Didn't see this posted prior and caught my eye this morning..
-------
In a case closely watched in financial and tech circles, the judge threw out the felony charges against website designer Michell Espinoza, who had been charged with illegally transmitting and laundering $1,500 worth of Bitcoins. He sold them to undercover detectives who told him they wanted to use the money to buy stolen credit-card numbers.
But Miami-Dade Circuit Judge Teresa Mary Pooler ruled that Bitcoin was not backed by any government or bank, and was not “tangible wealth” and “cannot be hidden under a mattress like cash and gold bars.”
------
I have yet to venture into the Bitcoin world, but it pops into my mind everytime I'm ready for a withdrawal. I just haven't taken the time to fully learn and need to sort through the 40 page Bitcoin thread in here. Reading the headline this morning, I thought, "whew, glad I haven't ventured into that." But reading the article, a otherwise illegal activity was ruled...not legal, but not worth the time of her court because not considered currency, which seems to add to the unsurety of Bitcoin, but also seems to add value for people into questionable activities.
Has this always been the allure of the Bitcoin, and I just didn't get it? I always thought it was supposed to be treated like an investment, or other holding and that was the draw, hoping the value increases and it becomes "legitimate". Does this scare you off or make you more likely to try it finally/hold on to it?
-------
In a case closely watched in financial and tech circles, the judge threw out the felony charges against website designer Michell Espinoza, who had been charged with illegally transmitting and laundering $1,500 worth of Bitcoins. He sold them to undercover detectives who told him they wanted to use the money to buy stolen credit-card numbers.
But Miami-Dade Circuit Judge Teresa Mary Pooler ruled that Bitcoin was not backed by any government or bank, and was not “tangible wealth” and “cannot be hidden under a mattress like cash and gold bars.”
------
I have yet to venture into the Bitcoin world, but it pops into my mind everytime I'm ready for a withdrawal. I just haven't taken the time to fully learn and need to sort through the 40 page Bitcoin thread in here. Reading the headline this morning, I thought, "whew, glad I haven't ventured into that." But reading the article, a otherwise illegal activity was ruled...not legal, but not worth the time of her court because not considered currency, which seems to add to the unsurety of Bitcoin, but also seems to add value for people into questionable activities.
Has this always been the allure of the Bitcoin, and I just didn't get it? I always thought it was supposed to be treated like an investment, or other holding and that was the draw, hoping the value increases and it becomes "legitimate". Does this scare you off or make you more likely to try it finally/hold on to it?
