Bitcoin Forum
December 08, 2016, 08:02:54 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: What U.S. Regulations Apply to Bitcoins as Commodities?  (Read 1856 times)
is4tomj
Jr. Member
*
Offline Offline

Activity: 48



View Profile WWW
February 20, 2012, 03:46:17 PM
 #1

Hi, below is a link to a blog post on what U.S. regulations apply to bitcoins as commodities.

http://blog.bitcointitan.com/post/17789738826/what-u-s-regulations-apply-to-bitcoins-as-commodities

http://BitcoinTitan.com - Visualizations of the Bitcoin Markets and Exchanges
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481184174
Hero Member
*
Offline Offline

Posts: 1481184174

View Profile Personal Message (Offline)

Ignore
1481184174
Reply with quote  #2

1481184174
Report to moderator
JDBound
Full Member
***
Offline Offline

Activity: 121



View Profile
February 20, 2012, 04:49:23 PM
 #2

...to bitcoins as commodities.
Quote
Bitcoins are commodities.  ...A thing is tangible if it is “[c]apable of being possessed or realized; readily apprehensible by the mind; real; substantial; evident.”  Ballentine’s Law Dictionary; See Williams v Board of Comrs. 84 Kan 508, 114 P 858.  Bitcoins are clearly useful articles of commerce capable of being possessed.

This is pure conjecture. While some amount of speculation on potential juridical outcomes can be constructive, making such statements in conclusory terms like you have can only lead to confusion on this issue. As I am sure you are aware, there is no case, nor any pending litigation which purports to give an opinion on the issues you raise here. I suggest you rework some of your phrasing to reflect this reality.
is4tomj
Jr. Member
*
Offline Offline

Activity: 48



View Profile WWW
February 20, 2012, 06:55:17 PM
 #3

...to bitcoins as commodities.
Quote
Bitcoins are commodities.  ...A thing is tangible if it is “[c]apable of being possessed or realized; readily apprehensible by the mind; real; substantial; evident.”  Ballentine’s Law Dictionary; See Williams v Board of Comrs. 84 Kan 508, 114 P 858.  Bitcoins are clearly useful articles of commerce capable of being possessed.

This is pure conjecture. While some amount of speculation on potential juridical outcomes can be constructive, making such statements in conclusory terms like you have can only lead to confusion on this issue. As I am sure you are aware, there is no case, nor any pending litigation which purports to give an opinion on the issues you raise here. I suggest you rework some of your phrasing to reflect this reality.

Thank you for your comment and concern.

Conclusions are a part of legal writing.  Conclusory means offering a conclusion without supporting evidence.  As you will see, even from just from the paragraph you quoted, my conclusions are supported by legal arguments, and properly cite legally authoritative sources.

I think people are comfortable with the idea that bitcoins are used in commerce, however, I am surprised that people do not inherently realize that bitcoins are capable of being possessed.  I will supplement that paragraph shortly with further citation to U.S. code and cases where digital articles, e.g., electronic chattel paper, U.S. dollars distributed electronically, contracts, illicit pictures on a hard drive.

http://BitcoinTitan.com - Visualizations of the Bitcoin Markets and Exchanges
is4tomj
Jr. Member
*
Offline Offline

Activity: 48



View Profile WWW
February 20, 2012, 10:02:50 PM
 #4

I updated my blog post to further elaborate on how bitcoins are capable of being possessed.

http://BitcoinTitan.com - Visualizations of the Bitcoin Markets and Exchanges
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!