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Why do intelligent HNers spread this constant FUD that "governments will make Bitcoin illegal"? Seriously WTF? Fact: there are plenty of currency/commodity mar
by mrb 14y ago
Why do intelligent HNers spread this constant FUD that "governments will make Bitcoin illegal"? Seriously WTF?
Fact: there are plenty of currency/commodity markets (1) that the US government does not control and (2) that are used sometimes for illegal activities such as laundering, and yet the US government is perfectly fine with these markets existing and being legal because they are necessary for a healthy economy and are mostly used for legal activity. Two examples: gold (obviously the US does not "control" worldwide gold trades, and yet gold is often used for laundering), and foreign currencies (perfectly legal to hold and trade in the US, even those from countries with strained relationships with the US such as the Iranian rial, Burmese kyat, etc).
Supporting my viewpoint, the US Treasury Department, through FinCEN, has recently tacitly approved Bitcoin: http://www.businessinsider.com/is-bitcoin-legal-2013-4 http://www.businessinsider.com/is-bitcoin-legal-2013-4 It is obviously in the US' interest to let the Bitcoin economy grow, and merely get revenues from it by taxing trades, capital gains, etc.
This is not the first time I explain all this.