You are viewing a single comment's thread.

view the rest of the comments →

1
0

[–] SurfinMindWaves 1 point 0 points (+1|-1) ago 

Can you BRIEFLY explain how it is legal to just make up currency? Every time I tried to read on it I ended up TLDR.

0
1

[–] BigVern 0 points 1 point (+1|-0) ago 

All currencies are made up their value lies in peoples' belief in them. People believe in bitcoin because of the technology behind it.

0
0

[–] SurfinMindWaves ago 

That doesn't tell me why it is legal. I understand fiat currency, but the government stops people from printing their own.

0
0

[–] toobaditworks [S] ago 

In the United States the Treasury classifies bitcoin as a “virtual currency.” The Commodity Futures Trading Commission (CFTC) classifies bitcoin as a commodity, and the Internal Revenue Service classifies bitcoin as property.

I don't know how old this article here is but it shows how different countries deal with it.