I think we should all call our senator and Congressman, and try to fight this bill because if this passes our use of crypto-currency would be fast tracked to criminalization.
SENATOR’S WAR ON BITCOIN & CASH
New legislation aims to hurt cryptocurrencies
From: Infowars.com
"Purportedly to respond to off-shore tax evasion exposed in the Panama Papers, new legislation would escalate tax evasion to the far more serious crime of money laundering.
But it’s really upping the ante on total surveillance and total control of financial assets as it specifically targets all forms of digital currency and physical cash outside the domain of the banking system."
First published on Infowars.com at https://www.infowars.com/senators-war-on-bitcoin-cash/
This post received a 1.4% upvote from @randowhale thanks to @exploretraveler! For more information, click here!
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the government doesn't like crypto because they don't get a cut of it!
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@cryptotraderx
I have been working for years advocating for our industry and this is a another sneaky method of downright stealing what isn't theirs. The Senators that are on this bill make who and what they support clear.
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Thank you @cloudnine
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We knew they would try to attack it anyway they could. It will only hurt the US in the long run, trying to attack it.
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Unfortunately here in the UK bitcoin is held away from society as much as possible! Especially in the south coast. No advertising or support from organisations. MSM worked there magic and most think it's a tool for criminals.
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@crypto-curt I'm sorry to hear that, and not surprised. The UK government and the USA have vested interests in their own system, and they should leave our system alone.
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MAYBE ITS TIME
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depeche, my boys! :)
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Bitcoin
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All we have to do is hide our keys and not tell them we have any, right?
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@writtenbird
They appear to be targeting us international travelers, and may force us to sign documentation forcing us to tell all about our holdings. If we lie then we have incriminated ourselves. This is legal trickery!
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I wonder if there was a way of wording it without saying cryptocurrency. Just to refer to it as a secure transaction system.
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@writtenbird good point and I will consult a lawyer to see if there is a way for us to respond if this passes.
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Like I wouldn't even mention it, and in my head I will just say to myself, well, services were exchanged non-simultaneously between various parties and the value is in the service or product provided, and the system just connects people together.
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Keep in mind this is only one piece and they will not stop expanding legislation until they can control it.
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I know, but my hope is that centralized authority is irreparably undermined with blockchain tech and P2P interaction. They'll be like old people grasping at straws if the big shift dawns.
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Government is foul
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Yep we don't need them
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Nothing will ever stop bitcoin from being used..the fact is they just want to be nosy. If you're doing legal activities who cares what the so called governs think right:) Life is give or take I'm certain we will have to pay tax in some form in every-way through t life..that's the balance yin/yang. Nice share!
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@arcaneinfo I wish it was that simple, but history is there to teach us that once government starts something and we accept it it will only expand further.
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Sounds like a waist of time, effort and money on governments part. They will never be able to keep up with technology.
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@smitty They never do!
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I am fairly new to steemit and cryptocurrency but I can tell you that governments fear what they cannot control or tax to death. They will try their best to disrupt and intervene with many resources. Thanks for this thought provoking post.
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@prep4shtf I think we need to vocalize our distrust and make it clear they need to stay out of our business.
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Interesting article. Upvoted!
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Thank you
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Great post. They saw that this was the future and that it could be earned well, and certainly criminals could so easily run dirty money
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