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Momentum of ‘Make Bitcoin Legal Tender’ Grows



The below is a direct excerpt from Marty’s Bent Issue #1153: “Make Bitcoin Legal Tender’s momentum is growing.” Sign up here for the newsletter. It’s been a great week for the Make Bitcoin Legal Tender movement in North America. Late last week, we were presented with a bill to the state of Arizona that would make Bitcoin legal tender in the state if passed. via the state of Arizona Earlier today, Aly Hamam, the co-founder of Canada’s Tahinis Restaurants chain, gave an impassioned speech to the House of Commons Finance Committee suggesting that bitcoin should become legal tender in Canada. Both efforts are unlikely to succeed in meeting their short-term goals. The Arizona bill is likely to fail because it is technically unconstitutional for a state to make anything outside of the US dollar or precious metals as legal tender. If your Uncle Marty remembers correctly, Wyoming wanted to make bitcoin legal tender, but had to backtrack from such a proposal due to the constitutional issues described above. It will be interesting to see if the state of Arizona pushes the bill forward and turns it into law. We would soon discover how scared the federal government is of Bitcoin and states claiming their autonomy. In Canada’s case, it seems unlikely that the Canadian government would be too eager to stray from their path of insane money printing and granular control over Canadian citizens, which is best exercised through the monetary system. However, I love Aly’s framing of Bitcoin as a solid money technology that can grow alongside the Canadian dollar and take Canada further into the digital age. , they serve as a very strong signal to the US and Canadian federal governments that there are many people who want to see bitcoin as legal tender and, more importantly, as an essential ingredient for societies advancing into the digital age. This may not seem like much, but it goes a long way. Especially in regards to getting those hopeful of getting elected to start with bitcoiners, which is a very rich and fast growing sector of polling stations in the US and Canada. We see this in the US with states like Wyoming, Texas, Arizona, Kentucky, North Dakota, Michigan, Arkansas and many others openly trying to try bitcoiners with tax breaks and favorable regulatory environments. Expect this competition to heat up as more individuals express their desire to hold and use bitcoin as a human right. Many don’t realize it yet, but these efforts seem to be quite effective and should be accelerated. Ultimately, politicians are placed by the individuals who voted for them and voters can use their vote to move politicians in a certain direction. Thai citizens proved this earlier today. Via the Financial Times If enough individuals put enough pressure on politicians, it looks like we can create a solid protective cover for Bitcoin as it matures on its way to making government regulations ineffective due to its robustness. Keep going . Eventually Bitcoin will be recognized worldwide as legal tender and from there we will be able to do even more to reduce the central checkpoints used by those in power to mess things up for the common man.
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