10 Dec '12, 5pm

Our response to the Paymium bank/bitcoin controversy and Matonis' Forbes piece #banking #law #Machiavelli #liberty

Our response to the Paymium bank/bitcoin controversy and Matonis' Forbes piece #banking #law #Machiavelli #liberty

Bitcoin is not in a legal grey area any more than Monopoly money is. The only grey area here is in the different perceptions people have of what people think Bitcoin is; is it money, or is it not money and all the rest of that. Bitcoin does not need to be licensed and approved. Licensing and approval will not protect people from being hacked and having their Bitcoin stolen. It will not stop Paymium from going bankrupt. Or maybe it will? Perhaps they think they will be bailed out like the big banks were, should they go belly up? The idea that the State can confer protection to a business is simply false, and if it were true, it would be at the expense of the taxpayer, which is unethical. Bitcoin has always been 'done' legally. If something is not illegal, it is legal. This is one of the fundamental principles of the legal system, in the same way that you are innocent until ...

Full article: http://blog.bitinstant.com/blog/2012/12/10/the-controvers...

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Bitcoin gets banking rights: Greater recognition of digital currency.

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itnews.com.au 09 Dec '12, 9pm

Greater recognition of digital currency. Paymium, the company that operates the Bitcoin-Central exchange, has been license...