The reality of regulation

[stan.distortion]

...

[Meuh6879]

what is the problem ?
commercial received bitcoin ... do an invoice in FIAT value.

later in the month, when BTC raise, they convert in FIAT value (of the invoice) and keep the "little rest" in BTC for the old days.

[Bagatell]

"Fortunately, a technology like Bitcoin will lead humanity in its own direction, despite the most eloquent proclamations from kings of any country, or the cowed grovelling of their entranced subjects."

http://moneyandstate.com/reflections-right-privacy-response-nydfs-bitcoin-proposal/

Let's hope Mr. Vorhees is right.

[allthingsluxury]

The reality is, is that government is going to see BTC as a threat to its control over fiat. Yes BTC will be regulated in some way, shape, or form by the government. The question is, will it be effective?

[Fat Ronaldo]

It'll be a long time before it threatens fiat if ever unfortunately. People are just too stupid.

Very few governments care about folks buying smoke or working for cash so long as its small scale, its victimless and it costs too much to chase down so they just aren't interested.

They care because they want their cut of the profits and that's what will happen to bitcoin.

1NpxFwWyWi9gdibJXDkYDFk9krtyiQZuq1

[Wonka]

Regulation is inevitable really. I'm fine with it if they just take their cut when people exchnage it for fiat. I think that's the only way they can do it.

[wayouttheredude]

I think the applicable quote here is this one: If it Moves, Tax it. If it Keeps Moving, Regulate it. And if it Stops Moving, Subsidize it.