Bitcoin is not Money - Florida judge

[revo999]

http://satoshibonus.blogspot.com/2016/07/bitcoin-is-not-money-florida-judge.html

[Decoded]

Money in its current sense is an asset backed by Gold and it's local currency. Bitcoin has neither of these traits. Therefore yes, bitcoin isn't money in a legal sense. It is an asset.

But colloquially, bitcoin is money.

P.s. Your site is so horribly Laden with ads. This site is not the best for advertising, sig spammers don't read links btw.

[rphk]

as i know bitcoin is money in digital world , but only things it is not directly dependent economy of the country like fiat money, but in future i will believe bitcoin has more value it will be accepted as main currency  

[revo999]

Money in its current sense is an asset backed by Gold and it's local currency. Bitcoin has neither of these traits. Therefore yes, bitcoin isn't money in a legal sense. It is an asset.

But colloquially, bitcoin is money.

P.s. Your site is so horribly Laden with ads. This site is not the best for advertising, sig spammers don't read links btw.

After creating several managed and beautiful websites, this site is small part of Experiment

Money or No money

This is big Source of MONEY LAUNDERING

[shinratensei_]

Money in its current sense is an asset backed by Gold and it's local currency. Bitcoin has neither of these traits. Therefore yes, bitcoin isn't money in a legal sense. It is an asset.

But colloquially, bitcoin is money.

P.s. Your site is so horribly Laden with ads. This site is not the best for advertising, sig spammers don't read links btw.

But it's happened a lot of changing perception in our environment, according to a rule about the definition of money, maybe bitcoin not having a requirement for that.
but bitcoin having a value like a money.

[Divinespark]

Bitcoin, as gold used to be in the past, is proof of work-based money. Maybe the judge in question needs to read up on his Austrian economists.

[Vintry Dribbler 1975]

http://satoshibonus.blogspot.com/2016/07/bitcoin-is-not-money-florida-judge.html

I don't feel inclined to follow the link for no other reason than it's a blogspot journal entry.  If there were a quote posted here, or even a link to a more reliable site such as Fox or CNN then I might be interested, but as the second poster has already alluded to, the site is no doubt full of banner adds, so it's probably just click bait.

[revo999]

http://satoshibonus.blogspot.com/2016/07/bitcoin-is-not-money-florida-judge.html

I don't feel inclined to follow the link for no other reason than it's a blogspot journal entry.  If there were a quote posted here, or even a link to a more reliable site such as Fox or CNN then I might be interested, but as the second poster has already alluded to, the site is no doubt full of banner adds, so it's probably just click bait.

Sources of the News is mentioned in the page

[avikz]

I support that. Bitcoin is technically not money. It doesn't have the basic characteristics of being a money as it is not backed by any tangible asset. It is backed only by public trust.

But bitcoin has an enormous value in the market. So if the judge said that bitcoin is not money, it may pave the way of free use of bitcoin in that state. But it does not impact any bitcoin user I guess. The trust of the public is rock solid. 

[Mauser]

http://satoshibonus.blogspot.com/2016/07/bitcoin-is-not-money-florida-judge.html

So sad how the western governments are afraid of cryptocurrencies. They probably know they can't stop us.

[helloeverybody]

I thought these days even most countries fiat is not backed by gold anymore due to these countrys printing off more currency than they have reserves of gold in theiir safes, therefore most countrys money is notactually backed by anything other than trust that the bank will honour the agreement. I thought the same would go for bitcoin except that its backed by hashing power. I dont know if its good or bad that this judge say that bitcoin isnt a currency but i dont think her opinion really matters too much.

[NorrisK]

I thought these days even most countries fiat is not backed by gold anymore due to these countrys printing off more currency than they have reserves of gold in theiir safes, therefore most countrys money is notactually backed by anything other than trust that the bank will honour the agreement. I thought the same would go for bitcoin except that its backed by hashing power. I dont know if its good or bad that this judge say that bitcoin isnt a currency but i dont think her opinion really matters too much.

You are right. Modern fiat currencies are not backed by gold anymore and are instead backed by trust in the government.

For US dollars the gold standard was abandonded by Nixon in 1971.

[sobsitesearch]

For me i consider bitcoin as a money/currency cause you can purchase item using bitcoin you can pay bills in terms of bitcoin how will go transaction and getting paid if bitcoin is not a money?

[7788bitcoin]

I think this shows that bitcoin is still in its infancy which many refused to agree with the value. Hopefully in 10 years' time this will be changed.

[ObscureBean]

That guy must have been ecstatic but I'm not sure this ruling is good for Bitcoin. That judge is literally saying go ahead guys you can launder your money peacefully now. Most Bitcoiners will probably be happy that they are free to use their Bitcoins are they please but personally I think this might be a small step backwards when it comes to integrating Bitcoin into society.

[shorena]

http://satoshibonus.blogspot.com/2016/07/bitcoin-is-not-money-florida-judge.html

I don't feel inclined to follow the link for no other reason than it's a blogspot journal entry.  If there were a quote posted here, or even a link to a more reliable site such as Fox or CNN then I might be interested, but as the second poster has already alluded to, the site is no doubt full of banner adds, so it's probably just click bait.

There are different sources for this:

“The court is not an expert in economics; however, it is very clear, even to someone with limited knowledge in the area, the Bitcoin has a long way to go before it the equivalent of money,” Pooler wrote in an eight-page order.

source: http://www.miamiherald.com/news/local/crime/article91682102.html

A judge dismissed a widely watched money laundering case in Florida on Monday by ruling that Bitcoin, the cryptocurrency, is not money.

source: http://fortune.com/2016/07/25/bitcoin-money-laundering-miami-judge/

Judge Teresa Mary Pooler sided with the defense's argument that bitcoin doesn't constitute a form of money within the confines of Florida’s legal system, stating in a ruling issued today that Michell Espinoza doesn't qualify as a money transmitter as argued by the prosecution.

source: http://www.coindesk.com/court-reject-bitcoin-money-florida-espinoza-trial/

"Bitcoin may have some attributes in common with what we commonly refer to as money, but differ in many important aspects," Pooler said in a ruling made public Monday. "They are certainly not tangible wealth and cannot be hidden under a mattress like cash and gold bars."

source: http://www.bloomberg.com/news/articles/2016-07-25/florida-state-judge-rules-bitcoin-doesn-t-qualify-as-money

etc. pp

Which of those are filled with ads I cant tell, my adblocker/no java script combo works pretty well most of the time.

[revo999]

first they will Ignore and allow MONEY LAUNDERING

Then they will built a Case against BITCOIN and strict exchange rules

[helloeverybody]

first they will Ignore and allow MONEY LAUNDERING

Then they will built a Case against BITCOIN and strict exchange rules

There already is strict rules in place for American exchanges,  new York got fucked over some time ago for exchanges and coinbase wants to know what you had for dinner last night.

[davis196]

http://satoshibonus.blogspot.com/2016/07/bitcoin-is-not-money-florida-judge.html

Bitcoin is money and it doesn`t matter what a florida judge thinks about that.

By the way,put some text in your thread OP,not just a link.

It looks like you are only promoting a blogspot with ads.

[isvicre]

I didn't visit your site because I know what you're up to but what a Florida judge says on btc matters not. I doubt it will even set precendent in Florida once the feds push their agenda.