Every time I hear people talking about "X country will declare Bitcoin as legal tender..." I just laugh. They have no idea what is legal tender.
Bitcoin CANNOT be legal tender! To be legal tender it means to be endless DEBT.
Bitcoin is to empower the sovereign individual and not the states!
Let's stop this crap bullshit with "make Bitcoin legal tender" ! Is a total fallacy! Instead, focus on empowering individuals using Bitcoin every fucking day without any gov permission.
A “tender” is the name given to a small boat that “tends” to the needs of a larger ship, usually by transporting people or supplies from shore or another ship.
With the word legal referring to a contract, the term “legal tender” means to “tend” to a debt sometime in the future, by way of contract.
Meaning, by using legal tender the debt is never paid, as the “small boat” never left the “shore” to deliver the “money”.
These are contracts:
Any retailer or individual could refuse to use a legal tender. Nobody can force you to use it. Why? What is the point of a legal tender then?
The point is that you cannot force a retailer to accept legal tender or indeed any other form of tender. If, however, you buy something from them and there is no contractual barrier to the use of any form of tender, and you offer legal tender in payment, and they refuse it, then they cannot enforce the debt in court.
That's what legal tender means: it's about discharging debts. If you incur a debt you can discharge it with legal tender, but you cannot be forced to incur the debt in the first place, if you see what I mean...
What is a "legal tender"?