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Hello everyone, lets talk about the US Senates introducton of the bill S. 1241 and its impact on the future of bitcoin.
>the bill
>https://www.congress.gov/bill/115th-congress/senate-bill/1241/text#toc-idea0e9489fc8f46379f95bb56c8bbbda5
What are the US governments intentions for bitcoin? Wouldnt the government also benefit from using a digital currency?
My belief is that the answer lies across the ocean from the us. Given that Russia balls deep in Ethereum and with the Chinese obsession with bitcoin, the recent introduction of this bill may very well be an attempt to undermine both Russias and Chinas holds on the cryptocurrency world. Now if thats true, then the US can take several avenues from here.
1. The bill passes, Crypto crumbles and, upon the "realization" that the tech is extreamly valuble, the US indirectly introduces a new crypto that they secretely have control of. This would reestablish them at the top and give them the contorl they want over the market.
2. The bill doesnt pass, But its introduction was simply a ruse to cause bitcoin to fall to lower prices so that they can invest in it, thus giving them some control over it. This would also allow them to "reintroduce" the bill whenever needed to keep the market in check.
3. The bill passes, and the US rejoices as they watch crypto fall, but they dont repeal the bill and we are left behind.
4. The bill is ignored, after all, Feinstein is a cunt and everyone knows it.
>links to various older articles that show Russias and Chinas involvement in crypto
>https://www.rt.com/business/315512-russia-qiwi-ruble-cryptocurrency/
>https://www.bloomberg.com/view/articles/2017-06-06/ethereum-could-change-russian-banking-and-government
>https://www.wealthdaily.com/articles/is-russia-the-reason-ethereum-is-climbing-why-is-ethereum-rising/8708
>http://www.bbc.com/future/story/20160504-we-looked-inside-a-secret-chinese-bitcoin-mine
>https://www.bloomberg.com/news/2013-08-22/why-the-chinese-love-bitcoins.html
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Tip
BTC: 1KNWH3GgGRSiMtid2cBKe8FZePWKZL39Tt
ETH: 0x4ef9a52361066c001415f1776c755bf666ecc26e
LTC: LR8APFmHVNQ6wx44LYXDSUENqvt2GyujiA
RDD: Rs9jAoSWRaauTsp4VjYBWEFPnbU6B7guLM
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tl;dr
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>>2463158
Perhaps the introduction of the bill is to undermine both Russia And Chinas hold on Crypto
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Such proposals together with btc scaling issues could create the perfect storm needed for a short or mid term bear market for cryptocurrencies. If not crypto will have another euphoric pump and then correct for a year. The correction will occur and this is why i have sold a percentage of my portfolio. Once the US lessens the aggressive attitude towards btc and btc reaches a scaling consensus, ill start adding to my position.
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