News for hackers. Stuff that matters.

A comment on Does Generative AI Facilitate Investor Trading? Evidence from ChatGPT Outages. Parent comment

Re:Does Generative AI Facilitate Investor Trading? Evidence ... by janalsncm on Wednesday July 17, 2024 @09:31PM (#40991764)
Bitcoin is too volatile to be a store of value and too slow and expensive to be useful for transactions. It is public so it is not even great for illicit transactions.

> Fiat is weak money

Try explaining that to the IRS when they ask for taxes in dollars.

> Bitcoin is a force of nature

Asteroids are also a force of nature. That doesn’t make them good.

[ Parent | on HN ]
Re:Does Generative AI Facilitate Investor Trading? Evidence ... by johnisgood on Thursday July 18, 2024 @04:45AM (#40993702)
> Try explaining that to the IRS when they ask for taxes in dollars.

If Bitcoin became the most recognized and popular currency, it is conceivable that tax authorities like the IRS might start accepting taxes in BTC. Of course it would require legislative changes, and lots of effort and work put into valuation and conversion, collection and storage, auditing and compliance, and public education.

[ Parent | on HN ]