Bitcoin and Crypto Currency: A bank teller cannot steal $5.00 from a bank customer without being a theft. A security guard cannot throw out mail in a building unit mail box without it being a theft. Click here.

Bitcoin and Crypto Currency: A bank teller cannot steal $5.00 from a bank customer without being a theft.  A security guard cannot throw out mail in a building unit mail  box without it being a theft.  He is not a postal worker. He is not the tenant or owner and he cannot say he threw it out simply because he says he is not sure if the person addressed is living there.   It's illegal. Give the mail to the owner directly or let them collect it from their mail box.  You cannot presume anything and just dispose of the mail or return it. It might force the government to resend the pension cheques.      The bit coin or the crypto currency are also theoretical concepts.  They are experimental concepts and fail SEC rules as they are not legal Currency.  How can you trade something that does not yet have the function of stock or a currency? You might as well trade air molecules but at least air molecules are not theoretical.  What if the bit coin began its theoretical existence when someone recognized that electricity, as simple as it is, is worth more to the economy than an ounce of gold?  What is the point of gold if I do not have the electricity to power the electric security doors that keep it safe? Electricity is worth more than money itself as money is not safe or secure without it and much of the activity involving the exchange of money or the spending of money takes place electronically. The best idea would be to take the monies invested into bit coin and create "pay as you go" credit cards with $.50 to $2.00 fee per transaction.    But, right now the Bit Coin and the Crypto Currency fail Financial Service Authority rules also.      The problem at the moment is the excitement about a currency called a bit coin or a crypto currency. Is the bit coin like an American Express travellers cheque where for each dollar you put in, you get a $1.00 in spending power less a small fee of maybe 10 cents per dollar spent?  Cash will always be necessary but so is electricity.  Maybe electricity is the new gold standard.   But, it does not mean that we have electronic gold. Electricity, therefore, could be the new commodity. If you bought a KW hour today on a commodities market, wouldn't it go up in value over time theoretically?  This is electricity but meet get back to the coin and the currency.      The travellers cheque is now essentially the equivalent of a Pay as you Go Credit Card.  Bank of America and American Express will be offering Pay as you Go Credit Cards very soon.   If the bit coin is like a travellers cheque, you could cash it at a hotel for its denominational USD value.  Other than that as currency is the creature of states and nations, The Bitcoin is best to be understood, first of all, conceptually as an electronic currency.  As such, it could become a national currency electronic payment card or EBT card useful at bank machines  across all platforms and as a means of electronic payment anywhere in the world.   There would have to be an activity statement and access to your activity online.  Essentially, it is a global EBT card. An EBT( Electronic Bank Transfer Card) card allows many Americans in various states to purchase food, clothing and various other items within the state but not across the country.  Some EBT cards like the cards programmed for New York citizens allows them to shop in Connecticut also.  But, what if the cards worked nationally?   What if the cards worked internationally  For the American, each transaction in another currency  is converted back to US dollars..to the UsCoin.  If using an English Britcoin, it is converted back to pound sterling.  The benefit is that the citizen can maintain a financial existence electronically without a third party private banking intermediaries that could have their own security and technology  problems  in the middle of your vacation.  It might be that the government card is more secure and more certain as refilled by your income support.  You could opt to maintain your income support in this government type of account or you could arrange to have half or all of it every month paid to your personal 3rd party bank account.  The point of issue here is that the theoretical Bitcoin would be electronic and any transfers would involve identification of some kind; at least a card number passing through the point of sale terminal of nothing else or it would involve the location and account of the transferer sending money to the transferee.      The Hotel in Norway would take it to a bank in El Salvador. The bit coin is so uncertain and experimental in concept that it is also unnecessary and seems to be an open violation of global financial  regulation; a crime.  It's like Hyped Monopoly money that you are now supposed to buy from a pop can machine and hope it will be worth some real money some day. Get in early while it's good; sort of thing.  The suggestion that it is currency, when it is not currency would be an illegal act. It would violate SEC rules when selling and promoting something that does not exist. The money or proceeds are proceeds of crime. Take the money and start a credit card.  Maybe smart phones violate FCC rules; the radiation.  If it's a loadable credit card with unique features with the name Crypto and Currency in the name, it is not illegal. Maybe you are using a name or term such as Bitcoin or crypto card to market a legal financial product called a bank card or portable electronic wallet card with Visa or MasterCard payment features and that is not illegal.     Angel Ronan might be releasing its own Crypto Currency Card in the future, that will always approve any transaction involving the purchase of Bibles, travel, food, and books up to $100.00.  It would be a reloadable,"pay as you go" Credit Card.     Some people Even if we could say the  currency never takes the form of cash, what is it and can I ever show up at a bank and say, "I would like to sell 10 bit coin for US dollars  or EU dollars and what is the rate?" If you cannot ask a bank that question, then you do not have a currency. Currencies usually represent a country's economy and are back by a national government and their economy.   We would like to see that your Electronic Wallet Card can be loaded any where in the world while on vacation since what if you need the card to rent a scooter but you cannot get a secure internet signal to access online banking and make a transfer to your Electronic Wallet Card from your bank account ; online?  You should be able to load the card at some merchant that might also process Western Union payments.   The Verica Favour Card concept allows for reloading of the card at global merchants such as Boots, Tesco, ESSO /Exxon/ BP or any gas station.