Democrat is a vote that will be Progressive, all right--progressively backwards, for sure!"--Al Franken, would-be comedian on Saturday Night Live long before his latest running comedy in Congress. (IIRC, the line won him vigorous applause at the time!)
I knew that something this stupid just had to come from a Democrat...
US Democratic Politician in 2014: Equal Opportunity Hypocrite and Dumbbell. "We are either utterly hypocritical or else stupid beyond belief, so 'What's not to Like? A vote for any national Democrat is a vote that will be Progressive, all right--progressively backwards, for sure!"--Al Franken, would-be comedian on Saturday Night Live long before his latest running comedy in Congress. (IIRC, the line won him vigorous applause at the time!)
Manchin is a pathetic fucking joke who only gets re-elected by flooding his state with "I'm conservative" bullshit before elections. Sadly, WV is filled with low-information voters.
buttons
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not true at all. my 560 TI gets 161kh and my 580 gtx was getting 264kh before i traded them for 3 AMD cards and some cash. Lets put bitcoin into perspective. Total market cap of bitcoin and all of its altcoins is less then $10,000,000,000. Facebook just bought some whatsapp, I have never even heard of for $19,000,000,000
A single company bought something ive never even heard of, for TWICE as much as the total investments of cryptocurrencies. Bitcoin is not even a drop in the bucket.
MrGuvernment
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someone did buy a BMW X5 with their bitcoins and people have bought houses....
Sturmangriff
Limp Gawd
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I would think Washington would embrace Bitcoin. What better way to get bribes and pay for hookers and blow...
Semantics
2[H]4U
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sodemy is illegal in some US states, but then again so is living as male and female without being married, as you're living immorally woot archaic laws passed by dead white men.
Semantics
2[H]4U
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A male and female living together without being married, awkward wording, this i know is illegal in virginia because it's used as a way to kick people out of apartments when shitty landlords don't like shitty tenets.
CreepyUncleGoogle
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Did they do that with bitcoins or were they converted to some other money first? If they were converted, then someone didn't actually buy those things with their bitcoins.
Allowable Racism.
Semantics
2[H]4U
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Hey considering that anti-cohabitation laws were often used to target the poor and not white, racism is applicable. Which is why all the former confederate states at one time or another had such laws on the books. Should i also point out that all former confederate states are also right to work states. There is a history between right to work and racism as well.
Cerulean
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I Demand Complete U.S. Ban On Senator Joe Manchin of West Virginia
jojo69
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Manchin, Manchin, where have I heard that name before?...oh yeah
Manchin-Toomey
banhappy, that's what he is
Manchin-Toomey
banhappy, that's what he is
It's makes about as much sense as any fiat currency .. IE: the euro and US dollar. You realize that our money (assuming you're in the states) is no more "real" as a bitcoin. It's all made up, backed by a promise of magical rainbows, and manipulated in many ways. Once we dropped the gold standard, we moved into magical money. There's a great documentary about the Federal Reserve and how Greenspan royally f-ed us through some of his policies.
https://www.youtube.com/watch?v=Lx9zgZCMqXE&list=WL666C180C5D0B4D6B
Or if you have more time, watch this guys lectures:
https://www.youtube.com/watch?v=Cs6F91dFYCs&list=WL666C180C5D0B4D6B
The government is afraid of BitCoin because it takes away the power that their backers (see campaigns) give them. BitCoin, especially newer versions being worked on, can completely eliminate the need for banks, brokers, and the financial powers.
Btw, the Federal Reserve documentary is called "Money for Nothing".
All they have to do is ban any crypto-currency, and it's over. I'm sure I don't know how it even got this far.
Now I understand why nobody has drugs or fights over their profits, because the government banned them!
Not very promising.
My Yugo was more reliable then my K-car, Crown Vic, and Olds 88 from the same era. In fact, I put 90K additional miles on that Yugo with no mechanical breakdowns and just regular maintenance.
nvgrim
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Someone bought a lambo with BTC also a tesla.
Red Squirrel
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I'm not surprised at all, I knew it was a matter of time till they ban or try to ban it. We all know it will eventually happen. The government does not like things they can't easily control.
My argument against bitcoin is this right here.. though the zealots always say it will prevail... I doubt it.. but regardless this is the central conflict. TPTB are too entrenched to allow a competing currency that they cant control... so have fun while they let you have it.. eventually this will end because of the power it represents.
CreepyUncleGoogle
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Sheep and an electric car...lol! Sounds like a book written for that Blade Runner movie. Anyway, did this someone convert the bitcoins to another system of money or buy their stuff directly using bitcoins? If it wasn't done with bitcoins directly, the animal and the car weren't bought with bitcoins, but with some other money.
Oh and while I'm at it..."someone" bought a blue moon, purple horseshoes, red balloons, green diamonds, and a rainbow with BTC, but that someone converted them to an existing kind of currency before making a purchase so it was totally not done with bitcoins, but we're gonna miss that point completely and just say "someone" bought something else now that is supposed to be expensive, like a camel or a Learjet.
FTFY. Also, you're off topic.
Lunas
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He moves to ban bitcoin in america
Pulls out red laser blasts him yelling commie mutant trator.(for the NSA I am quoting a line from a really old pen and paper game called paranoia BTW you don't have clearance citizen zzit reactor shielding hail mighty computer)
He sites other nations did we should too let's look at those nations Thailand China and south Korea. Awful lot of red I'm seeing there....
Pulls out red laser blasts him yelling commie mutant trator.(for the NSA I am quoting a line from a really old pen and paper game called paranoia BTW you don't have clearance citizen zzit reactor shielding hail mighty computer)
He sites other nations did we should too let's look at those nations Thailand China and south Korea. Awful lot of red I'm seeing there....
nvgrim
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The dealership accepts BTC as payment, so the buyer paid with unconverted BTC. These were two different people, i can look it up if you dont believe me.
Cryptocurrency makes baby's brain hurt.
Maybe he is mad that Bitcoin didn't require a massive 16 trillion dollar bailout using money the federal reserve materializes out of thin air in order to bounce back from a major exchange going down. When the crooks are circling the wagon, you know they are scared.
jcvjcvjcvjcv
Gawd
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Pff... anything that tries to compete with the government's favorite fake currency (the US$) get's banned...
They're just mad at their attempts at suppressing gold and silver failed when investors didn't take the bait and kept buying the stuff.
Lol bitcoin isn't even a currency. It's traded like a commodity. It's too volatile to be used as money, and it's not backed by a government. It's pretty laughable if you think this fad is going to have any impact on the financial industry beyond maybe trying to squeeze some dollars out of trading it.
We use fiat currency because tying money to the supply of a mineral we dig out of the ground made about as much sense as tying it to the supply of dog poop or chocolate sprinkles. How much shiny rocks we have has nothing to do with how much currency we need in circulation to keep the economy healthy and growing.