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Author Topic: How is this legal?  (Read 1384 times)
Mike Jones (OP)
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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?
"This isn't the kind of software where we can leave so many unresolved bugs that we need a tracker for them." -- Satoshi
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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 (OP)
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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.
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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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