Topic: Is Bitcoin legally a Currency? - page 2. (Read 4000 times)
I believe that the Bitcoin Foundation's argument is that in California BTC doesn't meet the definition of a currency.
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"Therefore, Bitcoin is a currency or form of money, and investors wishing to invest in BTCST provided an investment of money."
(Asserted by AMOS L. MAZZANT UNITED STATES MAGISTRATE JUDGE in court opinion order establishing jurisdiction)
"Therefore, Bitcoin is a currency or form of money, and investors wishing to invest in BTCST provided an investment of money."
(Asserted by AMOS L. MAZZANT UNITED STATES MAGISTRATE JUDGE in court opinion order establishing jurisdiction)
Bitcoin is not a real money, it's an online money or virtual tokens alternative to dollar and euros it can be exchanged for goods and services at places that accept it. Bitcoin is a decentralized currency meaning there are no central bank to regulate it it more a p2p transaction.
As long as the virtual currency is accepted to your country then it is legal, besides many people are using it. However bitcoins popularity is unstoppable there are a lot of news going on about it's legality
Bitcoin is money according to one ruling:As long as the virtual currency is accepted to your country then it is legal, besides many people are using it. However bitcoins popularity is unstoppable there are a lot of news going on about it's legality
www.courthousenews.com/2013/08/06/Bitcoin.pdf
Bitcoin is not a real money, it's an online money or virtual tokens alternative to dollar and euros it can be exchanged for goods and services at places that accept it. Bitcoin is a decentralized currency meaning there are no central bank to regulate it it more a p2p transaction.
As long as the virtual currency is accepted to your country then it is legal, besides many people are using it. However bitcoins popularity is unstoppable there are a lot of news going on about it's legality
As long as the virtual currency is accepted to your country then it is legal, besides many people are using it. However bitcoins popularity is unstoppable there are a lot of news going on about it's legality
If he is who he appears to be, he's one of our heroes.
Or at least for those of us old enough to remember BITNET.
Or at least for those of us old enough to remember BITNET.
Still, I found the exact picture used in the profile in a Google Images search. This forum doesn't verify you are who you say you are when you sign up.
Plus it's unusual for someone to actually use their real name.
Of course it's not him, ffs. The real one is an old academic -- old enough to capitalize & use proper grammar when he types. This is a smartphone baby.
[ S]He spews out boilerplate cliches with 0 depth or insight, and his vocab is that of a fourteen-year-old reaching for adult-sounding words.
The thing is, just because Bitcoin is popular is no reason to start forcing regulation on a digital commodity. Bitcoin is essentially a number on a computer screen. I can write a number on a piece of paper and sell it to you for $500. It's the same thing in my opinion.
That's not a very strong argument if you accept that official currencies can be regulated. Most official currencies are also just numbers in a computer. Try replacing "bitcoin" with "euro" in your statement.
There is an important distinction to be made. Due to Bitcoin's decentralized nature, it is nearly impossible for a country or group of countries to regulate Bitcoin itself. However, regulation by a country of the people that use bitcoins (within its jurisdiction) is inevitable.
If he is who he appears to be, he's one of our heroes.
Or at least for those of us old enough to remember BITNET.
Still, I found the exact picture used in the profile in a Google Images search. This forum doesn't verify you are who you say you are when you sign up.Or at least for those of us old enough to remember BITNET.
Plus it's unusual for someone to actually use their real name.
The thing is, just because Bitcoin is popular is no reason to start forcing regulation on a digital commodity. Bitcoin is essentially a number on a computer screen. I can write a number on a piece of paper and sell it to you for $500. It's the same thing in my opinion.
If he is who he appears to be, he's one of our heroes.
Or at least for those of us old enough to remember BITNET.
Or at least for those of us old enough to remember BITNET.
Still, I found the exact picture used in the profile in a Google Images search. This forum doesn't verify you are who you say you are when you sign up.
Plus it's unusual for someone to actually use their real name.
good morning, Expanding demand and growing widespread adoption has forced the hand of regulators. Bitcoin is defined as an open sourced project which presents a number of challenges and opportunities. We are working around the clock to address many of these issues especially relating to the blockchain integrity. If you have any questions i'd be more than happy to answer them for you.. Ira
Who are you
good day, check out the projects we are working on. Happy to help anyway I can..Ira
And I'm still stuck on the "who are you" part. Who is this "we" you keep referring to?
Looked through the link in your profile, but did not see your name anywhere on that website, unless your profile name is not your real name. Keep in mind that this community is VERY skeptical of newbies since they tend to turn out to be scammers more often lately.
If he is who he appears to be, he's one of our heroes.
Or at least for those of us old enough to remember BITNET.
My former company, Infonet, was also a founding member of the Internet Society.
So, either he's one of the good guys, or wearing the mask of one.
good morning, Expanding demand and growing widespread adoption has forced the hand of regulators. Bitcoin is defined as an open sourced project which presents a number of challenges and opportunities. We are working around the clock to address many of these issues especially relating to the blockchain integrity. If you have any questions i'd be more than happy to answer them for you.. Ira
Who are you
good day, check out the projects we are working on. Happy to help anyway I can..Ira
And I'm still stuck on the "who are you" part. Who is this "we" you keep referring to?
Looked through the link in your profile, but did not see your name anywhere on that website, unless your profile name is not your real name. Keep in mind that this community is VERY skeptical of newbies since they tend to turn out to be scammers more often lately.
good morning, Expanding demand and growing widespread adoption has forced the hand of regulators. Bitcoin is defined as an open sourced project which presents a number of challenges and opportunities. We are working around the clock to address many of these issues especially relating to the blockchain integrity. If you have any questions i'd be more than happy to answer them for you.. Ira
Who are you
good day, check out the projects we are working on. Happy to help anyway I can..Ira
Welcome aboard, good to see you here.
I just don't get it.... why people are getting into legal trouble with Bitcoin. How can they say you need a Money transmitter license for Bitcoin? What is the difference between Bitcoin and Swagbucks or XBox points? To me it's just a digital product with no need for Government regulation at all.
Fiat in, fiat out. There is your simple answer..
That is WAY oversimplified. If that was the case, then PayPal would not need to be licensed. Same with MoneyGram, Western Union, Square, etc. Using fiat has nothing to do with it.
That's the problem. All those other companies you mention are licensed, and follow strict gov't guidelines when it comes to anonymity to those transferring large amounts (Over $10,000). There have been a few Bitcoin companies that went legit/are going legit, so you won't have any more problems using them legally then you would using PayPal. But the Cryptocurrency users have been nailing these companies in the forums, and stop doing business with them as using them is "The reason they use Cryptocurrency in the first place for complete anonymity" MtGox is I believe currently going down the route of going legit. It's not hard to find posts on this forum nailing them for doing so.
good morning, Expanding demand and growing widespread adoption has forced the hand of regulators. Bitcoin is defined as an open sourced project which presents a number of challenges and opportunities. We are working around the clock to address many of these issues especially relating to the blockchain integrity. If you have any questions i'd be more than happy to answer them for you.. Ira
Who are you
My bet is that he is Dank.
Unlike Xbox points, you can take your Crypto coins and convert them back into Fiat. This is the reason the US gov't has a target on everything crypto at the moment. All Crypto currency is atm, is a means to digitally transmit Fiat. It may in time grow to become something more. Which is the main reason I am here, not to make money, but would be awesome to be in on something as it is coming out of creation.
And doesn't matter what country in the world you are in (aside from maybe North Korea). Once they put the label that Crypto coins are being used by terrorists to transfer funds, they pretty much will attack cryptocurrencies in no matter what country you happen to be doing business.
And doesn't matter what country in the world you are in (aside from maybe North Korea). Once they put the label that Crypto coins are being used by terrorists to transfer funds, they pretty much will attack cryptocurrencies in no matter what country you happen to be doing business.
good morning, Expanding demand and growing widespread adoption has forced the hand of regulators. Bitcoin is defined as an open sourced project which presents a number of challenges and opportunities. We are working around the clock to address many of these issues especially relating to the blockchain integrity. If you have any questions i'd be more than happy to answer them for you.. Ira
Who are you
I just don't get it.... why people are getting into legal trouble with Bitcoin. How can they say you need a Money transmitter license for Bitcoin? What is the difference between Bitcoin and Swagbucks or XBox points? To me it's just a digital product with no need for Government regulation at all.
Fiat in, fiat out. There is your simple answer..
That is WAY oversimplified. If that was the case, then PayPal would not need to be licensed. Same with MoneyGram, Western Union, Square, etc. Using fiat has nothing to do with it.
I just don't get it.... why people are getting into legal trouble with Bitcoin. How can they say you need a Money transmitter license for Bitcoin? What is the difference between Bitcoin and Swagbucks or XBox points? To me it's just a digital product with no need for Government regulation at all.
Fiat in, fiat out. There is your simple answer..
Buy unusual hat (TF2) with USD, sell unusual hat.
Everything can be defined as "Fiat in, fiat out" as soon as it have a value.
Quote
c. De-Centralized Virtual Currencies
A final type of convertible virtual currency activity involves a de-centralized convertible virtual currency (1) that has no central repository and no single administrator, and (2) that persons may obtain by their own computing or manufacturing effort.
A person that creates units of this convertible virtual currency and uses it to purchase real or virtual goods and services is a user of the convertible virtual currency and not subject to regulation as a money transmitter. By contrast, a person that creates units of convertible virtual currency and sells those units to another person for real currency or its equivalent is engaged in transmission to another location and is a money transmitter. In addition, a person is an exchanger and a money transmitter if the person accepts such de-centralized convertible virtual currency from one person and transmits it to another person as part of the acceptance and transfer of currency, funds, or other value that substitutes for currency.
A final type of convertible virtual currency activity involves a de-centralized convertible virtual currency (1) that has no central repository and no single administrator, and (2) that persons may obtain by their own computing or manufacturing effort.
A person that creates units of this convertible virtual currency and uses it to purchase real or virtual goods and services is a user of the convertible virtual currency and not subject to regulation as a money transmitter. By contrast, a person that creates units of convertible virtual currency and sells those units to another person for real currency or its equivalent is engaged in transmission to another location and is a money transmitter. In addition, a person is an exchanger and a money transmitter if the person accepts such de-centralized convertible virtual currency from one person and transmits it to another person as part of the acceptance and transfer of currency, funds, or other value that substitutes for currency.
From http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html
I just don't get it.... why people are getting into legal trouble with Bitcoin. How can they say you need a Money transmitter license for Bitcoin? What is the difference between Bitcoin and Swagbucks or XBox points? To me it's just a digital product with no need for Government regulation at all.
Fiat in, fiat out. There is your simple answer..
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