False Headlines Herald Bitcoin’s Death in New Hampshire

Bitcoin NH License Plate

Bitcoin is big in NH

This week, social media was exploding with various posts of a breathless, alarmist piece on a bitcoin news website called DinBits: “Bitcoin Sales Now Prohibited In the State of New Hampshire“. Things looked quite dire from the headline and the article itself was also misleading. “How could you liberty activists let this happen?”, cried many on the facebooks.

“The reports of my death have been greatly exaggerated.” – Bitcoin

There’s no doubt that HB 666 (yes, 666) is not a good bill. However, it did not prohibit the sales of bitcoin, as the headlines have claimed. What it actually does is adds a definition of “convertible virtual currency” to the “money transmitter” statutes. Money transmitters are companies doing business selling and sending “stored value”, which now includes virtual currency in New Hampshire.

Despite that broad definition, state banking department attorney Emilia Galdieri told the Union Leader (in a sane, excellent article on this) that the new statutory changes affect money transmitters, like Western Union, Coinbase, or MoneyGram, but is not aimed at person-to-person transactions, consumer-to-business, or bitcoin ATMs.

Keene's Bitcoin Vending Machine

Bitcoin Vending Machine at the All-New “Route 101 Local Goods” at 661 Marlboro Rd in Keene

Somehow, the changes did sneak under the libertarians’ radar, which is a hard thing to do in NH, where we have the New Hampshire Liberty Alliance that has a batch of volunteers reviewing as many bills as possible each year. However, they didn’t spot this one, which means they need more help! Even if you’re outside of NH, you can volunteer for the NH Liberty Alliance and review some bills.

NH’s liberty and bitcoin activists are not happy they were caught off-guard on this and are already working to repeal it and help protect bitcoin and other cryptocurrencies into the future. If you are one of the people who’s acting shocked that this could happen in the “Free state”, I’d like to remind you that despite the amazing groundwork the early movers for the Free State Project have laid here, the official move has yet to begin. This is not a free place yet – it’s just better off than others and a good starting point for a freedom movement. We need more people to join the FSP and move to New Hampshire. The FSP is nearing 90% of our goal of 20,000 liberty activists pledging to move to NH, so completion is right around the corner. If you’ve been on the fence about joining the most amazing and successful liberty migration, just DO IT.

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  1. You can color it anything you want but this bill will affect bitcoin and it’s sellers. New Hampshire is using New York’s model for bitcoin. You will need a money transmitters license. Of course this will make distributors angry but that is how it is. Your ATM will eventually turn into a giant paper weight.

  2. The bill did not slip by all liberty activists in NH. Lots of liberty activists looked at and discussed the bill. If the bill slipped by you, I’m sorry. However, please don’t paint such inaccurately broad brushes over the truth.

  3. The main problem with scandalous headlines, like we see with Trump, is that the overreaction leads people to ignore the underlying problem entirely.

    Trump can bitch about the media which skews his words, and conservatives agree, while ignoring his blatant disregard for the Bill of Rights.

    In this situation, the headline people should have written, is NH no longer the friendliest state to bitcoin thanks to a single bill. Instead it’s a commentary on one random blog no one has heard of.

  4. You may be confusing it with the other bill about bitcoin, WordPressandstuff. Darryl W Perry reports that the NH Liberty Alliance did NOT review this bill.

  5. Hey, look, more lies from Jacks.

    This is not the “New York model.” Only money transmitters will need a money transmitter’s license. And it will have no impact on ATM’s.

    This was covered by the NH Banking Department in the linked article. They are the ones who got this bill passed in the first place. Odds are that they know what was in their own bill.

  6. The sponsor of the bill, Laura Jones, has gotten in touch with the Banking Department, who say they do not intend to regulate bitcoin companies. If and when that occurs, a new bill can always be filed.

  7. so ya im doing my disreappear now See ya in the spring

  8. Flint – Yet again you have failed to produce any evidence your statements are true. It is modeled after the New York State’s system. I suggest you do some serious reading about the subject. Again, your bitcoin ATM is going to end up being a giant paperweight.

  9. The evidence is in the article. Are you incapable of reading?

  10. Proof that as long as Free Staters are unwilling to treat the problem of the State like any other gang problem or crime infestation problem (which it is), and play make-believe games with politics and ballot “voting” (always less effective than bribery/money voting), fsp members will remain cucks to the State of New Hampshire.

    Think guardian angels, bundy ranch, and defensive militia. Very real tactics for a very real crime problem, no different from any other gang infestation when it comes down to it, costumes change nothing. Hearts and minds achieves nothing as long as people have the ability to exercise their most vile desires through a violent gang. The ability to use thugs for your goals will always seem more immediately appealing than freedom as new Statists are made everyday.

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