Quote:
Originally Posted by mineistaken
I see it the other way - if countries on highest level recognizes this play money its a good thing. Playcoin needs to be spoken of and recognized because its known to less than 1Į of population. So this is only a good thing for play money. It won't be currency for ilegal stuff anymore, it will evolve as legal thing, such as paypal and so on. If its recognized by such countries it gives value to the coin and it gives perspective to the people - that its no longer just some fake play money, its a bit more. Legitimacy.
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The point is to regulate and tax it... therefore, they will also have to make sure Bitcoins follow all monetary laws applicable in Germany, German entities and citizens, banking rules and regulations and adhere to respective international laws and treaties. At the end of the day, a currency cannot be anonymous and follow all banking/monetary laws, be taxed etc. Therefore, the entire of point of Bitcoin and reason for its support is soon negated as it might become another currency thats accepted as such, it will never be what it was intended to be and will ultimately be regulated and controlled.