Re:Germany Sets Standard for Bitcoin Regulation
by joe_the_user on Monday August 19, 2013 @03:03PM
(#6238984)
When you want to establish a business that trades between bitcoins and typical fiat, you are going to be regulated.
Yes, that is what the state does.
As an individual trading and accepting bitcoins for goods with other individuals, you would be out of the scope of regulation, and because of the nature of bitcoins, you could make it scale to business like levels.
Yeah but your chances of running such a business and, say, not collecting the sales taxes for your area just went down a few notches. Bitcoin transactions are public, more public than, say, paper currency transactions.
And to answer the gp's original question, this does contradict the original intention of bitcoins. Failed or succesful, bitcoins are losing the specialness that was their original pull. Well, suck on it. The original intention was a la, la land phantasy, a fundamentally impossible Libertarian Party wet-dream.
Bitcoinist never figured out whether their cry was "they can't stop us", "they won't (try to) stop us" or "they shouldn't stop us". The result - the state clearly can stop bitcoin but so prefers to just control it.
I had imagined the whole thing would just collapse but I suppose it may just wind-up a fully regulated cash transfer system. But money still depends on the state.
Yes, that is what the state does.
As an individual trading and accepting bitcoins for goods with other individuals, you would be out of the scope of regulation, and because of the nature of bitcoins, you could make it scale to business like levels.
Yeah but your chances of running such a business and, say, not collecting the sales taxes for your area just went down a few notches. Bitcoin transactions are public, more public than, say, paper currency transactions.
And to answer the gp's original question, this does contradict the original intention of bitcoins. Failed or succesful, bitcoins are losing the specialness that was their original pull. Well, suck on it. The original intention was a la, la land phantasy, a fundamentally impossible Libertarian Party wet-dream.
Bitcoinist never figured out whether their cry was "they can't stop us", "they won't (try to) stop us" or "they shouldn't stop us". The result - the state clearly can stop bitcoin but so prefers to just control it.
I had imagined the whole thing would just collapse but I suppose it may just wind-up a fully regulated cash transfer system. But money still depends on the state.