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Author Topic: [2014-08-10] Business Insider: Britain May Embrace Bitcoin  (Read 1164 times)
botany
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August 10, 2014, 06:15:18 AM
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Britain May Embrace Bitcoin As A Legitimate Currency

http://www.businessinsider.com/britain-regulate-bitcoin-legitimate-currency-2014-8?IR=T

More than 70 years ago Britain’s John Maynard Keynes (of Keynsian economics fame) suggested a “world reserve currency” called the Bancor. The idea didn’t take off then, but in the here and now the regulation of virtual, stateless currencies could be a small step in that direction. Regardless, the UK’s lead could cause other nations to follow, paving a legitimate path for a currency associated with nefarious dealings.

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gmx95
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August 10, 2014, 07:08:11 AM
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Europe is generally more open to the bitcoin idea then the US or other parts of the World. They do not see any danger in it to the banking system and instead just consider it to be part of the whole financial industry.


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August 10, 2014, 07:23:15 AM
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It may not embrace it too and instead try to throttle it for their own gains.

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Osbourne went on to state how important virtual currencies, mobile payments and other digital financial technologies are to modern economies:

    “These alternative payment systems are popular because they are quick, cheap, and convenient – and I want to see whether we can make more use of them for the benefit of the UK economy and British consumers.”

AKA I want to see how best we can steal our cut from this.
botany
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August 10, 2014, 07:26:13 AM
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Europe is generally more open to the bitcoin idea then the US or other parts of the World. They do not see any danger in it to the banking system and instead just consider it to be part of the whole financial industry.

The US has seen adoption on a larger scale, compared to Europe. But this is changing....
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August 10, 2014, 07:33:50 AM
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I truly hope they do see the greatness behind the technology and the benefit it has to all, and are not just interested in it because of how they can take their share of the pie, which is probably more of the case.

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August 10, 2014, 04:50:55 PM
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It may not embrace it too and instead try to throttle it for their own gains.

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Osbourne went on to state how important virtual currencies, mobile payments and other digital financial technologies are to modern economies:

    “These alternative payment systems are popular because they are quick, cheap, and convenient – and I want to see whether we can make more use of them for the benefit of the UK economy and British consumers.”

AKA I want to see how best we can steal our cut from this.


Exactly. Anything our governments do in regards to bit coin is either to tax it or to control us. That is the natural state of things.

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August 10, 2014, 04:56:13 PM
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I found it funny that they used the word 'stateless' when a satoshi, as a code container, is anything but.
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August 10, 2014, 05:03:55 PM
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I wonder what he's going to spend his bitcoin on, or is he going to hodl it? lol

I found it funny that they used the word 'stateless' when a satoshi, as a code container, is anything but.

I don't get it. What do you mean?
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August 11, 2014, 05:40:34 PM
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It may not embrace it too and instead try to throttle it for their own gains.

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Osbourne went on to state how important virtual currencies, mobile payments and other digital financial technologies are to modern economies:

    “These alternative payment systems are popular because they are quick, cheap, and convenient – and I want to see whether we can make more use of them for the benefit of the UK economy and British consumers.”

AKA I want to see how best we can steal our cut from this.


Exactly. Anything our governments do in regards to bit coin is either to tax it or to control us. That is the natural state of things.

Other governments would like to finish (read ban) bitcoin. So to that extent, regulation is not bad.
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