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>there's no need to convert them. Have you tried paying your taxes in Bitcoin? The IRS (or regional equivalent) is not going to accept bitcoin any time soon an
by pathy 13y ago
>there's no need to convert them.
Have you tried paying your taxes in Bitcoin? The IRS (or regional equivalent) is not going to accept bitcoin any time soon and they will want you to pay taxes on, for example, profits. There is a need to convert, don't believe otherwise.
- smsm42 13y agoTaxes is not the big problem. Try buying a meal or filling up your gas tank or rent an apartment or paying an electricity bill with bitcoin. 99.(9)% of merchants you'll encounter in the course of your regular life accept local money and about the same do not accept bitcoin.
- GhotiFish 13y agoOut of curiosity, are people seriously using bitcoin stocks as a bank? Or are they just investing part of their money in bitcoin and hoping it goes somewhere? This requirement of conversion only makes sense if people are fully and completely invested. I would be shocked if there were such people at this stage.
- bitcoin-truth 13y agoThere are indeed people at this stage.
- waps 13y agoNo, but I imagine coinbase has. As will many other people who accept bitcoin payments.
- cdash 13y agoIt doesn't matter, you still have to pay your taxes in USD. Even if you earned your salary in bitcoins you would have to convert some to USD in order to pay your taxes.
- waps 13y agoAnd if you're a multinational, you'll have to convert all sorts of currencies in all sorts of other currencies constantly. Companies regularly complains that this costs them 1% or so of revenue.
- notdrunkatall 13y ago>Have you tried paying your taxes in Bitcoin? Not yet.