You guys have to get into the Iraqi Dinar trade before it’s too late to make millions.
WTF! So Ohio can take less money than the taxes are worth, never mind if they hang onto those coins for more than a few seconds. How nice for the rest of the taxpayers who have to make up the difference.
Supposedly they are paying a 3rd party to take the bitcoin and pay Ohio cash, for a fee. (and a similar fee is already part of accepting credit card paymets)
Which still results in less cash for the state doesn’t it? Or are they tacking those charges to the person paying with the coins?
Regardless, it’s a pretty silly move. Accepting commodities to pay taxes? Is Ohio a feudal kingdom?
“I owe the state, 4 chickens and a hog this year.”
Similar in principle, sure. But any payment processor that is charging credit card level fees for taking bitcoin exchange risk is going to go bust very quickly.
Yea I remember when it hit 500 bucks and thought “I should have bought when it was 30!” I thought there was no way it would go higher than that while also having no value. Like someone said above. Can’t time a bubble.
One of the strangest episodes in last year’s massive cryptocurrency boom was when boxer Floyd Mayweather posted an Instagram endorsement for a little-known cryptocurrency called Centra. In April, Centra’s founders were indicted for fraud, with the SEC saying that many of their claims were “simply false.”
Oh exactly, I think near the end of 2016, it went from like 600-800 pretty quickly, and I was like, I should get in on this, but held off, because of the risk. I am happy now, and own a home, got married, and still have money left over. Though it would have been nice to get to 20% down on the house instead of the 5% we managed.
Dunning-Krugerrands
Was the crypto utopia supposed to be a feminist utopia too?
I think we need to get rid of Bitcoin and their ilk forever or more stuff like this is gonna keep happening and be harder to stop:
Helpful WSJ article on what to do with your bitcoin that are dropping in value.
I didn’t realize that unlike stocks or other securities, there is no wash rule that limits your ability to take loses with cryptocurrency. So if you lost money sell now, and if you want buy back the next day.
Combine the trustworthiness of both Facebook and cryptocurrency and win!
Because it worked so well for Kik.
Wall Street Quietly Shelves Its Bitcoin Dreams
Goldman Sachs, Morgan Stanley and many more built it. But they didn’t come.
Take Goldman Sachs Group Inc., which sought to position itself at the cutting edge of digital assets that skeptics see mainly as a domain of day traders and anarchists. Progress has been so slow as to be barely noticeable, according to people familiar with its crypto business. Many in the industry now say it was quixotic to have expected last year’s frenzy to translate into a Wall Street crypto offering.
“The market had unrealistic expectations that Goldman or any of its peers could suddenly start a Bitcoin trading business,” said Daniel H. Gallancy, chief executive officer of New York-based SolidX Partners, which hopes to launch a Bitcoin ETF in the U.S. “That was top-of-the-market-hype thinking.”
Morgan Stanley, which hired Andrew Peel as its head of digital assets earlier in the year, has been technically prepared to offer swaps tracking Bitcoin futures since at least September, yet thus far has not traded a single contract, according a person familiar with the matter.
What could possibly go wrong???
@Woolen_Horde already posted about QuadrigaCX but his has the lede buried regarding the lost password:
Also, now it costs more to mine BTC than its value.