Topic: Newbie here (Read 476 times)
Hey and welcome. Someday maybe. We can only hope.
Welcome here.
You don't Know if btc is a currency or not. It Will depend on what you think
You don't Know if btc is a currency or not. It Will depend on what you think
I am absolutely sure that Bitcoin a great future. Fixed emission highlights btc between other currency. I also believe that Bitcoin will only get more expensive in the long run.
In a limited sense, Bitcoin is already a "legit" currency. People just have to continue to place value in it, make purchases with it, accept it as payment, and/or exchange it for other currencies.
I sure hope so
USA is unpredictable. They may decide anything. Whoever lines the politicians pockets the best
I'm not sure what you mean by "legit". If you mean accepted by governments as a competing currency to fiat currency, the answer is no way. If they recognize it as a true currency, it will spell the end of the central banking fiasco. My guess is that the central banks might collude to create their own form of digital currency, but one that is centrally managed. However, I can see this backfiring as it will lend credibility to Bitcoin and other cryptocurrencies. My best guess is that the U.S. government will declare it a commodity and have the CFTC make rules surrounding its use. And of course, if it is considered a commodity, any gain that comes from it (whether in USD or simply in the value the market places on it) will likely be subject to a tax on the appreciation. But how will this be enforced? I'm not sure it can be.
So, do you think Bitcoins will eventually be a legit currency?
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