Topic: Bitcoin is Now Officially Money! (Read 2241 times)
I dont think we should celebrate too much on that. The consequences are that now all laws and regulations that are associated with fiat could apply to bitcoin as well. I could be just pesimistic,but i dont place much trust in the rulings they make,and think most are made with certain agendas. Time will show in either case.
"Bitcoin qualifies as money, a federal judge ruled on Monday"
Source: http://www.reuters.com/article/us-jpmorgan-cyber-bitcoin-idUSKCN11P2DE
And they're just who understand if bitcoin is equal with the fiat currency or in this day called by money at this time. I don't think so... Source: http://www.reuters.com/article/us-jpmorgan-cyber-bitcoin-idUSKCN11P2DE
And at the bitcoin is get their gold moment in the $1000+ where them?what they're doing?
Bitcoin is already currency for the global the digital civilians.
And so what the another will go out?
too late for recognize if bitcoin is money or the correct is equal to money.
This is just for a single corner of the world. In my country bitcoin is not yet categorized so it could be a currency, digital goods or computer software. In my opinion the laws around the world should see it through single glass and consider it a single entity so that it will be easier to transact on international through legal point of view.
In an ideal world that would be a good thing, but with countries including corrupt third world countries, and countries such as Russia, that's not possible. There always have to be some countries being different and way more harsh on Bitcoin than others. That being said, I am quite satisfied with how things are right now here in Europe.
this only sounds like a good news but it has nothing to do with the actual regulation of bitcoin and announcing it as an official money. it is just a one case basis kind of thing that one judge ruled it as money and it is only restricted to one nation not the whole world or even country.
Definitely a good news. Even if many here say that it is only in New York still it is a good thing that it was recognized by a busy state in the USA. Hold on your seats because we will see a drastic change in bitcoin world. Many investors and people will starting to invest bitcoins. People will be open to it and would not worry about bitcoin since some people thought that bitcoin is a scam and is for illegal doings.
This is just for a single corner of the world. In my country bitcoin is not yet categorized so it could be a currency, digital goods or computer software. In my opinion the laws around the world should see it through single glass and consider it a single entity so that it will be easier to transact on international through legal point of view.
I think the government did recognize BTC at least as a commodity "taking taxes on it and the FBI selling it", This is a development though considering they declare it as money rather than just a commodity..
That's pretty cool if you ask me. an epic milestone going largely unspoken of...
It always was money, and arguably better money than fiat money.
It's just that the government only realized that just now. (or at least declared it so that they can get more favorable taxes or whatever).
It's just that the government only realized that just now. (or at least declared it so that they can get more favorable taxes or whatever).
It is good news if bitcoin be considered money and not gold on internet because there is fees or taxes for mining bitcoin on every countries. And i think it will there is taxes for trading if all of countries adopted it.
This a good news...sounds good.....but also look forward to it in my country...... I just hope it will here officially too..
For mere pronunciation by the judge does not mean its now a legal tender as it still has to go through various process to make it one and fully function as money....
This a good news...sounds good.....but also look forward to it in my country...... I just hope it will here officially too..
A very good news. It would be only on that state but having declared and ruled by the judge at the most busy state New York, people will finally got interested and curious about bitcoin. People will not be afraid anymore using it or engaging with it. My friends will not ask if it is legal or a scam. It will really help the bitcoin community. If many people will demand bitcoins then its price will surely kick as more people demands it then there would be a little supply of it. I mean it would be hard for people to have some bitcoins just like that.
since it first appeared bitcoin is money in the form of digital because now era information anything carried in digital form.
this is just new york.
Exactly, one state in one country and one ruling. It takes more than that to bitcoin be recognized as anything but it is a step in a good way.
Well this is interesting for sure but I've always liked the basis that bitcoin's worth comes from the user-base and can be used for many other things other than just being "money". Anyway it's just a state ruling and not anything at federal level so not exactly ground-breaking or anything like that.
So if Bitcoin is now officially recognized as money in the state of New York, does this mean that people can legally offer to pay with Bitcoin and the vendors are obliged to honor Bitcoin as a legitimate method of payment?
I don't know, the article is not about judge declaring bitcoin as official money in a sense to regulate it or not. OP is not providing enough information and i don't think much people here read the article itself. it is about the judge saying it is official money to be able to prosecute someone who was using bitcoin for his business.
"Bitcoin qualifies as money, a federal judge ruled on Monday"
Source: http://www.reuters.com/article/us-jpmorgan-cyber-bitcoin-idUSKCN11P2DE
Source: http://www.reuters.com/article/us-jpmorgan-cyber-bitcoin-idUSKCN11P2DE
Bitcoin was money before that.
A judge can`t decide wether or not bitcoin is money or no.
Anyway,it`s good that a judge admits that bitcoin is money.
So if Bitcoin is now officially recognized as money in the state of New York, does this mean that people can legally offer to pay with Bitcoin and the vendors are obliged to honor Bitcoin as a legitimate method of payment?
Well thats a big step to take and implement instant, but knowing that they recognize bitcoin as money its already the best thing to happen, but till it achieve merchants and the market it may take a bit more.
Yo so another good news i guess. 1 step is enough to make next steps automatically happen in Other country. Since developed country accept bitcoin as money so next developing country would file the same and finally we'll have bitcoin as money and no one can spot l stop ya from earning bitcoin.
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