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by nullc
4514 days ago
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Except it is the law. Liberty dollars were intentionally similar in design with US currency— any random joe would confuse them. Literature from their maker encouraged (with indirect language) people to pass them off as US dollars and they were priced to make it profitable to do so (E.g. $8 in melt value silver, sold to you for $15 with a "$20" stamped on the front). (See: http://truthalliance.net/Portals/0/Archive/images/news/2012/... plus there are a whole _additional_ set of laws covering the minting of coins of precious metal in the US which aren't relevant for Bitcoin discussions). The counterfeiting charges in the Liberty dollar case basically went uncontested. See also: https://en.wikipedia.org/wiki/List_of_community_currencies_i... To do otherwise rapidly runs into a mess of regulating every single private interaction people have. |
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> Whoever, except as authorized by law, makes or utters or passes, or attempts to utter or pass, any coins of gold or silver or other metal, or alloys of metals, intended for use as current money, whether in the resemblance of coins of the United States or of foreign countries, or of original design, shall be fined under this title or imprisoned not more than five years, or both.
The creator of the currency was convincted for violating this section of code, among others. This is completely separate from imitating US dollars or counterfeiting. I can find no indication that imitation of official US currency was the primary or only justification for his conviction. Every source I can find indicates that simply competing with official US currency is a crime.