Topic: The real reason American government hates Bitcoin - page 3. (Read 3758 times)
I sense relatively little 'hate' toward Bitcoin from the government or from various other sectors. Much less than I had anticipated given the nature of the Bitcoin system. For the most part it seems like most elements within the government and in various other power spheres (media, various corporate sectors, etc) simply have a sense of wonder and bafflement more than anything. Those who thought that regulatory bodies, law enforcement, etc were going to somehow stop trying to do their jobs, or that that should be their reaction to Bitcoin were being unrealistic. I'm surprised at the U.S. flexibility so far.
That said, I was blown away by the relatively neutral reaction of the Chinese govt half a year ago. We see now how quickly things snapped back. The best hypothesis I can see is that I overestimated the amount of coordination within the Chinese central government and there are a different blocks with different ideas about policy and different levels of influence. My suspicion is that the U.S. govt is a bit more 'tight' in this respect but the same dynamics are at play here as well. I would not be surprised to see significant shifts in the level of tolerance towards Bitcoin which is expressed, and see them happen fairly rapidly under certain sets of conditions.
They cannot print "In God We Trust" on bitcoins.
I always thought "In ESCDA and SHA256 We Trust" would be a more appropriate motto.
But seriously, why do you think the government hates bitcoin? I see the government attempting to regulate it, so it doesn't become a method to break existing tax evasion/money laundering laws, but nothing more onerous than what it already applies to existing payment methods or bartering systems. You would still get reported to the IRS if you deposited $10,000 worth of cash to your bank account vs. a transfer of $10,000 of USD from a bitcoin exchange.
Because in a post BTC world, you don't but 10K fiat into your bank account, you pay in BTC
And if you buy a nice car with $10K in BTC, the car dealer would still have to report you as if you bought it with cash. I'm not saying it's right, but I don't see how it is a narrow attack on transacting in bitcoin versus transacting in cash.
They cannot print "In God We Trust" on bitcoins.
Given how much American government hates God, I rather doubt that is the reason. They'd yank that off their fiat today if they thought they could get away with it. They cannot print "In God We Trust" on bitcoins.
I always thought "In ESCDA and SHA256 We Trust" would be a more appropriate motto.
But seriously, why do you think the government hates bitcoin? I see the government attempting to regulate it, so it doesn't become a method to break existing tax evasion/money laundering laws, but nothing more onerous than what it already applies to existing payment methods or bartering systems. You would still get reported to the IRS if you deposited $10,000 worth of cash to your bank account vs. a transfer of $10,000 of USD from a bitcoin exchange.
Because in a post BTC world, you don't but 10K fiat into your bank account, you pay in BTC
They cannot print "In God We Trust" on bitcoins.
I always thought "In ESCDA and SHA256 We Trust" would be a more appropriate motto.
But seriously, why do you think the government hates bitcoin? I see the government attempting to regulate it, so it doesn't become a method to break existing tax evasion/money laundering laws, but nothing more onerous than what it already applies to existing payment methods or bartering systems. You would still get reported to the IRS if you deposited $10,000 worth of cash to your bank account vs. a transfer of $10,000 of USD from a bitcoin exchange.
what about :"In satoshi we trust " 
They cannot print "In God We Trust" on bitcoins.
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