NYSE declares bitcoin "emerging ASSET CLASS"

[techgeek]

Let says bitcoin does go through with being an assest class and its with commodities and what not.

You think the daytraders will dive in for it? if so thats going to be a huge price effect for us as well.

[chmod755]

This is an interesting development.  I agree that it appears to be more of an asset then a currency right now.  I think prices have to stabilize before people seriously start using it as a currency.

Bitcoin is currently about as stable as any other currency.  People are using it as a currency for years.

[cbeast]

Asset Class is kinda vague. Bitcoin is more like cash than bank notes, but they don't want to call it a currency. It's more like a basket reserve currency, but Wall Street doesn't deal with those.

[qiwoman2]

Do we really want wall street kids meddling too much with bitcoin or do we want some really classy hedge fund managers to open up some decent hedge funds for hardcore savers/ I would be more inclined to welcome the latter to be quite honest.

[BillyBobZorton]

Some countries treat it as an asset, some as a foreign currency. FOr example as far as I remember, spain treats it as a foreign currency which means there is no VAT to pay, but in US you would need to pay VAT.

[melody82]

Some countries treat it as an asset, some as a foreign currency. FOr example as far as I remember, spain treats it as a foreign currency which means there is no VAT to pay, but in US you would need to pay VAT.

Isn't it strange how different the classifications are?  I wonder what the different agendas are form the different countries.  Maybe someone at the top in spain is holding some coins and doesn't want them taxed.  Maybe the USA is being a little silly with its classification.  Imagine if you had a hamburger in your hand, stepped over the border into a different country, and it suddenly became a soccer ball.  Weird.

[alh]

Just what I was hoping for: Wall Street'r "recognition" of Bitcoin. Brought to you by the same guys that crashed the US economy in 2007.

[Possum577]

Just what I was hoping for: Wall Street'r "recognition" of Bitcoin. Brought to you by the same guys that crashed the US economy in 2007.

The NYSE didn't cause the 2007 recession, that downturn was caused by mortgage companies, realtors, and greedy homebuyers who wanted to buy more house than they could afford - the primary culprits in the 2007 recession.

Let's try to keep the facts straight!

[Amph]

Some countries treat it as an asset, some as a foreign currency. FOr example as far as I remember, spain treats it as a foreign currency which means there is no VAT to pay, but in US you would need to pay VAT.

this could potentially point to some problem if i want to use srvice that are in another place and sell bitcoin to them, and then they use those to buy thing locally, on they country, like for example if i use a service that pay for me in bitcoin, but they are from spain, and i'm from USA

it could cause some taxes issues...

[jjacob]

Just what I was hoping for: Wall Street'r "recognition" of Bitcoin. Brought to you by the same guys that crashed the US economy in 2007.

The NYSE didn't cause the 2007 recession, that downturn was caused by mortgage companies, realtors, and greedy homebuyers who wanted to buy more house than they could afford - the primary culprits in the 2007 recession.

Let's try to keep the facts straight!

The  mortgage companies are definitely culpable, but who sliced and diced mortgage loans, packaged them and sold them to gullible investors?
Wall Street definitely played a role in screwing Main Street.