4 ms·

I think the only reason this is legal are “cryptocurrencies are classified as commodity, not currency”. Banks can’t technically make their own currency, but com

I think the only reason this is legal are “cryptocurrencies are classified as commodity, not currency”. Banks can’t technically make their own currency, but commodities are okay. I see this eventually becoming a fairly serious issue with the fed, if this takes off.

matt4077 8y ago
Contrary to libertarian paranoia, alternative currencies are perfectly legal, and neither the FED, nor the Feds, will come after you guns ablaze. Here’s Wikipedia on the topic: https://en.m.wikipedia.org/wiki/Complementary_currency https://en.m.wikipedia.org/wiki/Complementary_currency To which I would add airline miles, gift cards, and postage stamps. The distinction to commodities is only relevant for some questions around taxation, accounting, and investor protection.