Bitcoin is not money

Computerworld. IDG. Archived from the original on 6 September 2016.Gold is generally not circulated as money but held for overall investment value, and it has value as a useful metal in industrial capacities.JPMorgan Chase CEO Jamie Dimon did not mince words when asked about the popularity of virtual currency bitcoin.Gold is a great investment, past, present, and in the future.The July 22 ruling by Miami-Dade Circuit Judge Teresa Pooler means that no specific license is needed to buy and sell bitcoins.A court in Miami, Florida threw out criminal charges against a man being tried for illegally selling Bitcoin, stating the virtual currency cannot be classified as money.When governments undermine faith in their currencies people turn to alternatives.

Do you need more money, or are you happy with the state of your currency.

News last week was that a Florida judge had ruled that Bitcoin was not money.One of the first supporters, adopters, contributor to bitcoin and receiver of the first bitcoin transaction was programmer Hal Finney.They also feel there is a growing need for cryptocurrency ICO transparency.According to research produced by Cambridge University there were between 2.9 million and 5.8 million unique users using a cryptocurrency wallet, as of 2017, most of them using bitcoin.

Money laundering is a serious crime, and the important...Bitcoin is not a currency any more than gold bars or collectable baseball cards are.The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them.Bitcoin, or gold, in contrast, can be considered money in its truest definition.The bitcoin protocol specifies that the reward for adding a block will be halved every 210,000 blocks (approximately every four years).A Florida Judge ruled that Bitcoin is not currency in a case of money laundering.Unlike traditional currencies such as dollars, bitcoins are issued and.

Knowing the difference between currency and money is important to your future, as the global economy becomes more and more unstable under a mountain of fiat-induced debt.While some countries have explicitly allowed its use and trade, others have banned or restricted it.As national fiat currencies slowly, but surely, fall by the wayside, or get outright replaced by digital currencies, its time to review the advantages of using Bitcoin as money going forward.Many have deep questions about how long Bitcoin will be around, as well as the U.S. Dollar. You may not want to invest, long-term, in currencies as much as you should in money.Bitcoin is not money but property and therefore the crimes of unlawful transfer of money and money laundering did not arise.

In its case against defendant Michel Espinoza, a Miami court has ruled that bitcoin is not real money.

Bitcoin Is Not Real Money | RealClearPolitics

Money pre-dates government-created currency throughout the history of man, and their central banking system.Since its emergence in 2009, the cryptocurrency has brought.

Bitcoin is NOT Money !! | LinkedIn

Wallets and similar software technically handle all bitcoins as equivalent, establishing the basic level of fungibility.

The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order (1 ed.). New York: St.Bitcoin does not actually qualify as money, a Miami-Dade judge ruled Monday in throwing out criminal charges against a Miami Beach man charged with illegally selling.

Bitcoins: The Second Biggest Ponzi Scheme in History

The federal government will tax digital money such as Bitcoin like property, not currency, the IRS said Tuesday in its first significant guidance on the.

Just recently there was a ransomware epidemic called Peyta that attacked various computers around the world.

Plus, you have the government on the hook for cost-of-living increases in many entitlement programs.Why Bitcoin Qualifies as Money while the Dollar is just Currency.A Miami judge just ruled that Bitcoin is not money, and its sale unintentionally for illegal purposes does not constitute money laundering.Its current value is well ahead of its value in October of 2013.Fees are based on the storage size of the transaction generated, which in turn is dependent on the number of inputs used to create the transaction.

If bitcoin is not money, then what exactly is it? : Bitcoin

Bitcoin was prematurely defined as money, and as the platform has grown, the folly of that definition is becoming increasingly clear.Merchants accepting bitcoin ordinarily use the services of bitcoin payment service providers such as BitPay or Coinbase.The IMF released its first report on Virtual currencies and Bitcoin today, stating that it does not reach the legal definition of money or currency.

Bitcoin is Not Real Money - The Ferragut Law Firm

Florida judge: Bitcoins aren’t currency, so state money

For a broader coverage related to this topic, see Blockchain.

Legal Solutions Blog Bitcoin is not money, Miami judge rules

Bitcoin Is Not Money (Part 1) – Snow_Ventures – Medium

Ironically, that could provide a boost to use of the crypto-currency which has remained in the shadows of.