Political Quotes

“Madam President, the next time you are checking out at your local grocery or convenience store, take a look around. There is a good chance you will see a kiosk marked with the letter B with two vertical lines running through it. It looks like the form of a dollar sign. It is the symbol for Bitcoin. And what you are looking at is a Bitcoin ATM. Take a closer look. Is there somebody using the machine? Are they on their phone while they are using the machine? Do they seem stressed? If so, they might just be one of the growing number of victims of Bitcoin ATM fraud. These scams, which frequently target elderly Americans, start with a phone call. A criminal calls his target and claims he is from their bank, the IRS, or some Federal Agency. He tells his victim that their bank account has been hacked or that they are late paying their taxes and explains that they need to go to their bank immediately and take out money--sometimes hundreds of thousands of dollars. He directs his victim to a local business that hosts a Bitcoin ATM. He might even order them an Uber driver to pick them up. From there, he walks them through, step by step, how to deposit their money into the machine; how to use it to buy Bitcoin; and how to transfer the Bitcoin to a digital wallet controlled by the criminal himself. In a matter of minutes, the money is gone, lost to the anonymity and irreversibility inherent to cryptocurrencies like Bitcoin. Bitcoin ATM scams like these have exploded in recent years.…”