Bitcoin Forum

I think they will eventialy have to embrace it but there are alot of opinions about this, what is your take??

Bitcoin has already been accepted by America.

Here's an article from Reuter's stating that the US declared Bitcoin as money: http://www.reuters.com/article/us-jpmorgan-cyber-bitcoin-idUSKCN11P2DE (http://www.reuters.com/article/us-jpmorgan-cyber-bitcoin-idUSKCN11P2DE)

"The Internal Revenue Service (I.R.S) describes Virtual Currencies (VC)s as “a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value [and] does not have legal tender status in any jurisdiction.” -https://en.wikipedia.org/wiki/Virtual_currency_law_in_the_United_States (https://en.wikipedia.org/wiki/Virtual_currency_law_in_the_United_States)

In my opinion bitcoin will be accepted by USA ... because bitcoin is one of the many advantages of tranding places ...

Not only it is already accepted but you're also required to have a BitLicense if you operate a Bitcoin related service
in New York. They are heavily regulating Bitcoin and the more it is recognized & used by the people the more they'll regulate it. Coinbase for example sends copies of your trading activity to the tax agency if you live in the US.

Not only USA but all the countries will embrace Bitcoin some day or other. If they denounce or ban bitcoins, people will just funnel their money to other countries. At least right now you pay capital gains tax on withdrawals to your bank. It's a winning situation to regulate crypto trade.

True, but not all governments have the same acceptance towards bitcoin. While there are some countries like Japan, South Korea or Singapore that are clearly bitcoin friendly, other countries like the USA or many countries in Europe are much worried at how they can regulate and, in a certain way, control it. I guess they fear that, if people uses bitcoin in mass there will be less use of fiat currency and its value will decrease.

The USA used to be defined as a place of innovation, out-of-the-box thinking, rugged individualism where someone with a good invention like bitcoin could be successful.

Somewhere along the line, I think the US became the complete opposite of what it used to be.

America is now a place which oppresses innovation and inventions like bitcoin.

Bitcoin has almost been accepted by every country, embraced by every economist these days.
This cryptocurrency is now used as a primary pay method by many traders, advertisers, institutions.
Bitcoin puts a very immersive influence on global economy, no one can denounce it.

America already accepted bitcoin mate and so with other countries, I guess they are one of best country that totally adopt bitcoin fast like those restaurants in public uses it already. And so with the BitLicense which means the government really accept it to form of transactions which we hope every country will make it too and those who banned bitcoin be enlightened like USA adaptation of bitcoin.Maybe some countries were just threatened of the negative of bitcoin.

This is something that will eventually happen whether they like it or not. Like in have read in thread related to this when it comes to legislation of bitcoin by the senate. All they are doing is flexing their muscle at the moment and they may be successful in enacting such law at this time but few years down the line, I see an amendment or even a repeal of the entire law after all. Let them continue living in denial until when they can no longer do that again.

I don't give any comment about this. I don't know the US government how to govern its country. I will take this as my own belief about bitcoin. I think under US government will take bitcoin as their alternative money. Everybody used bitcoin, use in their transaction. It gives us an idea to make more money. Everybody embrace the bitcoin idea and accepted in every transaction. Establishments planning also accepting this because every people were holding this kind of money.

Looks the senate is against bitcoin or try to restricted those citizens are using bitcoin.
http://hpub.org/Senate_Bill_to_Force_Citizens_to_Register_Cash_Not_in_a_Bank%2C_Violators_Get_10_Years_in_Prison-59196/


remember the bitcoin already included by them on the bill.

America already accepted bitcoin. So, the other countries must have accept and embrace an alternative money. If other countries are open minded with this thing or the government it might help the economy especially who don't have job and seeking for job to help themselves to have a living

Eventually that is what will happen if all their efforts to stop it or even destroy the technology does not yield any results after so much effort and money has been spent on that excercise. The only thing I see as a concern is that they have not being able to find a way to tax bitcoin successfully the moment they achieve that, I am sure they will do it. All the crime associated with bitcoin that they are propagating is just a distraction from their objective in my own opinion.

If you are going to ask me what will USA do to bitcoin then i will say that they will embrace it as a regular currency because of its security features and the best features like fast transactions without waiting a lot of days to get your money if you are from the other part of the world. Bitcoin is one of the newest accepted currency in most of the countries that i know so it is very possible for USA to do it also.

The USA already accepts bitcoin and it is heavily regulated by the government. Especially with the Bitlicense, it is proof that America is embracing bitcoin. Most countries now are being forced into a sticky situation, especially after the Japan scenario with it now accepting bitcoin, some are choosing to not say anything which makes bitcoin not illegal. All countries will eventually be forced to accept Bitcoin due to its growing popularity.
 
Especially with our growing technology and our World Wide Web, there has to be a form of online payment. Bitcoin is starting to become one of them and due to our society becoming more and more digital with everything found on the web, countries will be forced to accept bitcoin or the inhabitants will just look for workarounds. Let me make an example, say that most of the countries accepted a new currency called “xcash”. What would happen to the country that didn’t, it would be limiting its own market and pretty much shooting itself in the foot.

It keeps coming back to people accusing the government and there is no doubt that it has had quite a bout with Bitcoin, but, to some extent, it is no longer an issue of the government.  It is an issue of the businesses and the code itself.  The two and intertwined between the fluctuating value system and the confirmations that nearly completely prevent instant buy and sale.

Now try to pull back once we all know the United States is the number one currency holder in the world, in this case could be an obstacle if they accept bitcoin or embrace it will be a separate decline in the presence of dollars in the US. Now look at how the state of technology handles bitcoin values ​​that are currently on the rise.

Most of the investors are from US so In my opinion bitcoin will be accepted by USA Soon.

I won't even expect any country to just adopt bitcoin without a fight not even USA which is the home of capitalism that the adoption could create a change to the fundamental way of living where you don't get to spend more than the btc you own in your wallet compared to the current scenario where your eligibility to enjoy some privileges is dependent on your credit worthiness. So, I don't see them adopting any time soon but may be later though.

Exactly, Bitcoin is even used on USA exchanges more than the others so why wouldn't they officially accept it in the near future to help cut off illegal/black market usage.

I have seen lots of American investor in lots of ico, so definitely its already used in USA, maybe government were not aware yet or they might thinking of ways to embrace it or eliminate it,we can't tell yet.

America accepting bitcoin that lightly? There must be some catch besides just adopting the bitcoin, such a huge government won't be accepting it that lightly with a high chance of those who are using it evading the taxes.

In my opinion, USA has already accepted Bitcoin but more so on the taxation side of the equation. Of course, the government is always thinking of ways to enhance their revenues considering the big shortfall and the rising debt figure so Bitcoin transactions should not escape their radar. Hell, the IRS is even willing to tax illegal activities like drugs  if given the chance.

But one notable in USA is there is that presence of a big reluctance to embrace the blockchain technology unlike with Japan which is so gung-ho in accepting Bitcoin consequently they would reap all the benefits this new technology can bring to their country. Japan is poised to be one of the leaders in Bitcoin.

Although we also have to understand that since Bitcoin is representing a disruption of the normal way we do things most especially in the finance and banking sector, politicians or those in power would always scrutinized it as they don't want to blame by their constituents in case something bad would occur.

Anyway, given time I am sure that the USA government would eventually be a part of the Bitcoin revolution but leadership is already taken by someone else.

The question is whether the government will tax and regulate it to death, not whether the people will accept it as legitimate.   The fine citizens of the United States already have adopted it as a real form of money.  To the IRS, it's still a new thing and they haven't yet found a way to kill it.  I'm sure they're working on it though.   All this talk of money laundering and terrorism has me concerned that the government might use those bullshit reasons to regulate bitcoin.  That would suck.

The Terrorism and Illicit Finance Subcommittee held a hearing entitled “Virtual Currency: Financial Innovation and National Security Implications” at 10 a.m. on Thursday, June 8, 2017, in Room 2128 of the Rayburn House Office Building. Not sure of the outcome. Here is the notice I found:
https://financialservices.house.gov/uploadedfiles/060817_tif_memo.pdf

Yeah well the majority of bitcoin users are Americans, so Bitcoin is already a major thing in the USA it's just that the government hasn't acknowledged it properly and I don't think the government will make any laws, regarding it anytime soon.

I really do expect some sort of regulation on how they will restrict dollars going out of the country into these big ico's and i do expect there will be some changes in the future on how someone can conduct these sort of investment opportunities without any regulations.

I think they're going to regulate it on a federal level if they feel as if it's going to be posing a risk to the bankers, their own treasury and all the bureaucrats behind it, and all the other people with tons and tons of money who stand to lose it all if Bitcoin is the currency that takes over all. Just imagine all of the big bankers and government workers being ousted because people have no use for them due to this decentralized currency known as bitcoin.

I don't think we're ever going to get to that point though, these people have too much to lose and too much money to spend to lobby the government a certain way. So if it gets to a point of danger, Bitcoin is going to get rocked by the government.

So, only denounced if needed for the betterment of WHOS IN POWER AND PAYING.

The U.S. Treasury classified bitcoin as a convertible decentralized virtual currency in 2013. The Commodity Futures Trading Commission, CFTC,

classified bitcoin as a commodity in September 2015. Per IRS, bitcoin is taxed as a property.

In September 2016, a federal judge ruled that "Bitcoins are funds within the plain meaning of that term".

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Americas

So in my view, Bitcoin is classified as a commodity in the USA.... right?
 

Whether USA will accept bitcoin or not is their own subject of discussion which I am sure its not on the priority list for the administration currently with all sorts of thing militating against its ability to function. At the same time I still feel its of both ways whether USA will accept bitcoin or not in the sense that, they are more security conscious and the anonymity of bitcoin which might pose a threat to that could mean they might not accept bitcoin after all.

I'm not seeing anu reason why they will denounce btc. Trump is a businessman so he probably knows that it will be beneficial if he will accept btc instead of denouncing it. A lotnof people are using btc anyways to why not make money out of it.

There is enough integration in some markets, both internet and local, that if the government was going to do more than deep regulation at the exchange level, it would have.  Plus, once some of the small bits and worked out and a large corporation comes along and deeply integrates the payment system, the pressure on Congress will keep the noise about banning Bitcoin/Crypto in the US to the steady roar of the unhappy that never gets anything done and still keeps roaring.

That's because Trump is a businessman he will never go to America has officially recognized bitcoin. If we assume that bitcoin is indeed a bubble, it could put at serious risk the entire economy of America. Who will take such a risk?

In the American bitcoin users are not as popular as in japan but now Usa has received bitcoin but can not be unveiled so only people who know only who can use bitcoin.

They will not embrace it I think... why should they? they are already showing signs of wanting to ban it with draconian laws. They want to force people to disclose all of their crypto holdings if they are traveling with more than 10K worth of crypto. Coinbase and the rest are getting increasingly harsh and monitoring everything and treating everyone as potential drug dealers. Ridiculous yes... but unfortunately get used to that because it will only get worse.

USA is a liberal and free country and bitcoin is really helping a lot of people from poverty and giving job to the citizens during the crisis, I think the government will allowed the bitcoin usage because it is helping the country from falling down and even the US president is supporting the bitcoin

As long as Donald Trump keeps presidency of USA, bitcoin can't get any legal status of sign from there. Forget about it. Trump is very centralised model, so he never lets a decentralised groundbreaking thing to overcome economic problems.

I think that they will definitely try to ban it altogether, the NSA thinks that everything is a security issue.

As we have seen, other countries are much more open minded than the US government. If they wanted to embrace bitcoin technoolgy then honestly they could have done it long ago and became the first country to do so. But they didn't like the idea, apparently.

Agreed. Trump isn't someone that particularly likes the idea of a decentralized means of escaping his totalitarian rule democracy.

That is why not all the countries are accepting bitcoin because they don't like decentralization because it is like having powerless in your country and bitcoin is all about that and like Donald Trump some of the presidents or the leaders of the countries doesn't like bitcoin because of that and the only thing that we can do is to obey but i still believe that there is possibility for bitcoin to get legalized in the world.

In my opinion, bitcoin will sooner or later be accepted by the US, because Japan has received bitcoint and Japanese bitcoin users are very high, unlike in the US where only a handful of them know and continue to live it, and I think if the US User bitcoin keeps growing . The taste of Bitcoin will be accepted by the US sooner or later, as we know today, bitcoin has a huge impact on the economy in the modern world, I'm sure it must be felt by the US. Due to the rapid development of bitcoin, and supported by stable market prices

What about stable market prices, you say? Look at the chart of bitcoin prices. You call that stability? I don't share your optimism. The US will never recognize bitcoin and it is right for the economy. The maximum that the state can do is to levy a tax on users of bitcoins. Why should you?

The US already openly accepts Bitcoin.

Of course that could be an underhand way of them manipulating the future of it (which is very likely as regulations get enforces better), but it's good enough that people can still use Bitcoin safely there.

If you can't handle the pressure of governments, just use a mixer.

The USA will never accept something that they cant control and am sure they are not going to accept bitcoins since they have no control over it and they dont have any means to monitor how the whole process goes about.

I think USA will embrace it because usa is the country where the people are aware of the importance and value of bitcoin they are trading in bitcoin and they don’t want to destroy there trade and on other  side the world is going to digital  so I don’t think that USA will denounce bitcoin.

USA adopted bitcoin already and so they already have approved the use of it publicly. I think they transaction in Us is already smooth even in government status. We hope every country will do the same thing

We already got Japan. Then sout korea is coming also. Then Australia, then I expect many more countries. USA doesn't want to accept bitcoin but they will also have to accept it naturally after other counties' acceptance.

You're wrong there , they already accepting bitcoins as like as the previous said they have tax on it even they can't control it they still have commission and i think that is basing on how much you earn or you will withdraw so the tax will be given . .As far as i know they have a legalization process for its users to register in a particular site .

One day or the other,USA would have to accept bitcoin.Early china and russia tried to ban bitcoins but after they failed to do it,they started regulating bitcoin.Japan has legalized bitcoin and south korea and india are discussing to legalize bitcoins and most of the countries are ready to join the rally.So,USA would have no other option in future oyher than accepting bitcoins.

The American government with donald trump president is very difficult to predict. Things can happen unexpectedly, but I think bitcoin would be hard to get official for the United States because it could make weaken the dollar.

USA doesn’t want to accept bitcoin being a currency because USA has a fear the bitcoin might not defeat US$ in the market and how a country hand over his power to someone. Instead of accepting bitcoin a currency USA will work through propaganda to demoralize bitcoin across the world. USA is fully aware of bitcoin popularity and know that bitcoin is the only competitor of US$ and USA also believe that bitcoin can defeat US$.

I think at this time, the US authority in charge of crypto currencies have come with a position and we all know where it aligned which is they won't allow bitcoin but they cannot stop it, so they come with policies to make it difficult for its penetration but at the same time doing it legitimately by hiding that the interest of the citizens is in their heart which is something I could bring out of the recent release by SEC.

what does that mean by 'accepted by usa' ?
are you talking about regulation ? well,it has a possibilities but for now it's too early for Bitcoin.
so far,i heard USA people (most of them) not seeing Bitcoin as an assets because it's really unstable,
we can see it based on Bitcoin price,and other problem is bitcoin mostly used for money laundry and gambling.
only a few people using this as a payment point,and it's really hard to track,
possibilites ? it may be have a possibilites to be accepted in the USA,but we need more time around 10 years or so

Bitcoin will make America great again, the FED will be over, no more criminals printing money. Trump will have no choice to accept it soon or later. Joking
I think they will only accept IF they can have some control on it, with regulations for their country. Or if they have an interest by accepting it (money or something else)

If they already design a system where they can access it and have a control on it they might consider it. When they got the access they can put tax on it. Or somehow they might studying now how Japan implements ot. Woukd it be helpful or not. Since btc were used in illegal transaction mostly in America before that makes them banning it.

USA is a big country. I think bitcoin will be received in that country. Because many people are trading on bitcoins. This will make USA to accept bitcoin. Not just in the USA I think in every country will receive bitcoin. Because bitcoin has a very good investment value. This will make a profit for every country. Especially if there is legality. Of course there will be income in the form of taxes. But it is technically necessary that can not get people to look for profit gaps in a way that is not true

This was really funny to read.  ;D Have you read other replies in this thread? I'm sorry I don't want to sound rude, but your post looks like you are a brainwashed citizen of an anti-American country. I'm sure you are not, it only looks like that.  :)

In short, USA is starting to accept bitcoin already and I'm sure it will be among the first countries who accept bitcoin entirely.

There is a big possibility that eventually USA will recognize Bitcoin in exchange for some solid regulations in placed as they want to protect the consumers from being scammed (nice intention) but giving leeway for the growth of the cryptocurrency market. Though right now it is not illegal to hold Bitcoin if you are a USA citizen but you need to declare any earnings you receive from a Bitcoin transaction.

I think they will eventually have to embrace it - however - the US Dollar is widely backed and supported by the Trillionaire Rothschild families and entities and they do not take kindly to things that cut into their bottom line.   I believe they will initially create a media spin factory denouncing Bitcoin, but it is such a non-stoppable power that they will eventually have to embrace it.

Bitcoin is already accepted in some large cities in U.S.A such as New York and San Francisco. As a matter of fact, some of well-known companies in there are already embraced and used it. But they still have hesitation in trully accepting it. Maybe because the America is worried about the system of the bitcoin and how will it affect the future of dollars, transactions, payments and people.

Bitcoin will be accepted i guess day by day people using bitcoin is increasing and i think us government will gonna prevent it i think they will embrace if they see the potential of bitcoin and i think some states in US already embrace it and finally recognized bitcoin.