Just because it's technically not possible for the state of california to shut down bitcoin does not mean that the state (generic, not just cali) could not effectively kill it by outlawing businesses and individuals from dealing in it.
It would certainly end the 'bitcoin everywhere' dreams the fanatics have.
I would expect to see a lot more of this. There are a buttload of laws around money transmission and exchange, anr BTC probably breaks a lot of them.
Comments
Just because it's technically not possible for the state of california to shut down bitcoin does not mean that the state (generic, not just cali) could not effectively kill it by outlawing businesses and individuals from dealing in it.
It would certainly end the 'bitcoin everywhere' dreams the fanatics have.
I would expect to see a lot more of this. There are a buttload of laws around money transmission and exchange, anr BTC probably breaks a lot of them.
They could certainly limit bitcoin's appeal, but that is kind of beside the point: I'm sure the automobile broke plenty of horse carriage laws, too.
If enough people find bitcoins useful (big if) they will somehow become normalized with respect to the law.