US Senators and Congress will have a lot of work to do on defining how to tax their people who uses bitcoin first before adopting bitcoin, as we all know its hard to know how many people in a country is using bitcoin and how much a person really owns.
I dont think that US will be first in the currency if they adopt bitcoin because China`s Yuan will still be first because of its strong economy.
Topic: Will the USA be #1 again in currency if it adopts Bitcoin? (Read 346 times)
It is very difficult to see the us accepting bitcoin as a national currency, or just to adopt it, because they have said that they were not going to allow such those things like cryptocurrencies because they said that they "hate" those kind of stuff, and they are probably not going to regret from that.
But if you mean just legalize it, then i think that it is legal to use in there, but there are some regulations that make you unable to buy bitcoins in several exchanges from the US, and you can not use brokers in there too.
But if you mean just legalize it, then i think that it is legal to use in there, but there are some regulations that make you unable to buy bitcoins in several exchanges from the US, and you can not use brokers in there too.
The USA will always be "#1" and Bitcoin has nothing to do with it. Why? Because all the people around the world love American products like cars, movies, even junky American fast food. They are also more than just "products", they have become a "lifestyle" and have become a part of the culture of most countries. Like McDonalds, there is one in every country.
correct bitcoin is a separate entity compared to the national currency , adapting bitcoin in a country does not really affect it's value , USA will always be number one since many foreign counties our enjoying there product and bitcoin has nothing to do with it . 
if USA use bitcoin to curency and regulated bitcoin
i think all country in the wolrd can follow USA and regulated bitcoin, and bitcoin price can incraese very high
i think all country in the wolrd can follow USA and regulated bitcoin, and bitcoin price can incraese very high
We all know the USD has inflated tremendously over the years. It seems to become less and less valuable on a daily. Will we be on top again if this happens?
No it won't be at top again, the more supply produced by their central bank, the lesser demand so it's value we'll become lesser too. What's the connection of making USA #1 for bitcoin? Are you thinking that when USD is on the top it will make the value of bitcoin pump some more?
The US dollar will always be the #1 currency, and there is no way to discuss it because they are the main currency in hundreds of countries, so there is no way to say that it is not the #1 on this, maybe Euro can be compared but not in those terms.
Gold is different because it is a Metal and it is much more like a Commoditie, but it is different anyway.
but adopting gold.. hmmm this is not going to happen, at least for now, but maybe we can see it happening in more tan decades from now.
Gold is different because it is a Metal and it is much more like a Commoditie, but it is different anyway.
but adopting gold.. hmmm this is not going to happen, at least for now, but maybe we can see it happening in more tan decades from now.
Nope, US lost its chance and now you guys are years behind the game. there may be lots of different services over there (such as Coinbase, Bitpay and all these ATM machines) but countries such as Japan have already adopted bitcoin for real and as a currency not like US as a commodity and that makes a lot of difference.
your IRS will never let the same thing happen. they want to take more money instead. countries like Japan have already removed taxes on bitcoin payments too which is another big step forward which US will never catch up to.
and by the way adopting bitcoin will have no effect on USD value in my opinion.
your IRS will never let the same thing happen. they want to take more money instead. countries like Japan have already removed taxes on bitcoin payments too which is another big step forward which US will never catch up to.
and by the way adopting bitcoin will have no effect on USD value in my opinion.
I think that if USD has it's own economy same as bitcoin have but if they will be # 1 because of digital currency, well maybe because they also have bigger whales who invested with bitcoin somehow like Bill Gates in one of the example to mention. Although the information is indirectly proportional with the current issues, but I am certain that it would have a contribution and the impact is bigger if many bigger investors will adopt bitcoin from USA.
We cannot dictate if USA will be number 1 again because there are other countries who has a lot of inventors and bitcoiner who has such a good value of their money that can used up to gain credentials.
Keeping the USD wasn't in my viewpoint, I was just using it as an example since it inflated. I was speaking in the terms of the USA doing away with USD completely, that's why I posed the question.
We all know the USD has inflated tremendously over the years. It seems to become less and less valuable on a daily. Will we be on top again if this happens?
Here the rule is simple, who will first settle bitcoin and make it a new financial currency that will rule the world and the economy of other countries. 
Nope, US lost its chance and now you guys are years behind the game. there may be lots of different services over there (such as Coinbase, Bitpay and all these ATM machines) but countries such as Japan have already adopted bitcoin for real and as a currency not like US as a commodity and that makes a lot of difference.
your IRS will never let the same thing happen. they want to take more money instead. countries like Japan have already removed taxes on bitcoin payments too which is another big step forward which US will never catch up to.
and by the way adopting bitcoin will have no effect on USD value in my opinion.
your IRS will never let the same thing happen. they want to take more money instead. countries like Japan have already removed taxes on bitcoin payments too which is another big step forward which US will never catch up to.
and by the way adopting bitcoin will have no effect on USD value in my opinion.
The USA will always be "#1" and Bitcoin has nothing to do with it. Why? Because all the people around the world love American products like cars, movies, even junky American fast food. They are also more than just "products", they have become a "lifestyle" and have become a part of the culture of most countries. Like McDonalds, there is one in every country.
First of all no developed country will ever adopt Bitcoin as a national currency. They might make it a legal tender but it can't replace US dollar. A deflationary and decentralized currency with unequal distribution isn't good for economic growth. High volatility adds to the problem. A business can't survive with such a high volatility currency that has global reach. For steady growth, a slightly inflationary and centralized currency is needed.
It is not about you and me, but the overall economic growth of the country and Bitcoin isn't suitable for the same.
It is not about you and me, but the overall economic growth of the country and Bitcoin isn't suitable for the same.
I do not really see a clear connection about adopting Bitcoin and causing USD to rise, however, I do know that when a fiat currency inflates, more people will buy Bitcoins, causing Bitcoin price to go up.
In the case of China, they think that adopting Bitcoin will cause their fiat yuan to be 'devalued' as Bitcoin may overtake, so I am unsure how Bitcoin may cause USD to rise.
In the case of China, they think that adopting Bitcoin will cause their fiat yuan to be 'devalued' as Bitcoin may overtake, so I am unsure how Bitcoin may cause USD to rise.
It's hard to say because China is hard to beat in the kind of line because they are definitely very in the business industry and since the users of bitcoin yet are not yet that high it's unlikely to happen not unless there would be an extreme surge of increase in the bitcoin industry I am not saying that only few people are using bitcoin but still there still many people not believing in the potential and power of bitcoin.
We all know the USD has inflated tremendously over the years. It seems to become less and less valuable on a daily. Will we be on top again if this happens?
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