More news about bitcoin
Florida passes law making crimes with bitcoin money laundering
I couldn't help smiling when I read this:
"the officers claim that they told Espinoza specifically that they intended to use the money “to buy stolen credit-card numbers""
They tried to frame the guy by making up a hypothetical crime.
that is shameful.
when an emp strikes and electricity goes haywire bitcoin becomes useless. unless i guess we all migrate to underground fiber bunkers and transmit it hardwired.
also that 1$ steam game i bought off a site that accepted bitcoin in 2011 is now worth like $113
fml
When the economies of the world are crashed it will be a barter economy where only needs are valued for trade.
Crypto-currencies just like like gold and silver will not be acceptable as it cannot be eaten or used as clothing, fuel, medicine, and other necessities.
Bitcoin and ether are valuable now to make anonymous transactions, so i would use it now for something useful but restricted such as a firearm.
U.S. based crypto currency exchanges moving to Florida in 5...4...3...
Fucking Jews man
Edit: /s... Jewish bankers man
I've read the thread a bit and I think there needs to be some clarification.
Money and currency are two different things.
Money is something that is generally accepted as payment for goods, services and debts. Money functions as medium of exchange, unit of account, and a way to store value. Really, anything can be money if both parties have confidence that the thing is money, AKA something that is a medium of exchange, unit of account, or way to store value.
Currency, is the implementation of money within a country (I suppose it could be a society or something too....details...details...); I.E. A system of money.
Now that that's out of the way, is the FL judge erroneous in his judgement? Well, what did the judge actually say regarding bitcoin as money??
Since I don't have a way to parse this scan of the court order to pull out words, here is a snap shot of the part where the judge comments about bitcoin as money.
TL;DR on judge's official statement that bitcoin is not money:
The judge basically states that bitcoin is not a commonly used means of exchange, is not accepted by all merchants or service providers, is extremely volatile and therefore does not act as a good store of value, and it lacks ways to curb the volatility. Therefore it is not money.
I don't think he understands the difference between money and currency. Since anything can be money as long as both parties have confidence in it, Bitcoin is clearly money.
However! If you take what he says about Bitcoin and apply it to currency, the implementation of money within a country, everything he says makes more sense. A good currency follows all the definitions of money described above AND is relatively stable. No government is going to make a legal tender out of something that is not stable or at least not knowingly stable. Bitcoin sure as shit is not a currency.
IMO he made an error here with his definitions. He should have said Bitcoin isn't currency. That said, I agree with the outcome in Count I. I'll leave Count II and III alone.
Thought: Does FL law distinguish the differences between currency and money? hmmmm...
Also I think it's funny that someone involved in a Bitcoin case had this name:
If it ain't money I don't pay tax on it it's not a profit
Bitcoin is more alike to a stock than to money. It can be used like currency, but its not stable like money and it doesn't have a governing body like money. Its value is constantly changing majorly, much alike to a stock. Its kind of like a stock that people will exchange for goods.
Allot of houses sit abandoned and vacant cause the sub-prime loan bundled and re bundled and sold so many times that it will take allot to find out who owns it.
Blockchain may fix that.
Also if nations start to default on the insane debt they have run up blockchain can distribute that debt to the population and every citizen can acquire a portion of that nations financial responsibility
Julian Assange
"To prove he was alive, he went on the internet last night and read off the hash code from the most recent block in the Bitcoin blockchain that had just been mined."
Nah. It's just money. It has no similarities to stock aside from being volatile (Bitcoin is way more volatile than stock though.) and a store of value. You don't get a portion of profits, dividends, voting rights if you hold enough stock, etc. Oh and it's not tied to a company and their performance.
All in all, the judge goofed IMO. It's 100% money but not currency.
Scary but interesting. In this scenario I suppose they would tie some kinda of SS# or national ID number to it.
It gets scarier when they want to put that number on the right hand or forehead.
