Originally published at: https://boingboing.net/2018/11/26/ohio-becomes-first-state-to-ac.html
…
2 Likes
16 Likes
At least they still have Jungle Jim’s.
3 Likes
Shit Coin - just another pyramid scheme, but with a huge carbon footprint
7 Likes
That’s one small step for the tax man …
They should accept Iraqi dinars - once they’re revalued they’ll never need to levy taxes!
6 Likes
There’s a good reason why you can’t pay your taxes in the currency of another country than the one that is taxing you - because exchange rates fluctuate not just from day to day but moment to moment, so between the time you calculate your taxes and the time the government transforms your payment into something it can actually spend, the government could lose money.
Bitcoin is like any other foreign currency, only worse (since it’s legal tender exactly nowhere). This is a monumentally idiotic move on the part of Ohio and they are going to lose money doing it.
14 Likes
fuck bitcoin; as kpkpkp pointed out, the energy-consumption of this useless shit is beyond absurd, even yet, as its crashing, its 54 terrawatthours, thats bangladesh. 2 weeks ago, it was 73 TWH, thats more than the consumption of austria. and thats just bitcoins. this shit needs to be banned.
4 Likes
Yeah, this seems spectacularly dumb. Some online vendors that were taking bitcoin stopped because it fluctuated in value so much that it was significantly different between when something was put in the virtual shopping cart and when the order was actually placed. That difference would be pretty significant in terms of tax bills, even if they cashed out immediately. And since it’s still hugely inflated and going down in value, the state will never get what they’re actually owed…
4 Likes
Life just keeps on getting more interesting every day.
2 Likes
But, but… blockchain!
2 Likes
I wouldn’t call him a friend, but a dude a dude in my circles became a bit-evangelist and one of his major talking points was that 1) the govt was inherently unstable* therefore 2) bitcoin is good because it is not tied to anything and therefore it is more stable 3) the govt not accepting of bitcoin proves his points.
So excuse me while I chortle in the corner.
*this was around '12
3 Likes
YAy my home state is first in something!
1 Like
At least or next coingate will have some fun new tech reporting. https://en.wikipedia.org/wiki/Coingate_scandal
1 Like
Boing Boing in 2019: Ohio becomes first state to stop accepting bitcoin…
This topic was automatically closed after 5 days. New replies are no longer allowed.
