
Bitcoin Becomes Legal Payment Option in Japan - vinchuco
https://yro.slashdot.org/story/17/04/03/220205/bitcoin-becomes-legal-payment-option-in-japan-prices-spike?utm_source=slashdot&utm_medium=twitter
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rahimnathwani
The article says "recognizing Bitcoin and other cryptocurrencies as legal
tender"

The definition of 'legal tender' is something that must be accepted to settle
a debt. For example, if you owe me 500USD (under a contract governed under US
laws), and you offer me 5x 100USD notes to settle it, I have to accept. If you
offer me 100x 50GBP notes, I don't have to accept, even though the market
value of those notes is higher than the value of the debt.

I highly doubt it's the case that a creditor in Japan is now forced to accept
Bitcoin in the settlement of JPY-denominated debts.

Ergo, not legal tender. Ergo I don't trust the rest of the article.

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catenthusiast
When will this Bitcoin fad finally die?

