Ninjastic
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Re: Those who deny that BTC will rise to seven figures: clearly explain yourselves
by
notme
on 28/08/2013, 23:23:13 UTC
Quote from: crumbs on August 28, 2013, 11:14:33 PM
Quote from: zubelutte on August 28, 2013, 10:59:27 PM
Quote from: crumbs on August 28, 2013, 10:51:51 PM
Quote
2. If people don't spend fiat money, then they don't need fiat money, then fiat money will lose its value quickly, the money printing scam will be discovered easily

So don't spend fiat money, don't use fiat money, and your problem's solved.  Presto! Smiley

This one is not so easy and laws require you to accept fiat money as legal tender

Don't be ridiculous -- in most jurisdictions you may specify how you except your debt to be extinguished -- you are only obligated to accept legal tender *if that debt was accrued without a payment method being specified.*  You wish to sell a car?  Put up a sign "For Sale! 23 BTC!!1!"  When i walk up and ask you "how much is that in dollars," you can reply "i'm not accepting dollars, only BTC!"  Perfectly legal.  You can also specify seashells or bark.  People might laugh, but they won't call the cops.

If *you* run up debts, OTOH, you may be asked to pay in fiat.  The solution is simple -- don't run up such debts.

Your government will, undoubtedly, *tax* you in fiat, and you have to render unto Caesar the things that are Caesar's.  That's life Undecided

Yep.  Legal tender laws only have to be accepted as settlement of debt.  If you don't extend anyone credit, you can't be forced to accept dollars.