Florida Judge Rules Bitcoin is Not Money

Written by:
Guest
Published on:
Jul/27/2016

In a landmark decision a Florida judge has ruled that the anonymous digital currency bitcoin is not money.

Ad: Start Betting Online at BetPhoenix Here and Claim Hundreds of Dollars in Free Cash, Live In-Play Betting  Available, Bitcoin Welcome

Circuit Court Judge Teresa Pooler has dismissed a money laundering case brought against a website developer, ruling that “nothing in our frame of references allows us to accurately define or describe Bitcoin.”

That case involved one Michell Espinoza, who was charged with money laundering after selling bitcoin to undercover cops via his website, Local Bitcoins.

“Bitcoin may have some attributes in common with what we commonly refer to as money, but differ in many important aspects,” Judge Teresa Pooler wrote. “While bitcoin can be exchanged for items of value, they are not a commonly used means of exchange. They are accepted by some but not all merchants or service providers. The value of Bitcoin fluctuates wildly and has been estimated to be eighteen times greater than the U.S. dollar. Their high volatility is explained by scholars as due to their insufficient liquidity, the uncertainty of future value, and the lack of a stabilization mechanism. With such volatility they have a limited ability to act as a store of value, another important attribute of money.”

Over the past year-and-a-half, bitcoin has become a wildly popular form of sending and receiving money to and from online gambling websites.

- Aaron Goldstein, Gambling911.com

Business/Financial News

3 Specific Analytical Features A Quality Pay Per Head Must Have

When you were just starting this online bookie business, there is no doubt that you went round in search of the best pay per head online software, which you now use to make money.

Forbes: Bitcoin is Bigger Than Ever

If you'd bought $1,000 of Bitcoin in 2010, you'd be worth $35 million right now

Online Bookie Tips: The Hold Percentage Tool Explained

Online Bookie Tips: The Hold Percentage Tool Explained

Learn how to find pro players using betting stats in your pay per head book and avoid them clearing the bank. Get the facts here and make more cash. 

Pay Per Head Agents: How to Find Pro Players Using Betting Stats

Simple betting stats might be the most powerful tool for any online bookie. Being able to determine where money might flow, is the first step towards forecasting one’s business.

Fidelity Investments to Integrate Bitcoin

Fidelity Investments to Integrate Bitcoin

One of America’s largest investment firms, Fidelity Investments, has announced it will begin integrating the cybercurrency bitcoin into its own platform.

Syndicate