USA Government Adopting Crypto?

[Pursuer]

regulation of the market has always been a goal and it is already partly in place, it is not like bitcoin and its market is 100% unregulated!!! so you can't say it is a new thing that they are suddenly looking into. additionally regulation doesn't mean adoption by the government not to mention that government does not adopt bitcoin, it is the regular people that do. even in Japan, government didn't adopt bitcoin they only regulated it and accepted bitcoin as a legal way of payment.

also I think it is too soon to be excited only after seeing an interview. "talks" don't matter as long as there is no action following them. lets get excited when more regulations were put in place and after we examined them to see if they are going to add restrictions and make things harder or are they going to make things easier. because it can easily go both ways.

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[1713542296]

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[CryptoGamblingSites]

It sounds like they are doing the same thing with bitcoin as the US debt issue 

Hoping that they will have a solution for bitcoin extracting fiat currency from everywhere while not being able to make a good argument against it as money.

The Fed said bitcoin is a speculative store of value like GOLD

https://www.youtube.com/watch?v=7k1ZaID6TOE

They do not want every company creating a currency to then offer their good and services. We dont need Amazon coin, AppleCoin, Microsoft Coin etc...

Crypto Currency is NOT hard or expensive to create. Bitcoin can't be faked or just created out of thin air, it has to be mined using mathematical algorithms that all miners verify which miner mined the bitcoin.

It is WAY undervalued with all of this action from the Fed and White House recently, during what looks like an economic down turn period.

[SuperTA]

1. First They Ignore You

2. Then They Laugh At You

3. Then They Fight You

4. And Then You Win

[Lucius]

What a joke, this is good material for good laugh - there is no any adoption in anything Mnuchin is saying about bitcoin. He is starting with custom phrases about bitcoin : it is used for illegal activities "money laundering, terrorism" and after that he say that they (USA) want that US dollar stay world reserve currency and that they (you can read this as all our agencies, military, special departments) will do everything to stay that way.

There is nothing possitive in what USA is doing to any adoption of cryptocurrency, they are in war for US dollar dominance in the world. To do that they need to make weak Europe and weak China who are at this moment the greatest danger for them as the world's leading force.

[SuperTA]

there is no any adoption in anything Mnuchin is saying about bitcoin.
There is nothing possitive in what USA is doing to any adoption of cryptocurrency, .

Yes, not yet. There is no any adoption yet.  But if you watch the video and his answers, statements, body language...If you read between the lines, you know....you just know there is something happening. They can't just come and say - Hello people, from now on we're gonna use crypto and become cashless society. You just can't do that. You need first to prepare general public, slowly without any shock. To test them and see how they react. Slowly making regulations, making crypto legit and cut off everything that is bad, drug dealers, trafficing so you clean crypto and bitcoin and make it more legit. He didn't say anything bad. They will clean crypto from bad actors. Regulate. Dolar is dying. They know that. It can't be sustainable for a very long time. Btc is like digital gold. You can laugh at me, but i'm not ashamed to tell what i think and i still stand behind my words. This is my thinking. Maybe i'm wrong but at this moment i feel this way. I'm just telling my opinion. It costs nothing. I will listen to all other opinions as well. We are here to talk and express different opinions. At least i made you laugh  

[Lucius]

~snip~

I think US is feel threatened by Libra and they react like this just because of that, and this is just fight for their piece of cake. Bitcoin is something they still can control in different ways (Snowden show us for what they were capable of back in 2013), and fact that bitcoin market cap is less then $200 billion at this time telling us he does not represent a serious threat to the current financial system.

You see what they want to be seen, and you should know that Americans are maybe best actors in the world, so his statements or body language not necessarily mean that he really mean what he say.

You know what is really absurd in this story? It is like bitcoin is become dependent of what is some Donald or Mnuchin think about it, or what will SEC or IRS say. Bitcoin is first decentralized cryptocurrency, and by taking such things seriously we are moving from that.

[Pipdips]

1. First They Ignore You

2. Then They Laugh At You

3. Then They Fight You

4. And Then You Win

I hope you are right.

Todays news: "US is About to Crackdown on Entire Bitcoin Industry: Mati Greenspan"
https://www.newsbtc.com/2019/07/16/us-is-about-to-crackdown-on-entire-bitcoin-industry-mati-greenspan/

[prehisto]

1. This is just one guy.
2. There is completely no point of trying to tie news to btc movement in price, additionally this is very little piece of news.
3. Never say never, but - never gonna happen, USA will not adopt cryptos.

[pawanjain]

Being so optimistic about positive news is not the way you should think about certain things and especially crypto. Crypto has been in the spotlight for years now and such news has already been widespread in many countries.  Many people these days know what crypto is and the risks it involves. Though there are still many who don't have any idea about crytpo, the rest are still interested in the new technology.
So if the governments are still just concerned about the risks it involves then they are just lacking behind. The other countries have already started accepting crypto.
I must say, Japan is way beyond in this game and I am proud that Japan is leading the tech world.

[yoseph]

From what I can tell, the US Government's only concern when it comes to crypto currencies is that people don't use it for illegal activities like money laundering and terrorism financing,  as long as it's legit, it's okay with Uncle Sam.

[puertorikosena]

I think that despite the negative statements made by some politicians about cryptocurrency, now the ground is gradually being prepared for the large-scale introduction of digital money into human life on a national scale. It seems to me that this will happen in the next couple of years.

[jseverson]

You know what is really absurd in this story? It is like bitcoin is become dependent of what is some Donald or Mnuchin think about it, or what will SEC or IRS say. Bitcoin is first decentralized cryptocurrency, and by taking such things seriously we are moving from that.

It's not so much about being dependent as being vulnerable to actions they might take. Bitcoin itself will continue running like it always has thanks to its decentralized nature, but the way its users do their business (and the users themselves, even) could be drastically affected.

As much as it sucks, people in power will always have some amount of influence over the cryptospace because their decisions could ultimately drive users and businesses in, or away. They're not a roadblock to adoption as individuals can get away with dodging regulations, but mass adoption is a different case as not many people are comfortable with risking legal trouble. It's hard to blame people for being invested in issues like this.

[SuperTA]

There was a libra hearing at US house of representatives. Surprisingly for most of people it's positive for bitcoin and negative for libra. Anyone still laughing at me?  

This is going through complete validation process of bitcoin and crypto!

[samputin]

I don't get it. How in the world did you interpret this op? Trump clearly specified how Bitcoin is not money recently which is why I don't understand how you thought this could happen anytime soon.

It is possible that USA will adopt crypto, but this can happen only if BTC adoption levels reach insane highs as an alternative currency. This would probably reverse their views that BTC is harmful for their economy.

Same here. I thought Trump doesn't like cryptocurrencies because there are threads about him tweeting negatively about it. So why would their government adopt crypto right now? I'm just confused, you know. Maybe it's more of acknowledgement of crypto's existence. But adoption? Hmmm. I don't know.

[nutella_11]

Imo the government won't adopt crypto in the nearest future. This is too complicated. I know that for cryptocurrency geeks this is some kind of obstacle, but to me - they are right that this isn't a proper time to adopt cryptocurrencies officially

[cipherhut]

The USA government is creating a safe and scam-free environment for crypto by cutting down the fraught possibilities. USA government is creating a safer gateway for the crypto around them which will definitely give a boost to BTC accepting power.

[SuperTA]

Imo the government won't adopt crypto in the nearest future. This is too complicated. I know that for cryptocurrency geeks this is some kind of obstacle, but to me - they are right that this isn't a proper time to adopt cryptocurrencies officially

Who said in the near future? 

[muratsink]

I think that crypto adoption will be faster than the internet.  when that happens, adoption will require regulations to regulate each cycle of low and high transactions.  everyone will realize that crypto will affect every human economy.  in the end, the mainstream of BTC and crypto will be easily accepted by the public with easy access.

[KenRodriquest]

Steven Mnunchin (United States Secretary of the Treasury) surprised everyone with a press conference about the cryptocurrencies, Bitcoin and Libra. This is very interesting. In my opinion this is one of the first steps for a global adoption. I'm serious. Even if it doesn't look like at the first impression from the news and missleading titles. Mr. Mnunchin warned to be careful about cryptocurrencies and to do your own research. He also said that there's a lot of good things to invest (crypto). But that's what any professional trader would advise to other traders and investors. At the time of press, bitcoin started to rise in price! I think that we might be at the begining of something big. I personally think the world is gonna slowly adopt cryptocurrencies and this is just a start of a global recognition. They took crypto very seriously. It looks like it might be regulated and adopted in the future. Please watch the video, cuz i think the news are missleading.

1. He said that their first main concern is that they don't want any bad users to use cryptocurrencies. (This sounds like they want crypto to be legit and regulated, maybe even adopted.)

2. He said that they will make sure that the general public and investors understand what are they investing in.

What about the president of the United States that is looking very highly in US dollars? What can you say about his opinion with regards to cryptocurrency?