Bitcoin: "A Self-Contained Financial System"

[Coinabul]

My money; Our Bitcoin. 

You mind if I use that?

[Portnoy]

My money; Our Bitcoin. 

You mind if I use that?

Feel free. 

[cypherdoc]

it just seems to me that the most likely candidates to resonate with a description such as this would be self contained ecosystems like communities, industries, or nations.  surely these entities don't operate in a vacuum and do interface with the rest of the world but certainly Bitcoin could facilitate trade within them.

[cbeast]

I don't know what country you are in, but in the USA only Congress is legally able to issue money. I would be careful calling Bitcoin money in America. As a foreign currency, it seems to be acceptable for now.

[Gabi]

I don't know what country you are in, but in the USA only Congress is legally able to issue money. I would be careful calling Bitcoin money in America. As a foreign currency, it seems to be acceptable for now.

Yes, and if you for example use EURO you go to jail

Seriously... wtf

[Gabi]

I asked my father -- who is behind me -- what he thought of this:

"Sounds Un-American, son."

Hi, i'm European.

[cbeast]

I don't know what country you are in, but in the USA only Congress is legally able to issue money. I would be careful calling Bitcoin money in America. As a foreign currency, it seems to be acceptable for now.

Yes, and if you for example use EURO you go to jail

Seriously... wtf

I was thinking Canadian. I get coins in my change all the time. I suppose I should call the Secret Service?

[DeathAndTaxes]

I don't know what country you are in, but in the USA only Congress is legally able to issue money. I would be careful calling Bitcoin money in America. As a foreign currency, it seems to be acceptable for now.

100% not true.

[cbeast]

I don't know what country you are in, but in the USA only Congress is legally able to issue money. I would be careful calling Bitcoin money in America. As a foreign currency, it seems to be acceptable for now.

100% not true.

What's not true, Article 1 Section 8 of the US Constitution or that some stores accept Bitcoin? Or maybe you're one of those that refuses to call Bitcoin a currency.

[DeathAndTaxes]

It is not illegal to use private currency in the United States.  There are couple dozen private currencies and some have existed for decades.

The Constitution gives Congress the AUTHORITY to print and regulate currency but doesn't explicitly prohibit alternative currencies.  There is no federal statute that prohibits private currencies in the US.

[cbeast]

It is not illegal to use private currency in the United States.  There are couple dozen private currencies and some have existed for decades.

The Constitution gives Congress the AUTHORITY to print and regulate currency but doesn't explicitly prohibit alternative currencies.  There is no federal statute that prohibits private currencies in the US.

OK, so maybe it was 25% not true then.  I did say that Bitcoin is acceptable as a currency in the US. As far as how the Constitution has been interpreted, you might want to ask Bernard von NotHaus.

[DeathAndTaxes]

OK, so maybe it was 25% not true then.  I did say that Bitcoin is acceptable as a currency in the US. As far as how the Constitution has been interpreted, you might want to ask Bernard von NotHaus.

Counterfitting and fraud are illegal.  Like I said there are many private currencies in the United States some have existed for decades.



Berkshares have been in circulation since 2006 - about 2.2 million have been issued.



Ithicahours have been in circulation since 1991.

[cbeast]

OK, so maybe it was 25% not true then.  I did say that Bitcoin is acceptable as a currency in the US. As far as how the Constitution has been interpreted, you might want to ask Bernard von NotHaus.

Counterfitting and fraud are illegal.  Like I said there are many private currencies in the United States some have existed for decades.

Berkshares have been in circulation since 2006 - about 2.2 million have been issued.

Ithicahours have been in circulation since 1991.

Sure, coupons have always been around. Like S&H Green Stamps. Now we're splitting hairs. After all, money is a reification. We're talking about legal interpretations. That's what I love about Bitcoin. It challenges all the conventions about who's imaginary value is better.

[DeathAndTaxes]

OK, so maybe it was 25% not true then.  I did say that Bitcoin is acceptable as a currency in the US. As far as how the Constitution has been interpreted, you might want to ask Bernard von NotHaus.

Counterfitting and fraud are illegal.  Like I said there are many private currencies in the United States some have existed for decades.

Berkshares have been in circulation since 2006 - about 2.2 million have been issued.

Ithicahours have been in circulation since 1991.

Sure, coupons have always been around. Like S&H Green Stamps. Now we're splitting hairs. After all, money is a reification. We're talking about legal interpretations. That's what I love about Bitcoin. It challenges all the conventions about who's imaginary value is better.

Those aren't coupons anymore than Bitcoins or Gold is a coupon.

"We're talking about legal interpretations."

Exactly and your legal interpretation is invalid.

[cbeast]

Comparing Bitcoin to Berkshares and Ithicahours is ridiculous. Bitcoin is global, not local.

[P4man]

D&T is correct. I misunderstood some rulings earlier and dug deeper, and he is 100% correct.
However, what you can not do, is call something legal tender. You can create your own money, afaik you can call it money, it just has no legal basis to settle debts. IOW, you bucher doesnt have to accept bitcoins. He has to accept dollars, or euro's or whatever the legal tender were you live. If you live in the US, he doesnt have to accept euro's either, as its not legal tender there. Same as bitcoins. Think of bitcoins as a foreign currency. No legal basis, but therefore not illegal.

[cypherdoc]

How about "A Self Contained Financial Platform" upon which communities, industries, and nations can build?

[DeathAndTaxes]

Comparing Bitcoin to Berkshares and Ithicahours is ridiculous. Bitcoin is global, not local.

Which has no distinction under the law.  Please provide the cite for the statute which says a national or global private currency is illegal but a local one is illegal.  Also there is limit on where a Berkshare can be accepted anymore than there is a limit on where Bitcoin can be accepted.

A hint .. you made a completely false and easily verifiable claim.  Stop digging you just make yourself more and more foolish.

[cbeast]

Comparing Bitcoin to Berkshares and Ithicahours is ridiculous. Bitcoin is global, not local.

Which has no distinction under the law.  Please provide the cite for the statute which says a national or global private currency is illegal but a local one is illegal.  Also there is limit on where a Berkshare can be accepted anymore than there is a limit on where Bitcoin can be accepted.

A hint .. you made a completely false and easily verifiable claim.  Stop digging you just make yourself more and more foolish.

Huh? Your asking the wrong guy. Ask the guys in prison for creating illegal currencies. Your strawman claim that I made a distinction between local and foreign currencies based on legality is false. Fact is, I consider your 'local currencies' just like coupon books.

[DeathAndTaxes]

Comparing Bitcoin to Berkshares and Ithicahours is ridiculous. Bitcoin is global, not local.

Which has no distinction under the law.  Please provide the cite for the statute which says a national or global private currency is illegal but a local one is illegal.  Also there is limit on where a Berkshare can be accepted anymore than there is a limit on where Bitcoin can be accepted.

A hint .. you made a completely false and easily verifiable claim.  Stop digging you just make yourself more and more foolish.

Huh? Your asking the wrong guy. Ask the guys in prison for creating illegal currencies. Your strawman claim that I made a distinction between local and foreign currencies based on legality is false. Fact is, I consider your 'local currencies' just like coupon books.

The guy in jail is in jail because he committed FRAUD and COUNTERFITTING.  Private currencies are legal in the United States under existing law.  What you "consider" isn't worth a golden terd

Here is a photo of the "Liberty Dollar"


The case had nothing to do with the legality of private currencies and everything to do with fraud and counter-fitting.

Since you appear to just troll for the sake of trolling ... welcome to ignore.