Funny headline over at ForexMinute: “Now Israeli Attorneys Can Accept Payment in Bitcoin for Their Legal Services.” Maybe it’s a personal problem, but I have this crazy habit of assuming words mean what they say, so for me the word can jumps out at me. Israeli Attorneys could accept Bitcoin from the very first moment Bitcoin was released to the world. It’s was only ever a question of would they, or when would they.
From the article:
“The ruling that came from the regional ethics committee of the Israel Bar Association ensures that lawyers in the country can now charge in Bitcoin. The latest development will definitely help Bitcoin receive wide popularity among legal practitioners which will also mean tacit legal support for this virtual currency.”
Am I the only one who thinks an ethics committee composed of lawyers telling people what others are allowed to accept as money is funny? The Bank Of Thailand recently issued the opposite ruling and banned Bitcoin. Do you think the Bitcoin economy dried up in Thailand? Blockchain says no. So, why officially allowing Bitcoin stimulate the Bitcoin economy? Bitcoin does what it wants.
The article goes on:
“Now it will be required from them to apply proper taxation procedures in transactions involving Bitcoin. However, another issue for Bitcoin is that since VAT receipts cannot be issued in it, so this makes problems of how the charges will be taxed.”
DING DING DING! Sociocrats don’t “officially” recognize Bitcoin because they want to help it receive wide popularity and tacit legal support. They’ll declare it money when they decide they’re ready to steal it from you. Don’t fall for the bogus promises to regulate it, or stabilize it, or facilitate adoption, or lend it legitimacy. They have no legitimacy to give.
Here’s a headline: Palestinians Can Accept Bitcoin From Israelis and Vise Versa. I don’t know if they are, but they should. That’s what makes Bitcoin popular. That’s what makes it legitimate. Bitcoin makes it possible for individuals on opposite sides of a multi-generational tribal blood feud to do business straight through a concrete apartheid wall with no government forms.