This could be a big WIN for an entire crpyto community - page 3.

Pffrt

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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.

jrrsparkles

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Quote from: Sy on July 26, 2020, 08:14:27 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?

Not much to be honest, in US cryptos are already regulated but not as a form of legal tender money they just consider it as commodity thing but for some probable reasons they may consider it as money especially for some crypto related scam decisions.

But if people recognize the act then it may bring adoption but I doubt they will.

Zeehaxan

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Definitely great news especially when it is coming from US. I am happy to see positive events and great news recently that are favoring crypto market massively and just goes to show the massive potential ahead for the crypto market. Slowly but surely world is accepting the fact that crypto is here to stay and it is the future of payments.

dimonstration

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Dimon69

Quote from: bigcash2011 on July 27, 2020, 11:02:59 AM

Quote from: Sy on July 26, 2020, 08:14:27 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?

Chinese court has also given a pro crypto ruling while Russian policy makers are working to declare crypto as a property looks like everything is turning in favor of the crypto market at the moment so expect this bull run to be bigger than ever.

This both can be the reason of sudden pump of bitcoin prize this days, now that governments are acknowledging btc as a form of money and that found to be useful especially this time of Pandemic is a good way to make it more useful knowing many countries are still in quarantine and many being affected in doing transaction, payment or having extra sideline thru trading, gambling or crypto works. Many will get interest these days to try crypto knowing different countries are determining it as a form of money already.

coolon

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Quote from: Sy on July 26, 2020, 08:14:27 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?

On the one hand, this is great news. But if you think about it well, it also carries a negative for bitcoin. The authorities will have some control creating laws that can track and punish illegal traffic of funds and so on.

samcrypto

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Quote from: Sy on July 26, 2020, 08:14:27 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?

This might be the biggest reason of the current pump and its good that the government finally see bitcoin as a money. Though the effect of this one might still take time before people to realize, at least a bigger government recognizes bitcoin and its existence. Bitcoin is money and the best money digitally, we can't disagree to this one and I'm sure bitcoin will continue to grow. This news can push the trigger and lift the market up to the peak.

B.wealth

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Surely this will have a positive effect on Bitcoin, this is such a good news for all cryptocurrency community and due to this alot of pump might come up because many more investors will surely joined cryptocurrency.

cabron

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This must be the reason why BTC burst up all of a sudden. Good news indeed, there isn't a big media coverage for this kind of news though but only those who are interesting in crypto who sees this kind of news. Investors who have a lot of money will be buying BTC, the ones who are already holding BTC celebrates. I guess we are going to be preparing for the bulls to rally.

Peter Van Valkenburgh already fud around saying its just in the context of D.C.’s money transmission law. So what does he mean when they say you need money transmitter license if you are a btc intermediary?

bigcash2011

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Quote from: Sy on July 26, 2020, 08:14:27 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?

Chinese court has also given a pro crypto ruling while Russian policy makers are working to declare crypto as a property looks like everything is turning in favor of the crypto market at the moment so expect this bull run to be bigger than ever.

JHORN

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Quote from: Sy on July 26, 2020, 08:14:27 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?

And yet another good news again, well Its better not to depend on this, it isn't the first time we will see good news like this and nothing still happens, it's better that DeFi is taking the lead you know, way better than any good news

bitgolden

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I feel like just because court ruled something that doesn't mean it will change the regular peoples opinions so the adoption would not really get that high that quickly. Of course it could be better because companies will be able to act accordingly, and taxed accordingly as well. If bitcoin is money, so is euro, and when you exchange euro to dollar it is legal and it is quite easy and it is common, which means if you actually start a company that sells bitcoin for dollars, that means you are going to have a lot easier time to actually do it now that this rule is applied.

This doesn't reflect to mass adoption right away, but it does change some stuff, it at least lays the foundation for a potential mass adoption and how we could handle it, if it happens we will be much more ready thanks to this.

ryzaadit

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Quote from: Sy on July 26, 2020, 08:14:27 AM

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 article say :

Quote

Nothing to Be Excited About
Although at surface level the ruling might seem bullish for bitcoin, there is nothing particularly groundbreaking about it.

Still not really excited about the news, that's just a parable for the case since on the court case its about "money loundering" case. That's just from my own opinion about these nothing really being excited about these.

plvbob0070

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Well yeah, it can be big news but I don't think it will make such a huge impact in mass adoption. Looking at the article you included, it started with illegal activities, transactions, and unlicensed business, and the defendant tried to say that bitcoin is not a "money" (to escape from illegal-money transmission). While the judged considered bitcoin as a form of "money" according to him since it fits the category. So should we really look at this as positive news for the crypto community when illegal activities were still involved? In fact, I think it'll affect crypto the other way around since people might think that crypto or bitcoin is always related to illegal activities.

batang_bitcoin

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Part of mass adoption and will contribute a lot. We have been hearing good news for bitcoin lately around the globe and this is just one of it. While in Russia, the bill that's being passed doesn't look bitcoin like what Washington D.C is looking at. They don't want bitcoin to be a form of money but only for trading. I guess if we compile these news, there's a pretty good news that we can absorb from them as long as there's no negative and banning of bitcoin.

minairia3

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Quote from: Sy on July 26, 2020, 08:14:27 AM

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?

Definitely. Ive seen the market sudden surge today especially for bitcoin. We all knew ethereum is having a good day due to their upcoming launch and bitcoin good news somultaneously ride with it resulting to huge rise.

If US will considered this as form of money then digital currency has a bright future ahead. Mass adoption is happening already and almost all people realized that this will continue and even more realized it.

OP, I think since its bitcoin topic should this be move to bitcoin discussion instead here?

Tipstar

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Quote from: Sy on July 26, 2020, 08:14:27 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?

This could legalize bitcoin but it would also bring more regulations relating to it and would be taxable and counted upon income and other taxes.
In my opinion, bitcoin use was never a threat in an open society like US but it's categorization as money would provide more power to the authorities to control it. Though the consequences would be clearer with the passing time.

Sy

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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?

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