[anigbrowl]

Bitcoin aims at being money, notwithstanding its relative lack of convertibility. I went to the bitcoin Foundation website just now: 'Bitcoin Foundation standardizes, protects and promotes the use of Bitcoin cryptographic money for the benefit of users worldwide.' (my emphasis)

Bitcoin has been referred to as a 'cryptocurrency' since its inception, and much as I treasure my own copy of Black's Law Dictionary, its definitions are not legally binding. You might as well say 'my clients large collection of unfinished diamonds and gold nuggets don't amount to a hoard of wealth - have you ever tried to buy groceries with an unfinished diamond? I rest my case!'

[svedlin]

As an analogy, I would say a law against counterfeiting money shouldn't apply to things which aren't currencies (like counterfeiting a designer handbag or forging Linden dollars in Second Life...). If the law's purpose is to protect and maintain the legitimacy of certain bedrock instruments the public relies on (cash, real estate titles), I think it's overreaching to extend it to every aspiring virtual (or even gaming) currency...

[gamblor956]

The laws against counterfeiting money don't apply to counterfeiting designer bags or Linden dollars. They have separate counterfeiting laws to cover that.