19 May '14, 7pm

Federal Reserve: RECORD OF MEETING Federal Advisory Council and Board of Governors

Re: RECORD OF MEETING Federal Advisory Council and Board of Governors May 19, 2014, 11:32:14 PM #4 Quote from: windpath on May 19, 2014, 06:49:21 PM In an economy hypothetically dominated by Bitcoin, its finite number (21 million) would prevent the application of traditional monetary policy tools to provide support in a downturn or reduce growth during excessive expansion. I could say something intended to be funny like "and thank god for that!" Really though I just want to point out that this is just yet another group of people on the fringe of understanding Bitcoin. Quote from: windpath on May 19, 2014, 06:49:21 PM Recent guidance from regulators indicates growing awareness of the need for oversight: The Internal Revenue Service has characterized Bitcoin as property rather than currency for tax purposes, effectively making each transaction a taxable event and increasing ...

Full article: https://bitcointalk.org/index.php?topic=616333.0

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