[2018-07-14] Is America working to be great again in bitcoin?

[bbc.reporter]

I reckon America's slow renewed acceptance of bitcoin mining, trading and commerce will make the country the leader in cryptospace dominance. I also reckon that it will make America great again hehehe.

In any case, the biggest loser is China. Their chance for cryptospace dominace fell on their lap, but what did they do? They will play catch up again.



July 12, 2018, state regulators approved a new billing framework that permits a local utility supplier in Massena to review individual supply contracts in a way that shields other users from price changes. Under this framework, mining operations will be able to individually negotiate their supply contracts and prices, which gives them a route out of the blanket increase for miners that was approved earlier.

In a statement released on July 12, New York State Department of Public Service Chair John Rhodes said:

“We must ensure that business customers pay a fair price for the electricity that they consume. However, given the abundance of low-cost electricity in Upstate New York, there is an opportunity to serve the needs of existing customers and to encourage economic development in the region.”

Read in full https://btcmanager.com/new-york-looks-to-attract-cryptocurrency-miners-with-new-electricity-tariffs/

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[bbc.reporter]

There is more movement to make America great again in bitcoin.

What China should be doing is reflect on how stupid they are for throwing out a good opportunity to be the bitcoin capital of the world. Now the American government is slowly welcoming the cryptospace and might use that to leverage themselves back to world economic might.



The US House of Representatives is giving Bitcoin and cryptocurrency a big boost by labeling digital currencies “the future of money” ahead of a key hearing on Capitol Hill.

The hearing will begin on Wednesday, July 18th and is expected to be livestreamed starting at 2:00pm EST. Lawmakers in the powerful Financial Services committee will host the event, which is titled “The Future of Money: Digital Currency.”

Read in full https://dailyhodl.com/2018/07/13/us-congress-calls-digital-currencies-the-future-of-money-ahead-of-key-hearing/

[cryptofonia]

Bannon invested hugely in crypto,  Bill Miller did the same (citing in Russian text https://cryptofonia.com/news/sredi-investorov-v-bitkoiny-lyudi-iz-okruzheniya-donalda-trampa/ )

[monocolor]

Bannon invested hugely in crypto,  Bill Miller did the same (citing in Russian text https://cryptofonia.com/news/sredi-investorov-v-bitkoiny-lyudi-iz-okruzheniya-donalda-trampa/ )

Not sure if this is real or fake news, if it is real the US government will be friendly to crypto...

[Yurkov]

The only thing that we could say in this moment is that China is now making some stupid moves cause they are just "losing" opportunity to be the main country connected to crypto so America could take advantage in this part of "future" economy.

[richardsNY]

The only thing that we could say in this moment is that China is now making some stupid moves cause they are just "losing" opportunity to be the main country connected to crypto so America could take advantage in this part of "future" economy.

I am actually happy that China isn't taking advantage of the crypto craze. If Japan remains the main player in crypto terms, it has all the potential to become a superpower in the next few decades. I however still think that China will return to the crypto space after they have figured out how to properly deal with it legally. If they wanted to get rid of everything related to crypto they would have taken care of the miners there as well. It may be that Bitmain has some power there to delay the process or completely be free to operate there for ever. We shouldn't underestimate how powerful they are politically....

[BitHodler]

It may be that Bitmain has some power there to delay the process or completely be free to operate there for ever. We shouldn't underestimate how powerful they are politically....

Bitmain is popping up everywhere, literally. Day by day they are gaining an upper hand in the altcoin part of the market as well, which is quite an interesting development. It's like a virus infecting this industry further and further.

If this continues, and there is no reason to think otherwise, they'll be one major single point of failure for everything this industry stands for. I really hope for some actual competition to boil up.

The only reason Bitmain manages to grow is because of how there isn't one single party capable of catching up on them yet. Their first mover advantage is paying off big time and there is no stop to this growth yet.

[bbc.reporter]

The only thing that we could say in this moment is that China is now making some stupid moves cause they are just "losing" opportunity to be the main country connected to crypto so America could take advantage in this part of "future" economy.

I am actually happy that China isn't taking advantage of the crypto craze. If Japan remains the main player in crypto terms, it has all the potential to become a superpower in the next few decades. I however still think that China will return to the crypto space after they have figured out how to properly deal with it legally. If they wanted to get rid of everything related to crypto they would have taken care of the miners there as well. It may be that Bitmain has some power there to delay the process or completely be free to operate there for ever. We shouldn't underestimate how powerful they are politically....

I reckon America is also very happy that China is not taking advantage of the crypto craze hehehe. What would have been used as a tool to have an advantage against them can be used possibly by them to have the advantage against China and other opposing countries on Trump's trade wars.

What if America, after setting up all the needed infrastructure for bitcoin in their country, starts requiring that trading with them should be in bitcoin?

[1Referee]

What if America, after setting up all the needed infrastructure for bitcoin in their country, starts requiring that trading with them should be in bitcoin?

It's quite possible that every government will start doing that.

If we ignore all the circus going on in the media, governments just hate each other, period. They however love doing business with countries as long as it is beneficial for themselves, but how can you trust a transfer of value between one country's financial system and the other? They at any time can rig the shit out of each other, but that's practically impossible with Bitcoin. It creates a trusted layer where value swaps algorithmically will be secured and transferred between the involved parties.

There is no face behind Bitcoin; who will you extort or whatever to force them to fork? This is no Ethereum where Vitalik openly admits to fork if he's forced to do so.

We are basically in the very early stage already with atomic swaps. I strongly believe that this will gain an incredible amount of momentum in the forthcoming years.

Bitcoin's decentralized consensus is the most powerful aspect of it. No other coin has it or will it ever have.

[richardsNY]

If we ignore all the circus going on in the media, governments just hate each other, period. They however love doing business with countries as long as it is beneficial for themselves, but how can you trust a transfer of value between one country's financial system and the other? They at any time can rig the shit out of each other, but that's practically impossible with Bitcoin. It creates a trusted layer where value swaps algorithmically will be secured and transferred between the involved parties.

That would be the cherry on the cake for every crypto enthusiast. The once considered fraud and scheme is settling itself deep into the legacy system, and I'm happy to see that. Currently certain tax departments allow you to pay your due taxes in Bitcoin, which is pretty badass if you ask me. They use a payment gateway to convert everything to fiat, but it's a first step. People aren't likely to spend thousands of their own money to pay due taxes, but allowing people to use Bitcoin significantly lowers the bar and makes it less of an obstacle. Technically paying $1000 in cash or $1000 in Bitcoin is the same, but psychologically it's different. Governments have done well by accepting Bitcoin payments.

[prehisto]

The only thing that we could say in this moment is that China is now making some stupid moves cause they are just "losing" opportunity to be the main country connected to crypto so America could take advantage in this part of "future" economy.

i do not think that China is completely and absolutely is just against cryptos in any form and usage.
I think that they are too smart to not recognize the huge potential, I think they are working on regulations and will make them public this year.

[bbc.reporter]

What if America, after setting up all the needed infrastructure for bitcoin in their country, starts requiring that trading with them should be in bitcoin?

It's quite possible that every government will start doing that.

If we ignore all the circus going on in the media, governments just hate each other, period. They however love doing business with countries as long as it is beneficial for themselves, but how can you trust a transfer of value between one country's financial system and the other? They at any time can rig the shit out of each other, but that's practically impossible with Bitcoin. It creates a trusted layer where value swaps algorithmically will be secured and transferred between the involved parties.

There is no face behind Bitcoin; who will you extort or whatever to force them to fork? This is no Ethereum where Vitalik openly admits to fork if he's forced to do so.

We are basically in the very early stage already with atomic swaps. I strongly believe that this will gain an incredible amount of momentum in the forthcoming years.

Bitcoin's decentralized consensus is the most powerful aspect of it. No other coin has it or will it ever have.

Yes, every government except China hehehe. They had the biggest advantage before the PBOC disrupted the prosperous bitcoin ecosystem in their country. Also, they did not stop there, the Chinese government is slowly pushing miners out of their country. They would have been the leader in the cryptospace if they were not so afraid.

[senin]

The only thing that we could say in this moment is that China is now making some stupid moves cause they are just "losing" opportunity to be the main country connected to crypto so America could take advantage in this part of "future" economy.

i do not think that China is completely and absolutely is just against cryptos in any form and usage.
I think that they are too smart to not recognize the huge potential, I think they are working on regulations and will make them public this year.

Nevertheless, there was information that China had developed a two-year program to completely ban decentralized crypto currency and its first stage expires in June next year. If this is so, then China will indeed lag behind the rest of the world's states on the introduction of the crypto currency. In any case, China itself has so far isolated itself from the world in the matter of the crypto currency. True, if they do not invent something new and their own.

[cryptofonia]

it's still worth to learn who is Satoshi Nakamoto... maybe Trump?