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

[Ken Hess]

I like the idea of trading in chicken feet. Unfortunately what will happen
is that a lot of people will jump on the chicken feet bandwagon and decide
that chicken feet are awesome because they aren't controlled by the
government and that they're distributed in nature. Further, they're
ledgered by the cryptic, but not 100% untraceable, featherchain. The false
value of chicken feet will soar because like any get rich quick
scheme--they have no other value except as a false currency. However, I'm
going to mortgage my home to purchase a lot of chicken feet because I think
the value will continue to increase. The downside is if chicken feet split
into nails, scales, and tendons--chaos will ensue because then there won't
be a single "standard" currency on which to rely. Gosh, on second thought,
I think I'll stick with dollars. I mean, I realize that fiat currency is
old, tired, and outdated but hey some of us are just anachronists and
prefer to deal with tangible assets.

Thanks,

Ken

Kenneth Hess
(918) 919-0411
Twitter: @kenhess
Skype: kenneth_hess
kenhess.com <http://www.kenhess.com/> - frugalnetworker.com
Filmmaker - Podcaster - Reviewer - System Administrator - Writer


On Tue, Nov 27, 2018 at 3:25 AM Tom Geller <tom at tomgeller.com> wrote:

> 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 Perhaps I was mistaught, or that economic model is no longer valid.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
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