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CryptoCurrencyInc.com (OP)
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June 07, 2014, 11:02:27 AM
Last edit: June 07, 2014, 11:13:15 AM by CryptoCurrencyInc.com |
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bryant.coleman
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June 07, 2014, 12:01:00 PM |
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Well... some of the states such as Texas and California has taken steps to legalize Bitcoin. So it is too early to say that the Future of Bitcoin is not in the US. US will play an important role, as long as the majority of Bitcoin users are located there.  Also, the figures given in that article are dubious. The CNY-BTC exchange volumes are taken from exchange sites such as OKCoin, who are accused of inflating their trade volumes.  |
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Beliathon
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June 07, 2014, 12:04:46 PM |
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The future of Bitcoin is not in the US, you're right. But that's only because in the future, the US (and all other nation-states) will exist inside the Bitcoin (sovereign) economy.
Bitcoin is the beginning of the end for the nation-state as we know it, and that's good for everyone who likes reason more than violence, and peace more than war.
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Este Nuno
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amarha
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June 07, 2014, 01:17:57 PM |
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Per capita downloads mean nothing really. China and the US are and are going to continue to be the biggest users of bitcoin and other cryptocurrencies overall by a long shot. It's great that bitcoin is so popular in some of those countries but that alone doesn't mean particularly much. |
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Beliathon
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June 07, 2014, 01:27:15 PM |
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Per capita downloads mean nothing really. Especially when you consider that the US is really two nations in one. The cutting edge coastal cities of the east and west coast, and the sleeping giant of the middle country and most of the south. |
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shawshankinmate37927
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June 07, 2014, 01:30:14 PM |
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Well... some of the states such as Texas and California has taken steps to legalize Bitcoin. So it is too early to say that the Future of Bitcoin is not in the US. US will play an important role, as long as the majority of Bitcoin users are located there. I live in California and I can assure you that Bitcoin is already legal here. There are several Bitcoin businesses, including Coinbase, located in California. Bitcoins were never made illegal here. |
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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CoinRocka
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June 07, 2014, 01:56:16 PM |
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I would make a rebuttal to your claim and say the US is in a place where it doesn't need to make a switch from FIAT in the short term. 10-15 yrs maybe. Other countries are not as fortunate.
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acs267
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June 07, 2014, 02:20:42 PM |
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What the fuck are you smoking? US and China are one of the biggest users of Bitcoin. Some of the big cities have already started using it more often, and as people stated before, CA and TX have already started to legalize. I'd more so say China might not hold Bitcoin, since they censor history, so hell, why not censor a currency?
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Este Nuno
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amarha
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June 07, 2014, 02:26:31 PM |
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Well... some of the states such as Texas and California has taken steps to legalize Bitcoin. So it is too early to say that the Future of Bitcoin is not in the US. US will play an important role, as long as the majority of Bitcoin users are located there. I live in California and I can assure you that Bitcoin is already legal here. There are several Bitcoin businesses, including Coinbase, located in California. Bitcoins were never made illegal here. I'm sure there is lots of bitcoin commerce going on in California at the moment, but from reading this thread( https://bitcointalk.org/index.php?topic=464149.msg5129518#msg5129518 it appears that California does actually have a odd technicality law in place that makes bitcoin illegal. |
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Beliathon
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June 07, 2014, 02:50:11 PM |
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...since they censor history, so hell, why not censor a currency? All nation-states censor history by necessity. If they were honest about their history to their children, the state would be abolished in one or two generations. Nation-states must employ hierarchy-based violence in order to continue to exist. In an honest nation, any reasonable human being would see that this is selfish, cruel, and utterly unjustifiable behavior. "The most dangerous man, to any government, is the man who is able to think things out for himself... Almost inevitably, he comes to the conclusion that the government he lives under is dishonest, insane, and intolerable." -H. L. Mencken, The Smart Set, December 1919 |
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shawshankinmate37927
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June 07, 2014, 03:01:23 PM |
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I live in California and I can assure you that Bitcoin is already legal here. There are several Bitcoin businesses, including Coinbase, located in California. Bitcoins were never made illegal here.
I'm sure there is lots of bitcoin commerce going on in California at the moment, but from reading this thread( https://bitcointalk.org/index.php?topic=464149.msg5129518#msg5129518 it appears that California does actually have a odd technicality law in place that makes bitcoin illegal. Apparently, the California law states that only "lawful money of the United States" can be used in California. FinCEN determined last year that using Bitcoin does not violate any laws, which should make it "lawful". |
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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bryant.coleman
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June 07, 2014, 03:17:56 PM |
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I live in California and I can assure you that Bitcoin is already legal here. There are several Bitcoin businesses, including Coinbase, located in California. Bitcoins were never made illegal here.
That is a bit confusing. From what I have heard, Bitcoins were in the grey zone. That is, there were no laws and regulations dealing specifically with Bitcoins and other crypto-coins. |
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Ron~Popeil
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June 07, 2014, 03:24:55 PM |
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I would like to see it become less US centric. Of course melting the biggest fiat currency first has advantages.
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TheGambler
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June 07, 2014, 03:26:24 PM |
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Bitcoin should be worldwide
It would be the first non-us centric currency but I doubt it could just escape the US hold
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shawshankinmate37927
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June 07, 2014, 03:29:27 PM |
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That is a bit confusing. From what I have heard, Bitcoins were in the grey zone. That is, there were no laws and regulations dealing specifically with Bitcoins and other crypto-coins.
In the US, we don't have to have laws to make something legal, unless there was previously a law making it illegal. No one has been prosecuted, much less convicted, for using bitcoins in California. |
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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jc01480
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June 07, 2014, 03:47:57 PM |
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Given the current rulings in criminal and civil courts, there is an argument to be made that crypto is all that money is. The legal recognition of it will be just as bumpy a ride as the crypto is volatile.
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allthingsluxury
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June 07, 2014, 03:51:17 PM |
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Time will tell. I believe it is still up in the air.
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TheGambler
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June 07, 2014, 03:53:28 PM |
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Given the current rulings in criminal and civil courts, there is an argument to be made that crypto is all that money is. The legal recognition of it will be just as bumpy a ride as the crypto is volatile.
It's certainly died down from what it used to be...from what I can see anyway? |
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shawshankinmate37927
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June 07, 2014, 03:53:34 PM |
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Given the current rulings in criminal and civil courts, there is an argument to be made that crypto is all that money is. The legal recognition of it will be just as bumpy a ride as the crypto is volatile.
Even if politicians make Bitcoin illegal, it will thrive in other jurisdictions that don't make it illegal, and in the black markets. |
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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jc01480
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June 07, 2014, 03:59:06 PM |
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Given the current rulings in criminal and civil courts, there is an argument to be made that crypto is all that money is. The legal recognition of it will be just as bumpy a ride as the crypto is volatile.
Even if politicians make Bitcoin illegal, it will thrive in other jurisdictions that don't make it illegal, and in the black markets. I think most legislators understand this and want to be progressive in doing the right thing as opposed to being negative and banning the (fear) of the unknown. It's like Dirty Dancing, only with money...lol Depending on their reaction, whether favorable or not, the lobbyists will then throw down their gauntlet and start trying to meddle. |
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