“The Bitcoin experiment is at the very beginning”
“Bitcoin & Co. – Digital Agenda 2014-2017 “. Photo of SPD fraction.de via flickr.com.
On Friday, the SPD parliamentary group organized a “digital agenda” on the subject of Bitcoin and Co. The future of payment transactions? For the first time, Bitcoin was discussed openly at the federal level. The co -sponded Friedemann Brennis was on site to listen to the discussion. His conclusion: The fact that participants from science, politics, economy and practice were together at a table is a good sign and imperative, Bitcoin in Germany should become compatible with the masses. Nevertheless, the event made it one thing above all: soon to be soon to be expected, because Bitcoin is not only in the public debate at the very beginning.
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By Friedemann Brennis
“In my circle of friends I am the expert on the subject of Bitcoin, but in this round I am the absolute beginner,” said a listener.
This was already shown by the basis of discussion and the key question: Bitcoin – what we speak of in general? After all, each of the approximately 70 present – whether panel guest or listener – brought their own knowledge and their own experiences with them. Entrepreneurs, association representatives from technology and business, curious politicians – to bring all their questions, wishes and interests to a common denominator was difficult. Accordingly, on Friday, the main aim was to replace different positions and perspectives in a respectful scanning. But that was also exciting.
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Between the legal chairs
So showed Prof. Franziska Boehm from the University of Münster initially opened the legal hurdles that exist in the classification of Bitcoin. The central question: Is Bitcoin now a currency, money, a financial instrument or something completely different? The Federal Financial Supervisory Authority (BAFIN) has chosen the financial instrument and has so far classified Bitcoin as an invoice unit. Jens Münzer, the BaFin representative on the podium, emphasized once again that one was convinced that they have found a useful solution. At least as long as the legislature does not create a better basis.
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In addition to public law, the criminal and civil law also important for the simple Bitcoin user. Because, like all purely digital data, bitcoins have so far not been part of the protection of property anchored in the Basic Law. By definition, property is always linked to physical existence. However, since Bitcoins do not have them, they cannot be property. For the same reason, they could not be “stolen” to anyone formally judicially. If, for example, a hacker bitcoins would not be theft, but a data offense. Although the discussion has been running for a long time, “property” to extend to databases, but a result is still far away, according to Prof. Boehm.
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regulation? No, yes, but!
It continued with an open discussion in the Jörg Platzer as Bitcoin expert, the strengths of Bitcoin as the first really digital money and the existing currencies took off: “The euro is a concept from the industrial age and if we use it, then it is only crutches with which we try to push this analogous thing about the modern electronic networks.”
At the same time, he warned of a rigid legal classification. “Bitcoin is everything: a payment system, a financial system and much more.“He compared his potential to that of the early Internet. When that came at the time, all available regulatory options would have been used at once to be on the safe side. One should imagine that Google would have tried to found in Germany at the time. Impossible. “We shouldn’t repeat this error.“, According to his conclusion.
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Nevertheless, regulation and the associated legal certainty for citizens and companies was the largest topic this afternoon. “Or should we just let it run?“Asked MdB Jens Zimmermann (SPD), who in his parliamentary group U.A. is responsible for cryptocurrencies and and on the initiative of which the event took place at all.
A clear no came from the audience of Matthias Kröner from Fidor Bank. As a financial instrument, Bitcoin has to be “regulated” to protect users and, in his view, the dealings with Bitcoin are praised and far less strict than in many other European countries anyway. “German regulation is an export hit. Professional and constructively executed, Germany could also bring an enormous competitive advantage in the Bitcoin area.”
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Not all of them agreed to that without restriction. The discussion about the regulation in New York named Bitlicense shows how much sensitivity is necessary to make a convincing legal frame model that protects the user, treat all market participants on an equal footing and also promote innovations instead of preventing them.
Jörg Platzer BSPW. Almost every regulation sees critical. The Bitcoin protocol regulates itself. Minimalistic, admittedly, but 100 %. But he also makes concessions. Nevertheless, Bitcoin should not be regulated in a flat rate. If so, then you have to look at it “application -oriented”. Anyone who makes speculation gains with Bitcoin that the should pay capital gains tax. But please not who just uses it to pay.
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Anonymous and yet not
Another friction point, of which there were only a few in view of the thematic scope of Bitcoin on Friday, was anonymity and control. “If the entire population uses bitcoins, we can use our methods from social network analysis to cancel the anonymity very quickly.“With the naturalness of this very explosive thesis surprised Prof. Katharina Zweig, which heads the socio-informatics course at the TU Kaiserslautern, also some experienced Bitcoin experts in the room. Unfortunately, the framework of this event offered little opportunity to respond to this aspect, although it openly questioned one of the most important properties of Bitcoin.
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Nevertheless, Jörg Platzer again referred to the advantage of the “custom privacy”. Perhaps at Bitcoin you cannot rule out monitoring by law enforcement authorities, but at least keep one or the other advertising network outside. In addition, transparency is an elementary part of Bitcoin and does not have to be bad. Donation -based organizations could e.g. with their sponsors with publicly visible transactions. Apart from that, various projects would concentrate on making Bitcoin transactions really anonymous in the future. “After all, the Bitcoin experiment is still at the very beginning.”
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The beginning is made
At the very beginning. This sentence not only summarizes the status of Bitcoin, but also the result of this digital agenda. It has shown where Bitcoin is still at the beginning: political – because according to Jens Zimmermann there has been no one in the Bundestag who has dealt with Bitcoin on his own interest – and in public debate – because on this day only a partial aspect of Bitcoin has been talked about, it has been shown that there is still no common knowledge base about Bitcoin and how it works. However, this is absolutely necessary in order to be able to discuss with each other at eye level. And finally, Bitcoin is still at the very beginning in the practical use. When asked who has Bitcoin, not even half of those present reported.
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However, there was also a fact that Fortunately, the Bitcoin is no longer at the very beginning in all areas. This digital agenda in the Bundestag was significantly more women than at any other Bitcoin event that I visited last year. And ultimately this is also an important factor, Bitcoin in Germany should actually become compatible once.
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Note: Friedemann Brenneis aka The Coinspondent paid the travel expenses for this event out of his own pocket because he finds it important that someone reports in detail about it. We also find that, so we reflect this article here. However, the fee that the Bitcoin blog can pull it out is relatively micrig. Therefore I ask you to send him a donation at the following address. 1akstj3xudkustkutpqqxtt4EWACVVDGJS
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