Article

2013-03-22 Government

Arizona could soon approve gold, silver as legal tender

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Posted by Fred 2013-03-22 00:00|| || Front Page|| [11125 views ] Top

#1 Wot's wrong with using Bitcoin?
My little investment is up 30% in the last 3 days and 300% in the last 18 months. Sure beats gold, silver or Central Bank ponzi currency.

Posted by tipper 2013-03-22 03:47|| 2013-03-22 03:47|| Front Page Top

#2 "Wot's wrong with using Bitcoin?"

I dunno, tipper. What's Bitcoin?

Posted by Barbara 2013-03-22 08:57|| 2013-03-22 08:57|| Front Page Top

#3 What's wrong with bitcoin?

Good luck if the net goes down.

Posted by Rob Crawford 2013-03-22 10:15|| 2013-03-22 10:15|| Front Page Top

#4 Good luck if the net goes down.
Rob, isn't the net designed NOT to go down?

Posted by tipper 2013-03-22 10:54|| 2013-03-22 10:54|| Front Page Top

#5 Can the states mint their own coins?

Posted by Ebbang Uluque6305 2013-03-22 11:16|| 2013-03-22 11:16|| Front Page Top

#6 US Constitution, Article I, Section 10.

No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything 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.

..but hey, its a two hundred year old document written by a bunch of old white men that really doesn't apply today /sarc off

Posted by Procopius2k 2013-03-22 11:34|| 2013-03-22 11:34|| Front Page Top

#7 make anything but gold and silver coin a tender in payment of debts
So does that mean Louisiana has to pay me my income tax refund in gold or silver coin?

Posted by Glenmore 2013-03-22 11:39|| 2013-03-22 11:39|| Front Page Top

#8 Bitcoin: the problem is spending it.

Posted by Muggsy Mussolini1226 2013-03-22 12:11|| 2013-03-22 12:11|| Front Page Top

#9 ...pay me my income tax refund in gold or silver coin?

They got around that for quite a while with 'silver certificates', and then chose not to enforce the provision [you know, like immigration control] when they shifted to federal reserve notes. See Coinage Act of 1965

Posted by Procopius2k 2013-03-22 12:59|| 2013-03-22 12:59|| Front Page Top

#10 Bitcoin: the problem is spending it.
Not really MM. BitCoin is both a store of value and a means of payment. Simply sell whatever number of BC's into the currency you are using and use that for local purchases.

Posted by tipper 2013-03-22 13:17|| 2013-03-22 13:17|| Front Page Top

#11 Here you go, Barbara, http://en.wikipedia.org/wiki/Bitcoin

It doesn't explain how to buy in, either that or I'm not up to speed on SuperHighway jargon and missed it.

Posted by Injun Stalin7884 2013-03-22 13:46|| 2013-03-22 13:46|| Front Page Top

#12 Tipper: "sell it into the currency you are using"

I think my point is made.

Posted by Muggsy Mussolini1226 2013-03-22 14:08|| 2013-03-22 14:08|| Front Page Top

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