Can Bitcoin Become Legal Tender in America? With Aaron Daniel

Рет қаралды 9,519

Күн бұрын

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Aaron Daniel is an Appellate attorney and author of The Bitcoin Brief, a newsletter analysing Bitcoin’s effect on law and society. In this interview, we discuss the legal arguments around making Bitcoin US legal tender, and whether it would actually confer any meaningful benefits.
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TIMESTAMPS:
00:00:00 Introduction
00:06:06 Learning Bitcoin’s value - escaping Liberia
00:13:19 Learning Bitcoin’s value - property rights
00:20:33 History of the Bill of Rights & Constitution
00:29:19 History of politicisation of the Supreme Court
00:40:01 US legal tender laws
00:45:03 Arguments: could Bitcoin be US legal tender
01:00:28 Making freedom money legal tender reduces freedom
01:11:34 Legal movement for Bitcoin
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****
“We all want freedom, that’s why Bitcoin exists, is to be apolitical freedom money separate from the state; and when you start to then advocate for the state to come and be involved in your freedom money it’s, I hate the phrase slippery slope, but it starts to be a slippery slope.”
- Aaron Daniel
Aaron Daniel is an Appellate attorney and author of The Bitcoin Brief, a newsletter analysing Bitcoin’s effect on law and society. In this interview, we discuss the legal arguments around making Bitcoin US legal tender, and whether it would actually confer any meaningful benefits.
- - - -
It is assumed that for Bitcoin to become widely adopted within the US, it would need to be made legal tender. Without such legal clarity, Bitcoin may continue to be viewed by the general population as an unofficial and risky form of money, liable to be prohibited by the state. Therefore, gaining legal tender status would be a seismic positive shift in Bitcoins development.
Attempts to move the country in this direction are often applauded by Bitcoiners. Whether it is US states commencing processes to establish protections for Bitcoin’s use (including efforts in Arizona to declare Bitcoin as legal tender), to activists and politicians advocating for the Federal government to consider making Bitcoin legal tender. The assumption is these are worthy actions.
But, what is legal tender? What utility and protections does such status provide money? What legal framework(s) would be used to confer legal tender status? And, is it necessarily so that such a classification would benefit Bitcoin and it’s users?
The consideration of any nascent technology in legal terms is always fraught with uncertainty and interpretation. The constitution and bill of rights are a firm basis for the development of the world's oldest and most enduring democracy. But, the consideration of modern developments through the prism of the 18th-century founders results in legal arguments that need testing.
Whist such testing is worthwhile, seeking to make a private digital currency legal tender in the US will be a huge endeavour. And, rushing to develop the legal case misses the more essential policy question: is it beneficial to Bitcoin and its users to mandate its legal standing? Fundamentally, should freedom money remain free: free from state interference, but also free for all people to accept or reject?

Пікірлер: 37

@copperbeckville1853 2 жыл бұрын

Wonderful. Wasn't expecting the great argument against why bitcoin should not be legal tender. Has made me think.

@waynerichardson1051 2 жыл бұрын

That was awesome. Thanks guys, really appreciated that conversation! I learnt heaps today! Cheers

@AnthonyJones-gf6yv 2 жыл бұрын

Home boy made a “bring a gun to school” joke…wild.

@loganwallace911 2 жыл бұрын

That was actually interesting and thus useful. Thanks

@LearntoMakeHonestMoneyOnline 2 жыл бұрын

Peter Schiff picture on the background in the TV 😂😂😂

@formxshape 2 жыл бұрын

Appreciate the interview and conversation

@darmacusa03 2 жыл бұрын

Very very very interesting!

@leoncoombs5788 2 жыл бұрын

Great show, thanks guys!

@Worsdier 2 жыл бұрын

Only those that believe in the myth of authority will let a piece of paper with words dictate what they may and may not use as "legal" tender.

@pamorim01 2 жыл бұрын

Why is authority a myth? You might not like it, but it is very real.

@indianajones3315 2 жыл бұрын

Naive comment, sorry. You must be young.

@truthmonster3290 Жыл бұрын

@@indianajones3315 Young? So, like, if velcro were illegal you would throw out all your shoes, boomer?

@jimshewchuk6413 2 жыл бұрын

Awesome guest

@PlanetFrosty 2 жыл бұрын

Excellent interview Peter. I’m working on the ultimate New Onion AI Routers designed to do 3 things: 1. Protect Absolute Privacy for everyone. 2. Protect Absolute Security for individuals and business. 3. Protect From New and Emerging Attack Vectors dynamically.

@robertrobert6665 2 жыл бұрын

Great topic great, back and forth, enlightening and educational! Made me rethink legal tender concepts. 👀

@kestreljc1559 2 жыл бұрын

The slow pan of the camera is somewhat annoying. The subjects and the background are too close for it to be a positive effect. As to the content, as always I found this discussion very valuable. I really appreciate your openness to evaluating concepts while avoiding credulity.

@schlemmermaul5224 2 жыл бұрын

What’s up with Schiff onthe bottom right of his TV?

@dialy1 2 жыл бұрын

Is it Peter Schiff lurking in the lower right corner of the TV screen in the background ?

@P__114 2 жыл бұрын

Yep

@abrahamnorthhampton3327 2 жыл бұрын

There was a fair amount of back and forth about the difference between the Constitution and the Bill of Rights. I don't think it was made clear that there isn't a difference. The Bill of Rights (the first 10 amendments to the Constitution) is incorporated into the Constitution and has the force of the Constitution, just like the original text and the 17 subsequent amendments (one of which--the amendment imposing a prohibition on alcohol--has itself been repealed by another amendment, thank God! ).

@BeardyDay 2 жыл бұрын

Ya didn't mess up A-Aron!

@jdg9999 2 жыл бұрын

"Apparently there's a right to have guns in the Magna Carta." Oof. You say "we" a lot, but plenty of British people do know our constitutional history, maybe you should ask yourself why average people don't. A lot easier to attack people's ancient rights and liberties if they don't even know they exist.

@truthmonster3290 Жыл бұрын

23:55 it's called Enumerated Powers. EVERYTHING except several specified areas goes to the STATES. Dept of Energy, ILLEGAL. Dept of Education, ILLEGAL. Federal FDA inspections, ILLEGAL. Do you know what jurisdiction the FDA uses to inspect you? Interstate Commerce Clause. The drop of vanilla extract in your muffin came from Indonesia? FDA uses that to claim jurisdiction over your firm. ILLEGAL. The commerce clause was for the commerce itself, between States and states. Things like tariffs, free trade, trade agreements, etc. Not complete jurisdiction over your muffin company because vanilla. The federal government should be cut in HALF, yesterday. That's personnel and budget. That's for a start. This should be 5th grade knowledge but government indoctrination camps focus on other things like genitals.

@bitcoinwithdinny 2 жыл бұрын

"Fuck these people" - dead right Peter 👏😃

@randallstephens1680 2 жыл бұрын

The Bill of Rights are not separate from the Constitution. They are a part of the Constitution. They are the first 10 amendments to the Constitution.

@edgarmirth5020 2 жыл бұрын

oh, cool, a pocket constitution, i want to read the part about slaves get three-fifths of a vote

@P__114 2 жыл бұрын

I can’t believe they took his cat. Sad!

@---rg1gb 2 жыл бұрын

No. Unfortunately, it will never become legal tender

@ryszardmacko6306 2 жыл бұрын

Nothing is certain thus your comment isn't either. I agree the odds are against BTC becoming a legal tender any time soon, but, given the right general mindset of the people at the right moment, I'd say it is possible. We can't predict the future, but if things keep going the way they are right now, there might be a condition where there's too much pain and suffering inflicted upon us by the current policies/governments that a drastic change will be required to mend things up, and perhaps BTC might come in handy. Cheers!