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Bitcoins make far more sense than federal reserve notes or AU$Originally Posted by Glass
Bitcoins make far more sense than federal reserve notes or AU$
madfranks (27th May 2016)
Bitcoin up over 4% today, trading around $475 each. I wonder what prompted this rally?
"Liberty is so creative, and the government is so stupid, that I’m very optimistic about the future"
- Lew Rockwell
Glass decided to convert his fiat script into bitcoins?
Now Bitcoin is up licking at $550!
Bitcoin above $740 as of this post. Now there's no doubt in my mind that this is the market pricing in the halving (which is due in a few weeks).
Once the block reward halves, there was really two possible outcomes. One, the price stays the same and due to lost profitability the network hashrate falls to around 50% of what it was before, or hashrate stays the same and price doubles to make up for lost profitability. I had wondered for a while what it would be. I suspected we would see a price rise, and I'm glad I bought in once more before it shot up over $500. The halving should cement the new "standard" BTC price between $800 and $1k or so.
"Liberty is so creative, and the government is so stupid, that I’m very optimistic about the future"
- Lew Rockwell
prices should go up again after Judge rules Bitcoin is not money in Money laundering case
ZeroHedgeJudge Rules Bitcoin Isn't Money Because It "Can't be Hidden Under A Mattress"
In a landmark decision, a Florida judge dismissed charges of money laundering against a Bitcoin seller on Monday following expert testimony showing state law did not apply to the cryptocurrency.
Michell Espinoza was charged with three felony charges related to money laundering in 2014, but what appears to have helped to clear him of any and all wrongdoing was testimony given just a few weeks ago by an economics professor.
Evans was given $3,000 in Bitcoin by defense attorneys for sharing his expertise, the newspaper reported.“This is the most fascinating thing I’ve heard in this courtroom in a long time,” Miami-Dade Circuit Judge Teresa Mary Pooler said after hearing Barry University professor Charles Evans present evidence during a May hearing that Bitcoin was more akin to“poker chips that people are willing to buy from you,” according to theMiami Herald.
Judge Pooler found the cryptocurrency, which is based on verified encrypted transactions that are recorded on a public ledger, did not constitute “tangible wealth” and“cannot be hidden under a mattress like cash and gold bars,” reported the Herald.
Pooler added that Bitcoin was not codified by government, nor backed by any bank.
“The court is not an expert in economics, however, it is very clear, even to someone with limited knowledge in the area, the Bitcoin has a long way to go before it the equivalent of money,” Pooler wrote in her decision.
“This court is unwilling to punish a man for selling his property to another, when his actions fall under a statute that is so vaguely written that even legal professionals have difficulty finding a singular meaning,” she added.
Espinoza, 33, was charged after undercover detectives bought $1,500 worth of Bitcoin from him, claiming they would use the currency to purchase stolen credit card numbers. However, Judge Pooler found the Florida law prosecutors based their case upon to be too “vague.”
Another man, Pascal Reid, was arrested in tandem with Espinoza. Reid took an early plea deal, pleading guilty to acting as an unlicensed money broker. The deal required him to serve a probation sentence and educate law enforcement on the workings of Bitcoin.
While Monday’s ruling comes as a relief to Espinoza, it remains to be seen what comes next in Bitcoin regulation. States continue to grapple with the issue, and at the federal level, regulation has stalled. But Bitcoin enthusiasts have recently been more optimistic about a price surge, so the powers that be may move quickly if the virtual currency’s popularity resurges.
Great minds discuss Ideas, Average minds discuss Events, Small minds discuss People. E.R.
Anytime I'm in doubt I go outside and give it a little shake.
Liberty Tree.
“Democracy is also a form of worship. It is the worship of Jackals by Jackasses. It is the theory that the common people know what they want, and deserve to get it good and hard.”
H.L. Mencken
"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary."
H. L. Mencken
I think the judge saw the possibility of being legally bribed if Bitcoin isn't money...
I think they're looking for the handful of "bitcoin millionaires" who probably unloaded millions of $ worth of bitcoins but haven't paid any taxes on the gains.
"Liberty is so creative, and the government is so stupid, that I’m very optimistic about the future"
- Lew Rockwell
Bitcoin price knocking on $800.
Andreas has a good vid:
Andreas Antonopoulos - Currency Wars and Bitcoin's Neutrality
https://www.youtube.com/watch?v=6ZCV...outu.be&t=1756
"We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power." – Alan Greenspan
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