I would have thought bitcoin was too volatile for government payments, but apparently Ohio thinks differently:
I would have thought bitcoin was too volatile for government payments, but apparently Ohio thinks differently:
It is, and the value is plummetting, lost over a quarter of its value in a week recently - but the price has defied logic for much of bitcoin's history so who knows if it could shoot up again? Anyway, it's a terrible idea, partly for environmental reasons.
I wonder what will happen if you pay in bitcoin then it loses value by the time the state exchanges the utopia money for actual fiat currency they can put in their coffers to actually pay for things.
Do they come after you for the difference? Are they just betting BTC will increase in value after that point? This is like allowing you to pay your taxes in gold. Except gold can be sold for industrial purposes where as BTC just exists, kind of.
Haven't you heard? It's the new role of government: To legitimize the illegitimate.
The company processing the BitCoins will guarantee the value of the BTC to USD conversion for the 15 minute transaction period, so if it drops in the 15 minutes they will make up the difference to the state of Ohio.
In reply to z31maniac :
I wonder who in the tax department knew who in this exchange company.
Ohio just wants the 100 idiots doing illegal financial stuff to self-identify.
I wonder if Craigslist blazed the path leading to Ohio’s decision?
I have heard that one person controls as much as 60 percent of the value of bitcoin. Of course who knows, it’s a completely unregulated and totally lacking in any kind of transparency.... yeah, good idea. 
This post is who invented the internet for me.
Spammed again.
This topic is locked. No further posts are being accepted.
