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Author Topic: 2012-12-11 theverge.com - Intrade shutdown disrupts betting market on elections,  (Read 1065 times)
julz
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December 12, 2012, 02:35:27 AM
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Brief mention of Bitcoin and the 'Bets of Bitcoin' website as a possible alternative to intrade.

Quote
Intrade shutdown disrupts betting market on elections, air strikes, and celebrity arrests

Adrianne Jeffries
2012-12-11

http://www.theverge.com/2012/12/11/3753082/intrade-shutdown-cftc-us-december-2012

...
Hardcore Intrade addicts can also turn to the tiny prediction market Bets of Bitcoin, where some believe converting your dollars to the internet currency Bitcoin circumvents laws around commodity options because the site isn't using a government-recognized currency.
...

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December 12, 2012, 07:16:07 PM
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Hardcore Intrade addicts can also turn to the tiny prediction market Bets of Bitcoin, where some believe converting your dollars to the internet currency Bitcoin circumvents laws around commodity options because the site isn't using a government-recognized currency.


That's the wrong reason. The usefulness of bitcoin is that it is a censorship-resistant currency, not that it is an government unsanctioned currency.

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December 13, 2012, 06:20:23 AM
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...
Hardcore Intrade addicts can also turn to the tiny prediction market Bets of Bitcoin, where some believe converting your dollars to the internet currency Bitcoin circumvents laws around commodity options because the site isn't using a government-recognized currency.


That's the wrong reason. The usefulness of bitcoin is that it is a censorship-resistant currency, not that it is an government unsanctioned currency.

Fundamentally you are right, that is the real strength of Bitcoin. But while the censorable medium of the normal web is being used another benefit of Bitcoin is that government can't (or maybe just hasn't) recognized it for what it is.

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