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BTC = tally stick 2.0 = legal tender ?
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Topic: BTC = tally stick 2.0 = legal tender ? (Read 694 times)
mai77
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BTC = tally stick 2.0 = legal tender ?
March 25, 2013, 03:42:33 PM
#1
if any country wanted to introduce BTC or a surrogate/clone as their national currency, that should work fairly easy.
remember, some king of England once declared hazelnut twigs to be legal tender, called "talley sticks".
they were split in half, thereby unique and hard to forge.
Then he declared the hazelnut twigs to be good for paying taxes, which guaranteed a market and acceptance level.
So, Mont-Serrat could basically do the same thing. US gov lists Montserrat as the most broken country, cash-wise.
herzmeister
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Re: BTC = tally stick 2.0 = legal tender ?
March 25, 2013, 04:08:24 PM
#2
Bitcoins are a hard asset, i.e. debt-free.
The modern version of tally sticks as debt-bearing contractual instruments would be barter networks, time banking, or
Ripple
.
https://localbitcoins.com/?ch=80k
| BTC: 1LJvmd1iLi199eY7EVKtNQRW3LqZi8ZmmB
mai77
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Re: BTC = tally stick 2.0 = legal tender ?
March 25, 2013, 04:14:11 PM
#3
yeah but the twig is not debt laden, the citizen is. Why not declare a hazelnut twig debt free, like most twigs growing nowadays?
herzmeister
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Re: BTC = tally stick 2.0 = legal tender ?
March 25, 2013, 04:25:12 PM
#4
hazelnut twigs indeed may have a market value if you collect enough of them.
a tally stick is an
instrument
, basically a ledger (with only one entry).
so you may try to settle your debt recorded on the tally stick, the time banking or ripple system with gold, silver, bitcoins, or lots and lots of hazelnut twigs.
https://localbitcoins.com/?ch=80k
| BTC: 1LJvmd1iLi199eY7EVKtNQRW3LqZi8ZmmB
mai77
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Re: BTC = tally stick 2.0 = legal tender ?
March 25, 2013, 04:26:50 PM
#5
I see your point
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