Founders Fund Makes Bet on Bitcoin

Re:Founders Fund Makes Bet on Bitcoin by mudil on Tuesday January 02, 2018 @02:14PM (#16054503)

CFTC and SEC classify bitcoin and other cryptocurrencies as commodities. In that case high transaction fees are appropriate. It's like handling oil or pork bellies. No joke!

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Re:Founders Fund Makes Bet on Bitcoin by matt4077 on Tuesday January 02, 2018 @02:24PM (#16054604)

I can buy pork on amazon, or in any store. Transaction costs: maybe $2.50 for shipping. The SEC's categorisation is among the most insane arguments I've heard. If you seriously believe it (which I doubt) you're engaging in some mind-bending motivated reasoning.

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Re:Founders Fund Makes Bet on Bitcoin by mudil on Tuesday January 02, 2018 @03:25PM (#16055262)

I actually agree with SEC. I think about bitcoin as a commodity. It's like gold, a commodity. And like gold, its storage and transfers cost money.

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