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Dennis Porter shared: BREAKING: The state of California has introduced a bill to make Bitcoin legal tender.
SB-1275 State agencies: cryptocurrency introduced by Senator Kamlager. “SECTION 1. Section 11000.3 is added to the Government Code, to read: 11000.3. A state agency may accept cryptocurrency as a method of payment for the provision of government services.”
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I can’t share all the details of the process that is about to take place for the sake of its success. I’ll admit it’s a long shot, but we need to stop just seeking incremental gains. Super Bowls aren’t won by the run game alone. We need some deep shots.
Community Response: Dennis, how would this work? Under the US Constitution, individual states can’t determine legal tender, right?
Legal tender can’t be approved at state level, it would have to be done at a federal level . And it’s no happening without even regulations.
If this is the Bill, he is referring it states, “A state agency may accept cryptocurrency as a method of payment for the provision of government services.” It is not suggesting making BTC an “official” legal currency.
There was no bill introduced. There was a placeholder introduced. Why are you trying to pump something by inflating the truth? This does no good in the long run. Just clearly stated what was done. Please.
The community doesn’t need false hope, we crave real news.
I’m confused – people are already accepting Bitcoin as legal currency and as far as I understand it, it was never illegal.
Beware folks, It’s a Trojan Horse guised as future. If you think that BTC came about freely, then you have not been paying attention. The only ones who benefit are the whales waiting on retail to pull on the bait. Once you’re in debt, then you will hear the lamentations for UBI.
I read it. Nowhere does it say Bitcoin. It says “cryptocurrency” its Bullish for all crypto assets not just Bitcoin.
This isn’t a good thing for Bitcoin. Legal tender leads to trackable tender. Just watch. This is a move for control not freedom.
Any member of a legislative body can “introduce” a bill. Talk to me when it’s got support from leadership. Otherwise, it’s just fluff and gimmickry.
Article 1 Section 10 of the US Constitution. A state, as a matter of law, cannot establish legal tenders. It’s a right reserved for the federal government. This is dead on arrival. Stop shilling bills that are being drafted so some politicians gain clout to collect donations.
Whether it passes, or not doesn’t matter. It’s that people are starting to see the full picture of this technology. This percentage of people is growing everyday. The next generations of kids worldwide I think we can all say (whether bull or bear) will be all about BTC
