3 ms·
Bitcoin Becomes Legal Payment Option in Japan
- rahimnathwani 10y agoThe article says "recognizing Bitcoin and other cryptocurrencies as legal tender" The definition of 'legal tender' is something that must be accepted to settle a debt. For example, if you owe me 500USD (under a contract governed under US laws), and you offer me 5x 100USD notes to settle it, I have to accept. If you offer me 100x 50GBP notes, I don't have to accept, even though the market value of those notes is higher than the value of the debt. I highly doubt it's the case that a creditor in Japan is now forced to accept Bitcoin in the settlement of JPY-denominated debts. Ergo, not legal tender. Ergo I don't trust the rest of the article.
- catenthusiast 10y agoWhen will this Bitcoin fad finally die?