At Senate hearings last November the Department of Justice said that Bitcoin could be “legal means of exchange” and Chairman of the Federal Reserve, Ben Bernanke noted that Bitcoin “holds long term promise.”

These statements don’t amount to legitimizing Bitcoin or giving it a pass, they mean Bitcoin can be controlled, co-opted, taxed and regulated.

Bitcoiners have the misguided belief that Bitcoin is impervious to government control because it is “decentralized” and “peer to peer”.

These Bitcoin prayer words give Bitcoiners a false sense of the crypto currency’s invincibility.

Here is what may be next:

http://smaulgld.com/here-comes-bitcoin-regulation/

Seems that when companies like Overstock "accept" Bitcoin they are actually selling Bitcoin as they don't hold them and immediately convert to fiat.
Thoughts http://smaulgld.com/will-greater-adoption-mean-higher-bitcoin-prices/