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I don't think "legal tender" means what you think it means. In many jurisdictions (including the US and the Eurozone, as far as I know), almost no business is
by wizeman 8y ago
I don't think "legal tender" means what you think it means.
In many jurisdictions (including the US and the Eurozone, as far as I know), almost no business is required to accept legal tender as payment. Legal tender is only required to be accepted when settling a debt, and even then there can be restrictions (such as a maximum denomination or number of banknotes or coins, a maximum amount that can be settled in cash, or contract obligations).
- cromulent 8y agoI think it does mean exactly what I think it means :) It's not about debt, it's about payments. If there is no agreement to the contrary, then you must accept legal tender. You also don't have to accept anything else. Amazon have chosen not to accept Bitcoin, and instead to accept payment via certain credit cards. Saying that they accept Bitcoin is false. Trying to pay people unexpectedly in Bitcoin or chickens or something else will not go well. They can demand legal tender, unless there are other agreements in place.
- wizeman 8y agoI still don't understand why you are mentioning legal tender in this discussion. Legal tender is cash, credit cards are not legal tender. Therefore Amazon does not accept legal tender. Yes, businesses like Amazon could demand payment in legal tender (or credit cards, or Bitcoin) but they are under no obligation to accept any of those forms of payment. Bitcoin is no different than credit cards with respect to legal tender.
- cromulent 8y agoAh yeah, the OP is arguing elsewhere that Bitcoin is legal tender in some European countries, and here he is trying to say you can use it to pay your employees and Amazon etc. I can see how I am confusing things, sorry.