“An awful lot of our international power comes from the fact that the U.S. dollar is the standard unit of international finance and transactions,”
“Clearing through the New York Fed is critical for major oil and other transactions. It is the announced purpose of the supporters of cryptocurrency to take that power away from us, to put us in a position where the most significant sanctions we have against Iran, for example, would become irrelevant.”
“So whether it is to disempower our foreign policy, our tax collection enforcement or traditional law enforcement, the advantage of crypto over sovereign currency is solely to aid in the disempowerment of the United States and the rule of law,"
BAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
Rep Sherman, please stop. I can only get so erect!!!
I'm gay and I hold... Chainlink!!! Chainlink!!! Yes!!! I'm G. A. Y., gay!! By Allah I'm feeling the gaynergy! I love this movement that we built, fellow gay Marines! Yyyyyyyyes!! Chainlink is not just a blockchain, it's A MOVEMENT. What a marvelous community, my gay fellas! I want to chainlink and snort cocaine in a limousine with my gay friends! In Iambos we have gay sex and worship Master Sergey!
NEVER SELL OR MOVE YOUR TOKENS, TAKE THEM TO THE GRAVE!
Should underline Russian which is the real problem here.
John Baker
Ya they're more than likely just trying to figure out a way to crack quantum codes quicker? Maybe to wage governmental wars or that thing in Antarctica has a password
no 4d chess, truth is he's just sincerely this stupid
Anthony Green
I mean, in a way he is smart, in that he's not exactly wrong. It just would have been more useful behind closed doors in 2010. Saying it in 2019 in congress seems a bit late unless the government has enough hashpower to 51% attack it
Justin James
They're mad that crypto might collapse their whole scheme before they could finish selling the US out to chinks. The future is nation states.
also his view on it basically encapsulates the most optimistic anarcho-capitalist dream of what bitcoin could become, which as we have seen does not really match up with reality. bitcoin has enough of a record to make all of the threats he is talking about basically moot points given the existing capabilities of the U.S. intelligence and other agencies. A more mainstream and less paranoid view would be that governments and cryptocurrencies can co-exist given that most people do not want to live in a crypto-anarchy world.
Nathaniel Taylor
>governments and cryptocurrencies can co-exist given that most people do not want to live in a crypto-anarchy world.
Nobody is going to want to pay taxes and there wont be a way to really force them to do it. Being paid in USD is an immediate 35-50% pay cut. Thus the USD is losing extremely badly vs most crypto holders who simply are just not paying taxes. Sherman talks about this as well.
Now that we have stable coins that are reasonably good and ways to build business using smart contracts. Who the fuck is legitimately going to want to deal with USD boomer coin anymore? The USA NEEDS TO DRASTICALLY lower taxes to be competitive with Crypto.
Jeremiah Edwards
Politicians are all fucking thieves and liars. Satans little henchmen.
As retarded as it sounds, the debt backed fiat scheme is probably the strongest asset that the US could possibly have at present. The US can and should use its money printing abilities to build up infrastructure and value producing assets on leverage. That way when bitcoin becomes the new standard, the US can safely transition and tell any nation-state bond holders to fuck off when they come asking for a margin call. I doubt that's Sherman's goal with this, but realistically it's what needs to happen.
Carter Johnson
It’s now being admitted that Bitcoin threatens the US dollar. Have you folks any idea how bullish that is? (((Shernose))) not only legitimized Bitcoin- he straight up admitted it was better than the US dollar. I don’t think anything more bullish has ever come from Congress. If this isint obvious enough, Buy Bitcoin.
