Ohio becomes first state to accept bitcoin for tax payments from business owners

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.

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