Quote from: ABCbits on Today at 10:12:14 AM

Quote from: legiteum on February 26, 2024, 02:55:40 PM

Quote from: ABCbits on February 26, 2024, 10:42:07 AM

But without Bitcoin legal status as currency/payment method, merchant can't just accept Bitcoin which also hinder adaption.

How do explain the thousands of merchants all over the world, including the USA, who accept Bitcoin then? Are they all breaking the law?

On some country (such as US), Bitcoin has legal status as money. Here's an example, https://www.reuters.com/article/us-jpmorgan-cyber-bitcoin-idUSKCN11P2DE/. On country without clear regulation, i would guess the merchant assume it's not forbidden or dare to take some risk.

to clarify yet again

when there is no legislation its "not illegal". but also not ratified/recognised as "legal"...
by having no legislation its "not illegal".... as opposed to legal/illegal

this means, and we seen it for years merchants were using it, but the 'trust' was low. it was treated as similar to collectables in buyer/sellers eyes
and yes anything can be treated as unofficial currency. but it was not deemed as trusted/ratified "money"
EG even couples in a relationship can treat sexual favours as currency
EG even a neighbour helping another neighbour fix a car/mow the lawn, treat a beer/vodka as currency in exchange for the help
but those are not ratified ratified/official currency

we have now seen that now legislation exists the barriers of entry have heightened
the more people lobby for government recognition, the more people end up requiring government permission