[Ipg-smz] Ohio accepts bitcoin to pay taxes (Techcrunch)

[Liam Kelly]

The second degree of irony (of which I'm still parsing through) is that in
the US all Bitcoin transactions are taxable events.

So does that mean that paying taxes in BTC would also engender yet another
taxable event?

Outside of the infinite feedback loop of paying your crypto taxes, I think
Ohio has done this more in regards of optimism/adoption ("bullish") and
hoping to attract small businesses.

The Midwest, in general, indeed seems pretty curious to attract crypto
talent. There are more than a few politicians from the region announcing
their crypto support.

Final note: Bitcoin will eventually get absorbed by the state or die. I
feel pretty confident about that despite holding a bit of this magic
Internet money...

Tom Geller <tom at tomgeller.com> schrieb am Di. 27. Nov. 2018 um 18:25:

> This strikes me as strange because of something taught to me in an
> economics class 15 years ago: Taxes are one of the only pinchpoints where
> government can insist on payment in dollars.
>
> Even if the rest of society starts trading in chicken feet, by insisting
> on dollars the government ensures that they continue to have value. (No
> dollars? We're putting you in jail.) When the Hungarian pengő bills became
> near-worthless in 1945, what replaced them? Tax certificates ("adópengő").
>
> Perhaps I was mistaught, or that economic model is no longer valid. Or
> perhaps the state is sticking it to the federal government. (In the latter
> case, I'd expect some lawsuits and public statements.) In either case, I
> don't get it.
>
> ---
> Tom Geller  *  Writer & Video/journalist  *  http://tomgeller.com
>        Rotterdam, The Netherlands, +31 (0)6 87071468
>             Oberlin, Ohio  *  +1-415-317-1805
>
>
>
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