10 Aug '13, 5am

WealthCycles: Can Bitcoin Deemed ‘Real Money’ Offer Alternative to Fiat Currency?

Be prepared for the next great transfer of wealth. Buy physical silver and storable food . A federal judge ruled this week that Bitcoins, a “digital crypto currency” that has been touted as a potential free market alternative to traditional, government-controlled currencies, is legally money. The ruling came up in a U.S. Securities and Exchange Commission lawsuit against Texan Trendan Shavers, who is charged with committing fraud in a Bitcoin Ponzi scheme worth millions of dollars, according to an NBC News report . Shavers attempted to counter the SEC charges by claiming that Bitcoins are not money, therefore shares of his company, Bitcoin Savings & Trust (BTCST), are not securities, and therefore the SEC has no jurisdiction. The U.S. District judge put the kibosh on Shavers’ argument, stating: Description: Bitcoin Deemed ‘Real Money’ By Federal Court Diminishing Value as ...

Full article: http://silveristhenew.com/2013/08/09/can-bitcoin-deemed-r...

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