Sorry, cause I know I have been gone a while but I saw this and Steemit was the first thing that hit my mind...
The State Government is now accepting Bitcoins and Bitcoin Cash as tax payments.
With the government acknowledging the currency as such, a currency. It appears Ohio is the first state in the US to accept the cryptocurrency as payment for taxes from businesses.
This gives Ohio's Cryptocoiners another step in the ecosystem of currency.
With the ability to pay your taxes in cryptocurrency. There are those who can now run a business and accept Bitcoins, then turn right around and pay their taxes with what they are getting paid. This is HUGE!
Even most of the people following Ron Paul get that Crypto will be huge in the coming years.
Take this tweet for example.
Sure, we have seen some down in the dumps market changes, but this is the beginning of the turn around I believe.
Who knows, maybe we will see that $20,000 Bitcoin price again... and that $4 STEEM price tooo! :D Yet, for now all I can say is hang onto your bitcoins because this is a huge step... who knows, maybe if I forget about the ones I have in a year or 2 I can look in my wallet and retire. Wouldn't that be nice....
Good news when I heard it, it has too side to it. On the negative, the state government will not likely keep it in bitcoin, so they will quickly sell out for fiat and which will affect the market negatively.
And on the positive side, such action by a recognize body as state government gives more authority to cryptos and therefore will likely make more people invest in cryptos affecting the market positively.
In my opinion, I think the good beats the bad so I'll call it a good news.
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I can agree with that.
I've been reading what I can find and looking at the Ohio website. It actually just looks like they are using an exchange platform as a payment option. So, you would be right to say they aren't going to hold btc.
The news here really is that a state government has officially recognized and adapted Bitcoin. :D
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damn, thats crazy. .... thats nuts. that confuses me. i thought crypto was dying ....
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Hahaha, crypto dying... main stream media for the most part will make you believe what ever makes them money....
Crypto is on a hard downturn this is true. Although, it is far from dying.
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