The bill was introduced by Senator Mark Warner from Virginia. Here's a list of all the people co-sponsoring it. Basically runs the table for worst members of the DC uniparty.
If this was about banning TikTok, they would pass a bill that simply bans TikTok.
But the uniparty is trying to create the same system of domestic spying they did after 9/11 for the internet but on steroids.
And h/t to @LPMisesCaucus for the screenshots.
Believe it or not, it gets even worse: If you find you in violation, they can put you in jail for 20 years, fine you $1M, and seize your property.
They can also deem any foreign government an adversary without informing congress and everything they do is not subjected to FOIA.
The bill to ban TikTok is absolutely terrifying. It gives the government the ability to go after anyone they deem as a national security risk at which point they can access everything from their computer to video games to their ring light.
This is a Patriot Act for the internet.
Crypto enthusiasts are upset by Gary Gensler's reassertion that he sees #Bitcoin as a commodity and everything else as an unregistered security. They fear SEC regulation but fail to realize that if their favorite crypto projects were truly decentralized, regulators wouldn't be able to do shit about them.
Sure, they could shut down the on/off ramps, make tax laws unfavorable, hell...even make ownership illegal for everything (#bitcoin included). But you know what they can't do to #Bitcoin that they can do to crypto? Go straight to the creators, the foundations, or the companies who are responsible for creating and maintaining it. They can't reverse the network effect that #Bitcoin has already established or convince the die hard bitcoiners to stop believing in it. If anything, any attempted regulation of #Bitcoin would only add fuel to the fire and embolden bitcoiners to fight back that much harder.
#Bitcoin is literally built for this fight and its users are aware of what's at stake, our monetary freedom. We're willing to go down with the ship but we also know our ship ain't going down. Crypto, on the other hand, isn't built for this fight...it's weak centralized garbage and its days are numbered.
A succinct review of how various asset classes such as Gold, Real Estate, & Equity perform in economies suffering from hyperinflation, based on first principles and some history, along with an explanation as to why #Bitcoin is the superior monetary asset. https://t.co/S0KsjAP2ZE