Reasons To Make Bitcoins Legal

Freedom of Exchange

The main reason why Bitcoin should be legal is because Bitcoin existance has yet to break any serious laws. Bitcoin is just an alternative economy and ideally people should be able to exchange goods in alternative economy if they so choose. As a result it is tempting to let Bitcoin alone and have people chosen in which economy they want to exchange goods.

 

Bitcoins do not emulate United States Tender

Bitcoins, unlike Liberty Dollars, don't resemble United States tender. Therefore they cannot be mistaken for counterfeit USD. Currently under United States law alternative currencies are allow to exist so long as they do not claim to be "legal tender" which Bitcions do not.

 

Bitcoins are Contained

Although we didn't find any laws on the subject, alternative currencies that are localized are also less likely to be targeted by the United States government then currencies that have a wide destibution. This can bee seen in the case of the Liberty Dollar and Ithaca HOUR. The Ithaca HOUR is a local, legal currency. The Liberty dollar on the other hand had a wide distrubution in both the United States and Puerto Rico and is illegal. Having alternative currencies contained within a defined or small geographical area decreases the chances that alternative bills will be passed off as conterfiet USD. It also makes the alternative currency easier to regulate and control.

 

The Bitcoin is much like the Ithaca HOUR because it is contained. Bitcoins therefore cannot be mistaken for United States dollars because Bitcoin exchanges only happen on the Bitcoin network.