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Is bitcoin trading legal in the United States

Publish: 2021-04-27 08:27:56
1. bitcoin is a kind of P2P digital code. Bitcoin does not rely on specific currency institutions to issue. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions. The decentralized characteristics and algorithms of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin by mass manufacturing
bitcoin lacks stability, so it doesn't have "inherent value", it's just a virtual proct. If we recognize its legitimacy, it will have a significant adverse impact on the banks of all countries, and even can replace the currencies of all countries. Finally, a few people will manipulate the world's monetary system, which is a very dangerous existence. It's not money. Whether it's legal or not depends entirely on whether a country recognizes it as legal or not< At present, the United States, China and South Korea all think it is not a currency. Among the big countries, bitcoin is only recognized as the "unit of account" by the German Ministry of finance, but it is only a unit of account, which does not mean that it is mainly a currency.
2. Why should the United States recognize bitcoin as a legal financial instrument? Its purpose is to bring bitcoin into the financial regulatory system to protect the interests of ordinary investors. This is the same starting point as our central bank's announcement to ban bitcoin. A typical representative case is a case called Trenton? In 2011-2012, he amassed 700000 bitcoins with a total value of more than US $4.5 million, but he suddenly closed the trust in August 2012, and then claimed that bitcoin was not money and was not regulated by the US government. In order to protect the interests of investors, in August 2013, the court ruled that bitcoin as a financial instrument should be regulated by the US government. This is interpreted as "the United States recognized bitcoin"
3. Possible factors for the rise of bitcoin. 1. Bitcoin futures rose on the first day of listing on the US stock exchange. Wall Street investors bought bitcoin for the first time, and the price of digital currency futures jumped about 20%. Bitcoin has risen this year. According to the Los Angeles Times, the US market has bought second-hand housing mortgage loans to buy bitcoin. 2. At present, the trading volume of bitcoin is relatively low, and most investors are optimistic about oil, gold, wheat and other commodities, or the stock market. The future direction of bitcoin is unknown, futures prices show that prices are rising, but investors are cautious about the market falling into bubbles and speculation. 3. JPMorgan said bitcoin was a fraud. The Chicago Mercantile Exchange will start trading bitcoin futures on December 18, with gold slightly lower and its value supporting the gold price. Bitcoin has no value, only the price rises.
4.

[characteristics of bitcoin]

the reason why bitcoin is anonymous is that they are built on a decentralized system. Bitcoin is completely independent, and the outside world cannot shut it down through some kind of core infrastructure

"anonymity" is very useful for those who don't want to associate their name with the goods or services they purchase. What outsiders see is nothing more than the address of your bitcoin wallet and a string of random words and numbers. Besides, there is no information that can identify themselves. For relatively paranoid users, they can also create many new wallets for free.

bitcoin is designed to allow anonymous ownership and use rights. Bitcoin can be stored in personal computers in the form of computer files (wallets) or in third-party hosting services. No matter how it is saved, bitcoin can be sent to anyone on the Internet through its address. The distributed characteristics of P2P and the design of no central management mechanism ensure that no organization can manipulate the value of bitcoin or create inflation. Its main features are as follows:

< UL >
  • decentralization

  • < / UL >

    bitcoin is the first distributed virtual currency, and the whole network is composed of users without a central bank. Decentralization is the guarantee of the security and freedom of bitcoin

    < UL >
  • circulation around the world

  • < / UL >

    bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin

    < UL >
  • exclusive ownership

  • < / UL >

    the private key is required to manipulate bitcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself

    < UL >
  • low transaction cost

  • < / UL >

    bitcoin can be remitted free of charge, but in the end, a transaction fee of about 1 bit will be charged for each transaction to ensure faster execution of the transaction

    < UL >
  • no hidden cost

  • < / UL >

    as a means of payment from a to B, bitcoin has no cumbersome limit and proceres. If you know the other party's bitcoin address, you can pay

    < UL >
  • cross platform mining

  • < / UL >

    users can explore the computing power of different hardware on many platforms


    [bitcoin acquisition method]

    first of all, your computer should be installed with the latest version of bitcoin client. After opening the client, all the transaction information data on the network will be automatically downloaded to the local. Depending on the network speed, this process may take several hours. At this time, the account balance is 0. Users can ask friends to send some coins, but a more feasible way is to do mining or merchant acquisition[ 6]

    < UL >

  • mining as a miner

  • < / UL >

    to be a miner is to proce bitcoin with one's own computer. In the early client, there was the option of mining, but it has been cancelled. The reason is very simple. With more and more people participating in mining, it may take several years for one to dig 50 coins, So miners generally organize into miners' guild, and they dig together. Specific mining methods, you can go online search. This method is already very unrealistic

    < UL >
  • as a businessman, you can buy coins g by miners with money, open an online shop to sell things and collect bitcoin, and even go to the exchange to speculate in coins. There are many websites providing bitcoin exchange services, which can be converted into almost any kind of currency. If you really don't know how to exchange, you can also come to laoan for help


    the difficulty of bitcoin mining is directly proportional to the amount of money that has been mined. The more difficult it is to mine, the more difficult it will be. After 20 million bitcoins are mined out in 2030, the remaining 1 million bitcoins will probably take decades to be mined out. And bitcoin has no central issuing authority, which is generated by network nodes through complex calculations. Anyone can run bitcoin software on a computer to make it. During circulation, enter the quantity 1 on the client software, then come to the other party's bitcoin address and sign with the payer's password. After that, the bitcoin is the other party's




    relevant information and pictures are from the Internet: search through the Internet for

    relevant reference sources are as follows:

    http://finance.chinanews.com/it/2013/08-09/5141755.shtml

    http://it.sohu.com/20130410/n372202897.shtml

  • 5. Australia
    in October 2013, bitcoin Bank of Australia was attacked by hackers, with a loss value of more than US $1 million. This incident has aroused the concern of bitcoin security in Australia. The Reserve Bank of Australia and the Australian tax office have said they want a virtual currency tax like a business transfer tax
    Bangladesh
    the Central Bank of Bangladesh banned the use of virtual currency in September 2014. Using bitcoin will be punished by law
    Brazil
    Brazil is one of the few countries in the world that has enacted laws related to electronic currency payment systems. Brazil has not banned bitcoin
    Bolivia
    for regulatory reasons, the Central Bank of Bolivia (BCB) has banned the use of bitcoin. BCB believes cryptocurrency will help business entities evade taxes
    Canada
    bitcoin is not considered legal, that is, bitcoin is not recognized by Canadian law. Canada's tax authorities plan to implement the same tax plan as barter trade and speculative trading for the bitcoin
    China
    China is one of the few countries in the world that ban bitcoin completely and prohibit financial institutions and banks from dealing with bitcoin transactions. In December 2013, the people's Bank of China issued a notice calling bitcoin & quot; Virtual goods;, And prevent it from becoming money
    trading has been suspended
    Ecuador has banned bitcoin, but it has chosen to set up a new state-owned electronic currency and monetary system, and the currency will be protected by the assets of the Central Bank of Ecuador
    EU
    at present, the EU still has different views on the classification of bitcoin. In October 2012, the European Central Bank's report on virtual currency concerns the legality of bitcoin under the EU legal framework. The European Banking Regulatory Authority issued a bitcoin risk warning, saying that the use of bitcoin has not been restricted at present
    Finland
    Finland has relevant regulations for the use of virtual currencies such as bitcoin. The relevant regulations are issued by the Finnish tax authority Vero skatt. Any gains arising from bitcoin transactions will be subject to capital gains tax
    Hong Kong
    Hong Kong has no regulations for bitcoin or any other virtual currency. However, the government is closely monitoring the use of bitcoin to prohibit money laundering, fraud and other illegal activities
    India
    India does not explicitly stipulate or prohibit the use of bitcoin. However, the Reserve Bank of India (RBI), equivalent to the Central Bank of India, has been forced to shut down India's largest bitcoin trading platform after it issued a notice that the use of bitcoin could cause money laundering and security problems
    Israel
    the Israeli tax authority is considering levying income tax on bitcoin transactions. Israeli banks even blackmail bitcoin payments
    Kyrgyz
    Kyrgyz central bank has banned the use of digital currency and bitcoin for the reasons of lack of centralized management, high currency risk and legal problems
    Russia
    the Central Bank of Russia believes that bitcoin may be used for money laundering and terrorist financing. Therefore, the Russian government banned the use of bitcoin
    Taiwan
    Taiwan's financial supervision commission is concerned about the uncertainty and speculation of bitcoin, so Taiwan opposes the installation of bitcoin ATM
    UK
    at present, there are no relevant regulations for the bitcoin. Profits or losses from bitcoin transactions are subject to capital gains tax, while the purchase of bitcoin is still subject to VAT
    the U.S.
    the U.S. is probably the most supportive country for virtual currencies such as bitcoin. There are no final rules on bitcoin. However, there are also many new rules for the establishment of bitcoin management framework.
    6.

    Personally, I don't think blockchain development technology is reliable. It's just what kind of R & D technology group you choose. Even if you choose a better R & D technology group, you may not be able to achieve the blockchain technology you require. Different instries and fields have different technical indicators, not to mention this complex new technology. On the other hand, let the R & D technology group agree with the machine instry thinking you need to apply, otherwise the procts developed will not meet your requirements. We focus on the professional field of blockchain technology, and the project has been carried out for more than a year, but it has not been successfully implemented. The difficulty is that overthrowing the traditional model will touch a great chain of interests, so it must be a process of graal infiltration

    according to what you said: blockchain based on machine learning can be understood as asking a technical question


    I hope the above answers can help you

    7.

    The price of bitcoin has reached a new high and has returned to its peak in recent years. In this case, I would not choose to invest in bitcoin. There are two reasons. One is that the rise is bound to fall. Now the rise is really fierce, but once you go in, you may fall; Second, I don't know much about bitcoin, so I need experience in investment. A lot of old hands have lost all their money, not to mention I don't know anything. Personally, I prefer steady investment, even if I earn less, it doesn't matter

    3. Steady investment

    compared with bitcoin, which is a risky investment, I prefer steady investment. Like some basic funds, I buy some occasionally. Although you can't make a lot of money, you can at least guarantee that you won't lose. Everyone has their own views on investment, and what I always uphold is & lt; There are risks in the stock market, so be cautious when entering the market

    8. Yes, there are basically no restrictions on transactions.
    moreover, in some regions, there are ATM like machines that can directly extract bitcoin and convert it into US dollars.
    many places / shopping malls / Tesla Motors can directly settle transactions with bitcoin
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