Re:Coinbase is exploring the addition of new currencies
by arcticbull on Monday December 10, 2018 @11:00AM
(#18648782)
Beyond that the government only accepts fiat for tax payments, tax payments are denominated in it. It’s a small distinction but an important one, as swings in the value of the bartering asset you’ve been trading with as we see today can put you massively behind on your tax payments.
Not that paying taxes is bad. It helps keep inflation down vs the government just borrowing all the fiat it needs from the fed. However, if you try and run your whole life in gold or bitcoin or whatever you just can't do it legally.