30 Aug '12, 7pm

Why Bitcoin lives in a "legal gray area" [Tim. B. Lee]

“If you’re going to be a money transmitter, you have to turn over information to Treasury or to State to prevent fraud and abuse,” he said. The problem is that miners don’t have any of the information, such as names and Social Security numbers, that the authorities want. The only information miners have is the pseudonymous Bitcoin addresses associated with each transaction—and that information is already available to the general public. The “blockchain,” the shared record of all completed Bitcoin transactions, is available for anyone to download and inspect, so it would be pointless to force miners to disclose information that the government can get directly from the Bitcoin network.

Full article: http://blog.mktgeist.com/2012/08/30/why-bitcoin-lives-in-...

Tweets

Why Bitcoin Lives in a "Legal Gray Area": As Bi...

hardocp.com 26 Aug '12, 5pm

Why Bitcoin Lives in a "Legal Gray Area" As Bitcoins make a slow recovery and beginning to grow a constituency, the ‘crypt...

Why Bitcoin lives in a "legal gray area"

arstechnica.com 24 Aug '12, 3pm

When news of Silk Road , the secretive online marketplace that allows drugs to be purchased with bitcoins , broke last yea...

Fiat Money - Circa 2012: #Bitcoin

Fiat Money - Circa 2012: #Bitcoin

bitcoinmoney.com 03 Sep '12, 6am

This map of currencies around the world , shared through a Reddit post , features the fiat currency used by each nation. I...

What is a Bitcoin? Drug Dealers Taking Advantag...

blogs.findlaw.com 04 Sep '12, 1pm

When news of a secret online drug marketplace broke last year, many people were left wondering: What is a Bitcoin? At the ...