This could be a big WIN for an entire crpyto community - page 2.

adzino

copper member

Activity: 2968

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www.Crypto.Games: Multiple coins, multiple games

Quote from: Rengga Jati on July 28, 2020, 01:12:13 PM

However, doesn't this make Bitcoin not decentralized again? As we know, BTC is decentralized and it is full of anonymously. In the crypto world, the rules to regulate the BTC is needed because it will determine how people mostly stare on this crypto. however, after legalized, will it influence on how the systems of the coin? The fees, and also of course taxes? is there any clear explanation?

First of all, being decentralized doesn't mean that it is anonymous. Secondly, bitcoin is decentralized, which you are correct, but it is not anonymous. It more pseudonymous. It can always be tracked back to you if your transaction somehow gets linked to you. Google "bitcoin pseudonymous" and you will understand why and how it is not anonymous. If it was truly anonymous, people wouldn't be caught scamming or doing illegal activities.
If you are worried about taxes, most of the countries tax bitcoin gains. You probably don't know.

Pamadar

legendary

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Quote from: tycsols on July 28, 2020, 01:29:53 PM

Quote from: Sy on July 26, 2020, 07:14:27 AM

Court Rules Bitcoin Is a Form of “Money” Under Washington D.C. Money Transmitters Act
https://btcmanager.com/court-rules-bitcoin-money-washington-dc-money-transmitters-act/

IMO, this news could be huge news for the entire crypto community I think this will bring us one step closer to mass adoption. What do guys think?

I am happy that finally crypto is getting recognition all over the world, some friends have shared similar news from other countries and regions which is great to know as well.

It's a good news that will help the community, being recognized as currency it's an step away from full adoptions, it will create impact to entire industry.

Quote from: tycsols on July 28, 2020, 01:29:53 PM

So it simply tells us that looks like patience will pay out big time this time around as world is now welcoming crypto and money flow into crypto is expected to be huge by the end of the year.

Once there's new investors showing big support to this market, expect that it will be accompanied by more
interest to follow, outcome will be determine when
money flows around.

tycsols

member

Activity: 812

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BountyMarketCap

Quote from: Sy on July 26, 2020, 07:14:27 AM

Court Rules Bitcoin Is a Form of “Money” Under Washington D.C. Money Transmitters Act
https://btcmanager.com/court-rules-bitcoin-money-washington-dc-money-transmitters-act/

IMO, this news could be huge news for the entire crypto community I think this will bring us one step closer to mass adoption. What do guys think?

I am happy that finally crypto is getting recognition all over the world, some friends have shared similar news from other countries and regions which is great to know as well. So it simply tells us that looks like patience will pay out big time this time around as world is now welcoming crypto and money flow into crypto is expected to be huge by the end of the year.

Rengga Jati

hero member

Activity: 2072

Merit: 656

royalstarscasino.com

However, doesn't this make Bitcoin not decentralized again? As we know, BTC is decentralized and it is full of anonymously. In the crypto world, the rules to regulate the BTC is needed because it will determine how people mostly stare on this crypto. however, after legalized, will it influence on how the systems of the coin? The fees, and also of course taxes? is there any clear explanation?

jerrison

full member

Activity: 1442

Merit: 106

Quote from: Sy on July 26, 2020, 07:14:27 AM

Court Rules Bitcoin Is a Form of “Money” Under Washington D.C. Money Transmitters Act
https://btcmanager.com/court-rules-bitcoin-money-washington-dc-money-transmitters-act/

IMO, this news could be huge news for the entire crypto community I think this will bring us one step closer to mass adoption. What do guys think?

The US has been a major force in the war against the crypto space. till today, loads of projects give leave room for investors in the US to participate both in the capapcities of investors and also as people working for projects because of the standpoint of the US in the crypto space but with this new development, i think they will be seen as a great mover of the adoption of the technology.

adzino

copper member

Activity: 2968

Merit: 575

www.Crypto.Games: Multiple coins, multiple games

Just a state law that has been passed. Nothing to be excited about to be honest, but yeah it is a small step towards the total integration of crypto currencies into the monetary system. Putting crypto currencies under Washingtons money transmitter law means they are eventually looking forward to do something big with it. The biggest news is going to be the one where the country announces bitcoin as a legal tender

. But, one thing, it is going to be regulated at full scale!

LbtalkL

full member

Activity: 1176

Merit: 162

Nothing to be excited but this news can cause hype, I consider it as promotion for bitcoin, I guess this is one of the reason why we are on bullish right now. This past few weeks a lot of good news happens and announcement which are positive to the crypto community. News this days can really influence the market but be careful of bulltrap, what if some whales are just riding the news.

fortunecrypto

legendary

Activity: 2450

Merit: 1047

Quote from: Sy on July 26, 2020, 07:14:27 AM

Court Rules Bitcoin Is a Form of “Money” Under Washington D.C. Money Transmitters Act
https://btcmanager.com/court-rules-bitcoin-money-washington-dc-money-transmitters-act/

IMO, this news could be huge news for the entire crypto community I think this will bring us one step closer to mass adoption. What do guys think?

Can this ruling applied to other court cases outside of Washington DC, because it is clearly stated in the article

Quote

Peter Van Valkenburgh, director of research at Washington-based crypto and blockchain-focused non-profit Coin Center said the district court’s ruling means that bitcoin is treated as money only in the context of D.C.’s money transmission law.

I don't think it can be applied to other countries with similar cases it goes down on how the jury or judge appreciates the value of Cryptocurrency on other countries.

wywoc

full member

Activity: 335

Merit: 100

We have seen BTC rise from $ 9k to $ 11k in just over a day when this news came out. The market is becoming more positive, is that a sign of an upcoming bull run? But if BTC is considered a currency, its users will be subject to tax and income management, it's not good for us.

Stedsm

legendary

Activity: 3052

Merit: 1273

Quote from: TGD on July 28, 2020, 11:51:35 AM

That will surely happened in the future once legalisation was approved. Maybe we will do KYC on our Bitcoin Address which many people scared to happened due to tax issue. We cannot attain mass adoption unless bitcoin will be approved as legal money or else it will be considered as virtual money made from thin air. There is a chance that many big time institutional investors will finally enter legally in crypto market.

First things first, Bitcoin will never be accepted as legal tender nor money but a form of money or an asset because of its volatile nature. Next, you said you'll do KYC on your BTC address? I believe we're already giving pretty much the information needed to trace us just by signing a message from an address to prove that it's ours. Don't you think that it's a proof somehow that's kept somewhere by us only and can help those big guys easily trace us?

tippytoes

sr. member

Activity: 1988

Merit: 275

Quote from: coinfinger on July 28, 2020, 11:22:58 AM

That’s indeed a news to celebrate. Cryptocurrencies getting legalized and regulated is a win for the whole market. Government would of course not leave the market open as it’s a bull (hard to control), it had to be regulated and contained in some way. Although, I strongly believe that cryptocurrencies should be traded as assets rather than form of money due to their high volatility and how people look at it as a form of investment.

This has surely brought the market one step closer to mass adoption and acceptance in the community. I just believe that we are in the beginning phase of people start understanding about the potential of cryptocurrencies; it means we can expect more number of people will be adopting cryptocurrencies in near future for some reasons like they may use it like paypal or like gold.

I strongly believe legal regulation is not required for cryptocurrencies to hit mainstream adoption still if that is happening that will definitely boost adoption of cryptocurrencies.

This move will give noncrypto users a sense of peace that bitcoin is not illegal thing. Because let's admit it, those noncrypto users who have no idea how crypto works have the notion that dealing with crypto is somewhat illegal in nature. With this regulation, they will come to know that crypto is not illegal after all. So this will give them an assurance that looking into it as payment option is really viable. Indeed we're looking at adoption here.

TGD

hero member

Activity: 1288

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Wen Rolex?

Quote from: Stedsm on July 28, 2020, 11:43:53 AM

I've never wanted any regulations whatsoever due to the facts that legalization will only lead us to requirements like making our transactions completely transparent and available to the higher authorities for tax purposes bs. But this is not what Bitcoin was made for. Anyways, it's an old debate these days and now I believe that involvement of global governments is equally needed here in order to let it survive because this is what we all want.

That will surely happened in the future once legalisation was approved. Maybe we will do KYC on our Bitcoin Address which many people scared to happened due to tax issue. We cannot attain mass adoption unless bitcoin will be approved as legal money or else it will be considered as virtual money made from thin air. There is a chance that many big time institutional investors will finally enter legally in crypto market.

Shallow

sr. member

Activity: 938

Merit: 255

SmartFi - EARN, LEND & TRADE

I think it is really a big boost for the crypto space because with this ruling it will change a lot of negative mindsets about crypto while paving way for more people to come in and hence mass adoption. Also, although this is a very good news, I also think that it will attract more of people who might bring in the idea of regulation of the crypto space; this is just my thoughts and I might be wrong as well. Lastly, Bitcoin can now been seen yet again as the best coin worth being in everyone's portfolio, I also believe more of positive news are yet to come.

timmmers

sr. member

Activity: 1176

Merit: 265

Bitcoin is diffrent, it doesn't have a creator, there wasn't any ICO, it was legally created and the creator didn't take any profit. While many altcoins started like as an ICO and that could be a huge problem in the future.

Stedsm

legendary

Activity: 3052

Merit: 1273

I've never wanted any regulations whatsoever due to the facts that legalization will only lead us to requirements like making our transactions completely transparent and available to the higher authorities for tax purposes bs. But this is not what Bitcoin was made for. Anyways, it's an old debate these days and now I believe that involvement of global governments is equally needed here in order to let it survive because this is what we all want.

TopT3ns

hero member

Activity: 2548

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#SWGT CERTIK Audited

Quote from: isaac_clarke22 on July 28, 2020, 10:44:41 AM

One factor that people made the thoughts of being illegal is how it can't be traced that easily. We got BTC address, but that's it.
There are plenty of illegal things happening through usage of paper money we got today and it is still happening to this day.
I believe that one day, government will try to regulate the usage of cryptos and not just Bitcoin and it is kinda scaring me sometimes.

I think transactions using cryptocurrency can still be kept a secret and when it is not fully traceable because as far as I know there are alternative coins that can be used to randomize transactions, even though if you only use bitcoin then transactions will be able to be tracked and tracked.

coinfinger

sr. member

Activity: 1638

Merit: 278

That’s indeed a news to celebrate. Cryptocurrencies getting legalized and regulated is a win for the whole market. Government would of course not leave the market open as it’s a bull (hard to control), it had to be regulated and contained in some way. Although, I strongly believe that cryptocurrencies should be traded as assets rather than form of money due to their high volatility and how people look at it as a form of investment.

This has surely brought the market one step closer to mass adoption and acceptance in the community. I just believe that we are in the beginning phase of people start understanding about the potential of cryptocurrencies; it means we can expect more number of people will be adopting cryptocurrencies in near future for some reasons like they may use it like paypal or like gold.

I strongly believe legal regulation is not required for cryptocurrencies to hit mainstream adoption still if that is happening that will definitely boost adoption of cryptocurrencies.

isaac_clarke22

sr. member

Activity: 1610

Merit: 264

One factor that people made the thoughts of being illegal is how it can't be traced that easily. We got BTC address, but that's it.
There are plenty of illegal things happening through usage of paper money we got today and it is still happening to this day.
I believe that one day, government will try to regulate the usage of cryptos and not just Bitcoin and it is kinda scaring me sometimes.

Eddyc

sr. member

Activity: 1020

Merit: 391

This is great information that can help further market development and help mass adoption. However, crypto is worldwide and this news should be in all governments or at least in all world powers. Therefore, this news can be a start of recognition of the judicial and legislative authorities.

Kupid002

sr. member

Activity: 1036

Merit: 329

Quote from: Pffrt on July 28, 2020, 10:17:26 AM

This is already in action. Have you seen how much price bitcoin has gain within last two days? I think this is the main reason behind the pump of BTC price within such short time. People now will take BTC more seriously than previous and it's certainly a great benefit for the crypto community overall. It will not be easy to say BTC scam anymore.

They should accept that long time ago so we never experience that hard correction in price. Its also a good thing to all bitcoin holders that continue supporting bitcoin even in hard time when the price dump very hard this year around 4k$ below each .

Well congrats to us we already claiming now the fruit from what we are planted.

Topic: This could be a big WIN for an entire crpyto community - page 2. (Read 507 times)