ursaminortaur wrote:Which is perfectly true - Euros, Dollars etc are not legal tender in the UK and hence you can't force a seller to accept them. They are in that sense valueless in the UK unless you can get someone to exchange them for legal currency in the UK. Russia is currently experiencing that problem in spades since the electronic Dollars and Euros it receives for its oil sales to EU countries according to contract are useless to it because of sanctions (and in particular banking sanctions as converting those US dollars into any other currency requires bookkeeping at US banks) hence Putin's attempt to force payment in Roubles.
We might also consider some Canadian Citizens who were targeted by the state over a disagreement*. Sorry that this link is Dailmail, you can't block bitcoin (without cutting data communication), but you can make it very difficult to use and target those you identify as using it for something that you object to.
https://www.dailymail.co.uk/news/articl ... ounts.html
'This, in the short-term, is very bad for the banks and our national economy. The more severe implication, however, is that by using the Emergencies Act as financial warfare, it will sow mistrust in both the banking system and the government and the repercussions will be felt for years to come.'
So is it "money" if the government decides that some citizens can use it while others can not?
I didn't really intend defending Bitcoin in particular or crypto in general on this thread. I just have some difficulty with some of the responses to my posts.
Many of which seem to amount to "crypto bad, fiat good". Not even as considered as "some crypto bad, some fiat good"!
*There are of course two sides to that disagreement and here is not a place to debate the sides. What is certain is that the Canadian government tried and for the most part managed to cut off the protestors from funds or personal savings. BritCoin is such a good idea isn't it.... NOT.