
Bitcoin not money, judge rules in victory for backers - dnetesn
http://phys.org/news/2016-08-bitcoin-money-victory-backers.html
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sctb
Previously:
[https://news.ycombinator.com/item?id=12164694](https://news.ycombinator.com/item?id=12164694)

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lowglow
I thought a while back they had decided to treat bitcoin like an asset? IIRC:
[http://www.marketplace.org/2014/03/25/economy/irs-labels-
bit...](http://www.marketplace.org/2014/03/25/economy/irs-labels-bitcoin-
asset)

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wyldfire
"they" is not uniform. You're referring to a portion of the US executive
branch, this is a state judicial entity. The ruling is in the context of this
specific criminal case.

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bitwize
But that means whenever you buy or sell it, the government can tax the shit
out of it.

The government always comes for its vig.

~~~
miend
They can try. Seems more and more like they're moving too slowly to keep up,
though.

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youngButEager
The Feds are probably furious. Replacing the U.S. currency is seen as a
threat; any and all alternative types of 'medium of exchange' have been
ruthlessly attacked/shut down by the Feds. They could step in and appeal this
judge's ruling in the Federal courts to either overrule this Florida judge, or
to extremely limit the application of her ruling.

The Feds one year ago sought to take down coin.mx and they will not likely
want this Florida judge's ruling to confuse the legality of transferring
bitcoin between parties.

[https://www.fbi.gov/contact-us/field-
offices/newyork/news/pr...](https://www.fbi.gov/contact-us/field-
offices/newyork/news/press-releases/manhattan-u.s.-attorney-announces-charges-
against-two-florida-men-for-operating-an-underground-bitcoin-exchange)

~~~
hackcasual
Why would they worry? You still need to pay your taxes in USD, and that's not
likely to change. Coin.mx didn't report suspicious activity, not because they
were at risk of replacing USD

