4 ms·
> How is this different from money or the financial markets? A big difference is that the sovereign requires you to pay taxes in a given currency at the threat
by chadash 5y ago
> How is this different from money or the financial markets?
A big difference is that the sovereign requires you to pay taxes in a given currency at the threat of punishment. So long as everyone needs to pay the taxman, the currency that the tax man accepts is gonna have at least some value.
- mech422 5y agoOnly to the tax man... There have been and still are(?) economies where the local currency was only used for 'official' business, and most trade was carried out in another, more stable currency.
- felipeko 5y agoThey can make this difference disappear by accepting bitcoin then.
- bpt3 5y agoTaxes will still be calculated in the local currency, not in BTC.