The supporters of SB 5264 are ignorant and short-sighted, and their bill will only serve to highlight BTC as a viable solution to the problems the industry has engaging in the fiat banking system. Growing adoption of BTC is what happens when government busy-bodies declare war on cash and regulators grant lucrative banking licenses under the condition that banks spy on their customers. The bureaucrats and legislators are clueless.

I hate people interfering in the free markets. If entrepreneurs want to accept crypto, let them. It's their weed. 
I hope it backfires on their asses.

Silly statism.

There would be absolutely NOTHING stopping me from loading up a bitpay card and using that. Nothing. So this isn't even about bitcoin, this is about control. And I agree that it will backfire, as it will encourage the free market to find a solution that skirts that dumb proposed law. 

I hope this passes and highlights BTC as a *completely* viable solution that can hardly be impacted by governments (on/off ramps to fiat excluded), as evidenced by the govt's attempt to ban it for these type of transactions. 

This also begs the question: How do they plan to enforce it? It's pretty much a cash dominated industry still...

Trying to make it easier on themselves to track users!

19 views and 222 votes http://i.imgur.com/TNX4NgV.gif

There is no such thing as bad publicity, this will only serve to further entrench the use of BTC and other cryptos by this growing market.

They don't let banks accept weed money, and then when weed money finds a way into safety they want to take that too?

Another law that the free market will ignore..

@smooth damn, the statists burn the midnight oil to come up with this shite. If they spent half the effort on poverty or mental health care...

moral of the story.... sell your Potcoin now

Nice post, and a good summary of the situation, one has to ask why buying cannabis with cryptocurrency is inherently different from buying it for cash.
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ColdMonkey mines [Gridcoin](http://Gridcoin.us) through generating voluntary BOINC computations for science...
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Great post.  Very interesting. upvoted

This could have a huge impact on pot coin. This is there target market. Fuck the state go rogue then.

Yes, this is all to crazy. I've been following [DopeCoinGold](http://www.dopecoin.com)  crypto which just re-branded and launched.

What a stupid bill.

How could they possibly stop this? Are they going to arrest people? Crypto is freedom.

Well, that's just retarded.

Yeah. They are protecting their interests. It is not a free world when these are the kinds of bills being passed and focused on. I am not surprised though. I guess their desensitization is working on me. One day this will all change, but old people cant accept change, so we build our own world from ground up while theirs collapses on itself.

Wow, that is crazy.

Well I do not care what law they create for hemp (Same cannabis just without the attack vector THC), we at https://hempsweet.net will continue to accept STEEM for all of our products.  We ship to all 50 states and the world.

Deregulate that town!