Will Bitcoin be accepted by USA or will the US try to denounce or embrace?

[minion1000]

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

[Icculus.]

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

"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

[S4pta]

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

[VC George]

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

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.

[sweetdesirez]

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.

[bartolo]

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.

[Hydrogen]

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.

[mattermaster]

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.

[UCHCHILD]

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.

[pearlmen]

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

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.

[ilovefeetsmell]

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

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.

[asriloni]

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

"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

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.

[DrGuns4Hands]

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

[olubams]

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.

[Sled]

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.

[cafucafucafu]

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.

[virasog]

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.

[Mazt rhiezt]

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.

[xLittlegirly]

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

[audaciousbeing]

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.