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Author Topic: How is this legal?  (Read 1289 times)
Mike Jones
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July 30, 2012, 03:56:07 AM
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Don't most countries have strict laws regarding securities? Just how well are you guys doing?

Don't you worry about Bitcoin, let me worry about Bitcoin.

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Mike Caldwell
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July 30, 2012, 04:06:54 AM
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Bitcoins are more like commodities than securities.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper or hardware wallets instead.
Mike Jones
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July 30, 2012, 04:13:02 AM
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Bitcoins are more like commodities than securities.
This made no sense to me at first. Now I see how Bitcoin's legal status means everything.

Don't you worry about Bitcoin, let me worry about Bitcoin.

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July 30, 2012, 04:31:46 AM
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Also there are no laws in the bitcoin exchanges, it is more of rules that the exchanges setup. It is great cause it is like if the SEC was a private sector and could foster better and strong rules.

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July 30, 2012, 06:05:24 AM
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Don't most countries have strict laws regarding securities? Just how well are you guys doing?

Bitcoin doesnt belong under one countries jurisdiction.

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August 01, 2012, 08:24:01 PM
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Bitcoin doesn't have to worry.  I'd be more worried about the companies on GLBSE.

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