VIRTUAL WORLD CASHING IN ON CURRENCY
'Bitcoin' is 'legal gray area' but attracting up to $500k per day
Phil Elmore
2012-10-10
http://www.wnd.com/2012/10/virtual-world-cashing-in-on-currency/The virtual world now is cashing in, to the tune of up to $500,000 daily, on online transactions, even though there remains a “legal gray area” about Bitcoin.
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Kaplanov explains that, as of this writing, there are no cases that challenge the ability of parties in the U.S. to make transactions in bitcoins. In other words, the currency is legal only because no one has yet enacted policy asserting that it isn’t.
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“It’s a sophisticated math algorithm,” insists James Angleton of Aegis FinServ Corp. “[Satoshi] was dissatisfied with the way FOREX works and [the way] government uses it. His ideological theory was to introduce a monetary supply and system that is off grid, yet maintains integrity via stock and mining for its currency rather than [from printing], like the U.S. Treasury creates dollars.”
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“[Bitcoin] is running viral now,” says James Angleton. “If enough people are fed up with Big Brother, the IRS, misuse of funds… they are turning to this system.”
“Like the Internet,” says Vorhees, “Bitcoin will change the way people interact and do business around the world. But it’s a process that takes years, and it’s only just getting started.”
Re WND (from wikipedia)
WorldNetDaily (WND) is an American web site that publishes news and associated content from the perspective of U.S. conservatives and the political right. It was founded in May 1997 by Joseph Farah with the stated intent of "exposing wrongdoing, corruption and abuse of power" and is headquartered in Washington, D.C.
