Bitcoin enters the big time

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  • JJ Feinauer Salt Lake CIty , UT
    Aug. 8, 2013 3:34 p.m.

    @I know it. I live it. I love it: The Texas case ruled that Bitcoin was subject to regulations and therefore legitimized as a form of currency. Because of this investors will be less concerned that if they get ripped off there will be no legal ramifications. This case has set a precedent for how future cases concerning Bitcoin can be handled. Or, at least that's the interpretation of the writers I cited.

  • OlderGreg USA, CA
    Aug. 7, 2013 11:28 p.m.

    Bitcoin? "Trust me"

    US Federal Reserve Note? "Trust me"

  • I know it. I Live it. I Love it. Salt Lake City, UT
    Aug. 7, 2013 6:04 p.m.

    So when did Texas state Judges start ruling for the entire Country?

    I'm not even saying I like this currency system. Honestly I'm not sure yet... but a single court case isn't nearly as significant as this article suggests (no offense to JJ Feinauer).

    New either means 1) Someone is tired of the old and genuinely has a good idea or 2) Someone is trying to take advantage of others. Even in scenario 1, someone else may see it as an opportunity to take advantage. Does any of that make Bitcoin bad? Not really. Does it mean there is potential risk? Absolutely.

    I don't really feel "secure" with what the government does either, but the system must be tested to really know anything about it. A neat video, logo, and open-source promise aren't enough to prove this. Test it and prove it. For something as consequential as currency, that is the requirement I and many others will require of it.