On 25/08/14 01:27, Tom Worthington wrote: > On 21/08/14 23:57, Frank O'Connor wrote: > []
>> And no government in their right mind is going to accord them the >> status of a legal 'currency'. That power they will always prefer to >> keep to themselves. ... > > Governments are not the only ones issuing currency. Private banks issue > their own banknotes in Scotland and Northern Ireland: > http://en.wikipedia.org/wiki/Banknotes_of_the_pound_sterling#Scotland_and_Northern_Ireland Private banks have long played an important role in the issue of private currency. However, when there's a run on them the whole system falls down. Government reserved to itself the power to issue "currency" partly to protect investors against failing banks. I find the categorisation of Bitcoin as an asset a little odd. Barter systems typically rely on things of inherent use value. I'd be intrigued to know where they locate it - ie a number - for tax purposes. _______________________________________________ Link mailing list [email protected] http://mailman.anu.edu.au/mailman/listinfo/link
