Quote:
Originally Posted by Barry-xlovecam
Won't work without an account tracking back end to cash out.
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Please elaborate. There are already piles of exchangers that are more than willing to give you USD/CAD/GBP/EUR for the Bitcoins you collect with your websites (or mine).
Quote:
Originally Posted by Barry-xlovecam
For barter it might work. |
All trade is essentially barter. We just use USDs as an intermediary.
Quote:
Originally Posted by Barry-xlovecam
This is based (taken from) a very old idea. See: Scrip
Problem is unless you are a sovereign nation you can't issues a new currency.
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It's not really like scrip, because Bitcoin has a forex market (floating conversion rate) and it isn't isolated to one geographical area like traditional scrip was/is.
Quote:
Originally Posted by Barry-xlovecam
I don't think the legal theory of these BitCoins being property not a form of currency will prevail ...
Too big of a threat to the governmental reserve bank system.
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In terms of legalities the biggest problem I've identified is that all Bitcoin debts will be without the force of law. This means if someone owes you Bitcoins and they refuse to pay them, you can't sue. (The ability to sue would imply that your government recognizes Bitcoin as legal tender. This will never happen.)
This isn't really a problem in my eyes for the sale of online goods, because Bitcoins can't be charged back anyway.