Jared Polis Now Openly Supports Bitcoin; Buys 0.02 BTC with $10

Jared Polis Now Openly Supports Bitcoin; Buys 0.02 BTC with $10
Jared Polis Now Openly Supports Bitcoin; Buys 0.02 BTC with $10

Jared Polis Now Openly Supports Bitcoin; Buys 0.02 BTC with $10

Jared Polis, the member of the United States House of Representatives for Colorado’s 2nd congressional district, serving since 2009, is a leader who is often in the news for supporting Bitcoin. Earlier, he invited Bitcoin ATM maker Robocoin to give a presentation at Capitol Hill; now, the US Congressman has become the first representative to buy Bitcoin in public.

The overt support coming from the congressman is definitely a plus for the digital currency which has been facing a lot of flak from various quarters and governmental agencies. Mr. Polis earlier asked Robocoin to demonstrate its two-way Bitcoin machine to other members and officials unfamiliar with the practicalities of the technology.

It was aimed to help congressmen understand the process of Bitcoin transactions and to show them the process he put $10 into the ATM, receiving 0.02 BTC in return. A major problem with a lot of law makers according to Mr. Polis is that some of them have little understanding of Bitcoin and that leads to skepticism.

Talking to media professionals Jared Polis admitted that when people don’t understand something there’s a natural tendency to fear it to try to preserve the status quo. However, there is always way to educate such people and he expects those who suspect will be convinced in due process when they are exposed with Bitcoin a little more.


Jared Polis’ Letter to Senator Joe Manchin

Jared Polis gives a relief for Bitcoin which has seen draconian politicians seeking a ban on it. Earlier, in February this year, Senator Joe Manchin, a Democrat from West Virginia, sent a formal letter to federal regulators calling for an outright ban on Bitcoin. Mr. Manchin believes that the failure of immediate action could negatively impact US consumers.

Mr. Manchin got an apt reply from Jared Polis who retorted that even the US dollar should be banned because it too has some inherent issues with it. For instance, Mr. Polis says that the dollar is the currency of choice for cartels, criminals and illicit transactions and is likely to stay that way for the foreseeable future.

Jared Polis believes that as digital currencies like Bitcoin are becoming more popular, the level of awareness will increase in Congress as well. He thinks that Bitcoin and other similar digital currencies have several advantages over government currencies and there should be an increased and important role now.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com