[2015-09-19] BS: The Bitcoin community disagrees on what happens next

[polynesia]

The Bitcoin community disagrees on what happens next

http://www.business-standard.com/article/international/the-bitcoin-community-disagrees-on-what-happens-next-115091900668_1.html

The US Internal Revenue Service thinks bitcoin is property; a federal judge thinks it's a currency; now the Commodity Futures Trading Commission (CFTC) has decreed it a commodity. That means the regulator can now bring charges against any wrongdoers trading cryptocurrency futures and options.

Does the ruling change the fundamental nature of what Bitcoin is, and how its advocates will use and develop it? We asked leading members of the bitcoin community for their views.

[1524772132]

1524772132

[tech_solutions]

I'm not terribly surprised and not terribly worried. I think the CFTC has a very weak case here and it's a very creative reinterpretation of what the word commodity means. The ruling will be challenged and judges will apply common sense and decide it to be a currency as happened in the Silk Road case

[dashingriddler]

I'm not terribly surprised and not terribly worried. I think the CFTC has a very weak case here and it's a very creative reinterpretation of what the word commodity means. The ruling will be challenged and judges will apply common sense and decide it to be a currency as happened in the Silk Road case

+1