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Topic: could the Stamp Payments Act of 1862 make bitcoin ILLEGAL in America? (Read 1348 times)

legendary
Activity: 1078
Merit: 1006
100 satoshis -> ISO code
What's a freaking stamp anyway??
sr. member
Activity: 294
Merit: 250
doesn't that law essentially make poker chips illegal? Poker chips are tokens that are worth less than a dollar
hero member
Activity: 994
Merit: 501
Wasn't there just a thread on this same topic yesterday??

Yes, and many responses.

Short answer is no.  If US wants to ban BTC, it won't be via this.  It will be something along the lines regulation, taxation, laundering. 
member
Activity: 98
Merit: 10
Wasn't there just a thread on this same topic yesterday??
legendary
Activity: 1988
Merit: 1012
Beyond Imagination
No, since bitcoin are generated in blocks, one block include 25 coins, which worth much much higher than $1
legendary
Activity: 1232
Merit: 1001
http://www.wired.com/wiredenterprise/2014/01/stampact/

is this something we have overlooked?

discuss

That would be ridicolous.

Besides, I don't think Bitcoin was designed to fit into the current system anyway.

Laws and Regulations need to be designed to work with new technologies, not the other way around. If everything new needs to fit in the current system we won't have any progress anymore.
legendary
Activity: 1310
Merit: 1000
Not a check, note, or token. I see no issue IMO. Besides we transfer, not issue Smiley
full member
Activity: 157
Merit: 100
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