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You forget people can join the game by just accepting BTC as payment for their goods and services.
by fc2 14y ago
You forget people can join the game by just accepting BTC as payment for their goods and services.
- betterunix 14y agoSince I actually pay taxes (you know, that thing adults do), I doubt that this will work for me.
- DennisP 14y agoAdults who understand taxes know that if they receive payment in something other than dollars, whether it's foreign currency, gold, bitcoins, or barter goods, it's up to them to pay taxes on the dollar value of it.
- betterunix 14y agoRight, and that is the point: even if you accept Bitcoin payments, you still need to eventually get USD. Ultimately, this is why I believe that Bitcoin cannot survive with the Bitcoin exchanges.
- BrokenPipe 14y agoRight, and that is the point: even if you accept Gold payments, you still need to eventually get Euro. Ultimately, this is why I believe that Gold cannot survive with the Gold exchanges.
- betterunix 14y agoHow many markets are using gold as currency?
- DennisP 14y agoYou don't have to get dollars for the whole amount, you just have to report the dollar value of your earnings to the IRS, and pay your taxes in dollars.
- fc2 14y agoThat's a shame. I guess you'll just have to stay poor with the rest of the patronizing adults.
- nimrody 14y agoHow do you set the value of the goods you're selling? Assuming you manage your life with some other currency (USD), you would ideally want something that has reasonable value when converted to your other currency.