Why hasn’t Bitcoin been cracked (Why is Bitcoin illegal)
Why hasn\’t Bitcoin been cracked? According to CCN, no one has ever cracked Bitc
Why hasn’t Bitcoin been cracked? According to CCN, no one has ever cracked Bitcoin since its inception. There are three main reasons for this:1. The first issue that arose from 2009 to early 2014 was why Bitcoin couldn’t be mined. 2. In the mid-2010s, a very significant fork occurred because at that time, only one person in the community could crack it, but he didn’t know if he could find the answer. If someone could find a solution or a plan to explain all of this, it would mean that Bitcoin couldn’t be cracked anymore. 3. Many early investors and developers have been working hard to research and explore the development prospects of Bitcoin, but they haven’t discovered any breakthrough technological solutions. 4. Why is Bitcoin mining so boring?
Why is Bitcoin illegal
Editor’s note: This article is from Coinwiki(ID:coinwiki), written by Li Xiaolai and authorized to be reprinted by Odaily Star Daily.
Bitcoin is considered a digital asset and a means of value storage that can be used for payment. Is it legal? Let’s look at this question:1. Why is Bitcoin illegal?According to the Financial Times, a report released on May 24 by the Wall Street Journal website stated that although US regulatory agencies have expressed concerns about and welcomes cryptocurrency transactions, there is still a certain gap. However, the report mentioned: “Although most people regard Bitcoin as a speculative investment rather than a security, it does not mean that everything is illegal.” Therefore, the US Congress must take measures to prevent investors from buying or selling Bitcoin and prohibit the holding of cryptocurrency. 2. Will Bitcoin become property?According to the Financial Times, the US government recently approved new legislation targeting the use of Bitcoin as a medium of exchange. The new regulations state that “virtual currency” is not protected by law, just like other legal commodities. “Virtual currency” (including Ethereum and other blockchain technologies) may also be affected. If the price of Bitcoin falls, it cannot be used as a payment method; however, when people find that someone is selling their wallets using Bitcoin, “virtual currency becomes a form of property.” Therefore, the US government should restrict the use of Bitcoin and other virtual currencies. 3. “Virtual currency is not property” and “virtual currency is not criminal proceeds” because Bitcoin has no practical use, no fixed economic attributes, and no need for additional taxation. There is also a saying that Bitcoin may become property, such as gold, real estate, and other items. These properties all carry money laundering risks, and once stolen or transferred overseas, individuals will face economic losses, and such actions require the payment of capital gains tax.
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