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

[Ken Hess]

It's certainly article/blog fodder for sure. Cryptocurrencies garner a LOT
of traffic and some of our points here, while some might be
politically-related, are relevant to a general discussion of economy and
technology.

I was interviewed by Goldman-Sachs about Bitcoin and have been the topic of
many crypto discussions. Not always positive for sure.


Thanks,

Ken

Kenneth Hess
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On Wed, Nov 28, 2018 at 10:37 AM Matt Heusser <matt at xndev.com> wrote:

>
> Tom Asks:
> > 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Perhaps I was mistaught, or that economic model is no longer valid.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.
> >
>
> No, you're right Tom. Since the time of Nixon the US has had a kaynesian
> monetary policy that uses the dollar as fiat money - you have to pay taxes
> with it. Have to have to have to. What Ohio is doing "doesn't make any
> sense", or at least, is inconsistent with the Federal policy. Another
> trick: The world reserve currency for oil is dollars - which means to buy
> or sell oil, you need to transfer your money to dollars. That is the second
> piece REALLY propping up the value of the dollar.
>
> Which tells me some motivated state senator who knew better (or perhaps he
> didn't) convinced the house, senate, and governor who DIDN'T know better.
> Likely with a war cry similar to what the dems used to pass the Green Jobs
> Act of 2007 "Jobs, Jobs, Jobs. Anything more complicated than that can't be
> heard. This will create JOBS. Jobs. Jobs." In a for loop: Jobs.
>
> So that's cool, I guess, let's see where it goes.
>
> Other revelant bitcoin journalism stuff moving to ipg-l. If the
> listparents think it's wise, it might eventually move to -pol, but i think
> it is real internet journalism.
>
> --heusser
>
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