Senator Calls For Total Ban of ‘Dangerous’ Bitcoin
http://media3.s-nbcnews.com/j/newsc...5dab8b62aec23d30b32a77.nbcnews-ux-640-440.jpg
“The clear ends of Bitcoin for either transacting in illegal goods and services or speculative gambling make me weary of its use,” Manchin, who sits on the Senate Banking Committee, concludes. “I urge the regulators to work together, act quickly, and prohibit this dangerous currency from harming hard-working Americans.”
nbcnews.com/tech/innovation/senator-calls-total-ban-dangerous-bitcoin-n39541
But, all currencies, including the American Dollar, is used for gambling and illegal activities.
Jordan banned it this week, but, that’s Jordan. Now, if the United States bans it - that will have an impact. It will not eliminate it, I think cryptocurrencies are here to stay, but it will have a negative impact. If the USA bans it and other countries follow suit, like China, that would be bad news. I think if bitcoins succeeds it may have a negative impact on the dollar, perhaps that is what is concerning the senator.
Well, the economic projection for the USA is not good. It looks like things are going to get tough in the coming five years from what I have been reading on the net. If bitcoins effect the value of the dollar in addition to the devaluation expected - that would not be good for the USA. Regulators, however, need to keep in mind that if cryptocurrencies are made illegal they will only go under and regulators will not be able to regulate them. Perhaps, the solution is to meet half way.