3 ms·
And when the mom-and-pop bookstore down the road can no longer exchange their crypto for fiat (needed to pay their taxes), do you think they’ll keep accepting y
by vermilingua 4y ago
And when the mom-and-pop bookstore down the road can no longer exchange their crypto for fiat (needed to pay their taxes), do you think they’ll keep accepting your crypto?
- landemva 4y agoIt depends on the government. "Crypto Currency Now Accepted For All State Tax Payments" https://tax.colorado.gov/cryptocurrency https://tax.colorado.gov/cryptocurrency
- selectodude 4y ago"A sufficient amount of cryptocurrency to cover the tax, obligation and fees is converted to dollars" No it doesn't. Your crypto is not and will not be denominated in crypto. It's still dollars.
- mikeyouse 4y agoGood proxy for the promise and reality of crypto though - you need to interact with some shitty PayPal crypto platform and they charge you charge 1.8% for the luxury of doing so.
- EFreethought 4y agoOhio tried it, and now http://ohiocrypto.com/ http://ohiocrypto.com/ is a blank page. I looked at the Colorado site. I predict this will also get shut down. Basically you are paying more just so you can say, "I paid my taxes with cryptocurrency", which honestly seems stupid.