https://en.wikipedia.org/wiki/Legal_tender
Topic: - AURORACOIN - - page 50. (Read 137052 times)
I suppose there is a difference between 'legal tender' and 'accepted tender'. For example, I have paid my tax liabilities by cheque in the past, even though that is not considered 'legal tender'.
https://en.wikipedia.org/wiki/Legal_tender
https://en.wikipedia.org/wiki/Legal_tender
Thanks for all the valuable info you posted above.
Allow me a remark on one thing, though:
Your "slight sliver of reservation" looks like "strong doubt" on my side: "legal tender" usually refers to "anything which when offered in payment extinguishes the debt.".
This is not the case for bitcoin. It's also not the case for gold bars or houses or our beloved Auroracoin.
The german bundesbank offers another definition:
For the case of germany they state some legal fact:
Not even coins are legal tender in germany without restriction. The obligation to accept them is limited.
Surely one can refuse to accept cryptocurrency for settlement of debt. Otherwise I could pay my taxes in potcoin, which would be outrageous, no?
Allow me a remark on one thing, though:
With only the slightest sliver of reservation it can be said that digital currencies are already legal tender in Europe even if they're not sovereign money.
Your "slight sliver of reservation" looks like "strong doubt" on my side: "legal tender" usually refers to "anything which when offered in payment extinguishes the debt.".
This is not the case for bitcoin. It's also not the case for gold bars or houses or our beloved Auroracoin.
The german bundesbank offers another definition:
Legal tender is the means of payment that nobody can refuse to settle a monetary obligation without experiencing legal disadvantages.
For the case of germany they state some legal fact:
Quote
In Germany, banknotes denominated in euro are the sole unrestricted legal tender.
Not even coins are legal tender in germany without restriction. The obligation to accept them is limited.
Surely one can refuse to accept cryptocurrency for settlement of debt. Otherwise I could pay my taxes in potcoin, which would be outrageous, no?
Let's say the pirate party does form a coalition or outright wins majority seats, what would be considered a reasonable time frame for Bitcoin and Auroracoin to become legal tender if they announced that was their first priority and the process for such a thing to be enshrined in law? 6 months, a year?
The Icelandic regulatory framework is gradually becoming clearer already now, largely thanks to the work of the Auraráð Foundation (Auroracoin Foundation Iceland). We already have preliminary rulings to the effect that digital currencies are treated equally to other currencies for transaction and trading purposes.
However, Iceland is also bound by the rulings of the European Court of Justice as part of the European Economic Area. Most importantly, the ECJ Hedqvist case from October 2015 pretty much puts digital currencies on equal footing with traditional currencies:
http://www.bloomberg.com/news/articles/2015-10-22/bitcoin-virtual-currency-exchange-is-tax-free-eu-court-says-ig21wzcd
With only the slightest sliver of reservation it can be said that digital currencies are already legal tender in Europe even if they're not sovereign money. (In the US, however, the situation is entirely different, but that's another story.)
Let's say the pirate party does form a coalition or outright wins majority seats, what would be considered a reasonable time frame for Bitcoin and Auroracoin to become legal tender if they announced that was their first priority and the process for such a thing to be enshrined in law? 6 months, a year?
Interesting analysis, always more than meets the eye. But, I would refrain from using the word "definitely" when speaking of anything political...
I stand by it in this case. The cumulative probability density plot for the number of MPs for individual parties can be found here:
http://kosningaspa.is/wp-content/uploads/2016/10/thingmannaspa28-7.png
The statistical difference between the Pirates (P) and the Independence Party (D) is really quite exorbitant.
The Pirates remain the most likely to lead a government coalition, though.
And that's really what matters.
Interesting analysis, always more than meets the eye. But, I would refrain from using the word "definitely" when speaking of anything political...
I stand by it in this case. The cumulative probability density plot for the number of MPs for individual parties can be found here:
http://kosningaspa.is/wp-content/uploads/2016/10/thingmannaspa28-7.png
The statistical difference between the Pirates (P) and the Independence Party (D) is really quite exorbitant.
The Pirates remain the most likely to lead a government coalition, though.
Just to set expectations for the results of today's parliamentary elections in Iceland:
For the mathematically inclined, here are the results of a statistically rigid Monte Carlo simulation based on a weighted and probability-distributed set of the latest polls:
Key to the figure:
The red line denotes the cut-off for a majority in the 63-seat Althingi
APSV=the Pirate-led (P) bloc
BD=the currently reigning parties
C=the new right-wing liberal (wildcard) party
- The Pirate Party is definitely not going to win as in becoming the biggest political party,
- however, the bloc (APSV) controlled by the Pirates has a 58% chance of winning the majority of seats in the Althingi,
- augmented to a 98% chance if the right-liberal C party joins the bloc, as they have been invited to, while
- the current (BD) majority is 98% guaranteed to fall, and
- the only majority not including the Pirates (BCD) is 42% likely.
For the mathematically inclined, here are the results of a statistically rigid Monte Carlo simulation based on a weighted and probability-distributed set of the latest polls:
Key to the figure:
The red line denotes the cut-off for a majority in the 63-seat Althingi
APSV=the Pirate-led (P) bloc
BD=the currently reigning parties
C=the new right-wing liberal (wildcard) party
Interesting analysis, always more than meets the eye. But, I would refrain from using the word "definitely" when speaking of anything political...
Just to set expectations for the results of today's parliamentary elections in Iceland:
For the mathematically inclined, here are the results of a statistically rigid Monte Carlo simulation based on a weighted and probability-distributed set of the latest polls:
http://kosningaspa.is/wp-content/uploads/2016/10/thingmannaspa28-9.png
Key to the figure:
The red line denotes the cut-off for a majority in the 63-seat Althingi
APSV=the Pirate-led (P) bloc
BD=the currently reigning parties
C=the new right-wing liberal (wildcard) party
- The Pirate Party is definitely not going to win as in becoming the biggest political party,
- however, the bloc (APSV) controlled by the Pirates has a 58% chance of winning the majority of seats in the Althingi,
- augmented to a 98% chance if the right-liberal C party joins the bloc, as they have been invited to, while
- the current (BD) majority is 98% guaranteed to fall, and
- the only majority not including the Pirates (BCD) is 42% likely.
For the mathematically inclined, here are the results of a statistically rigid Monte Carlo simulation based on a weighted and probability-distributed set of the latest polls:
http://kosningaspa.is/wp-content/uploads/2016/10/thingmannaspa28-9.png
Key to the figure:
The red line denotes the cut-off for a majority in the 63-seat Althingi
APSV=the Pirate-led (P) bloc
BD=the currently reigning parties
C=the new right-wing liberal (wildcard) party
Now that the Cryptsy storm is over, time to set sail to the future!
Hope they won't have to compromise to much.
Anyone has a link to see first election results or prognoses?
You can see pre results here.
http://icelandmonitor.mbl.is/news/elections-2016-results/
thanks
Anyone has a link to see first election results or prognoses?
You can see pre results here.
http://icelandmonitor.mbl.is/news/elections-2016-results/
Anyone has a link to see first election results or prognoses?
Damn, missed all he mega dumps.
Just to give 100% clarification, have all the crypsty coins been dumped?
If so, this really is a good thing, the dark cloud of the stolen coins that could be dumped any moment is gone, the market coped quite well.
Just to give 100% clarification, have all the crypsty coins been dumped?
If so, this really is a good thing, the dark cloud of the stolen coins that could be dumped any moment is gone, the market coped quite well.
yes, the market held up really well. Thanks to those who posted these walls. You've earned what you reap now (or later, hopefully)
Of course we have a load of people with cheap coins now. This will put considerable additional downward pressure on the market for quite a while, I guess.
Maybe not the worst thing, though. Of course I would've loved a x10-bagger myself, but for auroracoin it's probably a good thing to manage expectations and keep the market from developing "irrational exuberance"
If the Pirate Party do win, i'm expecting some "irrational exuberance" in the market.
Fomo kicking in.
Damn, missed all he mega dumps.
Just to give 100% clarification, have all the crypsty coins been dumped?
If so, this really is a good thing, the dark cloud of the stolen coins that could be dumped any moment is gone, the market coped quite well.
Just to give 100% clarification, have all the crypsty coins been dumped?
If so, this really is a good thing, the dark cloud of the stolen coins that could be dumped any moment is gone, the market coped quite well.
yes, the market held up really well. Thanks to those who posted these walls. You've earned what you reap now (or later, hopefully)
Of course we have a load of people with cheap coins now. This will put considerable additional downward pressure on the market for quite a while, I guess.
Maybe not the worst thing, though. Of course I would've loved a x10-bagger myself, but for auroracoin it's probably a good thing to manage expectations and keep the market from developing "irrational exuberance"
Damn, missed all he mega dumps.
Just to give 100% clarification, have all the crypsty coins been dumped?
If so, this really is a good thing, the dark cloud of the stolen coins that could be dumped any moment is gone, the market coped quite well.
Just to give 100% clarification, have all the crypsty coins been dumped?
If so, this really is a good thing, the dark cloud of the stolen coins that could be dumped any moment is gone, the market coped quite well.
Yes, when the Pirate Party wins, wee will see the next gulden.
Now that the Cryptsy storm is over, time to set sail to the future!
I've withdrawn 90k (minus the small bittrex fee) to AdKmKPUmNaBv671cWv7CqnEG6ZNcg54FwF.
45k has been send to ISX.
45k has been send to ISX.
Well, that was quite a night!
In short, the source of the large wallet that has been identified as the Cryptsy cold storage that has been legally released onto the Bittrex exchange. This probably means the settlement you can read about here: https://www.cryptocoinsnews.com/plaintiffs-reach-settlement-one-cryptsy-defendant/ has something to do with it.
Thanks to the early warning we got from Trukkur we were also able to inform the Bittrex team and they immediately responded by putting us in maintenance and suspending the account with all the funds. Later we got confirmation that the holders of the account identified themselves and that there was no suspicion of illegality to them. Therefor Bittrex had no other option but to release the account.
The account then massively dumped their 600k+ coins onto the market. Some of us were already in place to take a good part of that blow. A lot of it also got distributed among many smaller buy orders.
All in all it seems we have come out of this extremely well and our market just got even stronger due to it.
My thanks to Trukkur and the Bittrex team, who have proven once more how solid and reliable they are!
In short, the source of the large wallet that has been identified as the Cryptsy cold storage that has been legally released onto the Bittrex exchange. This probably means the settlement you can read about here: https://www.cryptocoinsnews.com/plaintiffs-reach-settlement-one-cryptsy-defendant/ has something to do with it.
Thanks to the early warning we got from Trukkur we were also able to inform the Bittrex team and they immediately responded by putting us in maintenance and suspending the account with all the funds. Later we got confirmation that the holders of the account identified themselves and that there was no suspicion of illegality to them. Therefor Bittrex had no other option but to release the account.
The account then massively dumped their 600k+ coins onto the market. Some of us were already in place to take a good part of that blow. A lot of it also got distributed among many smaller buy orders.
All in all it seems we have come out of this extremely well and our market just got even stronger due to it.
My thanks to Trukkur and the Bittrex team, who have proven once more how solid and reliable they are!
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