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Title: P2P Crypto-Utility or P2P Virtual Currency? Post by: cloud9 on June 07, 2011, 11:04:54 AM Is Bitcoins an accounting utility or a currency when legally defined?
The formal description of Bitcoin on bitcoin.org states it is a currency. Is the right to mobile phone network airtime a digital radio wave utility commodity that enables the holder of the right to communicate voice or data on a Network over vast distances? Is the cryptographic key pair right to a network working at a high hash rate to secure values attributed to a key pair right a digital utility commodity? In short - is Bitcoin.org a crypto-commodity like MtGox sells / buys for fiat currency? Does bitcoin.org view bitcoins bought from someone to be bartered when exchanged for goods / services? Can bitcoins be used as medium of exchange in barter transactions for the digital age, like pebbles, eggs, salt, gold, mobile airtime, etc., have been used in other ages / different communities as medium of exchange in barter transactions? Or is bitcoin.org proposing a rival currency to national currencies? Which of the above would be legal under the current social contract? Title: Re: Is Bitcoin a digital utility or a currency? Post by: billyjoeallen on June 07, 2011, 11:30:59 AM The formal description of Bitcoin on bitcoin.org states it is a currency. Is the right to mobile phone network airtime a digital radio wave utility commodity that enables the holder of the right to communicate voice or data on a Network over vast distances? Is the cryptographic key pair right to a network working at a high hash rate to secure values attributed to a key pair right a digital utility commodity? In short - is Bitcoin.org a crypto-commodity like MtGox sells / buys for fiat currency? Does bitcoin.org view bitcoins bought from someone to be bartered when exchanged for goods / services? Can bitcoins be used as medium of exchange in barter transactions for the digital age, like pebbles, eggs, salt, gold, mobile airtime, etc., have been used in other ages / different communities as medium of exchange in barter transactions? Or is bitcoin.org proposing a rival currency to national currencies? Which of the above would be legal under the current social contract? I didn't agree to any social contract. Title: Re: Is Bitcoin a digital utility or a currency? Post by: cloud9 on June 07, 2011, 12:30:32 PM Are you not - if you live in a democracy that determines the social contract?
Title: Re: Is Bitcoin a digital utility or a currency? Post by: cloud9 on June 07, 2011, 12:36:04 PM In which democracies is barter trade currently allowed?
Title: Re: Is Bitcoin a digital utility or a currency? Post by: kokjo on June 07, 2011, 12:37:58 PM pleas don't do double spacing it annoyes me.
Title: Re: Is Bitcoin a digital utility or a currency? Post by: srb123 on June 07, 2011, 12:46:23 PM The formal description of Bitcoin on bitcoin.org states it is a currency. Is the right to mobile phone network airtime a digital radio wave utility commodity that enables the holder of the right to communicate voice or data on a Network over vast distances? Is the cryptographic key pair right to a network working at a high hash rate to secure values attributed to a key pair right a digital utility commodity? In short - is Bitcoin.org a crypto-commodity like MtGox sells / buys for fiat currency? Does bitcoin.org view bitcoins bought from someone to be bartered when exchanged for goods / services? Can bitcoins be used as medium of exchange in barter transactions for the digital age, like pebbles, eggs, salt, gold, mobile airtime, etc., have been used in other ages / different communities as medium of exchange in barter transactions? Or is bitcoin.org proposing a rival currency to national currencies? Which of the above would be legal under the current social contract? Are you a poorly coded bot that generates random questions and has a glitch that makes double spaces ?? Title: Re: Is Bitcoin a digital utility or a currency? Post by: justusranvier on June 07, 2011, 12:49:17 PM The Social Contract: Defined and Destroyed in under 5 mins (http://www.youtube.com/watch?v=jNj0VhK19QU)
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