Why? I know why far-right Republican bozos want it — all the bribes (or “donations”) from the crypto and oil industries. But how would anyone else benefit from this? We don’t pay our taxes in random things that have a perceived value, whether it’s Mexican Pesos, airline miles, gold doubloons, futures contracts, corn, land, etc. for a reason. Individuals sell those assets (and often pay capital gains taxes on the sale) to get dollars, the national currency that has a known value and doesn’t need to be sold.
Then, the U.S. government would have to sell them all anyway and the price fluctuations make that very risky. Why put that risk on the government? And only for Bitcoin, which is by design1 super volatile. It doesn’t even have a central bank. The U.S. government collecting and selling loads of BTC every April would probably make it even more volatile and speculative.
1 Probably unintentionally since Bitcoin fanboys all seem to have found their Economics knowledge in a Cracker Jack box instead of a textbook.
Why? I know why far-right Republican bozos want it — all the bribes (or “donations”) from the crypto and oil industries. But how would anyone else benefit from this? We don’t pay our taxes in random things that have a perceived value, whether it’s Mexican Pesos, airline miles, gold doubloons, futures contracts, corn, land, etc. for a reason. Individuals sell those assets (and often pay capital gains taxes on the sale) to get dollars, the national currency that has a known value and doesn’t need to be sold.
Then, the U.S. government would have to sell them all anyway and the price fluctuations make that very risky. Why put that risk on the government? And only for Bitcoin, which is by design1 super volatile. It doesn’t even have a central bank. The U.S. government collecting and selling loads of BTC every April would probably make it even more volatile and speculative.
1 Probably unintentionally since Bitcoin fanboys all seem to have found their Economics knowledge in a Cracker Jack box instead of a textbook.