To Bid or Not To Bid On It – The Bitcoin

bitcoin_let's talk

Image courtesy of: http://letstalkbitcoin.com

The Bitcoin as a new payment concept can be pretty intimidating as its perception is still quit new. Developed in 2008 by techies, this digital form of money is considered by many people as an overrated techno-bubble. Fact is that its value swings volatility,  has the ability to be used anonymously and might be acquired through illicit transactions.

Bitcoins “pro’s” defense the Bitcoin by saying that the Bitcoin is not any riskier than accepting cash as that can’t be traced either and its usage preserves the client’s privacy.

Some companies and professionals gradually start to accept the Bitcoin as an official payment method, e.g.  David Aylor’s Law Offices reported last year that it had accepted a client’s payment in the form of Bitcoins. That transaction represented the first publicly recorded Bitcoin payment made in the United States for legal services.

Dutch lawyers do not have this freedom of choice; they were officially notified earlier this month that “this regulation applies to all (Dutch) lawyers”. So for the time being, Dutch lawyers bite the dust, not the Bitcoin.

I guess it is for the best as with a Bitcoin you might be able to buy today a bottle of Coca Cola and next week a fancy yacht…

Bitcoin rollercoaster

Image courtesy of: http://bitcoinexaminer.org

Read more about the legal aspect of the Bitcoin here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s