Here you go bro: http://forum.bitcoin.org/index.php?topic=17693.0;all

It most certainly is a currency.  It facilitates trade.  That's what currencies do.  That's why I gave the etymology of the word.  It comes from the word meaning 'to flow' -- it permits trade to flow.

And unlike a commodity, it has no use other than to facilitate trade.  Hell, I could argue that a US Dollar Bill is more of a commodity than a bitcoin is -- because if nothing else, I could light it on fire and generate heat from the paper.  Or I could use them to wallpaper my room.  Bitcoins have absolutely no other use than to facilitate trade.  

Currency. Coined money and such banknotes and other paper money as are authorized by law and do in fact circulate from hand to hand as the medium of exchange. (citations omitted.) -- Blacks Revised Fourth

The term "money" is synonymous with "currency," and imports any currency, token, bank notes, and other circulating medium in general use as the representative of value. (citations omitted)

Personally I think a proactive approach to countering claims made by those two senators is a good thing. I am glad someone did it.

My point was that this thread was about the malicious trade and not about Tux's letter to the DEA.
But I see you like to twist words and sentences out of their original context, good luck with that, but I have got better things to do.

Lets just for a moment pretend that someone succeeds making an exchange with the following attributes

- Safe
- Stable
- Secure
- Has no thoughts of stealing money or scamming its user

Lets pretend that the exchange runs just fine for months after months. It even exceeds the turnover and stability that MtGox ever had, and it does that successfully for a long time.

The portal allows for Dwolla, Liberty Reserve and Wire (Iban/SWIFT/BIC) transfers.

Under the rules of the current world that we live in, administrating any form of financial business requires approval and requires the so-called institution to register with the respective financial authority of the country it is residing in. In well known cases this can be FSA (UK), SEC (USA) or any equivalent financial authority.

Operating an exchange platform would mean that money has to move through it (third party funds) and stored on a medium of exchange (a bank) which would be operating in a country (thus being regulated by a financial authority).

Therefore I dont see how anyone successfully, long term, and stable (from a regulatory point of view) would be able to operate without downtime.

While it is true that funds are secured once they reach the BitCoin network, it is also true that the greatest challenge we face is the exchange medium which has to be both stable and reliable in many aspects. The technology part is only one of them. At the end of the day receiving third party funds is where the heavy battle lies.

And unless someone with a license steps into the BitCoin exchange game, and more or less jeopardize their license (due to the fact nobody knows how a government would intervene against a regulated exchange).

So what is our solution? Some rich individual humouring the BitCoin society by testing the waters, or a governmental body in a country stamping BitCoin as an allowed crypto currency and exchange medium (the latter being unreasonable to think would happen).

I dont see any of the two happening, and thus I see a bit problem with BitCoin. Without a stabile price, or price fluctuation it will just be a shadow currency, where exchanging money in and out from will be harder than just purchasing the equivalent in diamonds and getting on a plane or whatever is required to move money anonymously.

"Product or commodity" gives BTC a much better chance of being legal in many countries, so why does our official site/wiki still call it money/currency?
Another option could be "trading units" or anything else related to barter.

Is There A Good Reason To Still Be Calling BTC Money/Currency?

I'm not mad at MtGox for getting hacked. They're a huge target and in some ways a hack was inevitable. They've handled the hack as well as possible with the shutdown, audit and rollback.

However, I have a BIG PROBLEM with MtGox contacting the CIA or FBI or whoever. It's bad enough that I have to worry about whoever getting my information from the leaked database. Now I have to worry about the Feds looking through my account and coming for my bitcoins? Hell no...

This isn't the first time that MtGx has considered running to the Feds:
http://www.forexyard.com/en/news/Bitcoin-exchanges-offer-anti-money-laundering-aid-2011-06-15T220113Z

If you think that the Feds are friends of BTC or that their involvement is going to help the BTC community in any way, then you're sorely mistaken.

MagicalTux, don't be a stupid snitch. Improve your security and learn your lesson, otherwise I'll be joining the tradehill exodus....

The concept of fraud seems beyond the OP.  Either that, or he believes in a world where nobody can go after anyone legally for fraud.

You own a gun, I don't. I need society to keep me safe because I simply don't want to pack heat, I'm not familiar with it, and never have been attracted to firearms, but I respect anyone who chooses to own one.

Now I know for a fact that there is at-least one person in your life you care about who doesn't own a gun, and you rely on the system that we currently live in, to protect your loved ones. You see they may not own a gun , but people who own LOTS of guns are only 15 seconds away with a 3 digit phone call. You claiming independence from our governmental system is like a bee claiming independence from it's hive, it can sting once and die, but if it calls for help the bee triples it's power.

2.  Nobody forced anyone to use MtGox!  The issue here is the one between MtGox and the hacker...

We already have criminal proceedings in process against whoever did the hack.

Since major brands now have "stores" on eBay...

I cannot boycott any business who does business with eBay.

However, what you and I CAN do is:

(1)    Scream it far and wide.  Tell EVERYONE you come in contact with about how evil eBay-PayPal is.   How they seize your money and never return it... for no reason at all.

(2)     If you do browse eBay, there's always a way to contact the seller directly.  Get their contact information.   Tell the seller that you REFUSE to do business through the eBay or PayPal system.  Tell them you insist on taking your business out of ( bypassing ) eBay-Paypal's evil claws.

(3)     Never never never pay fees to eBay or PayPal.   Never buy a listing on eBay.  And certainly, never attach any bank account to PayPal.

Support the blooming new alternatives springing up fast now.

See http://bitcoinme.com and the Shopping tab.