Wisdom

Legal tender means you must accept it

Quote

legal tender means not that you can accept payment, but you must, by force of law accept payment in this currency.

Episode 42: we're all a flutter. Yeah, it's Friday, you know what that means? Time for a mee (approx., from transcript intro) 01:25:12 (play audio from this timestamp, opens in a new tab)

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Summary

Discussing El Salvador's Bitcoin law, Dave clarifies a common misunderstanding. Legal tender doesn't just mean the government allows you to accept a currency; by force of law you must accept it as payment for goods and services.