EU to declare bitcoin as 'overlay currency'

[genjix]

No updated news on an EU directive that is going to take months (if not years).

BTW I should've said currency overlay, not overlay currency as someone correctly pointed out.

I don't post often on the forums, so please direct your questions to me on IRC: genjix in #bitcoinconsultancy

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[fivebells]

What would be the regulatory implications of such a declaration?

[Elwar]

What would be the regulatory implications of such a declaration?

It means that just before Greece crashes and burns they will implement a few stores that use Bitcoins then blame it for the financial collapse.

So "overlay currency" translates to "scapegoat".

j/k

[Frozenace]

The bitcoin economy is peanuts compared to the money that's being thrown around by banks. Everything seems to be credit credit credit anwyay.

You can't really have a negative bitcoin balance in your wallet.

You can't even be sure where your Gold is, if it's not physical Gold in your house.

[matonis]

Maybe we should advertise them as pieces of mathematical art because that's what they are, really

I like the mathematical art analogy. The first legal case will be interesting when defendant has to stand up and spill the bitcoin out of his head because he used BrainWallet. https://en.bitcoin.it/wiki/Brainwallet

[BTCurious]

Watching thread.

[BTCurious]

Oh hey, this was revived from 5 months ago. Nevermind…