Re:Bitcoin app rejected by Apple
by weavejester on Sunday May 08, 2011 @06:48AM
(#2525669)
How do those apply to bitcoin?
E-Gold was a private organization that allowed people to open anonymous accounts backed by gold. I can see how this could be construed as a bank.
Bitcoins are not backed by anything, and are not managed or owned by any organization. I don't think you could classify the Bitcoin network as a "bank", any more than you could classify any random crowd of people as a bank.
E-Gold was a private organization that allowed people to open anonymous accounts backed by gold. I can see how this could be construed as a bank.
Bitcoins are not backed by anything, and are not managed or owned by any organization. I don't think you could classify the Bitcoin network as a "bank", any more than you could classify any random crowd of people as a bank.