Quote from: avikz on Today at 04:31:35 PM

Proof of reserve or ownership is fine! But the major roadblock you are going to face here is the legitimacy of Bitcoin as an asset. Unless that specific country doesn't see Bitcoin as a legal tender, no banks will consider Bitcoin as a part of your net worth. That is just one scenario and I am sure there will be more.

Your vision is nice. But unless a legal framework is provided by the country, I don't see any reason for it to get considered by the registered financial organisations.

Can you give us an example of a country where banks (or the tax authority) would not be consider Bitcoin as an asset? That's definitely not the case here in the USA, and as far as I know it's the same almost anywhere.

The term "legal tender" is wildly misused among Bitcoin hardcores, as most people assume it just means "legal". Bitcoin is legal in almost every country in the world, and there are relatively few restrictions on in in most countries.

"Legal tender" is where a government forces people to accept Bitcoin as payment whether they want to or not, and is actually evil in the context of Bitcoin. You really shouldn't use that term unless you know what it means.