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According to what you posted, if I was REALLY into porn, buying illegal drugs online or casinos then yeah...perhaps BC would be perfect for that.
The fact that the BTC price hardly changed when Silk Road was taken down by the feds proves that there is a solid foundation of businesses which accept bitcoin for legitimate products and services.
A very strange attitude to single out porn as being evil from a person who claims to know strippers that accept his silver
"Notice" requirement, at this stage, financial institutions and payment institutions are not allowed to Bitcoin price for the product or service, may not be sold or traded bitcoins as a central counterparty shall not be covered with bitcoin-related insurance business or insurance will be included bitcoin range not indirectly provide customers with bitcoins other services, including direct or: to provide customers with Bitcoin registration, trading, clearing and settlement services; accepts bitcoins or bitcoins as payment and settlement tools; carry with bitcoins RMB and foreign currency exchange services; conduct Bitcoin storage, hosting, mortgages and other services; issue with bitcoin-related financial products; would bitcoins as trusts, investment funds and other investment targets.
It's excellent news for bitcoin. Essentially bitcoin exchanges in China and bitcoin itself is going to be treated as a "commodity" rather than a "currency" and therefore not going to be subject to banking and currency control regulations. The only restrictions on bitcoin exchanges is that they will be subject to the standard internet censorship rules and they will need to get the identity of all users to prevent money laundering. Existing financial institutions will not be able to trade bitcoin, but this is a great thing for entrepreneurs.
The PBC has basically given the green light for bitcoin trading and exchanges. They are trying to keep bitcoin trading "separate" from the other parts of the financial system so that if bitcoin blows up, then nothing bad will happen...
The strategy of creating a ring fence around new markets is a very standard one in China. Hong Kong is an entire city that is ring fenced.
Bank of America's research report gave a mixed outlook for Bitcoin. On the plus side, it noted that Bitcoin can help users avoid high taxes, regulations and government seizures of assets. But the report also noted that the currency's value remains uncertain. The report placed the maximum value at $1,300 per Bitcoin. On Thursday, one Bitcoin fetched a low of $870 to a high of $1,240 on the Mt. Gox Bitcoin exchange.
For example, you can stipulate that payment will be returned if a service has not been done. Can fiat money do that?
Right now, BitCoin is making a bit of money for speculators and early believers, but it will have long periods of stability,