keithers
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This is the land of wolves now & you're not a wolf
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March 27, 2014, 01:55:22 AM |
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It is a currency. Do you mean if it was fully adopted as a main currency or something?
It basically is a currency if you interpret the definition of a currency literally. You cannot typically buy things with property (without bartering), nor can you flip your physical property into fiat (without a pawn shop)... |
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southerngentuk
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Sugars.zone | DatingFi - Earn for Posting
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March 27, 2014, 03:19:20 AM
Last edit: March 27, 2014, 03:32:35 AM by southerngentuk |
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Lets all pitch in and buy a sovereign Island, declare its official currency as bitcoin. Setup our own exchange there and a data center to host pools. Think of the press that would get  Just need to find an Island now  Edit : Forget the Island, Bitcoin to the Moon ^^ |
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JohnnyBTCSeed
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March 27, 2014, 05:51:01 AM |
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Lets all pitch in and buy a sovereign Island, declare its official currency as bitcoin. Setup our own exchange there and a data center to host pools. Think of the press that would get Just need to find an Island now Edit : Forget the Island, Bitcoin to the Moon ^^ |
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counter
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March 27, 2014, 05:51:45 AM |
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If by currency you mean excepted by the vampire parasitic system and brought mainstream so users can be taxed to death and a small group of scum can control it...
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Bit_Happy
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A Great Time to Start Something!
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March 27, 2014, 05:53:48 AM |
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Bitcoin is a currency...
Don't let the Gov create your reality.
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cheri0
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March 27, 2014, 05:55:20 AM |
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it would be very cool if it become more convinient in usage, and if it's accepted everywhere in the world
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BitOnyx
Member
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Cryptocurrencies Exchange
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March 27, 2014, 08:12:05 AM |
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Modern understanding of currency is something issued by state.
I hope it won't be currency, I prefer it as meta currency.
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Eastwind
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March 27, 2014, 09:13:32 AM |
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If BTC is a property, not a currency, would Money Transfer Business licence still be applied?
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S4VV4S
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March 27, 2014, 09:32:06 AM |
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Can someone explain to me HOW Bitcoin is property?
What kind of property? Intellectual?
Or like a house or a car? Which you can touch.
Because even if it is intellectual property it does NOT belong to anyone else other than it's creator, and that is Satoshi.
Am I wrong here?
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cbeast
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Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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March 27, 2014, 09:39:37 AM |
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Can someone explain to me HOW Bitcoin is property?
What kind of property? Intellectual?
Or like a house or a car? Which you can touch.
Because even if it is intellectual property it does NOT belong to anyone else other than it's creator, and that is Satoshi.
Am I wrong here?
The USA motto is "In God We Trust." Any other questions about what they believe is real? |
Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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counter
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March 27, 2014, 10:19:24 AM |
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Bitcoin is a currency...
Don't let the Gov create your reality.
Well said , I have to admit my previous posts was subconsciously influenced by the "news" in this thread. Thanks for pointing it out.  |
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hilariousandco
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Join the world-leading crypto sportsbook NOW!
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March 27, 2014, 11:53:10 AM |
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Can someone explain to me HOW Bitcoin is property?
I dunno, probably property as in you own it; it's a thing. |
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chufchuf
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March 27, 2014, 11:58:48 AM |
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Bitcoin isn't stable enough to be a currency..Bitcoin is just a prototype, once a better coin comes out or maybe it's out already? will replace Bitcoin and render it useless. Now that new coin will be a currency.
No need for that when you've already got banks/paypal and the dollar. As if the coin wouldn't be the same exact thing as logging online to your government-run bank/paypal... |
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S4VV4S
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March 27, 2014, 12:02:18 PM |
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Can someone explain to me HOW Bitcoin is property?
I dunno, probably property as in you own it; it's a thing. That is exactly my point. I own a lot of virtual products but they are not considered my "property", they are considered virtual products which I happened to have purchased and use(d) <-- And by law that is the only thing I am allowed to do with my legally purchased virtual products. If there is ANY property rights involved it's intellectual property which belongs to the company that sold it to me. And I am still confused about the "property" thing regarding Bitcoin. They could have classified it as a virtual product and TAX it... but property??..... Common...... |
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hilariousandco
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March 27, 2014, 12:28:00 PM |
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Can someone explain to me HOW Bitcoin is property?
I dunno, probably property as in you own it; it's a thing. That is exactly my point. I own a lot of virtual products but they are not considered my "property", they are considered virtual products which I happened to have purchased and use(d) <-- And by law that is the only thing I am allowed to do with my legally purchased virtual products. If there is ANY property rights involved it's intellectual property which belongs to the company that sold it to me. And I am still confused about the "property" thing regarding Bitcoin. They could have classified it as a virtual product and TAX it... but property??..... Common...... I think the people who makes these laws don't adhere to logic. |
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ShawnLeary
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June 02, 2014, 07:48:55 AM |
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What if, a small nation with its own currency, let's say Solomon Islands, decided to forgo their own Solomon Islands dollar (SBD) as their currency and adopt Bitcoin as their reserve currency? At this point, wouldn't every other UN nation have to appreciate Bitcoin as a currency and treat it as such? The amount of money saved by some of the early adopters, in terms of capital gains, might be enough to actually go and buy the Solomon Islands to make this happen  |
"We have the power to begin the world over again" - Thomas Paine
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chennan
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June 02, 2014, 09:18:13 AM |
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Bitcoin isn't stable enough to be a currency..Bitcoin is just a prototype, once a better coin comes out or maybe it's out already? will replace Bitcoin and render it useless. Now that new coin will be a currency.
OP means what if. |
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chennan
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June 02, 2014, 09:30:44 AM |
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Can someone explain to me HOW Bitcoin is property?
I dunno, probably property as in you own it; it's a thing. That is exactly my point. I own a lot of virtual products but they are not considered my "property", they are considered virtual products which I happened to have purchased and use(d) <-- And by law that is the only thing I am allowed to do with my legally purchased virtual products. If there is ANY property rights involved it's intellectual property which belongs to the company that sold it to me. And I am still confused about the "property" thing regarding Bitcoin. They could have classified it as a virtual product and TAX it... but property??..... Common...... I think BTC is special virtual product. The law makers just want to classify it under current law and can't claim it to be currency. So they can better regulate and tax it. |
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lihuajkl
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Merit: 1000
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June 02, 2014, 09:44:12 AM |
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but even fiat currencies fluctuate.
Yep, even with all the political and economical power, and all the armies in the world, engaged at keeping their values stable. No wonder Bitcoin fluctuates True. Once it becomes currency, the price of BTC would be more stable and less fluctuate. People around the world are willing to buy and keep it. |
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MegaHustlr
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June 02, 2014, 10:02:37 AM |
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Lets all pitch in and buy a sovereign Island, declare its official currency as bitcoin. Setup our own exchange there and a data center to host pools. Think of the press that would get Just need to find an Island now Edit : Forget the Island, Bitcoin to the Moon ^^ It would be complete chaos without a proper government. The island's population would probably die off within a few months....  |
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