Dennis Porter shared: BREAKING NEWS: America COMPETES Act passes in the House with an amendment to stop the Federal Government from expanding their power to spy on and ban Bitcoin and Crypto Transactions.

Community Response:  That Pelosi impresses the hell out of me. For a lady born before vinyl records were invented, she understands call options, out-of-the-money puts, and Blockchain technology. She’s amazing.

Don’t confuse a well-scripted teleprompter with wits

Do not trust govt. People should be highly-sceptical of anything that passes the house right now.

They don’t need to ‘Spy’ it’s a public blockchain.  At least they can’t ban it and overreach US citizens’ rights.  They can regulate buying/selling/cashing out which would essentially ban it in a way.  Well, the Gov. embracing BTC instead of banning it. Shocking.

Yeah shocking. When the world rejected USD as a reserve currency, a fully traceable system was created by a “goodwill guy” and walked away with 5% of the supply. An asset that is measured in dollars and correlated to stocks. Manipulated by US media. Wonder who’s that unknown goodwill guy is.

It’s correlated to the money supply. Federal governments worldwide have been printing more dollars out of thin air to make stocks go up. This makes bitcoin go up because your dollars go down.

It’s made to take some of their power away. The idea of digital money has created currencies that can’t be tracked like Monero. I assure you no 1st world government would have created this.

Still unsure as to why we seek the state’s approval to develop and enjoy permissionless money.

It’s not approval. It’s just relentless offense, which includes facilitating peace of mind for skeptical people who want to add to the network but haven’t yet. Just another push of the flywheel to strengthen the network.

I was under the impression that the strength of bitcoin was inevitable.

The act is a direct attack against Bitcoin.  I figured it was some kind of bait and switch by the gov’t, seems like there is a LOT of posts that do not get the scope of this.

It has nothing to do with banning Bitcoin, but rather gives the power to investigate suspicious crypto transactions.

Can you not read to comprehend? He said to stop the government from Banning and spying on crypto.

The fact that they can spy at all is an overreach. But glad Bitcoin is getting protection. Government just needs to back off in general.

I tried to find the information in the bill and failed. What terms should I search for or what page is the information on?

Let’s hope this is truly good news and they haven’t inserted a spanner in the works. Government’s don’t truly truth trust them.

Really? I’m impressed that the House passed that. Good for them.

The power that is handed to the Treasury is alarming, to say the least, this is not adoption. Everyone needs to take a closer look at what is in the bill.