Bitcoin

<h4><strong>The “Bitcoin Standard” book explores the history of money. It advocates Bitcoin as a strong alternative to fiat currencies and central banks.</strong></h4> 
<p>Massie explained that reading “<a href="https://saifedean.com/tbs" target="_blank" rel="noopener">The Bitcoin Standard</a>” was a pivotal moment that shaped his understanding of monetary policy.</p> 
<h5><strong>“The Bitcoin Standard” Sparks Legislative Action</strong></h5> 
<p>It highlighted the inherent flaws of the current fiat system overseen by the Federal Reserve. The book argues that Bitcoin’s decentralized nature offers a more secure, transparent, and immutable form of currency. It is free from the manipulations and inefficiencies often associated with central banks.</p> 
<p>Massie’s bill proposes a plan to dismantle the Federal Reserve System (FED). The <a href="https://www.altcoinbuzz.io/?s=FED" target="_blank" rel="noopener">FED</a> has been the central banking authority in the United States since its establishment in 1913. The Federal Reserve’s primary functions include regulating the money supply and stabilizing the financial system. It also provides financial services to depository institutions, the U.S. government, and foreign official institutions.</p> 
<p>Critics like <a href="https://x.com/RepThomasMassie" target="_blank" rel="noopener">Massie</a> argue that the Fed’s control over monetary policy leads to economic distortions, inflation, and a lack of accountability.</p> 
<p><img decoding="async" class="wp-image-143088 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxxccdccdcd-300x274.jpg" alt="" width="526" height="480" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxxccdccdcd-300x274.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxxccdccdcd.jpg 393w" sizes="(max-width: 526px) 100vw, 526px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/BitcoinMagazine/status/1801295100925849958" target="_blank" rel="noopener">X</a></strong></h6> 
<p>“The Bitcoin Standard” emphasizes the benefits of a decentralized financial system where money cannot be arbitrarily created or manipulated by a central authority. It suggests that Bitcoin, with its fixed supply and transparent ledger, can prevent the inflationary pressures that devalue fiat currencies over time. Massie resonates with these ideas, believing that transitioning to a <a href="https://www.altcoinbuzz.io/?s=bitcoin" target="_blank" rel="noopener">Bitcoin</a> standard could restore financial stability and integrity.</p> 
<h5><strong>More About Abolishing the FED</strong></h5> 
<div class="flex-shrink-0 flex flex-col relative items-end"> 
 <div> 
  <div class="pt-0.5 juice:pt-0"> 
   <div class="gizmo-bot-avatar flex h-6 w-6 items-center justify-center overflow-hidden rounded-full juice:h-8 juice:w-8"> 
    <div class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8">
     One year ago, Dennis Porter, CEO and Co-Founder of the Satoshi Act Fund, led a group of Bitcoin advocates from the <a href="https://x.com/orangepillapp" target="_blank" rel="noopener">Orange Pill organization</a> to the U.S. Congress. During their visit, they distributed copies of “The Bitcoin Standard” to every congressional office in Washington, D.C.
    </div> 
   </div> 
   <div></div> 
   <div>
    <img decoding="async" class="wp-image-143095 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cxvcvvbcbvbnv-272x300.jpg" alt="" width="478" height="527" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cxvcvvbcbvbnv-272x300.jpg 272w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cxvcvvbcbvbnv-381x420.jpg 381w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cxvcvvbcbvbnv.jpg 396w" sizes="(max-width: 478px) 100vw, 478px">
   </div> 
   <h6 style="text-align: center;"><strong>Source: <a href="https://x.com/Dennis_Porter_/status/1801347635347132707" target="_blank" rel="noopener">X</a></strong></h6> 
   <div class="gizmo-bot-avatar flex h-6 w-6 items-center justify-center overflow-hidden rounded-full juice:h-8 juice:w-8"> 
    <div></div> 
    <div class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8">
     Among the recipients was Congressman Thomas Massie, who later cited the book as a significant influence on his decision to introduce a bill aimed at dismantling the Federal Reserve.
    </div> 
    <div></div> 
   </div> 
  </div> 
 </div> 
</div> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="alignnone size-full wp-image-123700" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg" sizes="(max-width: 1197px) 100vw, 1197px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg 1197w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1068x132.jpg 1068w" alt="" width="1197" height="148"></a></p> 
<div class="youtube-embed" data-video_id="U6gYgJzKZis">
 <iframe title="This Crypto Altcoin Is a Sleeping Giant (Mega Bullish Update)" width="696" height="392" src="https://www.youtube.com/embed/U6gYgJzKZis?feature=oembed&amp;enablejsapi=1" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div> 
<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/us-congressman-cites-bitcoin-in-bill-to-abolish-fed/">US Congressman Cites Bitcoin in Bill to Abolish FED</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

US Congressman Cites Bitcoin in Bill to Abolish FED

Altcoin Buzz

Other articles published on Jun 14, 2024

MicroStrategy Convertible Senior Notes Worth $700 Million Offered at 2.25% Interest

Bitcoin Market Remains Strong Despite Miner Troubles Says Analyst: 'Strong Demand Preventing Sign...

Gnosis Taps Chainlink's CCIP and Automation for Next-Gen On-Chain Applications

BlockDAG Dominates Lido DAO & Celestia: X30 Miner Propels Crypto Investment Gains To New Heights

PEDRO Price Surged Over 18% Intraday: Did The Sell-off Stop?

Fat Whale Allocates $600,000 USDT to Shiba Inu (SHIB) and Trending Coin That Gained 2000% Overnight

Join our free newsletter for daily crypto updates!