[JayJuanGee]

(06-14-2017 10:33 PM)The Beast1 Wrote:  

^^ The problem isn't a problem of taxes, but more of a problem of convertibility. The government could very easily disallow Coinbase's operations stateside.

If the US disallows cryptocurrency convertibility you'll have to go through more hoops to convert your bitcoins to a foreign legal currency and then into dollars.

This would destroy the value of bitcoin and other cryptocurrencies in the short term. Whether it rebounds is to be seen.

I don't know about your logic, here... or maybe you are missing some facts or you are assuming some fact differently from me?

In the USA, there are a few vehicles in which folks can go through banks to trade in crypto currencies, including Coinbase, Gemini and possibly a few others.

There are also ways to trade in crypto currencies without going through banks, such as local bitcoin or just meeting people directly.

It seems that when other countries have attempted to make bitcoin's illegal then the use of direct trades and local bitcoins increased.

Sure making cryptos illegal could cause a lot of suppression and cause a large number of folks to discontinue its use. It could also depress crypto value in some ways, and push uses into the black market or other jurisdictions. Such legislation to blanketly make cryptos illegal does not seem like a very likely and/or logical next play for legislators - even though they make such token gestures from time to time.