BBC: A Japanese court has ruled against a man hoping to claim compensation over lost bitcoins, saying the virtual currency cannot be owned. The Kyoto man lost 458 bitcoins worth around 31 million yen (£160,000) following the collapse of the MtGox exchange last year.
The arrival of spot bitcoin ETFs in the US offers easy access to the masses. Purists will steer clear.
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After plummeting in June, the price of Bitcoin has remained at such a low level that it is causing the
Inflation and expected interest rate hikes likely play a part in Bitcoin's dropping value.
The irony is over 9000 here. While I feel a bit sorry for this guy as anyone would be who is the victim of fraud - the Bitcoin faithful tout the supremacy of this exchange because they get to work outside any sort of government / offical oversight.
Conveniently ignoring or downplaying the need for any sort of regulatory authority to ensure that if and when your money goes 'poof' in a fraudulent way there is recourse to go after those who have done you wrong. In bitcoin world the answer to this is 'well better luck next time' but you're still out of pocket despite not doing anything wrong.
So after shunning currency that is backed by a state, this individual wants the state and the tax payer to compensate him for his choice of operating outside the box. Good that the court shut him down.
If you want to be anonymous so badly that you use bitcoin, then you best remember your going to be anonymous to the courts all the same.
On the flip side I don't like the wording/translation of the ruling I'm hearing and its implications towards other virtual content. Might need to read more into it.
Nothing against Bitcoin actually , but you wanted to live in the fringe zone , and to gamble in the wild ? Well you lost it happens ... it's no use asking a governement to help you outside the comfort zone .