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I disagree with you, I think that it means that a chinese Coinbase can't also be a bank, and since they just ruled that bitcoin is not a currency, it will be so
by pacofvf 13y ago
I disagree with you, I think that it means that a chinese Coinbase can't also be a bank, and since they just ruled that bitcoin is not a currency, it will be sold and bought freely as a commodity in this case a virtual commodity
- alttab 13y agoTrading physical goods for virtual commodities? No thank you. The pudding of bitcoin was the promise of a new currency.
- pitnips 13y agoSince it's decentralized, it doesn't need banks to prosper. That's the beauty of bitcoin. It can function as a currency while still being seen as a commodity in the eyes of the law.
- fragsworth 13y agoYes - it doesn't need banks. I think there is lots of confusion as to how this system works. As long as it's legal to own and exchange bitcoins, everyone can be their own financial institution.
- alttab 13y agoI think I cant understand what a world run on bitcoin would look like without a global war.