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

Controversy of Bankhood

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...

Tweets

@MADinMelbourne » 12 Dec '12, 7am
#bitcoin should integrate with everything, everywhere, that should be the goal -when accomplished bitcoin will have won [link]
@MADinMelbourne » 12 Dec '12, 7am
"#bitcoin brings the objective honesty of math and the moral philosophy of private property everywhere it travels" [link]
@MADinMelbourne » 12 Dec '12, 7am
mixed reviews on Paymium and #Bitcoin.. the beauty of opensource virtual currency is that there are many options [link]
@FintechBot » 11 Dec '12, 10pm
RT @MarcHochstein: "Don’t confuse one who follows regulations to be 'pro-regulation.'" writes @ErikVoorhees [link] #Bitcoin #DontWantToGoToJail
@MarcHochstein » 11 Dec '12, 10pm
"Don’t confuse one who follows regulations to be 'pro-regulation.'" writes @ErikVoorhees [link] #Bitcoin #DontWantToGoToJail
@Free_Caledonia » 10 Dec '12, 7pm
RT @ErikVoorhees: Our response to the Paymium bank/bitcoin controversy and Matonis' Forbes piece [link] #banking #law #Machiavelli #liberty
@BitCoinReporter » 10 Dec '12, 6pm
The Controversy of Bankhood [link] #bitcoin
@HostFat » 10 Dec '12, 5pm
Ecco un ottimo parere riguardo alla vicenda di #Bitcoin Central [link]
@ggrandval » 10 Dec '12, 5pm
RT @Bitcoin_Central: BitInstant's blog post about Bitcoin-Central integrating legally with banks #bitcoin #kilébon [link]
@Bitcoin_Central » 10 Dec '12, 5pm
BitInstant's blog post about Bitcoin-Central integrating legally with banks #bitcoin #kilébon [link]
@ErikVoorhees » 10 Dec '12, 5pm
Our response to the Paymium bank/bitcoin controversy and Matonis' Forbes piece [link] #banking #law #Machiavelli #liberty
@m0mchil » 10 Dec '12, 8pm
RT @ErikVoorhees: Our response to the Paymium bank/bitcoin controversy and Matonis' Forbes piece [link] #banking #law #Machiavelli #liberty
@paymium » 10 Dec '12, 5pm
RT @Bitcoin_Central: BitInstant's blog post about Bitcoin-Central integrating legally with banks #bitcoin #kilébon [link]