Ohio will accept Bitcoin for corporate tax payments via Bitpay

Re:Ohio will accept Bitcoin for corporate tax payments via B... by freedomben on Sunday November 25, 2018 @01:37PM (#18528113)

I really want what you said to be true, tho I'm a little more skeptical than you. I don't see this as competition at all, since it will be immediately exchanged for USD, and I would assume the tax bill will be issued in USD and the equivalent BTC amount will be calculated at payment time.

I'm also pessimistic that this will be used. The new taxes on cryptos that the feds put in place have done a great job at icing speculation and making people's lives a living hell should they engage in crypto-trading (a pretty darn good disincentive). I think the federal government is well on its way to killing crypto currencies already.

[ Parent | on HN ]

Re:Ohio will accept Bitcoin for corporate tax payments via B... by AndrewKemendo on Sunday November 25, 2018 @01:57PM (#18528262)

One of the options I see as possible is that the USGov will effectively "acquire" crypto of it gets used enough. They would do this by mandating parity with the USD so that it's simply another instrument of the USD. Would take a lot of legislation, and work but it's possible to do and preferable to allowing a competitive currency inside the states.

[ Parent | on HN ]