US Government Nowhere Close to Regulating Bitcoin

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DooKey

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According to the US cybersecurity czar, Rob Joyce, the US government has a long way to go before it starts regulating bitcoin. He believes the government needs to understand all the benefits and risks of the cryptocurrency first. However, he did note that the bitcoin trail is hard to follow and some kind of tool/technology needs to be put into place to do that. So breathe deep cryptocurrency users because Uncle Sam isn't ready to ban it yet.

Joyce's comments echoed those of U.S. Treasury Secretary Steven Mnuchin, who said during a conference at Davos in January that his number one concern on bitcoin was its use in criminal activity.
 

Cyraxx

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two words.

Death and taxes.


Those are the only things you can guarantee will happen in life.... and right now, a shitload of people aren't paying their taxes. They might be behind but they aren't as far as you're hoping.
 

oldmanbal

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The whole point of Bitcoin, and many other cyrpto currencies is to have anonymous transactions. Creating tools that eradicate this specific benefit will literally invalidate that individual cypto currency. If we woke up tomorrow and the government announced that they could track every bitcoin transaction, you would see it's value plummet to a number somewhere between zero and and atom.
 

~CS~

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The whole point of Bitcoin, and many other cyrpto currencies is to have anonymous transactions. Creating tools that eradicate this specific benefit will literally invalidate that individual cypto currency. If we woke up tomorrow and the government announced that they could track every bitcoin transaction, you would see it's value plummet to a number somewhere between zero and and atom.

That's nonsense, transparency is important for commerce, and Bitcoin is a public ledger. A very secure public ledger, Bitcoin cannot be banned in the US as that would infringe on basic rights of Americans. It's also cannot be banned fundamentally because it is decentralized.
 

~CS~

Gawd
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What right is that? And where in the Constitution or case law did you find it?

Answer me this, if two people are using bitcoin to buy and sell baseball cards, what basis does US government have to tell them to stop?
 

tetris42

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Bitcoin cannot be banned in the US as that would infringe on basic rights of Americans.
Uh, what? Don't get me wrong, I don't think the government is going to ban bitcoin, and even if they did, they couldn't STOP bitcoin, but exactly what basic right of Americans are you referring to?
 

~CS~

Gawd
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Yeah, ok. Then answer my question. What basis does US government has to stop anyone from using bitcoin. Next you are going to tell me, that government can ban use of computers, because it suits them?
 

pcgeekesq

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Yeah, ok. Then answer my question. What basis does US government has to stop anyone from using bitcoin. Next you are going to tell me, that government can ban use of computers, because it suits them?

Under the rather expansive interpretation of the Commerce Claws (intentional misspelling) favored by big-government liberals, the Federal government could indeed ban private use of computers that might be connected to the internet or otherwise affect interstate commerce. After all, the Commerce Clause was used to uphold a federal ban on a farmer feeding the grain he himself grew to the cows he himself was raising. And yeah, they can ban bitcoin under the same Commerce Clause, if they want to, justifying it as as necessary to preserve the income tax system and as an anti-crime measure.
 

Krenum

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Do not believe a word they say, they are paid liers, ALL of them. if they don't obey, they get fired.

And yes, any malus that is attached to cryptocurrencies is also attached to any Fiat currency.

Whom do you punish, the one who did it or the one who told you ? Greetings from the greek philosophers.

If he follows that "crime" thing further. HEY FUCKER LISTEN, 17 kids just got shot again ! Take those damn guns away 1st before I ever trust any word out of your foul mouth.

Liers, from A-Z

I will pray for BTC, all my thoughts and wishes are with Bitcoin, I pray, every night ! Those are his words, just a bit altered.

"My prayers are with you" I say " FUCK YOU LIER"

wtf......


Anyways, I hope the US Government does ban it.
 

~CS~

Gawd
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I gotta ask is anyone who is against bitcoin not over 50? Have any of you ever considered moving to a totalitarian country? I hear North Korea is a great destination.
 

~CS~

Gawd
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Under the rather expansive interpretation of the Commerce Claws (intentional misspelling) favored by big-government liberals, the Federal government could indeed ban private use of computers that might be connected to the internet or otherwise affect interstate commerce. After all, the Commerce Clause was used to uphold a federal ban on a farmer feeding the grain he himself grew to the cows he himself was raising. And yeah, they can ban bitcoin under the same Commerce Clause, if they want to, justifying it as as necessary to preserve the income tax system and as an anti-crime measure.

Nonsense.
 

tetris42

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"Liberty" as a concept isn't protected by the constituion, only specific liberties are. Your liberties are curtailed all the time and the government is fully free to limit them further, they just have to go through due process first. I think you're a bit drunk on the propaganda.
 
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