Bitcoin Should Stay Legal in the United States

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.