The Instigator
Trans-Senpai
Pro (for)
The Contender
BrianSickMan
Con (against)

Bitcoin Should Stay Legal in the United States

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Voting Style: Open Point System: 7 Point
Started: 12/20/2017 Category: Economics
Updated: 1 month ago Status: Debating Period
Viewed: 210 times Debate No: 106001
Debate Rounds (4)
Comments (9)
Votes (0)

 

Trans-Senpai

Pro

This debate is over whether Bitcoin should stay a legal currency in the U.S.. There will be 4 rounds:
1. Acceptance speech
2. Argument
3. Counter-argument
4. Ending notes
Be prepared for your argument with evidence and reasoning. Have three claims and evidence backing all the claims. Try to be grammatically correct and do not use profane language. Good luck!
BrianSickMan

Con

Hi I am Mathew Davis. I am some one who works for a physical check and bitcoin is a crypto currency it is digital and I see bitcoin is trying to be a universal form of currency but think about this you will have to convert several places it will cause confusion and what are we doing if 1 bit coin is more than 1 USD I will lose money as I will have to convert all my money into bitcoin if it becomes a universal and takes over stuff like the USD I think it is a good concept but the fact that they are trying to become the only currency will also make it a pain for people like me who actually have jobs if it does happen so should it stay legal not really because its main purpose right now as stocks went down are back to how they where before which is illegal items on the black market.
Debate Round No. 1
Trans-Senpai

Pro

Satoshi Nakamoto. Former Cypherpunk, powerful cryptographer, inventor of Bitcoin.
Nobody knows if he really exists.
"All of my communication with Satoshi was ever by Bitcoin talk forums" Satoshi was just always all business." (Gavin Anderson). Nobody knows who Nakamoto is till this day.
When Nakamoto developed Bitcoin, banks had almost decimated world economy. Stocks fell like stones, and banks were becoming corrupt. Nakamoto designed Bitcoin to be a decentralized anonymous currency, where transactions are completely peer-to-peer and free. Bitcoin was a way to escape the the old system of a central bank ruling over all transactions, created for the greater good. It didn"t come as a surprise when the U.S. government tried to step in.
When the Silk Road and other illegal sites started using Bitcoin as the currency for their Black Markets, the U.S. government cracked down on them. The government took thousands of illegally used Bitcoin, unsure what to do with the BTC. Eventually, they sold each Bitcoin off in an auction, effectively legitimizing Bitcoin as a legal currency.
Still, many people argue Bitcoin should be an illegal currency, taking on the fact that illegal markets had used and still are using Bitcoin as their currency of choice. Even after Judge Amos Mazzant for the Eastern District of Texas ruled Bitcoin as a legitimate currency. Even after more and more companies start accepting Bitcoin. Even after that. Bitcoin is a legitimate legal currency, but some still refuse to believe it.
Money- all forms of it- is really just an accounting system. Money is used to show who has what and who can get what. That"s all that Bitcoin really is too- just online and decentralized, so the buyer and seller can have more control over their money. U.S. Dollars are still used for buying and selling illegal drugs and weapons, but somehow if Bitcoin is used, then people think it"s illegal and bad? Banks know that the money they give from ATMs go to illegal drugs but they don"t get shamed upon? Just like all types of currency, it's going to be used for bad stuff sometimes. That"s just how it works.
In fact, Bitcoin should be smiled upon. When families split and the working person wants to send remittances to their families, sending U.S. Dollars and other currency is really expensive. With Bitcoin, sending money across borders is completely free and secure. Families that are split have a better way to send money and transact, wasting a lot less money on fees. Go Bitcoin!
And when it couldn"t get better, it did. Bitcoin can go anywhere, so where banks are not available, and in not-so thriving communities, having a peer-to-peer network where you can send and receive money is just what they need. Banning Bitcoin could destroy these stable environments, causing disarray.
There"s only twenty-one million Bitcoin anyway, so the U.S. might not need to worry as much as they thought. Bitcoin is a new way of using money, and it could very well be the future of money as we know it. The endless possibilities of Bitcoin outweigh the consequences by a ton. Bitcoin is not a way for drug dealers to transact, it is an experiment. That is why I stand my argument.
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Debate Round No. 2
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Debate Round No. 3
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Debate Round No. 4
9 comments have been posted on this debate. Showing 1 through 9 records.
Posted by Trans-Senpai 1 month ago
Trans-Senpai
@lannan13 of course!
Posted by iwillprobablyregretthis 1 month ago
iwillprobablyregretthis
Horribly worded. Bitcoin is illegal in 5 countries and legal anywhere else.
Posted by lannan13 1 month ago
lannan13
For acceptance speech, is a brief introduction to the topic acceptable?
Posted by ThinkBig 1 month ago
ThinkBig
You need to define your terms. Are you debating whether or not it is legal tender or if it is legal? You also need to define the terms legal tender and currency
Posted by dsjpk5 1 month ago
dsjpk5
You can edit the resolution until someone accepts.
Posted by Trans-Senpai 1 month ago
Trans-Senpai
@Nd2400 Thank you!
Posted by Trans-Senpai 1 month ago
Trans-Senpai
@MindMaster Your right. I should've specific the country. Sorry!

For everyone, this is mostly targeted for the United States.
Posted by Nd2400 1 month ago
Nd2400
Would accept, but you already (Pro). Good topic.
Posted by MindMaster 1 month ago
MindMaster
Depends on who you ask, It is Legal in 65 Countries.
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