[pimterry]

> Also it's illegal to use other currencies as tender

That's generally not true - it's not the case in the US (https://mises.org/wire/use-us-dollars-mandatory-united-state...) or the EU (https://ec.europa.eu/info/business-economy-euro/euro-area/eu...).

It is impractical in most places of course, but only because there isn't much demand for it, so it's hard to get bank accounts, contracts or purchases denominated in foreign currencies. Companies and individuals are free to do so, but they don't because using the predominant local currency is useful and convenient for everybody (usually).

The places where using foreign tender is illegal or tightly controlled are generally places where they have huge problems with inflation of their primary currency, like Venezuela.

Venezuela is an illustrative example of the original point here: in practice, if you make your official currency very inconvenient/impractical/expensive, people _absolutely_ will switch to an alternative. Even though paying for things in dollars in Venezuela is illegal and awkward, everybody goes through convoluted mechanisms to do so anyway because the official alternative is worse.

[rorykoehler]

Thanks for the correction. I always assumed legal tender meant the other are illegal.

OT side note: if anyone from HN team is reading this it would be great if the upvote from the parent poster to a comment would be signified visually in some way (like green usernames for 2 week old accounts).