Legal Standing of BitCoins

wino_bitcoing

GOT ANY SPARE (BIT) COINS

By now, if you’re still one of those folks asking, “what the hell is a Bitcoin?” Don’t worry, you’re not alone. Introduced in 2008 by a group of programmers under the name Satoshi Nakamoto, Bitcoin is defined as peer-to-peer technology that operates outside of central authority or banks. Bitcoins, which exists solely in software, uses cryptography to control transactions and prevent the re-use of spent currency. When a payment has been validated, it becomes public record once recorded in a public ledger known as the blockchain. Payments are then processed by a network of private servers owned and operated by “miners” who benefit from transaction fees and newly minted Bitcoins. Currently, there are roughly 12 million Bitcoins in circulation trading at about $965 each as of today.

In early 2012, when Bitcoins popularity began to catch the eye of mainstream financial insiders such as The Economist, it was initially charecterised as currency for online black market traders like the infamous Silk Road.  Internet black markets, such as Silk Road were described as havens for all things illegal including; drugs, guns, pirated software, and pornography due to the untraceable nature of Bitcoins. However, that was so 1-year ago, and a lot has changed since the relatively unknown currency emerged on the scene. As of today, Bitcoins are increasingly being used as payments for legally legitimate services and products. Both online and brick & mortar merchants have begun accepting the digital currency due to its attractive low transaction fees. Typically, a credit card processing company charges up to 3% per transaction whereas Bitcoin transactions can be below 1%.

bitcoin-accepted-here-subway

Laws Governing theUuse of Bitcoins

In a recent federal case surrounding a Bitcoin Ponzi scheme, SEC prosecutors contended that Bitcoins were considered “security,” defined as; “any note, stock, treasury stock, security future, security-based swap, bond…[or]investment contract” according to U.S statute 15 U.S.C. § 77b. Federal Judge Amos L. Mazzant agreed, ruling that it was clear that Bitcoins can be used as currency and the “only limitation of Bitcoin is that it is limited to those places that accept it as currency.”

Currently, like many other forms of technology, there is no specific law governing its use. Initially, deemed “experimental currency” in a high-risk environment, U.S. government officials sought clarification of its legal use. After extensive testimony before the U.S Senate’s Homeland Security and Governmental Affairs Committee, the U.S. Justice Department described Bitcoin currency as a “legal means of exchange.”  Bloomberg Business reported that “government agencies from the U.S. Secret Service to the Financial Crimes Enforcement Network have weighed in to say that the virtual currency that’s designed to be difficult to trace has potential benefits, as well as risks.”

Treasury1

Future of Bitcoins

So what does that all mean?

Essentially, Bitcoins, as of now, are considered a legal form of currency capable of being exchanged in the U.S. and worldwide markets. So long as retailers, service providers, and online merchants who accept Bitcoins continues to grow, expect Bitcoins to remain legal. On average, there are currently about 30 Bitcoin transactions per minute, however that number is expected to grow exponentially, estimated a report published earlier this month. Bitcoin trading has increased nearly 500 times over the past year, and steadily increasing at rates predicted by industry economist. Moreover, since Bitcoins are created by miners operationg powerful servers capable of completing robust software algorithms embedded within the currency itself, expect Bitcoins volume to increase, both as miners and computing power increases.

How Can You Benefit from Bitcoins?

Bloomberg business news reports that savvy U.S investors have begun allocating more and more of their investments to Bitcoin currency in order to diversify their portfolios. Further, many Wall Street investment firms have begun offering investors options to buy Bitcoins for individual retirement accounts (IRA’s).  Bitcoin Investment trusts have also cropped up creating more than $15 million in funds. Simply put, if you’re interested in spreading your profits and losses out, Bitcoin investments may be a viable option.

Conclusion

While Bitcoins have been given the green light by U.S. treasury officials, it’s still a relatively new trading platform and should be approached with caution. Consequently, according to Bitstamp, in the time it took to compose this post, Bitcoins value increased by nearly a dollar!  However, Bitcoin trading volatility has been influx due to recent Senate inquires and the subsequent validation by U.S officials as an authentic currency. Therefore, once all the dust settles, and you get all the facts, maybe you’ll have a few (Bit)Coins to spare!

bitcoins2

682 thoughts on “Legal Standing of BitCoins

  1. Pingback: Maria Smith
  2. Sweet blog! I found it while surfing around on Yahoo News. Do you have any suggestions on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Thank you

  3. Hello there! I know this is kinda off topic however , I’d figured I’d ask. Would you be interested in trading links or maybe guest authoring a blog post or vice-versa? My blog discusses a lot of the same subjects as yours and I believe we could greatly benefit from each other. If you happen to be interested feel free to send me an e-mail. I look forward to hearing from you! Excellent blog by the way!

  4. Hey! This post couldn’t be written any better! Reading this post reminds me of my good old room mate! He always kept talking about this. I will forward this article to him. Pretty sure he will have a good read. Many thanks for sharing!

  5. Aw, this was a actually nice post. In notion I’d like to put in writing like this furthermore – taking time and actual effort to make a really very good article… but what can I say… I procrastinate alot and by no indicates seem to obtain some thing carried out.

  6. My spouse and I totally like your site and find almost all of your articles to be what precisely I’m seeking. Do you offer other people to write content for you? I would not mind producing a post about lucky patcher apk or perhaps on a number of the topics you’re posting about on this website. Again, awesome information site!

  7. Hey! This is my very first comment on your site so I simply wanted to say a fast hello and say I truly enjoy reading your blog posts. Can you suggest any other websites that deal with real estate management? I’m as well truly curious about that! Thanks!

  8. You are entirely right! I loved looking through this article and I will get back for more as quickly as possible. My own internet site is dealing with zapya apps free download, you can check it out if you are still interested in this.

  9. Our LGV (Large Goods Vehicle) HGV training is based in East London, and our LGV/ HGV courses are taught by qualified DVSA LGV & HGV trainers. LGV was formerly known as HGV, where it used to be referred to as HGV Class 2 (now called LGV Category C) and HGV class 1 (Now called LGV Category C+E).

  10. I came right here from some other website relating to pokemon go game app and considered I should look at this. I like the things I see therefore I am just following you. Getting excited about finding out about your site back again.

  11. Pingback: Google
  12. Pingback: Google
  13. Pingback: pets mega malls
  14. Pingback: penis toys
  15. Pingback: amber adam and eve
  16. Pingback: best male strokers
  17. Pingback: adam and eve vibes
  18. Pingback: pocket pal pussy
  19. Pingback: best cockring
  20. Pingback: adult sex games
  21. Pingback: how to use dildos
  22. Pingback: Fülöp Henrik
  23. Pingback: Cheapest holiday
  24. Pingback: glass toys
  25. Pingback: clit stimulation
  26. Pingback: sex toys for women
  27. Pingback: bust it dildo
  28. Pingback: dildo
  29. Pingback: squirting dildos
  30. Pingback: lube sex
  31. Pingback: hp drivers
  32. Pingback: hydroquinone
  33. Pingback: advertising
  34. Pingback: sex toy for men
  35. Pingback: organics
  36. Pingback: movers
  37. Pingback: bahis siteleri
  38. Pingback: kona coffee beans
  39. Pingback: miniclip
  40. Pingback: bahis siteleri
  41. Pingback: bahis siteleri
  42. Pingback: bahis siteleri
  43. Pingback: bahis siteleri
  44. Pingback: goldenbah's
  45. Pingback: Norfolk Jackets
  46. Pingback: sex bondage
  47. Pingback: clit vibator
  48. Pingback: Morgellons Cure
  49. Pingback: silicone vibrator
  50. Pingback: clash royale hack
  51. Pingback: naemi varna
  52. Pingback: sex toy box
  53. Pingback: Free php scriptp
  54. Pingback: Skädda
  55. Pingback: solgar
  56. Pingback: best dildo
  57. Pingback: word press degin
  58. Pingback: customer survey
  59. Pingback: illuminati join
  60. Pingback: Opiniones
  61. Pingback: jageze
  62. Pingback: matka result
  63. Pingback: Free SEO Submitter
  64. Pingback: cash
  65. Pingback: isis pakistan
  66. Pingback: Domino Online
  67. Pingback: Tatuaje Pecho
  68. Pingback: Computer Repairs
  69. Pingback: fredericario
  70. Pingback: Instagram unfollow
  71. Pingback: psychic
  72. Pingback: psychic
  73. Pingback: Computer City
  74. Pingback: Miami Escorts
  75. Pingback: gps tracker
  76. Pingback: a blessing
  77. Pingback: Cacti toronto
  78. Pingback: youtube downloader
  79. Pingback: mi guia ceneval
  80. Pingback: golf shirts
  81. Pingback: prayer
  82. Pingback: brazilian hair
  83. Pingback: sex toy shopping
  84. Pingback: remy hair
  85. Pingback: Indian hair
  86. Pingback: malaysian hair
  87. Pingback: peruvian hair
  88. Pingback: Litecoin
  89. Pingback: Best Bullet Vibe
  90. Pingback: texty pesen
  91. Pingback: wuxiaworld
  92. Pingback: butterfly vibrator
  93. Pingback: beginner dildo
  94. Pingback: travel tips
  95. Pingback: prazdniki oktybr
  96. Pingback: trahat
  97. Pingback: pochinki tshirt
  98. Pingback: abcde
  99. Pingback: Atorvastatin
  100. Pingback: christian movies
  101. Pingback: Hydroquinone
  102. Pingback: sportotobet
  103. Pingback: Hydroquinone
  104. Pingback: how to build a pc
  105. Pingback: Poshmark login
  106. Pingback: خرید vpn
  107. Pingback: fan filter
  108. Pingback: فروش طلا
  109. Pingback: real
  110. Pingback: 12 inch dildo
  111. Pingback: hosting
  112. Pingback: برش لیزر
  113. Pingback: paroles de chanson
  114. Pingback: Americab.net
  115. Pingback: LOOSE DIAMONDS
  116. Pingback: News
  117. Pingback: hollow strap on
  118. Pingback: trah_net_621
  119. Pingback: best strap on toys
  120. Pingback: anal training kit
  121. Pingback: digital marketing
  122. Pingback: Fire Prick
  123. Pingback: giant dildo
  124. Pingback: best ben wa balls
  125. Pingback: toy haul
  126. Pingback: anal butt plug
  127. Pingback: superpump max
  128. Pingback: thrusting vibrator
  129. Pingback: Film izle
  130. Pingback: adult sex toys
  131. Pingback: part-time jobs
  132. Pingback: slovari dalya
  133. Pingback: silicone vibrator
  134. Pingback: XXX PORNO
  135. Pingback: xxx porno
  136. Pingback: XXX PORN
  137. Pingback: your gym workout
  138. Pingback: strap on dildo
  139. Pingback: pictures
  140. Pingback: vibrating panties
  141. Pingback: betting tips
  142. Pingback: rampant rabbit
  143. Pingback: 26 maya 4829
  144. Pingback: DraftKings NBA
  145. Pingback: rabbit vibrators
  146. Pingback: Tire Pressure
  147. Pingback: friv
  148. Pingback: Watches gadgets
  149. Pingback: Painters Brisbane
  150. Pingback: College Basketball
  151. Pingback: DraftKings NBA
  152. Pingback: how to
  153. Pingback: سكس
  154. Pingback: home inspections
  155. Pingback: Sex live show
  156. Pingback: prazdnik segodnya
  157. Pingback: lesbian anal
  158. Pingback: aflamsex
  159. Pingback: frases.top
  160. Pingback: rottweiler puppy
  161. Pingback: Xxx live sexy cams
  162. Pingback: Sex live
  163. Pingback: Toshiba treiber
  164. Pingback: Car lockout
  165. Pingback: Livesexgirls
  166. Pingback: flavored sex gel
  167. Pingback: Porno videos
  168. Pingback: Sexy shemale
  169. Pingback: Iphone deal
  170. Pingback: Hot babes
  171. Pingback: Cheap iphone case
  172. Pingback: Iphone cover
  173. Pingback: سكس
  174. Pingback: سكس مترجم
  175. Pingback: business marketing
  176. Pingback: sex finger
  177. Pingback: strapon dildo set
  178. Pingback: massager
  179. Pingback: best vibrators
  180. Pingback: butt plugs
  181. Pingback: Apple wholesale
  182. Pingback: سكس
  183. Pingback: سكس مترجم
  184. Pingback: Free MILF Porn
  185. Pingback: see thru panties
  186. Pingback: 2018 NFL Schedule
  187. Pingback: Dr Kassabian
  188. Pingback: ireland
  189. Pingback: criminal lawyer
  190. Pingback: BUY HERE PAY HERE
  191. Pingback: summer camp china
  192. Pingback: prazdnik noyabr
  193. Pingback: consulenze hacker
  194. Pingback: best vibrators
  195. Pingback: rabbit vibrator
  196. Pingback: mp3 songs
  197. Pingback: lesbian strap ons
  198. Pingback: aflampornhd
  199. Pingback: adult seo
  200. Pingback: djpunjab mp4
  201. Pingback: dog memento
  202. Pingback: see more
  203. Pingback: visit web page
  204. Pingback: taken from here
  205. Pingback: page
  206. Pingback: tongue vibrators
  207. Pingback: butterfly vibrator
  208. Pingback: find out more here
  209. Pingback: read further
  210. Pingback: how to masturbate
  211. Pingback: chicago house dj
  212. Pingback: sexy lingerie
  213. Pingback: Water damage
  214. Pingback: Butt Plug
  215. Pingback: خرید vpn
  216. Pingback: Double Dildo
  217. Pingback: Anal Beads
  218. Pingback: Pure Wand Massager
  219. Pingback: Wand Massager
  220. Pingback: nipple orgasm
  221. Pingback: kegel benefit
  222. Pingback: poker 88
  223. Pingback: screaming vibrator
  224. Pingback: light up vibrator
  225. Pingback: double sided dildo
  226. Pingback: real feel vibrator
  227. Pingback: Sex Toy Tutorial
  228. Pingback: MILF Porn
  229. Pingback: mp3juices
  230. Pingback: sasha grey 2 hole
  231. Pingback: tubidy
  232. Pingback: dildo review video
  233. Pingback: Bradley Derges
  234. Pingback: Simeon-Yahweh
  235. Pingback: g spot toy
  236. Pingback: best vibrator
  237. Pingback: istorii
  238. Pingback: thai netflix
  239. Pingback: iPhone 5 Cable
  240. Pingback: Startup
  241. Pingback: Iphone charger
  242. Pingback: پیچ و مهره
  243. Pingback: best blowjob
  244. Pingback: free app download
  245. Pingback: notehub.org
  246. Pingback: follow this post
  247. Pingback: click for details
  248. Pingback: notehub.org
  249. Pingback: مه پاش
  250. Pingback: notehub.org
  251. Pingback: taken from here
  252. Pingback: prazdnik zavtra
  253. Pingback: continue
  254. Pingback: boston bitcoin
  255. Pingback: new free games
  256. Pingback: Laptop sell
  257. Pingback: rabbit vibrator
  258. Pingback: oral sex vibrator
  259. Pingback: auto taxi
  260. Pingback: vibrator for women
  261. Pingback: pure kona coffees
  262. Pingback: علم غیب
  263. Pingback: interracial porn
  264. Pingback: Baby Playpen
  265. Pingback: Freemason Gifts
  266. Pingback: Search&Research
  267. Pingback: accomodator
  268. Pingback: Magic Wand
  269. Pingback: Penis Pump
  270. Pingback: otnosheniya
  271. Pingback: iPad wholesale
  272. Pingback: go to the page
  273. Pingback: notehub.org
  274. Pingback: Bondage Dominatrix
  275. Pingback: notehub.org
  276. Pingback: Huge Dildos
  277. Pingback: notehub.org
  278. Pingback: افلام سكس
  279. Pingback: Dildo Reviews
  280. Pingback: mp3 music download
  281. Pingback: notehub.org
  282. Pingback: برامج
  283. Pingback: notehub.org
  284. Pingback: cum with vibrator
  285. Pingback: strap on harness
  286. Pingback: xlxx
  287. Pingback: big dildo sex
  288. Pingback: Cheap Hosting
  289. Pingback: Nose Hump Removal
  290. Pingback: Davido Songs
  291. Pingback: bail bond
  292. Pingback: Kona coffee brands
  293. Pingback: سكس
  294. Pingback: junk car buyer
  295. Pingback: escape room athina
  296. Pingback: lion coffee beans
  297. Pingback: brighton
  298. Pingback: Abraaj
  299. Pingback: electric bike
  300. Pingback: Videography
  301. Pingback: hosting
  302. Pingback: padded sex swing
  303. Pingback: phenq ingredients
  304. Pingback: cheap hoverboard
  305. Pingback: culvert
  306. Pingback: Cyber Bullying
  307. Pingback: seo service
  308. Pingback: free phone cases
  309. Pingback: lawyer
  310. Pingback: car leasing
  311. Pingback: high performance
  312. Pingback: etf
  313. Pingback: Roof rack
  314. Pingback: hunting gifts
  315. Pingback: US Hulu Cards
  316. Pingback: Seller Coach
  317. Pingback: FS 19 mods
  318. Pingback: yoyomedia
  319. Pingback: how to insulate
  320. Pingback: Stack
  321. Pingback: digital music
  322. Pingback: best hotel offers
  323. Pingback: Dog adventurer

Leave a Reply