It Looks Like Bitcoin is Illegal (Constitution)
(Fake News?): Bitcoin is illegal, prohibited by the U.S. Constitution:
Legal opinion, interpretation: "Bitcoin" is illegal. Only the federal government can coin money or produce the common currency or "legal tender." This is stated in the federal Constitution:
Constitution of the United States: Section 10: "No state shall … coin money, …etc."
Historical background for precise interpretation: Even after the revolution, several states had their own printed paper money. This created problems in commerce and trade and establishing the comparative values of each currency. The possibility of a multitude of currencies was seen as a hindrance that provided no worthwhile benefit. Therefore the Constitution addressed the matter by stating explicitly that there would be one currency or "legal tender" established and produced by the new federal government for all of the United States. Since no state can produce a separate currency, or "coin money," neither can any other group or individual. To use Bitcoin as money is therefore a violation of the constitution, probably. It may be the same thing as counterfeiting or "uttering a false note." Will the U. S. Treasury allow Bitcoin to be used as legal currency? There is a possibility that "Bitcoin" could be legally permitted if it changes itself to "Bit-credit." This is an interpretation of the federal law and it could be wrong. But, Bitcoin and some other similar inventions have been called "crypto-currency." Crypto-currency looks like coining money as a kind of digital game. This form of behavior is used to justify government control of the Internet. Not what most users want.
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