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Correct me if I'm wrong, but I believe it applies to any nation that the government always retains the monopoly of "issuing" a currency. EDIT: ...which probabl
by northwest 13y ago
Correct me if I'm wrong, but I believe it applies to any nation that the government always retains the monopoly of "issuing" a currency.
EDIT: ...which probably means that sooner or later, bitcoin will probably be outlawed everywhere.
- cromulent 13y agoA fiat currency is one declared by a government, but there are many private currencies out there. For example, the Chiemgauer. https://en.wikipedia.org/wiki/Chiemgauer https://en.wikipedia.org/wiki/Chiemgauer In most cases, using a different medium of exchange is legal. For example, a merchant can accept Euros if they choose.
- stonemetal 13y agoThey haven't outlawed chuck e cheese coins, or any other arcade that uses its own currency instead of dollars. Why would bit coin be any different?
- northwest 13y agoAs far as I remember, the country sets a limit for this. Once a "pseudo" currency reaches that amount (in circulation), it is required to be "authorized" (or not) by the country. Now that was before bicoin existed. So, probably the laws will soon be re-written to take that into account.
- tvtime15 13y agoIs there a Mt.Gox for Chuck E Cheese token? Perhaps Mt.Swiss[cheese]?