Topic: "Bitcoin is REAL Money" Says Federal Judge- NBC News (Read 1057 times)
Bitcoin is memory
I wouldn't be so quick to start cheering.
The implications of it being lawfully regarded as a currency far outweigh the benefits.
The implications of it being lawfully regarded as a currency far outweigh the benefits.
I agree w/ this. Being "money" means it has to be regulated like normal money and that means a lot more governmental noses.
Has to huh? They'll try and fail.
I wouldn't be so quick to start cheering.
The implications of it being lawfully regarded as a currency far outweigh the benefits.
The implications of it being lawfully regarded as a currency far outweigh the benefits.
I agree w/ this. Being "money" means it has to be regulated like normal money and that means a lot more governmental noses.
ignoring NBC's report which is a diluted form of the actual information..
BITCOIN is a CURRENCY. it is not money (government owned FIAT) so it wont be taxed direct, so relax about this point.
but it does atleast validate that bitcoins are a valid possession used for trading. this is like people trading gold for items. or how prisoner's trade cigarettes to avoid butt-rapes.
so if you have ever been duped into a scam, don't think of it as someone stealing money from you, but stealing products from you which you only gave them on the pretence of getting it back
this means just like loaning someone a lawnmower or your TV for a week hoping to get it back, if they dont hand it back then you CAN take them to court. because bitcoin is now a legitimate item and not a mythical/mystical thing with no value.
i would also highlight that you treat them as a item in its own right. and not something of a dollar value. because of this reason:
if you say you gave $1000 of bitcoins to pirate@40 in 2012, you will only get back $1000 (if pirate had any assets left to give anything back at all, that is)
but if you say you gave 100 bitcoins to pirate@40 in 2012($10/BTC), you will get back 100btc or a value to support repurchasing those 100BTC at the time of the courtcase meaning you would get nearer $10,000 (again if pirate had any assets left to give anything back at all)
BITCOIN is a CURRENCY. it is not money (government owned FIAT) so it wont be taxed direct, so relax about this point.
but it does atleast validate that bitcoins are a valid possession used for trading. this is like people trading gold for items. or how prisoner's trade cigarettes to avoid butt-rapes.
so if you have ever been duped into a scam, don't think of it as someone stealing money from you, but stealing products from you which you only gave them on the pretence of getting it back
this means just like loaning someone a lawnmower or your TV for a week hoping to get it back, if they dont hand it back then you CAN take them to court. because bitcoin is now a legitimate item and not a mythical/mystical thing with no value.
i would also highlight that you treat them as a item in its own right. and not something of a dollar value. because of this reason:
if you say you gave $1000 of bitcoins to pirate@40 in 2012, you will only get back $1000 (if pirate had any assets left to give anything back at all, that is)
but if you say you gave 100 bitcoins to pirate@40 in 2012($10/BTC), you will get back 100btc or a value to support repurchasing those 100BTC at the time of the courtcase meaning you would get nearer $10,000 (again if pirate had any assets left to give anything back at all)
If anything it's best that it doesn't get acknowledged as a currency that way it won't be taxed or controlled the way the dollar is.
I wouldn't be so quick to start cheering.
The implications of it being lawfully regarded as a currency far outweigh the benefits.
The implications of it being lawfully regarded as a currency far outweigh the benefits.
this is only going to get better, every year bitcoin is taking over
Bitcoin will be labeled "real" when it is the best for them and it will be labeled "fake" when it is the best for them.
"It is clear that Bitcoin can be used as money. It can be used to purchase goods or services, and as Shavers stated, used to pay for individual living expenses. The only limitation of Bitcoin is that it is limited to those places that accept it as currency. However, it can also be exchanged for conventional currencies, such as the U.S. dollar, Euro, Yen, and Yuan. Therefore, Bitcoin is a currency or form of money, and investors wishing to invest in BTCST provided an investment of money."
Finally
Finally
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