Bitcoin Surges Past $7,000 to Extend Record Rally

Re:Bitcoin Surges Past $7,000 to Extend Record Rally by baddox on Thursday November 02, 2017 @01:02PM (#15612161)

I think it’s a bit of a stretch to attribute much of USD’s value to business deals with the US government. That must be a tiny effect. I’d say most of the value comes from the fact that US workers have to pay taxes in USD even if they earned income in some other currency or asset.

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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by phamilton on Thursday November 02, 2017 @01:11PM (#15612242)

> pay taxes in USD

basically, citizens dealing with the US government. I think it's the same category.

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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by baddox on Friday November 03, 2017 @05:24AM (#15617766)

If you define that so broadly, then sure. I got the impression that sgl was referring to directly doing deals with the US government where the US government pays in USD, which I suspect is a much less significant phenomenon.

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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by lr4444lr on Thursday November 02, 2017 @01:18PM (#15612301)

No, not "dealing" with the US government: actually compelled by force of law to render a portion of your assets. I don't mean this to sound as ominous as it does, but rather as stabilizing a force as Bitcoin can never be.

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Re:Bitcoin Surges Past $7,000 to Extend Record Rally by branchless on Thursday November 02, 2017 @11:03PM (#15616395)

> pay taxes in USD

bingo

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