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I've often said that the US government can, and will, outlaw crypto if it starts to feel threatened. It may not absolutely stop transactions, but the value of t
by klmadfejno 6y ago
I've often said that the US government can, and will, outlaw crypto if it starts to feel threatened. It may not absolutely stop transactions, but the value of the coin will plummet tremendously if this happens.
However... if a sufficient scale of corporate interests stand to lose billions of dollars from the coin plummeting in value due to legal action I might rethink the viability of doing such a move politically.
- kruxigt 6y agoThat's exactly why I got enough confidence to finally make a bet on Bitcoin after Tesla (and a few other large companies) put significant numbers in it.
- alwillis 6y agoI've often said that the US government can, and will, outlaw crypto if it starts to feel threatened. That's not going to happen. Code and money are speech and bitcoin is both. Outlawing bitcoin would be unconstitutional. It would be one of the easiest cases the Supreme Court ever had. It’s treated as property by the IRS and a commodity by the CFTC and exchanges are regulated by the SEC. The US government has already approved it.
- klmadfejno 6y ago> It’s treated as property by the IRS and a commodity by the CFTC and exchanges are regulated by the SEC. The US government has already approved it. There are commodities that have become illegal.