Arizona Introduces a bill to make Bitcoin Legal Tender [pdf]

Post by posterboy » Fri, Jan 28, 2022, 8:44 PM UTC

bdonlan wrote: post #33

fallingknife wrote: post #27

Earlier quoted context omitted.

> make any Thing but gold and silver Coin a Tender in Payment of Debts Well, they've already violated this by accepting USD, but that doesn't necessarily mean they can just do BTC too. To strike this down the courts would need a lawsuit, though, and I'm not sure who could claim damages. > coin money I take this to mean issuing a currency, which they are not doing here since they don't control BTC.

The federal government is what makes USD legal tender, and this clause does not restrict the federal government. Standing would presumably be with the party which refused bitcoin payment in satisfaction of a debt.

Post by carnitine » Fri, Jan 28, 2022, 8:45 PM UTC

Mindless2112 wrote: post #7

JumpCrisscross wrote: post #2

Guess this would mean one could settle state taxes with Bitcoin? That's sort of neat. Also means someone could have a nice dinner and then refuse to pay with anything but Bitcoin, at least under state law, which sounds less fun.

Unless Arizona has a law that says businesses have to accept all forms of legal tender as payment, I would expect that businesses would not be forced to accept Bitcoin as payment. Consider cash: > There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own p…

Post by [deleted] » Fri, Jan 28, 2022, 8:45 PM UTC

fallingknife wrote: post #27

charonn0 wrote: post #15

Wouldn't this violate the federal Constitution? > No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money ; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts ; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility. -Article I, Section 10, Clause 1

> make any Thing but gold and silver Coin a Tender in Payment of Debts Well, they've already violated this by accepting USD, but that doesn't necessarily mean they can just do BTC too. To strike this down the courts would need a lawsuit, though, and I'm not sure who could claim damages. > coin money I take this to mean issuing a currency, which they are not doing here since they don't control BTC.

Post by ceejayoz » Fri, Jan 28, 2022, 8:47 PM UTC

corpdronejuly wrote: post #38

fallingknife wrote: post #27

Earlier quoted context omitted.

> make any Thing but gold and silver Coin a Tender in Payment of Debts Well, they've already violated this by accepting USD, but that doesn't necessarily mean they can just do BTC too. To strike this down the courts would need a lawsuit, though, and I'm not sure who could claim damages. > coin money I take this to mean issuing a currency, which they are not doing here since they don't control BTC.

I'm curious now... could a state just stop accepting USD and demand gold and silver.

Post by ceejayoz » Fri, Jan 28, 2022, 8:48 PM UTC

posterboy wrote: post #44

corpdronejuly wrote: post #38

Earlier quoted context omitted.

I'm curious now... could a state just stop accepting USD and demand gold and silver.

I'm curious now, could a state just stop being reasonable?