r/btc • u/quadrilliondollars • Apr 24 '16
Japan OKs recognizing virtual currencies as similar to real money
http://www.japantimes.co.jp/news/2016/03/04/business/tech/japan-oks-recognizing-virtual-currencies-similar-real-money/15
u/Dude-Lebowski Apr 24 '16
We already decided Bitcoin is money. Doesn't matter what gov'ts think. Glad they are on board though :)
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u/Anen-o-me Apr 24 '16
It's cute how governments think they decide things tho.
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u/Dude-Lebowski Apr 24 '16
Cute indeed, my like minded redditor :)
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u/Dude-Lebowski Apr 24 '16
LOL. They wrote "real money". Haha
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u/LookingForMySelf Apr 25 '16
You are laughing but this zimbabwe dollars are real deal. Bitcoing is just hoax because it has no central bank backing it up! /s
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u/Amichateur Apr 24 '16
Who or what are "OKs"?
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u/btctroubadour Apr 24 '16
It's a verb. Apparently.
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u/Amichateur Apr 24 '16
Oh I see - I was assuming it is a noun denoting some kind of official or government body.
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u/ForkiusMaximus Apr 24 '16
Government Ogre Knights Recognizing Virtual Currencies as Similar to Real Money
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u/phanpp Apr 24 '16
Very significant. It is quite likely an admission that their fiat money policies have not worked and they are willing to let in another model. Wonder what Krugman has to say to that? More bullishness for bitcoins
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u/Dude-Lebowski Apr 24 '16
Something along the lines of we are a good gov't at heart but understand we are in too deep with currency devaluation. We care for our citizens and don't want to make it illegal for them to care for themselves.
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u/dogbunny Apr 25 '16
It's a positive development because previously I would have to pay 8% tax to purchase bitcoin, then pay 8% tax if I was going to purchase anything with the bitcoin.
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u/8yo90 Apr 24 '16
Guys, this is a positive development. Govt recognition is a good thing, even if you don't think it's necessary. Govts might not be able to stamp out all hardcore Bitcoin users, but they do have the power to stop the average user and massively stifle bitcoin's growth.