Skip to main content

See also:

Congressman buys bitcoin from the Washington Bitcoin ATM

Jared Polis, the democratic Congressional representative from Colorado, purchased the first bitcoin cryptocurrency from a Bitcoin ATM placed in a Congressional office building, Rayburn House, yesterday by Robocoin, reports Coin Desk. This was strongly supported by Polis who supports Bitcoin and digital currency to be accepted as legal tender. He received .02 bitcoin currency from his ten dollars placed into the ATM.

Representatives Of A Bitcoin Kiosk Company Demonstrate The Currency Product On Capitol Hill
Photo by Drew Angerer/Getty Images

Because people who do not understand a new item, such as bitcoin cryptocurrency, they tend to shun it explained Congressman Polis yesterday in his demonstration on how easy it is to exchange US dollars for bitcoin currency. His actions are in response to Senator Joe Manchin, a Democrat from West Virginia, last February sent a letter to regulators that Bitcoin should be rejected and bitcoin currency in use for payment of goods and services was bad for the consumer. Polis does not share that view and supports Bitcoin as does Congressman Stockman of Texas who is proposing a bill to classify Bitcoin as legal tender along with cryptocurrencies as opposed to the label of ‘property’ given by the IRS in a recent release for tax rules.

Polis understands that Bitcoin exchanges have abused public trust due to the well- publicized Mt.Gox bankruptcy in late February and the FBI arrest of the Silk Road Web site owner last September in San Francisco for money laundering drug activity and murder for hire currency transfers. Polis' demonstration had a learning curve when he became a digital wallet-owning member of the cryptocurrency community. First, he had to verify his identity with his phone, and his palm against the screen attached to his ID card. Next, he entered a pin to complete his account. As he got confirmation, he made a joke that the NSA has all this information, ‘right?’ and he received his bitcoin for which he plan to buy some alpaca socks.

Joining Polis on Tuesday to answer questions were Robocoin CEO Jordan Kelley and cofounder John Russell. ‘Our goal is to bring bitcoin to the 99.99 percent,’ Kelley said. ‘The world has much more to benefit with bitcoin than without.’ While Russell spoke and answered questions, another tech supporter, Bob Goodlatte, (R-VA.) chairman of the House Judiciary Committee, walked in. He has enthusiasm for learning about digital currencies and plans to purchase some bitcoin for his own learning curve and purchases as a consumer. Goodlatte has been a supporter of education on the Internet and technology for advancement.

‘When the Internet was first being invented and first being brought to Congress, it was asked at that period of time if regulators should just wait and see or if they'd want to ban it.’ Russell said. ‘I would encourage them to wait and see.’ Bitcoin has had its introduction to Washington and has found its groundswell of supporters.