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The appeal of bitcoin in this respect is that it disrupts the idea of money "being" in a certain place and thus having to "move" across borders. As a worldwide
by badbaguette 12y ago
The appeal of bitcoin in this respect is that it disrupts the idea of money "being" in a certain place and thus having to "move" across borders. As a worldwide distributed ledger, it's unclear that sending someone bitcoins amounts to a value transfer across borders.
I don't see this as a loophole so much as radical redefinition of what a store of value means. It's clear that whatever future regulations look like, they can't mirror the status quo.
- kaonashi 12y agoNot really a ledger, bitcoin is only an asset, never a liability.
- badbaguette 12y agoPoint taken, but I think that a long list of all accounts and their balances is essentially a ledger even if those balances are constrained to be positive. A ledger is almost certainly a better model for thinking about the blockchain than, say, a bunch of people with cash under their mattress.
- tim333 12y agoYou could argue MtGox have a liability of quite a few bitcoins.