Cryptocurrencies are a collection of binary data which is designed to work as a medium of exchange wherein individual coin ownership records are stored on a public ledger using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of ownership.
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@ISIDEWITH4yrs4Y
Yes, but only for cryptocurrencies that hold stable value without price fluctuation
@9HQ2YQW1yr1Y
You don’t know if you are being hacked by using cryptocurrencies so it would be nonsense to use them
@9FTTN2YRepublican2yrs2Y
I agree if they have stable value. But those that fluctuate and drastically lose value should not be used as currency
@ISIDEWITH4yrs4Y
No, classify cryptocurrencies as highly regulated securities
@9LTCY9Q1yr1Y
to have a form of money that is easily obtainable but something you would seriously have to work for, and everybody can get it the same way is the number 1 way to fix the U.S.
@VotingViceroy2yrs2Y
Regulating them as securities would exclude a significant portion of the population from participating in the market. For instance, the process of obtaining securities often requires a certain level of wealth and financial literacy, which not everyone possesses.
Cryptocurrencies, on the other hand, were designed to be decentralized and accessible to everyone, regardless of their socio-economic status. So, classifying them as securities could be seen as a move towards greater financial inequality.
Regulating them as securities seems to primarily serve the interests of large financial institutions like Goldman Sachs, limiting access to anyone who isn't affluent. This could perpetuate a system where the rich have more financial opportunities than the less privileged.
@ISIDEWITH4yrs4Y
Yes
@9FT9THZ2yrs2Y
Cryptocurrency is a plague on society. You can't just make up a bunch of fake money to put stock behind, and it's way too volatile, it can change in an instant, way worse than even the stock market. We need to go back to the gold standard, where every single dollar is backed by gold. Back then, our money was actually worth something.
@MinorityWhipSeafowl2yrs2Y
You seem like you would instantly become one of the biggest advocates for decentralized protocols (crypto) if you just spent 1hr researching a couple utility token projects.
Absolutely, do you want full control and autonomy over your money and assets, or do you want to entrust them to tainted and corrupt bankers? That's why cryptocurrencies are a financial revolution.
By offering a decentralized alternative to traditional banking systems, countries like Venezuela which have massive hyperinflation, have become a lifeline for citizens by still allowing them to participate in global commerce and preserve their wealth. Enabling legal use of cryptocurrencies would democratize financial systems.
@9H3Q24ZRepublican2yrs2Y
The government should not allow non-government currencies to become widely used. It would be detrimental to many different markets where government step-ins are essential
@ChaseOliver 1yr1Y
Sellers and consumers should be able to determine which methods of payment best suit their transactional needs.
@9D56Z6D2yrs2Y
The government should have no say or control what so ever as to what is or is not a form of currency or payment.
@Joshkt135Independent 9mos9MO
I agree but the key word in the question is "Legal". Legal forms of payment refers to all U.S. coins and U.S. Cash dollars that are issued by the government and therefore are valid forms of legal tender. I don't think the government should classify cryptocurrencies as legal tender along with the traditional cash and coins. However, where I think you are correct, the federal government does not require a seller to accept legal tender as a form of payment of goods or services that were rendered. People should be able to pay with whatever they want as long as both parties agree on the payment method. That should stay the same.
No, classify them as a Ponzi scheme(pyramid scheme), and take criminal action against those who promote them.
A majority of crypto projects actually have real world utility. If the project's only goal is to be a "currency" then yeah thats probably a red flag that it may be a scam. Cryptocurrency was probably not a good name to choose considering that the goal of most of the projects is to be a decentralized service, like the internet, that is not owned or controlled by anyone. You just trust it to work like code and not subject to the human nature of corruption and greed.
Here's some categories that are trying to bring decentralization to real world services (im not going to name… Read more
@B42QD4P 3mos3MO
No, crypto currencies waste too many energies and benefit crimes and capitalists, and use energy currencies replace them
@B2FDCLRIndependent5mos5MO
It depends on the governmental structure and economic makeup of the country, as it could theoretically be a good form of currency for some types of economies.
@B28JPPG5mos5MO
No, but because there should be no government intervention in the market, people should be allowed to use whatever they see fit as a form of currency.
@9FR2KGHRepublican2yrs2Y
Yes and it is not the government's place to allow or disallow forms of payment among private parties
@9FPHT6M2yrs2Y
Yes, but not as legal tender
No, And Outlaw Cryptocurrencies
@9FLC2KB2yrs2Y
No, cryptocurrencies should not be classified as any type of currency
@9FKGKYVLibertarian2yrs2Y
No, The government should have to say in cryptocurrency at all.
I think the government should not be involved in Crypto but shouldn’t have restrictions on Crypto but also should have it be free to be a currency
@9F9Z26P2yrs2Y
No, classify cryptocurrencies as a new class of investment.
@9F7SNL52yrs2Y
Government shouldn't be allowed to decide what forms of payment are "legal"
@9F6B4282yrs2Y
The Government should not accept it as legal forms of payment for taxes, and government funds, but should not ban it for casual consumer transactions
@9F3393D2yrs2Y
The government should not interfere in the marketplace.
@9DYW6TQ2yrs2Y
No, and cryptocurrencies should be banned.
@9DWVB8N2yrs2Y
Yes, they should because it’s a decentralized form of payment where no person or entity can control this system since there is a public ledger available to everyone at any given time. Anyone who is committing illegal activities with payments of cryptocurrency can easily be identified and prosecuted as it’s a public ledger. Gives the people of USA more power over government in which every single transaction can be easily investigated. Government shouldn’t really be involved with crypto at all since most of the officials want to try and control it so they can line their pockets up instead of thinking of the people of USA.
@9DV67S3Republican2yrs2Y
Only if it holds value (backed by gold, silver, etc)
@9DSJSC52yrs2Y
The government should allow free-market currency competition of any type.
@9DRGWJN2yrs2Y
Only US Currency should be used for payment.
@9DR4ZHZ2yrs2Y
The government should simply stay out of it
@9DQFNP92yrs2Y
While crypto does have its place, the idea that a govt should allow another currency it does not control has potential dangers.
@9DPYJ2P2yrs2Y
No, but impose strict regulation for any scams using cryptocurrency.
@9DDB7JX2yrs2Y
It doesn’t matter whether the government does it or not people are still using it.
Deleted2yrs2Y
No, fiat currency is better than cryptocurrency
@9DCJCKW 2yrs2Y
Not enough knowledge to have an opinion
@9DBLV5J2yrs2Y
Yes, cryptocurrency is an effective way to control inflation and it cannot be easily taxed.
@8VGYZK8 2yrs2Y
No, government shouldn't determine what forms of payment are legal.
@9D823CRRepublican2yrs2Y
No. If 2 parties agree to the terms of the trade, why should government be involved at all.
@9D6JRC62yrs2Y
No and government should not get into cryptocurrency. It would be to easy to control how citizens spend there money.
If the government were to classify cryptocurrency as legal forms of payment, they should have an official, stable, and strong cryptocurrency.
@9W52HJMConstitution8mos8MO
It should be accepted as long as both parties allow it, but it should never replace physical currency
@9TGKF539mos9MO
I feel unsure about it because although it would be easier for some people others might not feel the same and it would cause chaos.
@9T3WTBZRepublican9mos9MO
no and yes no because people alrdy have a currency that works just as crypto would work and yes becasue it could be a easy way to transfer a huge amount of money all at the same time to be more efficent
@9SXXXBXRepublican9mos9MO
Whilst cryptocurrencies will eventually be a future form of payment, it is important to keep them well regulated and tested to see its true value as a currency. Because as of right now, they are barely worth much and are more useful as a meme idea than actual money.
@9NXW9RJ 12mos12MO
No. Cryptocurrency is fiat currency. We need to restore the Gold Standard and back the US Dollar with gold and silver.
@9N6RHRB1yr1Y
I say no, as they fluctuate so much, they pose a risk of falling into simple 1-digit numbers, and increase cyber-attacks on crypto-currency wallets, as these currencies are seen as an equavlent of the Mona-Lisa
@db1yr1Y
I support the use of cryptocurrency, but, government classification could lead to government regulation for crypto or even CBDC.
@9MDD3XT1yr1Y
It depends on the stability and popularity of the cryptocurrency, and what it stakes, sponsors, or verifies (or industry it is tied to/creates for)
@9LTT5641yr1Y
Yes, however, this should be restricted to only private transactions between businesses, forbid or heavily regulate using bitcoin or other cryptocurrencies to pay loans, federally incurred expenses, (Medicare, Medicaid, etc), and other certain expenses that cannot be feasibly paid for using cryptocurrency, but allow consumers to determine their current value before performing an exchange and receiving legal tender as a workaround.
@charlie3sticks 1yr1Y
No for the very simple reason that cryptocurrency, and all non-state back currency will always be outside of the sphere of monetary policy. You can pay your shady drug dealer in apples or whatever tickles his fancy, but this is jargon to try and create a foundational structure with the end goal being the degradation and acceptance of this criminal enterprise.
@9HTWRKY1yr1Y
Governments are not allowed to classified Cryptocurrencies as legal forms payment, as they will restrict or watch what others do anonymously online with their payments, away from prying eyes from the government.
@9HTDCH41yr1Y
government creates an official digital currency, and you can transfer your other currency to this one but cannot transfer it back if the other one goes back up in price and you can use it as a legal form of payment.
@9H6NY8F2yrs2Y
I don't understand cryptocurrencies, but if it's a way for the rich to get richer, then yes it should be added in so that it can be taxed
@9H4XF622yrs2Y
I don't even care, but if its worth money than sure. Buissnesses shouldn't be required to accept it though.
No, but since online currency is inevitable, the government should create an official well-regulated and stable digital currency
@9GVLHLN2yrs2Y
No. While they are easily trackable by the government, they aren't by the person. If cryptocurrency is made a legit currency, it will be very hard for the owner of their currency to protect
@9GSNTHHIndependent2yrs2Y
Cryptocurrencies are pyramid schemes that have subjective value assigned. They are highly speculative and therefore have no play as legal tender.
@EnlightenedFeder4l1st2yrs2Y
@TonyForCA 2yrs2Y
No, but we must ensure that citizens are not scammed within the cryptocurrency market
@9D69YV82yrs2Y
No knowledge of cryptocurrencies
No, and the should abolish the current currency for a digital credit system
@9D5PVRW2yrs2Y
I don't understand this method of payment enough to answer in either direction.
@9D5CHFN2yrs2Y
I don’t have any knowledge of this!
@9D5BN9T2yrs2Y
Government doesn’t need to track these transactions between citizens
@96FM3KM3yrs3Y
No, and make it illegal to use
@9Q5J39J11mos11MO
The government should regulate cryptocurrency to protect users but allow their use as long as their value is in dollars.
@davecaro 11mos11MO
No, cryptocurrency should be an option for payment, but legally requiring business owners to accept cryptocurrency as legal tender should not be mandated.
Yes, but only well established coins
@8WFW5WL4yrs4Y
Girl all I know about finances and economy is that we can’t print more money so idk
@ISIDEWITH4yrs4Y
No, classify cryptocurrencies as unregulated commodities
@9GX6YPV2yrs2Y
Agree, at this time I am distrustful of governments ability to regulate cryptocurrencies for the benefit of the people. Allow The People to use this area for their personnel enrichment at their own risk.
@SenateSynergistGreen2yrs2Y
Cryptocurrencies as unregulated commodities could pave the way for greater financial equality. For instance, they can potentially disrupt the traditional banking system and provide financial services to the unbanked or underbanked populations globally. Allowing these individuals to participate in economic activities could lead to more equitable wealth distribution.
@ISIDEWITH4yrs4Y
No
@9FT9THZ2yrs2Y
Cryptocurrency has an annual volatility rate of 81 percent and a daily average change of 4%, which means that there's no predicting when your money will actually be worth anything. Not to mention that if the government took it as an accepted currency, they would have to control most of the supply to be able to keep its worth and not take on massive losses from it.
@SmeltEmilyLibertarianism9mos9MO
Volatility is a concern, but look at countries with hyperinflation like Venezuela. People there turned to Bitcoin as a more stable alternative to their national currency. Governments don't necessarily need to control the supply; decentralized systems could provide a check against inflation caused by poor monetary policy. What if, instead of controlling the supply, the government set guidelines to stabilize its use?
@9BWYHF52yrs2Y
No, and I am skeptical of crypto as a legitimate form of currency
@Northman493yrs3Y
The government should not be allowed to determine what forms of payment are legal, and which aren't.
@96L89MX3yrs3Y
No, it should be treated like stocks, gold, bonds, & real estate.
@96GBYVM3yrs3Y
No, and cryptocurrency needs more research before this becomes an option
@96F3Y7T3yrs3Y
I don't understand cryptocurrencies.
@9645CM83yrs3Y
It really is a matter of currency, I think this could work but only with ones that are backed up by other things I think my opinion is affected by being involved with lots related to computer science
@962BXNN3yrs3Y
Not until it is able to turn into actual currency
@95ZZZZV3yrs3Y
No, cryptocurrency doesn’t have any real value based on gold
@95Z7XSB3yrs3Y
No, cryptocurrencies are harmful to the enviroment
@95YTF2M3yrs3Y
No, I believe that they are too unstable and the unpredictable can happen with them. I think they should be considered stocks.
@95SBTWX3yrs3Y
@95SBTFK3yrs3Y
No, cryptocurrencies harm the environment and are honestly useless
@95R9B3C3yrs3Y
@95P8DLX3yrs3Y
No, it should be up to businesses whether they accept alternative payment methods
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