Commodity barter is legal — so is BitCoin

John Pitts
6 min readNov 28, 2020

BitCoin is a computational commodity; stop thinking of it as money

BitCoin was legal at creation; commoditizing data with protocol rules violates no laws — anymore than inventing the container, which automated much of what stevedores did, was.

The fact that BitCoin makes for a commodity which HAPPENS to function extremely well as money, doesn’t make it illegal. Perhaps the better way to say it, is BitCoin is misunderstood due to its youth. If recorded history were better (see Tominaga Nakamoto), we’d probably find fine historical…

John Pitts

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