For those worried about the constitution stating that States can’t mint their own currency. Well, exactly. The constitution only states that they can’t mint their own currency, not that they can’t name their own currency.
https://ift.tt/VcqLJ8sBe
The story: **”Bill Introduced to Make Bitcoin a Legal Tender in Arizona”-** [https://www.nasdaq.com/articles/bill-introduced-to-make-bitcoin-a-legal-tender-in-arizona](https://www.nasdaq.com/articles/bill-introduced-to-make-bitcoin-a-legal-tender-in-arizona)
*Keep in mind that I grossly over simplified the legal terminology in the constitution to make it easier for everyone to understand. No point in making you all learn the legal verbiage that I had to endure countless of nauseating hours of law school, lectures, and classes to learn.*
But back to the main point, States making Bitcoin their legal tender would not be them minting their own currency since they’d have no power to mint Bitcoin, only earn it. So if anything, it would be a fun legal battle.
Constitutionally, currency is also supposed to be backed by precious metals like gold, and Nixon ended that in 1971 when he stopped the gold standard. See [WTFHappenedIn1971.com](https://ift.tt/iwKMb7Ed1) to learn more.
So, constitutionally, our current dollar in its unbacked form is unconstitutional. I wonder if that battle will ever make it up to the supreme court. I’d toss a couple million at that battle if it ever starts to defend the fact that if the dollar is allowed to exist despite it being unconstitutional, then so should a State chosen currency like Bitcoin that the people’s elected officials proposed on their behalf due to their demands for it to be so.
Furthermore, States aren’t supposed to have the power to legalize or decriminalize a schedule one drug like weed either, but that didn’t stop more than half the states in the country from doing so.
Didn’t stop States from decriminalizing alcohol during it’s prohibition days either, to the point where it’s completely federally legal today.
But back to the point, the FED can bitch and moan all they want, but States will do what they want at the end of the day. And with enough time and aging out of the old guard, it will just continue to spread.
And Even if this proposal from Arizona doesn’t pass like the first Weed legalization proposals and first alcohol legalization proposals failed to pass, they’ll keep on coming, And eventually those like us will be in positions to let them pass.
If anything, these attempts are a sign of future attempts to come.
Those old farts aren’t going to live forever, and it will be those like us who will be in line to take their jobs.
At the end of the day society is a social contract, and if enough of us want the constitution of that social contract to change, then it will change just as it has many times before. No matter how much any r/Buttcoiner doesn’t want it to change today.
Cryptocurrency
