Topic: The next bitcoin boom phase will be driven by the USA. (Read 4186 times)

Wow dense...
The World Wide Web has been invented at CERN (Switzerland).

I don't know what you refer to by the term "car" but the first modern engine has been invented in Germany named "Ottomotor" as well as the first jet plane.

Airplanes have been invented by "Sir George Cayley" in England.

Bitcoin was also not invented in the USA. Americans are good at copying existing innovations nothing more. Now go on the street with a patriotism USA flag.

Nicely written article that I 100% agree with.

Very, very nice call 

It's really unclear what Russia's stance is. They *may* pass a law that imposes fines for using bitcoin in any way. Or not. We'll see.

As far as the US goes, the laws aren't "strict" for consumers. Owning and using bitcoin is not a problem. You get taxed on any capital-gains you may experience while holding bitcoin, but that's to be expected.

Where it gets ugly in the US is if you're running a financial service that uses bitcoin. If the business qualifies as a Money Services Business, you need to get separate licensing in every state in which you operate (ie, if you serve customers who reside in a given state), and that's very time consuming and expensive. Furthermore, in many cases, it's not even clear what businesses are classified as MSBs. Hopefully New York State's BitLicense proposal will clear some of that up, and potentially also trigger some convergence of money-transmission licensing rules between states, at least for digital currency businesses. We'll see.

But aren't the laws the strictest in US and Russia as well ?

When the Coinbase exchanges goes live in 12 hour or so bitcoin will definitely hit 300 or so. Its about time we have major news to pump up bitcoin 

Looks like it was Coinbase:
http://www.wsj.com/articles/first-u-s-bitcoin-exchange-set-to-open-1422221641

I'm a little late to this discussion, but I actually gave a presentation about Bitcoin and surety bonds at the Inside Bitcoins Las Vegas conference in December. A bonding solution is already available and you're correct, it is the well-funded entities mentioned that I'm working with. It's a long road, but the companies that can weather the storm, will come out on top.

I've also written about the topic on www.msbtalk.com.

I have to agree, I know if Bitcoin get successfull the price can go over 100K
It is not about price, but about Bitcoin usefullness, when I see the number of miners and money put in mining equipment, I have little doubt about Bitcoin future

Yep I'm actively promoting it

We brought apartheid, orange carrots, colonized half the planet, sold your New York to the english for Suriname and we even sold tulips for more money than a street in Amsterdam .... we're definately into bitcoin

'Merica

For Bitcoin believers (i.e., us), I think this just comes down to an argument over what does "a long way off" mean? The Winklevii didn't give a timescale. A $1 million dollars per bitcoin (in today's dollars) does make sense as a kind of final, equilibrium valuation, and Bitcoin would need to have won all of the political, economic and technological battles for that to occur. Is it... 10 years away? 50 years away? 150 years away? $40k per bitcoin seems like a reasonable 5-10 year target (to me). $1 million per bitcoin could take over 50 years I think... major upheavals would need to have occurred and settled before we get to that point.

Well, they don't actually have a fund, yet. That'll probably take a while (years?) to get approved, if ever. More likely that the first bitcoin-ETF we get comes from an already well-established firm producing and managing similar products.

But $40k/btc is not particularly conservative. And they even say they consider it a "small bull-case scenario". So they're thinking higher as their target success-case. But really think about what higher than $40k/btc would mean. That'd mean a market-cap of >$1T (at full 21m BTC issuance). As much of a long-term bitcoin bull as I am, I think the hurdles to getting significantly beyond that valuation are pretty high. Bitcoin would have to have fought, and won, many political battles, as well as the battles for mindshare among consumers, businesses, Wall St., etc.

Don't get me wrong - I think bitcoin is a powerful enough idea that these cases are theoretically possible, but I also think such success-cases, if they materialize, are necessarily a long way off.

They have an SEC fund.  They are forced to speak conservatively.

W8 , there are 150k+ bitcoin owners in the Netherlands?
Any source for this ? Cause I find it amazing

Also , I deeply believe that the EU zone will be the one that really drives mass adoption , not this speculation bubble in China!
We need real shops and real users , not day traders.

I reckon China's stance will also go some way towards encouraging India to do the opposite 

I hope that whatever is dragging down the value of BTC is sorted out first before we can realistically talk about any future boom.I do a few things to earn BTC and at the moment,the value of what I've earned so far has dropped (quite a bit since £510 GBP yesterday) more than I'd like so It's safe to say that this could be a bust cycle.

What I do hope for is much cheaper BTC to buy up as an investment (as I didn't really have the means to do this last time so I have to get it done this time),hold onto them and profit as much as I can (think that puts me in speculator/earner category for BTC users and a former miner)

I hope the US really starts to embrace BTC and update it's legal systems to accommodate it like I've seen in the EU for a few years now (I live in the UK which is part of the EU).I see the future with BTC and similar (online) currencies as they gave me new oppourtunuties to help me earn while still sorting out how to get my foot in the TV industry (it's very tough,I've tried a lot to apply,got rejected,started making something of myself in the meantime until I get that dream job in TV).

As for which country drives BTCs success I really couldn't care less as long as the value grows and BTC is a successful,thriving currency (which so far it has demonstrated)

True. Maybe I am biased as an american, but despite what the libertarians will tell you, this is still a very FREE country compared to many/most.  And America has made its history and fame on innovation. The internet started where? That's right. So did planes and cars and electricity etc. etc. etc.

So digital currency fits right in. We are a country driven not by manufacturing anymore but by investing in disruptive ideas and technology. 

America wants so badly to create, to matter in the world, that our leaders will not try to destroy bitcoin. We would rather brag about it.

I never ever felt comfortable with Bitcoin's reputation in the hands of communist China. Somewhat like Silk Road, I am pleased that China may be forced to take a back seat on the bitcoin express.

However, if any 2nd or 3rd world country like Cyprus would like to adopt BTC as their reserve currency then GO RIGHT AHEAD PLEASE and move to first class on this train.

With over 42% of the US population aware of bitcoin, it makes sense that Bitcoin should probably be an American thing. Nowhere else, except european countries (where the Dutch apparently have 1% of the population owning bitcoin) is bitcoin so popular. And the legal/political system so free. :-)

lol, dont be surprised if you dont get one.