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Re:Yellen on Bitcoin: Fed Doesn’t Have Authority to Regulate... by dragonwriter on Thursday February 27, 2014 @06:56PM (#7316252)
> Thus, they could stamp out wooden nickels, but that wouldn't make them worth anything to anybody, except possibly for payment of federal taxes. As long as we have those, it is only a short hop to rectangular paper "coins". They can do it, but nobody has to accept them.

Nobody has to accept paper money, either. The only thing "legal tender" laws mean is that if you want to use the power of government to enforce debts, then the government gets to say that its job is done when government-declared legal tender has been presented, whether you accept it or not.

If you don't choose to involve the government in your affairs, then legal tender laws don't affect you.

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