New Policy Including Bitcoin and Blockchain passes US Congress

[HabBear]

http://www.coindesk.com/blockchain-support-bill-passes-us-congress-vote/

Wow, huge move for acknowledgement and legetimization of Bitcoin, blockchain technology and the crypto currencies! The fact that another major (G8) government is acknowledging bitcoin indicates that they realize the currency is legit and has momentum.

"The measure is perhaps the most significant to emerge from Congress to date on the subject of digital currencies and blockchain tech."

Slow and steady progress is what we need. Not too much hype, just slow adoption. Regular mentions equals regular use (eventually).

Cheers all!

[Yakamoto]

http://www.coindesk.com/blockchain-support-bill-passes-us-congress-vote/

Wow, huge move for acknowledgement and legetimization of Bitcoin, blockchain technology and the crypto currencies! The fact that another major (G8) government is acknowledging bitcoin indicates that they realize the currency is legit and has momentum.

"The measure is perhaps the most significant to emerge from Congress to date on the subject of digital currencies and blockchain tech."

Slow and steady progress is what we need. Not too much hype, just slow adoption. Regular mentions equals regular use (eventually).

Cheers all!

They are choosing to say it has supportive language for digital currencies and the blockchain technology, however I personally don't think that it as supportive as they're saying to be honest. It probably is just making sure that most of the banks and so will be able to access blockchain technology and the government will look for heavily at digitizing a lot of things more than likely.

[yayayo]

Bitcoin doesn't need acknowledgement by those in charge. If it would, it would just be another type of fiat money. The elites are just adapting to the status quo, still thinking that they have significant influence on the cryptocurrency sector. When they think about "blockchain technology" they envision a bank-owned centralized token system that is just another Paypal 2.0. They are not really warming up to Bitcoin, the decentralized currency, because Bitcoin's success will bereave governments of the power to exert control over peoples finances. In fact it will be the downfall of all fiat-based power structures.

You should not confuse legitimacy with legality. These terms are not one and the same. Bitcoin use is perfectly legitimate from an ethical point of view, albeit if the governmental control freaks consider it legal remains unclear. Luckily that doesn't matter if we have a strong, decentralized technology. However privacy of transactions needs improvement imho to thwart potential blacklisting attempts.

ya.ya.yo!

[HabBear]

They are choosing to say it has supportive language for digital currencies and the blockchain technology, however I personally don't think that it as supportive as they're saying to be honest. It probably is just making sure that most of the banks and so will be able to access blockchain technology and the government will look for heavily at digitizing a lot of things more than likely.

I agree with that. There's a lot for the financial and government system to gain by using blockchain technology. Not nearly as much to gain by their use of Bitcoin, but mostly due to the currency exchange risk associated with Bticoin.

According to an article from Bitcoin Magazine (link below), the US is actually falling behind the rest of the world in Bitcoin regulation. I suppose this is a good thing though, we don't really want more rules over how we use Bitcoin. We just want the major players to recognize that Bitcoin is something that exists and is valuable.

https://bitcoinmagazine.com/articles/the-united-states-is-falling-behind-in-bitcoin-regulation-1461604211

You should not confuse legitimacy with legality.

Agreed (and I don't confuse the two). All Bitcoin needs to exist is a community of people who agree that it has value and use it in exchange for goods and services or store of value. One of the underlying points of Bitcoin is that it does not seek Government approval.

[Wind_FURY]

http://www.coindesk.com/blockchain-support-bill-passes-us-congress-vote/

Wow, huge move for acknowledgement and legetimization of Bitcoin, blockchain technology and the crypto currencies! The fact that another major (G8) government is acknowledging bitcoin indicates that they realize the currency is legit and has momentum.

"The measure is perhaps the most significant to emerge from Congress to date on the subject of digital currencies and blockchain tech."

Slow and steady progress is what we need. Not too much hype, just slow adoption. Regular mentions equals regular use (eventually).

Cheers all!

I would not be too excited about that. When the government makes a move that makes you think it is on your favor, you should beware. By "legitimizing" bitcoin and giving it "form", they will make other laws to make it something as they want it to be and how to regulate it. That will give bitcoin borders and limitations when it was supposed to have none. I do not exactly how everything will turn out but when there is government intervention, it is not always good.

[Japinat]

Now, they are force to make a law because they are alarm with the increasing users of bitcoin, I hope it will be for the benefits of the majority and no wonder the price is increasing because of the great news here.

[~Bitcoin~]

This is proof that even law/government can't stop what community support the most. Bitcoin is loved by every community that have used it for even first time, so it will be not a surprise to see every country starting to accept uses of bitcoin legally.

[davis196]

http://www.coindesk.com/blockchain-support-bill-passes-us-congress-vote/

Wow, huge move for acknowledgement and legetimization of Bitcoin, blockchain technology and the crypto currencies! The fact that another major (G8) government is acknowledging bitcoin indicates that they realize the currency is legit and has momentum.

"The measure is perhaps the most significant to emerge from Congress to date on the subject of digital currencies and blockchain tech."

Slow and steady progress is what we need. Not too much hype, just slow adoption. Regular mentions equals regular use (eventually).

Cheers all!

Yeah,i agree.We need stable progress without hype and big expectations.

If the US congress legitimize bitcoinand the blockchain it will be a huge victory for the btc community.

Let`s hope that this will really happen.

[HeroCat]

That means in medium term Bitcoin can be implemented in USA, the question is how Bitcoin will implemented ? Most possible, it is just paper work and nothing more. When banks will start implement Bitcoins, then it will be something real, not just paper document.