[2014-08-29] Bitcoin Could Be Considered Legal Tender

101111 (OP)

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[2014-08-29] Bitcoin Could Be Considered Legal Tender - Aust. Tax Commissioner

August 29, 2014, 07:54:32 AM

#1

http://www.theguardian.com/technology/2014/aug/29/bitcoin-could-be-considered-legal-tender-australian-tax-official-says

Jesu

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Re: [2014-08-29] Bitcoin Could Be Considered Legal Tender - Aust. Tax Commissioner

August 29, 2014, 09:53:07 AM

#2

"Could" is pretty vague. Of course it could be considered legal tender but whether it will or not is a different matter. I also wonder whether actually defining it as legal tender will be good or bad for bitcoin.

101111 (OP)

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Re: [2014-08-29] Bitcoin Could Be Considered Legal Tender - Aust. Tax Commissioner

August 29, 2014, 10:32:03 AM

#3

He's basically acknowledging that the current working definition of 'legal tender' is outdated and if crypto catches on a re-definition is on the cards.

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Re: [2014-08-29] Bitcoin Could Be Considered Legal Tender - Aust. Tax Commissioner

August 29, 2014, 11:01:09 AM

#4

Quote from: 101111 on August 29, 2014, 10:32:03 AM

He's basically acknowledging that the current working definition of 'legal tender' is outdated and if crypto catches on a re-definition is on the cards.

I think bitcoin has already redefined what 'money' is, but it'd be nice to see those in power acknowledge it too. It being classified as legal tender would definitely help adoption and make it seem more legit to the general public.