[jnhnum1]

If this is illegal, then I think there's a freedom of speech issue here given that essentially the protocol is just sending messages (with no copyright infringement or anything like that) to peers...

Edit: of course, you could say the same about other digital transmission of currency, but it seems different due to bitcoin not being tied directly to any "real currency". Then again, IANAL.

[jerf]

"just sending messages"

With this message, I hereby transfer to jnhnum the sum of $12.54 out of my checking account.

(Translation, since that's probably a bit subtle to just throw out there: In the process of abstracting money transfers as "just sending messages" your abstraction has leaked critically important details. There's more to money transfers than "just messages", and it is precisely those differences that are why you will not be finding $12.54 from my bank account in your account as a result of this "message" that I have just sent. Your abstraction is not a good one for any purpose, practical or rhetorical.)

[hammock]

Citizens United (the decision that allowed corporations to make unlimited monetary contributions to political organizations) was justified by the first amendment. A check or promissory note is a message, transferring money, and is a form of speech. Where you spend your money is protected free speech.

[jerf]

Your criticism is logically backwards. Transfer of money is not just a message. It is a message, plus some other things that make it also a transfer of money. You can't reduce it to just a message being passed. It is a message, it is not just a message.

[hammock]

It wasn't a criticism, it was a support of bitcoins. The point is that the Supreme Court supports the notion of money transactions as free speech.

[trotsky]

Also, conspiracy is just two dudes talking.

[sirlancer]

When does money start to become "real currency"? Numbers on an ATM machine are only representative of the physical currency that I can extract from a bank. A message on an IM window could essentially mean the same thing: "Thanks for helping me move my couch, I'll get that $20 over to you by tomorrow". So at what point does the rubber meet the asphalt and how will Apple enforce this down the road?

[fleitz]

We don't have 'money' anymore, we have currency. USD is not money, it's currency and fiat currency at that. US Dollars are backed by an obligation to give you more US Dollars in the future.

If you had liberty dollars then you'd have money.

To directly answer your question, money becomes currency when you transfer representations of value instead of value. (eg. A piece of paper obliging the barer to receive something of value)

Pennies, especially pre-2000 pennies would be considered money as the store of value is the metal not the face value.

[nhaehnle]

Wikipedia defines money as:

"Money is any object or record, that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context."

This is in line with most actual usage of the word. Bottom line, you're just playing silly semantic games. It is useful to understand the differences between different types of money, but claiming that something is "not really money" based on your own private definition of money does not add to the discussion.

[fleitz]

Actually I juxtaposed the definition of money and currency. The distinction is important. Money is a superset of currency and I got that wrong.

Most people think that playing the lottery is an investment strategy for retirement, I would not trust what most people think when it comes to economics. Little semantic games are hugely important to people. Look how pissed everyone gets when MS describe the MSPL as 'open source'.

Actually, my own private definition does add to the discussion, when enough people connote a word to have a different meaning it changes the definition of a word, all based on their own little private definitions of words.

Your views on semantic contexts are 'fantastic'. I'd suggest you look that one up on the OED if you want to understand the definition I'm using, most people would get it wrong.

[eropple]

Liberty dollars again? Man, if they hadn't gotten raided I'd be suspicious of affiliate link scams.