Cartmell v. Bitcoinica | Bitcointalksearch.org

molecular

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Quote from: ArticMine on August 09, 2012, 05:45:24 PM

Quote from: SaltySpitoon on August 09, 2012, 05:34:41 PM

I feel this will set a bad legal precedent if it goes through. Bitcoin so far has been able to avoid any regulation, because it is deemed "play money" If there is a court case that recognized Bitcoin as a currency, prepare for incoming regulation.

Recognition of Bitcoin as money by governments is only a matter of time. I suspect they will call it "virtual currency" as this is the term used by both FINTRAC in Canada and the FBI in the United States.

lol, "virtual currency"... in contrast to "real money"?? they got it all backwards Wink

BCB

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BCJ

FYI, I filed a complaint to get access to personal information relating to the ip's and phone numbers of scammer BTCmover with the Canadian Anti-Fraud Centre which is a division of the Canadian Mountain Police. The "message taker" wanted to know how I shipped the coins electronically? He had never taken a claim like this before. When I told told him they were like facebook credits or game points he paused and bluntly stated that he didn't think there would be follow up on this case.

Evidently some governments don't even want to bother with bitcoin.....yet.

niko

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Quote from: BCB on August 09, 2012, 05:40:12 PM

Quote from: SaltySpitoon on August 09, 2012, 05:34:41 PM

I feel this will set a bad legal precedent if it goes through. Bitcoin so far has been able to avoid any regulation, because it is deemed "play money" If there is a court case that recognized Bitcoin as a currency, prepare for incoming regulation.

I don't agree at all. Once govn't starts ruling on bitcoin you'll see it move more in to the mainstream.

I agree with BCB.

cypherdoc

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Quote from: adamstgBit on August 10, 2012, 10:22:21 PM

LOL! you're so cute!

adamstgBit

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cypherdoc

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Quote from: Matthew N. Wright on August 10, 2012, 06:17:14 PM

Quote from: BCB on August 09, 2012, 05:40:12 PM

Quote from: SaltySpitoon on August 09, 2012, 05:34:41 PM

I feel this will set a bad legal precedent if it goes through. Bitcoin so far has been able to avoid any regulation, because it is deemed "play money" If there is a court case that recognized Bitcoin as a currency, prepare for incoming regulation.

I don't agree at all. Once govn't starts ruling on bitcoin you'll see it move more in to the mainstream.

Bingo. Bitcoin being a part of the legal system as soon as possible will be -good- for bitcoin. When it is considered legal to use it, it will be harder to make it -illegal- as there is already precedence showing it being legal.

how about this?:

http://usahitman.com/realmoney-rp/

"Perhaps the biggest progress Paul made with Bernanke during the exchange came when the Fed Chairman classified gold and silver as alternative currencies. In the past, Bernanke has claimed that central banks only hold gold because of tradition. However, Bernanke’s stance on precious metals appeared more favorable in Wednesday’s exchange. When asked about competing and parallel currencies, Bernanke responded, “On alternative currencies, no one prevents you from holding silver or gold. If you want to its perfectly legal to do that. It’s also perfectly fine to hold euros, yen or whatever else.” Unfortunately, the dollar, euro and yen do not have thousands of years worth of history backing them."

Matthew N. Wright

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Quote from: BCB on August 09, 2012, 05:40:12 PM

Quote from: SaltySpitoon on August 09, 2012, 05:34:41 PM

I feel this will set a bad legal precedent if it goes through. Bitcoin so far has been able to avoid any regulation, because it is deemed "play money" If there is a court case that recognized Bitcoin as a currency, prepare for incoming regulation.

I don't agree at all. Once govn't starts ruling on bitcoin you'll see it move more in to the mainstream.

Bingo. Bitcoin being a part of the legal system as soon as possible will be -good- for bitcoin. When it is considered legal to use it, it will be harder to make it -illegal- as there is already precedence showing it being legal.

ElectricMucus

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FYI Bitcoin has already been deemed a "currency overlay" by the European Union long before that, so it's already "recognized"

zby

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It is now in the press hits forum: http://www.theverge.com/2012/8/10/3233711/second-bitcoin-lawsuit-is-filed-in-california

ArticMine

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Quote from: SaltySpitoon on August 09, 2012, 05:34:41 PM

I feel this will set a bad legal precedent if it goes through. Bitcoin so far has been able to avoid any regulation, because it is deemed "play money" If there is a court case that recognized Bitcoin as a currency, prepare for incoming regulation.

Recognition of Bitcoin as money by governments is only a matter of time. I suspect they will call it "virtual currency" as this is the term used by both FINTRAC in Canada and the FBI in the United States.

adamstgBit

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Quote from: SaltySpitoon on August 09, 2012, 05:34:41 PM

I feel this will set a bad legal precedent if it goes through. Bitcoin so far has been able to avoid any regulation, because it is deemed "play money" If there is a court case that recognized Bitcoin as a currency, prepare for incoming regulation.

in the end they will not go to court, it will be a settlement ...

if it dose go to court, the court will hear both sides and come up with a verdict, that is all, they aren't their to debate weather bitcoin is currency.

BCB

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BCJ

Quote from: SaltySpitoon on August 09, 2012, 05:34:41 PM

I feel this will set a bad legal precedent if it goes through. Bitcoin so far has been able to avoid any regulation, because it is deemed "play money" If there is a court case that recognized Bitcoin as a currency, prepare for incoming regulation.

I don't agree at all. Once govn't starts ruling on bitcoin you'll see it move more in to the mainstream.

smoothie

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Quote from: SaltySpitoon on August 09, 2012, 05:34:41 PM

I feel this will set a bad legal precedent if it goes through. Bitcoin so far has been able to avoid any regulation, because it is deemed "play money" If there is a court case that recognized Bitcoin as a currency, prepare for incoming regulation.

The exchanges would be regulated at best...not bitcoin.

SaltySpitoon

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Welcome to the SaltySpitoon, how Tough are ya?

I feel this will set a bad legal precedent if it goes through. Bitcoin so far has been able to avoid any regulation, because it is deemed "play money" If there is a court case that recognized Bitcoin as a currency, prepare for incoming regulation.

zby

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https://bitcointalksearch.org/topic/worlds-first-bitcoin-lawsuit-cartmell-v-bitcoinica-99222

Do you guys expect this could be something significant? After TradeHill and Bitcoinica itself I felt a bit concerned and moved my assets out from Intersango. I also think it can trigger a wave of profit realising.

Topic: Cartmell v. Bitcoinica (Read 1668 times)