Quote:
Originally Posted by Oracle Porn
How can the US make them illegal? are they going to make 100's of thousands of Americans criminals overnight? is everyone supposed to delete all their bitcoin? or will the be a time for a panic sell?
There are already bitcoin laws (which basically gives bitcoin it's credibility already) and soon it will be illegal to hold bitcoin without disclosing them to the government, which is okay if you are not too greedy and have no problem paying taxes for your profits, which I imagine most people don't have.
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What they could do is make it illegal for banks/processing companies to handle any transactions from bitcoin exchanges/sites. Basically, what they did with online poker. When they wouldn't allow US banks to process those transactions it made it nearly impossible for people in the US to play online poker for real money. If they shut down the exchanges or make it so the exchanges can't offer US dollars it would really hurt Bitcoin.