Re: Wall Observer - MtGoxUSD wall movement tracker

Not familiar with any laws (or how to read them lawyer speak) so might a dumb question...but does the USD being legal tender in the US mean that other currencies are illegal? Or the other currencies can still be be used but just not legally obliged to be accepted?

From my limited understanding as well (so nothing dumb about it, my friend) a business can not accept a foriegn currency. It can only deal in US legal tender. It's not illegal to possess them, but to spend them in the US, on US goods and services is a clear violation of US policy.

So by that thinking, and as one stated earlier, owning Bitcoins is not illegal. Using them is or at least technically.

Every single gas station and grocery store in the USA along the Canadian border accept Canadian dollars.

Let's give strange the benefit of the doubt here. He acknowledges that his understanding is limited.

The concept at play is "legal tender". All that means is that if there is a debt to be settled within the jurisdiction of the US courts, the receiving party cannot refuse to have that debt settled in US dollars.

In other words, any two parties can agree on any kind of payment they so choose. But if one party says "I will pay you in US dollars" the other party can't refuse.