Arizona introduces bill to make Bitcoin legal tender!

[OgNasty]

A bill has been put forward in Arizona to make Bitcoin legal tender within the state!

Absolutely amazing.  I'm not sure if I ever believed this would happen.

https://www.azleg.gov/legtext/55leg/2R/bills/SB1341P.pdf

It remains to be seen what sort of support will be behind this bill, but it gives an optimistic outlook on the future anyway.  I remember saying lots of things about what would happen when this day came.  I guess we get an official opportunity to see how far away from this being a reality we are.  So proud to be a citizen of Arizona right now.  Almost makes up for what happened during the last presidential election.

[cmg777]

A bill has been put forward in Arizona to make Bitcoin legal tender within the state!

Absolutely amazing.  I'm not sure if I ever believed this would happen.

https://www.azleg.gov/legtext/55leg/2R/bills/SB1341P.pdf

It remains to be seen what sort of support will be behind this bill, but it gives an optimistic outlook on the future anyway.  I remember saying lots of things about what would happen when this day came.  I guess we get an official opportunity to see how far away from this being a reality we are.  So proud to be a citizen of Arizona right now.  Almost makes up for what happened during the last presidential election.

Agreed. Let's hope Biden and Gessler don't play copy cat and do as Russia and China have with Bitcoin lately in banning it. I don't think that will happen for two reasons. 1. They have nowhere to put their FED stamps. They've already dumped them into foreign markets after the 2008 collapse and now this is the last place to dump them before hyperinflation will take place. 2. Even if you ban Bitcoin the web will still accept it as currency due to other nations adopting it as such El Salvador (and Turkey(?)).

[OgNasty]

The bill, SB 1341, was introduced by state Sen. Wendy Rogers, a Republican. It seeks to amend the list of accepted legal tender to include bitcoin, which means the cryptocurrency would be accepted for the payment of debt, public charges, taxes and other dues.

https://www.yahoo.com/now/arizona-senator-introduces-bill-bitcoin-213046518.html

More information being made available about this bill now.  Pretty interesting to think taxes could be paid in Bitcoin.  I remember this was an absolutely absurd thought as recent as half a decade ago.  I still have my doubts as to whether this will actually pass, but the fact it's even on the table is a pretty massive step forward that I thought would be extremely unlikely to occur for decades if ever.  Pretty amazing how some politicians have embraced Bitcoin and acknowledged the US Dollar is doomed as a result of overprinting.

If you don't understand why the US Government will never allow taxes to be paid in anything but dollars, then you have a lot of reading and thinking to do.

[cmg777]

The bill, SB 1341, was introduced by state Sen. Wendy Rogers, a Republican. It seeks to amend the list of accepted legal tender to include bitcoin, which means the cryptocurrency would be accepted for the payment of debt, public charges, taxes and other dues.

https://www.yahoo.com/now/arizona-senator-introduces-bill-bitcoin-213046518.html

More information being made available about this bill now.  Pretty interesting to think taxes could be paid in Bitcoin.  I remember this was an absolutely absurd thought as recent as half a decade ago.  I still have my doubts as to whether this will actually pass, but the fact it's even on the table is a pretty massive step forward that I thought would be extremely unlikely to occur for decades if ever.  Pretty amazing how some politicians have embraced Bitcoin and acknowledged the US Dollar is doomed as a result of overprinting.

If you don't understand why the US Government will never allow taxes to be paid in anything but dollars, then you have a lot of reading and thinking to do.

So there is only two routes for the US dollar: Become worthless and irrelevant like other hyperinflated currencies (Weimar Germany and Zimbabwe) or integrate into Crypto. If the dollar heavily integrates into crypto and even the stock markets become 24-7 like the current crypto markets are then the dollar might be able to flip crypto. I doubt this scenario will happen because Wall Street is set in their ways. At a minimum if the dollar and private investment firms continue to embrace crypto ever more (more ETF, Funds, etc.) and dump more of the hyperflated money into the crypto market thereby temporarily staving off collapse due to hyperflated printing of the money supply.