"This Country Is in Dire Need of Freedom": Stockman Vocal in Speech following Draft Bill
Following his draft bill to prevent new legislation on Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw , Texas Republican Stephen Ernest ("Steve") Stockman did not mince words in a follow-up speech at the New York City Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Center, Cointelegraph reports.
Last week, Stockman introduced a draft bill titled "Cryptocurrency Protocol Protection and Moratorium Act." It calls for the legal recognition of cryptocurrencies as currencies and a five-year moratorium on any new legislation pertaining to them (except for legislation of the bill, itself).
Miners would also get a break. Bitcoins generated from mining should not be taxable until converted to fiat because they are volatile assets of unstable value (yet they should still be recognized as currency).
Stockman has been an outspoken supporter of digital currencies. He had also called for recognition of Bitcoin as a currency shortly after the IRS ruling deeming it property, saying, "Along with 3-D printers and nanotubes, cryptocurrency is the future."
In his most recent speech he expanded upon his rationale for the bill:
"This is the leave us the hell alone bill. Don’t step on the seed. Don't step on the little tiny plant while it's starting out."
Allowing cryptocurrency to bloom for five years, unhindered and free of taxation, is the preferred course. "This is a small venue right now. But eventually, if the government stays out of it, this thing can take off globally," he said, repeatedly warning of the government's power and how the US "is in dire need for freedom."
Following his draft bill to prevent new legislation on Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw , Texas Republican Stephen Ernest ("Steve") Stockman did not mince words in a follow-up speech at the New York City Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Center, Cointelegraph reports.
Last week, Stockman introduced a draft bill titled "Cryptocurrency Protocol Protection and Moratorium Act." It calls for the legal recognition of cryptocurrencies as currencies and a five-year moratorium on any new legislation pertaining to them (except for legislation of the bill, itself).
Miners would also get a break. Bitcoins generated from mining should not be taxable until converted to fiat because they are volatile assets of unstable value (yet they should still be recognized as currency).
Stockman has been an outspoken supporter of digital currencies. He had also called for recognition of Bitcoin as a currency shortly after the IRS ruling deeming it property, saying, "Along with 3-D printers and nanotubes, cryptocurrency is the future."
In his most recent speech he expanded upon his rationale for the bill:
"This is the leave us the hell alone bill. Don’t step on the seed. Don't step on the little tiny plant while it's starting out."
Allowing cryptocurrency to bloom for five years, unhindered and free of taxation, is the preferred course. "This is a small venue right now. But eventually, if the government stays out of it, this thing can take off globally," he said, repeatedly warning of the government's power and how the US "is in dire need for freedom."