Re:The Evolving Economics of Bitcoin, Gold and Fiat Currencies
by dragonwriter on Wednesday November 01, 2017 @01:49PM
(#15603705)
> There are already companies that allow you to pay federal taxes with Bitcoin (by converting them to USD for you)
That's immaterial, in the same way that you can sell non-currency assets to get dollars to pay federal taxes is.
As long as the taxes are denominated and collected exclusively in dollars (and as long as that's the norm for civil damages, as well), the supply of dollars will affect the economy in the usual way, whether or not for most transactions people directly use things that are not US dollars.
That's immaterial, in the same way that you can sell non-currency assets to get dollars to pay federal taxes is.
As long as the taxes are denominated and collected exclusively in dollars (and as long as that's the norm for civil damages, as well), the supply of dollars will affect the economy in the usual way, whether or not for most transactions people directly use things that are not US dollars.